- IMPACT Silver (IPT) has signed a share purchase and sale agreement with Consolidated Zinc Limited (CZL) of Australia
- The agreement allows IMPACT to purchase all of the outstanding shares of CZL’s subsidiary, Minera Latin America Zinc S.A.P.I de C.V. (MLAZ), which the Plomosas zinc-lead-silver mine in the state of Chihuahua, northern Mexico
- The transaction involves a purchase price is US$6 million
- IMPACT Silver Corp. (IPT) is a successful producer-explorer with two mining projects in Mexico
- IMPACT Silver Corp. opened trading at $0.32 per share
IMPACT Silver (IPT) has signed a share purchase and sale agreement with Consolidated Zinc Limited (CZL) of Australia.
The agreement allows IMPACT to purchase all of the outstanding shares of CZL’s subsidiary, Minera Latin America Zinc S.A.P.I de C.V. (MLAZ), which holds a 100-per-cent interest in the Plomosas zinc-lead-silver mine in the state of Chihuahua, northern Mexico.
With the acquisition, IMPACT’s production profile will be expanded from one to two producing operations.
The transaction involves a purchase price is US$6 million, which consists of a minimum of US$3 million cash and the balance in IMPACT shares plus a 12 per cent net profit interest royalty to CZL.
Records show that Plomosas mine is host to high-grade mineralization. CZL has been mining Plomosas since September 2018, except for some temporary short suspensions during Christmas.
IMPACT plans a drill program in 2023 to infill and test extensions of the known mineralization. In addition, IMPACT intends to upgrade the mill and mine with the aim to continue mining, followed by plans for expanding operations.
“We are truly pleased to acquire a second mining district after evaluating hundreds of projects over the years in an effort to grow IMPACT,” said Chairman and CEO Frederick Davidson.
“Currently, Plomosas is a relatively small mining operation on a large mineral system, and our goal is to upgrade and expand operations to optimize production from the large mineral system,” he added.
The Plomosas project is located 110 km by road from Chihuahua City, the state capital, which is a two-hour flight from Dallas, Texas, USA.
Consolidated Zinc Limited is an Australian junior exploration company listed on the Australian Stock Exchange.
IMPACT Silver Corp. (IPT) is a successful producer-explorer with two mining projects in Mexico.
IMPACT Silver Corp. opened trading at $0.32 per share.
