Defiance Silver Corp. (“Defiance”) is pleased to provide a corporate update and an update on exploration plans for its San Acacio silver project.
Defiance has initiated a two-phase technical program at San Acacio. Field work will commence in the third week of November with an immediate emphasis on evaluating the main San Acacio resource at depth as well as brownfields targets adjacent to the mine area and to the south east of the Resource Area. These targets encompass, but are not limited to, alternate mineralization styles, fault bounded “blind” vein systems, and structural targets on the Veta Grande system.
The program will be executed by OreQuest Consultants, whom Defiance recently engaged as Technical Advisor to the company. Upon completion of the preliminary phase of work, Defiance will proceed with a step-out exploration drilling program on brownfields targets adjacent to the historical workings.
Defiance also announces that the results from its recent two hole, 928.40 meter drill program have been received. The program was designed to test a large geophysical anomaly southeast of the main resource area. Neither drill hole intersected any significant assay values, but both holes intersected a volcano sedimentary package with very different physical properties than the typical Veta Grande stratigraphy intersected in previous drill programs.
Table 1: Drill Collar location and orientation
| Drill hole | Date | Coords UTM WGS84 | Orientation | Depth (m) | Cumulative | |||||
|---|---|---|---|---|---|---|---|---|---|---|
| Started | Ended | E | N | Elev | Survey | Azimuth | Dip | (m) | ||
| DSA19-001 | 2019-06-11 | 2019-06-23 | 753420 | 2525255 | Garmin | 52 | -68 | 451.15 | 451.15 | |
| DSA19-002 | 2019-06-23 | 2019-07-08 | 753590 | 2525325 | Garmin | 160 | -48 | 477.25 | 928.40 | |
Figure 1 - Light green showing 2019 Drilling. Dark Green Showing Historical. Geophysical Anomaly outlined in yellow.
Drill hole DAS19-001 was designed to test a deep IP Anomaly located at depth. The hole intersected significant widths of sulphide mineralization such as marcasite and both primary and secondary pyrite. Intersections exceeding 10% pyrite were encountered in the drill hole. The drill hole ended in a magnetic basalt/andesite. The high amount of pyrite may explain the presence of the IP anomaly. The basalt/andesite contact may explain the resistivity anomaly.
Drill hole DAS19-002 was drilled in the same area as hole DAS190-001 and was oriented to test the continuity of the Veta Grande this far to the southeast, and beneath favourable alteration located in outcrop. The drill hole successfully intersected three zones of favourable alteration and quartz veining that may correlate with the Veta Grande. Strong alteration and local quartz veining with silicification along with anomalous silver and base metals grades were intersected between downhole depths of 283.50 to 302.0 meters, 339.4 to 356.33 meters and between 380.26 to 397.26 meters (true thickness is unknown). The results indicate that the Veta Grande vein continues but the hole intersected a pinch in the vein.
Defiance has accepted the resignation of Gillian Kearvell, Vice President Exploration, and wish her success in her future endeavors. OreQuest Consultants and the technical committee will be managing Defiance’s ongoing exploration efforts.
Mr. Peter J. Hawley, P.Geo., a consultant to Defiance Silver Corp., is a Qualified Person within the meaning of National Instrument 43-101, and has approved the technical information concerning the Company’s material mineral properties contained in this press release.
About Defiance Silver Corp.
Defiance Silver Corp. (DEF | TSX Venture Exchange; DNCVF | OTC; D4E | Frankfurt) is an exploration company advancing the district-scale San Acacio Deposit, located in the historic Zacatecas Silver District and the 100% owned Tepal Gold/Copper Project in Michoacán state, Mexico. Defiance is managed by a team of proven mine developers with a track record of exploring, advancing and developing several operating mines and advanced resource projects. Defiance’s corporate mandate is to expand the San Acacio and Tepal projects to become premier Mexican silver and gold deposits.
On behalf of Defiance Silver Corp.
“Chris Wright”
Chairman of the Board
For more information, please contact: Investor Relations at +1 917-563-3821 or via email at: info@defiancesilver.com
704 - 595 Howe Street,
Vancouver, BC V6E 2K3
Tel: 604-669-7315
www.defiancesilver.com
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This news release may contain forward-looking statements including but not limited to comments regarding timing and content of upcoming work programs, geological interpretations, receipt of property titles, potential mineral recovery processes, etc. Forward-looking statements address future events and conditions and therefore involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements. Defiance Silver Corp. relies upon litigation protection for forward-looking statements.