IMPACT Announces Purchase of all Remaining Mining and Processing Equipment at Royal Mines of Zacualpan Silver Project
Wednesday July 19, 1:30 pm ET
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VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - July 19, 2006) - IMPACT Silver Corp. ("IMPACT") (TSX VENTURE:IPT - News) is pleased to announce that it has purchased all of the remaining mining and processing equipment, mineral concessions and surface rights not already owned at its Royal Mines of Zacualpan Silver Project. These transactions give IMPACT 100% ownership of all previously optioned assets in the district with no underlying royalties or lease payments.
EQUIPMENT PURCHASES
The purchase is the final exercise of the option agreement announced March 14, 2006. Under the agreement, IMPACT acquired the 500-tonne-per-day (tpd) processing plant plus certain mineral concessions and surface rights for US$1,140,000 plus 100,000 shares. Until now, IMPACT leased the plant and surface rights in order to process its mineral production. The producing Guadalupe Mine is located on formerly-leased mineral concessions where IMPACT had been paying a 2.5% Net Smelter Return royalty on all mineral production. These lease and royalty payments ended with this purchase.
With these purchases, IMPACT now owns all the equipment and surface rights related to its Royal Mines of Zacualpan operations and has a 100% interest with no underlying royalties to its mineral concessions comprising most of the Zacualpan silver district.
The Royal Mines of Zacualpan Silver Project includes two operating silver mines, a 500-tpd operating plant (currently operating at about 200 tonnes per day) and associated mineral concessions covering 124.5km2 over most of the Zacualpan Silver District. Production is presently coming from the Guadalupe Mine in the center of the district and the high grade San Ramon Mine in the southeastern part of the district.
IMPACT Silver Corp. is a silver focused mining and exploration company with a producing silver mine at Zacualpan, Mexico, a new project at Zacatecas, Mexico and other projects in the Dominican Republic. Energold Drilling Corp. (TSX VENTURE:EGD - News) owns 6.6 million shares of IMPACT.
On behalf of the Directors of IMPACT Silver Corp.
Frederick W. Davidson, President, CEO
The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this news release.
Contact:
Darrell Rader
IMPACT Silver Corp.
Corporate Development
(604) 681-9501
(604) 681-6813 (FAX)
inquiries@IMPACTSilver.com
www.IMPACTSilver.com
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Source: IMPACT Silver Corp. |
