Impact Silver Corp. said Monday its second-quarter net earnings shot up more than 700 percent on increased sales and higher selling prices.

The Vancouver-based miner, which has a market capitalization of $124.57 million, had net earnings for the three months ended June 30 of $2.5 million, or 3 cents per share, compared to $300,000, or 1 cent per share, in the year-earlier quarter.

Revenue jumped to $8 million from $2.9 million in the second quarter of 2010.

Silver production increased 20 percent to 224,361 ounces from 186,890.

Silver sales for the quarter reached 249,851 ounces, up 45 percent from 172,039 ounces in the second quarter 2010, said Impact, which operates in Mexico and the Dominican Republic.