Defiance Silver Corp (“Defiance”) is pleased to announce that it has both received a drill permit and secured long-term surface rights that allow for an initial 2000 meter drill program on the San Acacio silver deposit in the historic Zacatecas Silver District. The San Acacio deposit has produced approximately 100 million ounces of silver historically from an epithermal vein with mineralized intersections averaging between 7-10 meters wide but with individual intersections of up to 28 meters wide. The drilling program is focused on significantly increasing the current resource in the northwestern portion of the 1 km long zone of past production below the lower margins of the existing resource blocks. A further 3000 meter drill program will be focused on the southeastern portion of the zone using the same concept. Drilling programs to test the potential along the 4.6 km extension of the vein to the southeast will test the potential along strike.
Defiance received formal approval from the Mexican environmental control agency Semarnat of the Informe Preventivo permit application for a total of 5000m of drilling that was submitted in early October of this year. “We are very pleased with the excellent cooperation that we received from Semarnat during the permitting process and the rapid timeframe for approval of the application”, reports Bruce Winfield, President and CEO of Defiance.
Defiance has also secured long-term surface rights which will provide access for the planned drill program on the San Acacio deposit. A 20 year access agreement has been signed with a private land owner for 18 hectares of land covering the northwestern portion of the vein. The agreement includes annual payments in return for access during exploration and development activities, through to and including mining activities. A lease agreement has also been obtained from the Municipality of Veta Grande providing for access to 34 hectares of adjacent ground along the trend of the San Acacio deposit.
Bruce Winfield, President & CEO of Defiance, stated, “With these recent developments we are making excellent progress toward carrying out our first drill program at San Acacio we are looking forward to the results of this program as we are targeting the lowest hanging fruit with the lowest risk/highest reward equation of the exploration potential at San Acacio”.
About Defiance Silver Corp.:
Defiance is engaged in the acquisition and exploration of advanced silver projects in the historic Zacatecas Silver District, Mexico. Defiance is focused on the potential to expand the current resource at the San Acacio deposit, a past producer of approximately 100 million ounces of silver.
On behalf of Defiance Silver Corp.
President and CEO
For additional information please visit the Company’s website at www.defiancesilver.com.
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