IMPACT Silver Corp. ("IMPACT" or "the Company") is pleased to report additional drill results from the 423-square-kilometer Royal Mines of Zacualpan Silver-Gold District, Mexico. Significant intersections include 277 g/t Ag across 3.15 meters (Drill Hole Z10-27) and 3,010 g/t Ag across 0.25 meters (Drill Hole Z10-27). The Golondrinas Project area has good road infrastructure connected to IMPACT's 500-tonne-per-day Guadalupe processing plant, located three kilometers to the northwest. This drilling is part of a previously announced first phase 5,000-meter Golondrinas-Chontalpan-Cuchara (GGC) Sector drill program (see IMPACT news release dated July 27, 2010).
Reported below are assay results from six additional holes from the western portion of the Golondrinas area:
| DRILL HOLE | VEIN NAME | DRILL SECTION | FROM (m) | TO (m) | INTERVAL (m) | SILVER (g/t) | GOLD (g/t) | LEAD (%) | ZINC (%) |
|---|---|---|---|---|---|---|---|---|---|
| Z10-24 | La Obra I | 10+50N | 18.22 | 20.55 | 2.33 | 115 | 0.015 | 0.03 | 0.09 |
| Z10-24 | Golondrinas | 10+50N | 161.00 | 163.00 | 2.00 | 359 | 0.040 | 0.37 | 1.58 |
| Z10-24 | (including) | 10+50N | 161.00 | 162.15 | 1.15 | 613 | 0.070 | 0.64 | 2.73 |
| Z10-25 | La Obra I | 11+00N | 89.07 | 90.70 | 1.63 | 172 | 0.057 | 0.29 | 0.68 |
| Z10-25 | Guajocote | 11+00N | 160.00 | 160.60 | 0.60 | 230 | 0.040 | 0.121 | 0.096 |
| Z10-25 | Golondrinas I | 11+00N | 167.85 | 169.80 | 1.95 | 117 | 0.013 | 0.05 | 0.06 |
| Z10-25 | (including) | 11+00N | 167.85 | 168.10 | 0.25 | 691 | 0.080 | 0.36 | 0.30 |
| Z10-25 | Golondrinas II | 11+00N | 173.00 | 175.90 | 2.90 | 174 | 0.015 | 0.13 | 0.29 |
| Z10-25 | (including) | 11+00N | 173.00 | 173.25 | 0.25 | 1,080 | 0.110 | 0.65 | 1.96 |
| Z10-27 | La Blanca II | 12+00N | 152.05 | 155.20 | 3.15 | 277 | 0.002 | 0.03 | 0.08 |
| Z10-27 | (including) | 12+00N | 152.05 | 152.30 | 0.25 | 3,010 | 0.020 | 0.24 | 0.32 |
| Z10-28 | La Blanca I | 12+00N | 159.85 | 160.45 | 0.60 | 188 | 0.000 | 0.26 | 0.59 |
| Z10-28 | La Blanca II | 12+00N | 171.77 | 175.26 | 3.49 | 104 | 0.002 | 0.09 | 0.28 |
| Z10-29 | La Obra I | 10+50N | 102.00 | 103.20 | 1.20 | 195 | 0.250 | 0.33 | 0.44 |
| Z10-29 | Guajocote | 10+50N | 214.18 | 215.62 | 1.44 | 194 | 0.027 | 0.11 | 0.14 |
| Z10-29 | (including) | 10+50N | 214.18 | 214.37 | 0.19 | 1,245 | 0.140 | 0.78 | 0.93 |
| Z10-29 | Golondrinas | 10+50N | 237.98 | 239.64 | 1.66 | 167 | 0.049 | 0.04 | 0.19 |
| Z10-29 | (including) | 10+50N | 237.98 | 238.32 | 0.34 | 772 | 0.200 | 0.21 | 0.86 |
Additional background information for the Golondrinas Project area was provided when drilling commenced (see IMPACT news release dated August 19, 2010). Drill results were previously reported from the first twelve holes (see IMPACT news release dated October 19, 2010).
Currently, the drill is completing a second phase drill program on the Loma Larga target area, where earlier drilling intersected 402.6 g/t silver over 2.14 meters (see IMPACT news release dated September 15, 2010). A second phase drill program for the Chontalpan Mine-Northwest target area will also follow shortly. Both second phase programs for the Chontalpan Drill Sector are designed to build tonnage and better define mineralization discovered earlier this year. Upon completion of Chontalpan second phase drilling, it is anticipated that the drill will move back to the Golondrinas Project area to undertake a second phase drill program on selected targets once results have been interpreted and integrated into IMPACT's GIS database.
NEW MILESTONE: 2,000 OLD MINE WORKINGS COMPILED TO DATE
The Company's compilation of old mine and exploration workings for the Zacualpan and Mamatla Districts has now surpassed 2,000, with the addition of 443 old workings this past year alone, a 30% increase from 2009. After almost 500 years of mining history, the Company's land holdings contain a large number of old mine tunnels, adits, shafts and prospect pits, many of which date back to the Spanish colonial times. Throughout the past five years, the Company's exploration team has focused on locating these old workings, and is actively re-opening them in order to undertake detailed mapping and rock sampling (see IMPACT news release dated August 11, 2009). By documenting the locations of these old workings, both the major veins and, in many cases, the higher grade portions of these veins can be ascertained by IMPACT's exploration team in order to prioritize areas for detailed work and drilling.
In addition, the Company's exploration team has documented the locations of 38 old mill sites in the Zacualpan and Mamatla Districts dating back to Spanish colonial times. Many of these mills occur in geographically distinct locations and appear to represent logistical centers for historical "mining camps". Nineteen such "mining camps" have now been recognized on the Company's claim holdings.
IMPACT also announces that financial results for the third quarter ended September 30, 2010 will be released at the end of November.
Brian Hall, P. Geo. and Wojtek Jakubowski, P.Geo., Qualified Persons under the meaning of Canadian National Instrument 43 101, are responsible for the technical content of this news release.
IMPACT Silver Corp. is a profitable silver-focused mining and exploration company operating in Mexico with a producing silver operation at the 423 km2 Royal Mines of Zacualpan District, the adjacent 200 km2 advanced Mamatla Mineral District and a portfolio of projects with an operational processing plant at Zacatecas. Additional information including a drill map of the Golondrinas Project area can be found on the company website at www.IMPACTSilver.com.
On behalf of the Directors of IMPACT Silver Corp.,
"Frederick W. Davidson"
President & CEO
For further information, please contact:
Sunny Pannu, Investor Relations
(604) 681 0172 or via email at inquiries@impactsilver.com
The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this news release. Some statements in this news release contain forward-looking information. These statements include, but are not limited to, statements with respect to proposed activities, work programs and future expenditures. These statements address future events and conditions and, as such, involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the statements. Such factors include, among others, the effects of general economic conditions, the price of commodities, changing foreign exchange rates, actions by government authorities, title matters, environmental matters, reliance on key personnel, the ability for operational and other reasons to complete proposed activities and work programs, the need for additional financing and the timing and amount of expenditures. IMPACT does not assume the obligation to update any forward-looking statement.
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