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IMPACT Silver Corp. announced the discovery of a new mineralized shoot on the Lipton vein in the Guadalupe mine. The new Lipton Norte zone was discovered during an underground drill program which was designed to test the northern extension of the near vertical vein system.
IMPACT Silver Corp. (TSXV:IPT) announced the discovery of a new mineralized shoot on the Lipton vein in the Guadalupe mine. The new Lipton Norte zone was discovered during an underground drill program which was designed to test the northern extension of the near vertical vein system. To date the new zone has been drilled over a length of 120 meters and vertical distance of 80 meters.
As quoted in the press release:
The area was initially targeted during an exhaustive compilation of the Guadalupe mine workings into IMPACT’s comprehensive GIS database of the large 357 square kilometers land package. The geology team discovered evidence of additional high-grade silver potential in this area and allocated drilling in 2018’s brownfield exploration plans.
The Guadalupe mine has an operating shaft and is located just beside the Guadalupe 535 tonne per day processing plant; two factors which minimize mining and trucking costs. The Company is pleased to see exploration results are significantly higher grade than recent mill head grade and plans to mine mineral from this newly discovered zone in coming quarters to increase revenue per tonne as well as carry out additional brownfields exploration elsewhere in the Guadalupe mine.
Historical production from the Guadalupe Mine was first recorded in 1529 and produced an estimated 9,000,000 ounces of silver between 1967 and 1982 from five veins on six levels to a depth of 270 meters below surface. Throughout the centuries, as mining technologies allowed greater depths to be mined and better recovery techniques were developed the economic silver grades dropped. Fluctuations in the price of silver, revolutions and economic downturns resulted in many shutdowns and re-openings but Guadalupe has always managed to recover and continue to produce silver and wealth for investors and the local communities..