Defiance Acquires Mag Silver’s Zacatecas Silver District Holdings; Mag Becomes Strategic Shareholder
Momentum Public Relations
Press Release: June 13 2018
Defiance Silver Corp. (TSXV: DEF) (OTC: DNCVF) (“Defiance”) is pleased to announce that it has entered into a binding agreement to acquire MAG Silver’s Zacatecas Silver District holdings. As consideration for the sale, MAG will acquire 5,000,000 common shares of Defiance representing an approximate 5% strategic investment position. Defiance will receive a 100% interest in MAG’s Lagartos Project along with a significant regional exploration database covering 135,000ha stretching from the Zacatecas to the Fresnillo Silver Districts. The transaction will provide Defiance control over a 1,506ha land package within the rapidly consolidating Zacatecas Silver district including over 65% of the Veta Grande vein, the San Acacio Silver Deposit (16.9M oz in 2.9 MT grading 182.42 grams per tonne silver inferred resource, see Defiance News Release dated January 15, 2015) and concessions bordering both the San Acacio deposit and veins being advanced by Pan American Silver, Capstone Mining and Endeavour Silver. Completion of the transaction is subject to a number of conditions precedent, including approval of the TSXV. Closing is expected to occur on or about June 22, 2018.
Dr. Peter Megaw, MAG’s Chief Exploration Officer commented, “With the Zacatecas Silver District consolidating, MAG was approached by a number of companies looking to acquire its holdings in the camp. MAG chose to partner with Defiance because of our long-held interest in the exploration potential of the Veta Grande Vein, the second most important vein in the billion-ounce Zacatecas silver district. A number of high-grade ore-shoots have been found along its length and the ability to expand exploration to a continuous 5.6 km stretch of this historically under-explored vein greatly enhances the potential for discovering more. This strategic interest in Defiance provides MAG with exposure to the upside of future discoveries as their exploration of this important vein advances.”
“With a number of silver miners actively consolidating the Zacatecas Silver District, we are excited that MAG chose to sell its Lagartos project to Defiance,” stated Peter J. Hawley, President and CEO. “This is an accretive and transformational acquisition for Defiance, receiving a 100%, royalty-free interest in the Lagartos project along with a regional database that cost over $10 million to create. With new concessions adjacent to our current land holdings to the northwest and southeast, this acquisition further consolidates our presence in the area and enhances the district-scalability of the San Acacio project.”
The Lagartos Project consists of 14 concessions totaling approximately 800 hectares (Figure 1). In addition, Defiance will also receive a database covering an additional 135,000 hectares in the Zacatecas silver district providing the opportunity to acquire further concessions. All of the Lagartos concessions are located within the Zacatecas silver district, which has produced an estimated billion ounces of silver, principally before 1895. Zacatecas lies along the “Fresnillo Silver Trend” a regional structural zone that has yielded over 5 billion ounces of silver. The four largest districts along the trend; Guanajuato, Zacatecas, Sombrerete and Fresnillo are all characterized by multiple sets of parallel silver-gold veins with high-grade oreshoots located periodically along their lengths. The Zacatecas District is characterized by six major sets of such parallel veins. This consolidation gives Defiance control of over 65% of the Veta Grande vein, which historically produced a significant amount of silver within the district. A number of the other newly acquired Lagartos concessions lie along other important vein systems in the Zacatecas Silver District including: the Malanoche vein system currently being mined by Capstone Mining Corp.; the Cantera – El Bote vein system; and the Panuco vein system controlled by Santacruz Silver Mining Ltd. and Pan American Silver Corp. It is believed that all the known deposits were found in outcrop 350 to 500 years ago, while new vein systems remain to be discovered.
Figure 1. Defiance Silver Current and Newly Added Concessions.
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MAG’s exploration programs successfully identified a number of broad (10s of meters wide) hydrothermal alteration zones along structures up to 4 kilometers long that appear to represent the upper level manifestations of deeper Zacatecas and/or Fresnillo (Juanicipio)-style epithermal vein mineralization. Select grab samples along these zones returned values ranging from one half ounce up to 2.3 kilograms silver (67 ounces). Significant drilling highlights include 850 g/t (24.8 ounces per tonne) silver over 0.95 meters; 417 g/t (12.1 ounces per tonne) silver over 1.0 meter (See MAG Silver News Release dated Jan 19, 2010). Selected grab samples are not necessarily representative of the mineralization hosted on the property.
Highlights
- 800 hectares of mining rights in 14 concessions
- Exploration digital data bank including; a drill hole database totaling 90 holes, extensive geochemistry, geophysics, satellite imagery, and detailed drill logs from over 135,000ha of ground stretching from the Zacatecas Silver District to the Fresnillo Silver District
- All core drilled by MAG Silver in the district.
About Defiance Silver Corp.
Defiance Silver Corp. (TSXV: DEF) (OTC: DNCVF) (FSE: D4E) is a silver explorer and developer advancing the San Acacio Deposit, located in the historic Zacatecas Silver District of central Mexico. Defiance is managed by a team of proven mine developers with a track record of exploring and developing 7 operating mines to date. Defiance’s corporate mandate is to expand San Acacio to become one of Mexico’s premier high grade wide vein silver deposits. A Panoramic Video on the San Acacio Deposit is available on our website.
Mr. Peter J. Hawley, P.Geo. Interim President & CEO, Chairman of the Board 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.
On behalf of Defiance Silver Corp.
“Peter J. Hawley”
Interim President & CEO
Chairman of the Board, Director
For more information, please contact: Sunny Pannu — Corporate Development (604) 669 7315 or via email at pannu@defiancesilver.com
2300 – 1177 West Hastings Street
Vancouver, BC V6E 2K3
www.defiancesilver.com
Tel: 604-669-7315
Email:info@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.
- Published in Defiance Silver
Defiance Identifies Large Target at San Acacio
Momentum Public Relations
Press Release: February 28 2018
Defiance Silver Corp. (TSXV: DEF) (OTC: DNCVF) (“Defiance”) is pleased to announce that it has identified a significant new target at depth at the San Acacio Project in Zacatecas, Mexico. The large open-ended target covers an area extending over 200 meters in a northwest to southeast direction along the 900-meter under-explored portion of the Veta Grande vein, immediately southeast of the San Acacio deposit. This new target was identified by an Induced Polarization (“IP”) survey following up on recent drilling and measures 200 meters long by 300 meters wide, starting at a depth of approximately 200m below surface on the surveyed area. The anomaly remains open in all directions and required an additional IP survey to close off the anomaly on the property. The anomaly correlates with the known strike and dip of the vein and occurs near where drill holes SAD17-18 and SAD17-19 intersected wide zones of anomalous silver mineralization that displayed characteristics of being high-level vein intercepts. The target remains to be drill tested and has the potential to host a virgin silver shoot at depth.
“We are pleased that our recent exploration program confirms our geological model that the Veta Grande vein continues to pinch and swell along strike. IP and drilling have delineated a coincident target with strong potential to host a virgin silver shoot,” stated Peter J. Hawley, President and CEO. “While it is still in its early days, this proves that the Veta Grande’s potential continues along its 4.4km of strike length yet to be tested. We are excited with the target and look forward to drilling it.”
All of the known silver shoots on the Veta Grande vein have already historically produced 200 million ounces of silver with the silver shoots at San Acacio containing a further resource totaling 18 million ounces silver (43-101 Inferred Mineral Resource Estimate).
Preliminary drill results from the first 2000 meters drilled along the 900 meter underexplored portion of the Veta Grande vein mostly returned mineralization and metals grades consistent with the pinching of the vein. Holes SAD17-18 (9.8 meters of anomalous silver) and SAD17-19 (27.76 meters of anomalous silver) discovered wide zones of amethyst-hosting vein that elsewhere on the Veta Grande vein are associated with silver shoots and high-grade silver mineralization. The mineralization in the amethyst-rich holes had characteristics indicative of being at a high-level in the vein system. Upon receiving final interpretation of the IP results, Defiance intends to recommence drilling.
A Panoramic Video on the San Acacio Deposit is available on our website, or Click Here to visit our Defiance YouTube Channel. Defiance Silver Corp. is a silver explorer and developer advancing the San Acacio Deposit, located in the historic Zacatecas Silver District of central Mexico. Defiance is managed by a team of proven mine developers with a track record of exploring and developing 7 operating mines to date. Defiance’s corporate mandate is to expand San Acacio to become one of Mexico’s premier high grade wide vein silver deposits.
Mr. Peter J. Hawley, P.Geo. Interim President & CEO, Chairman of the Board 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.
On behalf of Defiance Silver Corp.
“Peter J. Hawley“
Interim President & CEO
Chairman of the Board, Director
For more information, please contact: Sunny Pannu — Corporate Development (604) 669 7315 or via email at pannu@defiancesilver.com
2300 – 1177 West Hastings Street
Vancouver, BC V6E 2K3
www.defiancesilver.com
Tel: 604-669-7315
Email:info@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.
- Published in Defiance Silver
Defiance Silver appoints Hawley interim president, CEO
Momentum Public Relations
Press Release: February 15 2018
Defiance Silver Corp. has appointed Peter Hawley as interim president and chief executive officer. Mr. Hawley is currently the chairman of the board, and an integral part of the Defiance team with over 36 years of geological and mining experience spanning grassroots exploration through to development and production.
Mr. Hawley, BSc, BEng, PGeo, has worked extensively with a large number of intermediate and senior mining companies including Teck, Noranda, Placer Dome and Barrick Gold. Mr. Hawley was also the founder and chairman of Scorpio Mining Corp. from 1998 to December, 2014, when Scorpio combined with U.S. Gold and Silver Inc. to form Americas Silver Corp., where he still remains a director. Mr. Hawley has a record of raising significant funds for private and public companies along with structuring mergers and acquisitions.
“I look forward to continue working with Defiance’s team in advancing the San Acacio deposit to become the next premier wide-vein, high-grade silver deposit in Zacatecas, Mexico,” commented Mr. Hawley. “The San Acacio project has only scratched the surface, hence, our focus is to develop additional planned exploration programs to extend the zones of mineralization at depth and along strike, and target several new zones that have seen limited modern exploration.”
In connection with the appointment, Defiance also announces that it has granted incentive stock options to purchase up to an aggregate of 135,000 shares exercisable for five years at a price of 35 cents per share to Mr. Hawley.
Defiance Silver is a silver explorer and developer advancing the San Acacio deposit, located in the historic Zacatecas silver district of central Mexico. Defiance is managed by a team of proven mine developers with a record of exploring and developing seven operating mines to date. Defiance’s corporate mandate is to expand San Acacio to become one of Mexico’s premier high-grade wide vein silver deposits.
- Published in Defiance Silver
Defiance Silver 5,750,001-share private placement
Momentum Public Relations
Press Release: November 10, 2017
The TSX Venture Exchange has accepted for filing documentation with respect to a non-brokered private placement announced Sept. 15, 2017.
First tranche
Number of shares: 4,860,001 shares
Purchase price: 30 cents per share
Warrants: 4,860,001 share purchase warrants to purchase 4,860,001 shares
Warrant exercise price: 45 cents for a two-year period
Number of placees: 36 placees
Insiders: Ronald E. Sowerby, 100,000; Kesa Capital Corp. (Darrell Rader), 35,000; Paul A. Smith, 175,000; Windermere Capital Fund SPC/Navigator SP (Victor Murray), 700,000
Finders’ fees: $10,080 cash and 33,600 warrants payable to Raymond James Ltd.; $8,000 cash payable to Mackie Research Capital Corp.; $93,640 cash payable to Windermere Capital (Canada) Inc. (Finder’s fee warrants are exercisable at 45 cents per share for two years.)
Second tranche
Number of shares: 890,000 shares
Purchase price: 30 cents per share
Warrants: 890,000 share purchase warrants to purchase 890,000 shares
Warrant exercise price: 45 cents for a two-year period
Number of placees: 45 placees
Insider: Roy Bonnell, 80,000
Finder’s fee: $19,440 cash payable to Windermere Capital (Canada) Inc. (Finder’s fee warrants are exercisable at 45 cents per share for two years.)
- Published in Defiance Silver, Mining
Defiance Commences 5000 Metre Drill Program Targeting New Silver Shoots
Momentum Public Relations
Press Release: October 31, 2017
Vancouver, British Columbia–(Newsfile Corp. – October 31, 2017) – Defiance Silver Corp. (TSXV: DEF) (OTC: DNCVF) (“Defiance”) is pleased to announce the commencement of a Phase II, 5,000 meter drill program targeting new high-grade silver shoots along a 900m section of the Veta Grande vein located southeast of the San Acacio Silver Deposit in Zacatecas, Mexico.
“We are excited to begin the first systematic drill program testing the Veta Grande vein east of San Acacio. Our geological model indicates that with the Veta Grande tilting to the south east, historic miners did not recognize the potential of the vein along strike. If our model is correct, we could dramatically expand the district’s silver footprint. With two diamond drills operating, we look forward to a steady flow of drill results over the next three months.” stated Roy Bonnell, President and CEO of Defiance Silver Corp.
The Veta Grande vein, which pinches and swells along strike, produced approximately 200M ounces of silver from high-grade shoots in the swells, with an estimated 100M ounces of silver from high-grade shoots on Defiance’s portion of the Veta Grande. Mapping, mineralogical studies and drilling to date indicate that the pinching and swelling continues along strike and the mineralized system hosting the San Acacio deposit is tilted to the southeast. With only a few shallow historic exploration shafts and minor modern exploration, there is significant potential for the discovery of multiple intact, high grade silver shoots in this area. Over 4.4 km of Defiance’s 5.6 km holdings along the Veta Grande vein have not seen historical production nor been systematically explored, providing Defiance the opportunity to potentially grow the resource along strike.
A Panoramic Video on the San Acacio Deposit is available on our website, or Click Here to visit our Defiance YouTube Channel. Defiance Silver Corp. is a silver explorer and developer advancing the San Acacio Deposit, located in the historic Zacatecas Silver District of central Mexico. Defiance is managed by a team of proven mine developers with a track record of exploring and developing 7 operating mines to date. Defiance’s corporate mandate is to expand San Acacio to become one of Mexico’s premier high grade wide vein silver deposits.
Mr. Bruce Winfield, P.Geo. 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.
On behalf of Defiance Silver Corp.
“Roy Bonnell“
President and CEO
For more information, please contact: Sunny Pannu – Corporate Development (604) 669 7315 or via email at pannu@defiancesilver.com
2300 – 1177 West Hastings Street
Vancouver, BC V6E 2K3
www.defiancesilver.com
Tel: 604-669-7315
Email:info@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.
- Published in Defiance Silver, Mining, News Home
Defiance’s Phase 1 Drilling Significantly Expands High Grade Mineralized Envelope at San Acacio
Momentum Public Relations
Press Release: October 25, 2017
Drilling intersects 3 meters grading 404 g/t AgEq within a longer 10 meter intersection grading 204.65 g/t AgEq
Vancouver, British Columbia–(Newsfile Corp. – October 25, 2017) – Defiance Silver Corp. (TSXV: DEF) (OTC: DNCVF) (“Defiance”) is pleased to announce results from the final holes of its Phase 1 drilling program including a 3 meter intersection grading 404 g/t AgEq within a longer 10 meter intersection grading 204.65 g/t AgEq. Defiance commenced its 5000m drill program to test the extension of the San Acacio Deposit at depth. Including the final holes, Phase 1 has extended mineralization up to 230 meters below the current resource.
“We are very pleased with our continued exploration success at San Acacio. The Phase 1 results significantly expanded the mineralized envelope of the San Acacio silver deposit. Mapping and mineralogical studies indicate that the mineralized system hosting the San Acacio deposit is tilted to the southeast. This suggests that drilling along strike could result in the discovery of new mineralized zones containing the full vertical extent of the mineralizing system. Our next step is to prepare for the commencement of an aggressive Phase II drill program targeting new high grade shoots within the 900 meter extension of the Veta Grande vein system to the southeast of the San Acacio deposit,” stated Roy Bonnell, President and CEO of Defiance Silver Corp.
Along the entire Veta Grande vein, which pinches and swells along strike, approximately 200 million ounces of silver was historically produced from high grade shoots in the swells. Defiance’s portion of the Veta Grande vein has produced an estimated 100M ounces from high-grade shoots such as those that host the San Acacio deposit. Over 4.4 km of Defiance’s 5.6 km holdings along the Veta Grande vein have not seen historical production nor been systematically explored. Mapping, sampling and drilling has indicated that pinching and swelling continues along strike, presenting significant potential for the discovery of multiple, new, intact silver shoots.
Drill holes SAD17-13 and SAD17-14 targeted the Esperanza Zone, extending the mineralization to depth below drill hole SAD17-12 which intersected high grade silver over a core length of 27.03 meters of hydrothermal breccia and veins assaying 202.99 g/t AgEq (see News Release dated June 8, 2017). Drill hole SAD17-13 extended the wide zone of mineralization returned in drill hole SAD17-12 with a 10 meter intersection grading 204.65 g/t AgEq. Drill hole SAD17-14 intersected three narrower zones of mineralization before intersecting a fault that displaced the main vein. Drill hole SAD17-15 drilled 100 meters to the southeast on the vein intersected high grade mineralization grading 296.30 g/t AgEq over 3.18 meters. Drill hole SAD17-17, drilled 100 meters farther to the southeast, extended the wide vein intersection of 11.95 meters returned by drill hole SAD15-10 although mineralization was primarily base metals suggesting that it may be in the low grade zone between the silver and the silver-base-metal zones.
With the completion of its Phase 1 drill program, Defiance presents highlights from its recent drilling as part of a complete table of all Phase 1 results (including those previously reported)
Table 1: Phase 1 Drill Results
Hole # | From (m) | To (m) | Length (m) | Ag, g/t | Au, g/t | Cu, {92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} | Pb, {92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} | Zn, {92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} | AgEq,* g/t* |
SAD14-01 | 132.50 | 149.50 | 17.00 | 110.21 | 0.13 | 0.01 | 0.11 | 0.35 | 139.15 |
including | 134.00 | 142.10 | 8.10 | 222.12 | 0.22 | 0.01 | 0.20 | 0.53 | 268.13 |
SAD14-02 | 168.50 | 185.20 | 16.70 | 101.11 | 0.75 | 0.02 | 0.14 | 1.79 | 235.36 |
including | 168.50 | 171.70 | 3.20 | 419.09 | 0.82 | 0.02 | 0.14 | 0.30 | 499.43 |
including | 176.20 | 182.10 | 5.90 | 30.15 | 1.46 | 0.03 | 0.23 | 4.62 | 334.68 |
SAD14-03 | 194.50 | 213.30 | 18.80 | 21.37 | 0.42 | 0.02 | 0.84 | 1.10 | 128.03 |
including | 205.00 | 213.30 | 8.30 | 42.89 | 0.92 | 0.04 | 1.87 | 2.44 | 278.33 |
SAD14-04 | 143.00 | 153.10 | 10.10 | 100.23 | 0.56 | 0.13 | 0.77 | 1.61 | 248.11 |
including | 147.00 | 153.10 | 6.10 | 138.35 | 0.80 | 0.19 | 1.27 | 1.90 | 340.41 |
SAD15-06 | 178.00 | 185.30 | 7.30 | 109.21 | 0.13 | 0.01 | 0.04 | 0.09 | 125.09 |
SAD15-06 | 219.50 | 231.00 | 11.50 | 20.06 | 0.39 | 0.03 | 0.04 | 1.54 | 114.85 |
including | 224.00 | 231.00 | 7.00 | 19.88 | 0.57 | 0.03 | 0.06 | 2.35 | 161.82 |
SAD15-07 | 136.40 | 140.00 | 3.60 | 211.49 | 0.14 | 0.01 | 0.11 | 0.20 | 234.17 |
SAD15-07 | 147.10 | 149.50 | 2.40 | 149.16 | 0.16 | 0.02 | 0.42 | 1.59 | 241.55 |
SAD15-07 | 185.40 | 206.50 | 21.10 | 70.84 | 0.24 | 0.03 | 0.35 | 0.77 | 134.87 |
including | 199.10 | 206.50 | 7.40 | 158.75 | 0.52 | 0.07 | 0.81 | 1.83 | 306.68 |
SAD15-8 | 106.05 | 113.30 | 7.25 | 631.46 | 0.43 | 0.01 | 0.09 | 0.22 | 675.58 |
SAD15-8 | 119.50 | 120.20 | 0.70 | 431.95 | 0.24 | 0.01 | 0.21 | 0.64 | 483.38 |
SAD15-8 | 163.05 | 163.80 | 0.75 | 330.75 | 0.10 | 0.01 | 0.15 | 0.31 | 356.81 |
SAD15-9 | 221.00 | 224.05 | 3.05 | Mine Opening on Veta Chica | |||||
SAD15-9 | 226.15 | 241.80 | 15.65 | 65.22 | 0.02 | 0.01 | 0.01 | 0.04 | 68.99 |
including | 226.15 | 231.00 | 4.85 | 118.32 | 0.02 | 0.07 | 0.01 | 0.04 | 129.64 |
SAD15-9 | 263.70 | 266.75 | 3.05 | 40.38 | 0.09 | 0.01 | 0.15 | 0.52 | 74.55 |
266.75 | 269.80 | 3.05 | Mine Opening on Veta Grande | ||||||
269.80 | 271.35 | 1.55 | 4.90 | 0.04 | 0.01 | 0.15 | 0.51 | 33.43 | |
SAD15-10 | 282.70 | 284.30 | 1.60 | 100.03 | 0.11 | 0.01 | 0.01 | 0.03 | 110.72 |
SAD15-10** | 331.50 | 343.45 | 11.95 | Veta Grande vein | |||||
including | 331.5 | 333.6 | 2.1 | 283.31 | 0.17 | 0.01 | 0.38 | 0.70 | 337.75 |
** | 333.60 | 335.65 | 2.05 | Mine Opening on Veta Grande | |||||
including | 335.65 | 341.15 | 5.5 | 96.65 | 0.26 | 0.03 | 0.61 | 1.34 | 194.32 |
** | 341.15 | 341.85 | 0.7 | Mine Opening on Veta Grande | |||||
including | 341.85 | 343.45 | 1.60 | 19.44 | 0.12 | 0.02 | 0.40 | 1.58 | 106.88 |
SAD15-11 | 283.50 | 285.00 | 1.50 | 136.03 | 0.03 | 0.02 | 0.03 | 0.06 | 143.22 |
SAD 17-12 | 226.2 | 253.65 | 27.03 | 148.21 | 0.29 | 0.02 | 0.13 | 0.67 | 202.99 |
including | 226.2 | 234.20 | 7.58 | 212.91 | 0.05 | 0.01 | 0.06 | 0.26 | 230.03 |
including | 238.0 | 243.00 | 5.00 | 230.69 | 0.51 | 0.04 | 0.43 | 1.68 | 354.97 |
including | 247.6 | 253.65 | 6.05 | 122.07 | 0.74 | 0.01 | 0.09 | 1.04 | 222.59 |
SAD17-13 | 261.00 | 271.00 | 10.00 | 171.22 | 0.08 | 0.01 | 0.27 | 0.42 | 204.65 |
including | 261.00 | 264.00 | 3.00 | 372.21 | 0.10 | 0.01 | 0.16 | 0.45 | 404.03 |
SAD17-14 | 308.07 | 308.67 | 0.60 | 139.53 | 0.40 | 0.00 | 1.84 | 1.09 | 276.74 |
314.12 | 315.00 | 0.88 | 213.84 | 0.30 | 0.00 | 0.01 | 0.00 | 236.21 | |
318.00 | 318.30 | 0.30 | 477.55 | 0.46 | 0.00 | 0.05 | 0.17 | 520.27 | |
SAD17-15 | 209.82 | 213.00 | 3.18 | 285.04 | 0.02 | 0.01 | 0.05 | 0.17 | 296.30 |
SAD17-17 | 439.13 | 440.14 | 1.01 | 33.90 | 0.12 | 0.01 | 0.51 | 3.14 | 187.85 |
*Reported for comparison only, with no assumptions regarding metal recovery or smelter payments. Prices used are Au: $1210.50/ounce, Ag: $16.33/ounce, Cu; $2.80/pound, Pb; $0.83/pound and Zn $0.95/pound. US dollars.
**Grade not calculated because of no data for open mine workings.
***True Widths are approximately 70{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} to 80{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} of each intersection.
Corporate Update
Defiance is also pleased to announce that it has successfully renegotiated the option payment for the next twelve months at San Acacio. The property vendors have agreed to split the 2017 milestone payment into four equal payments with the last one due in June 2018.
Defiance has retained Momentum Public Relations Inc. (“Momentum”) to provide investor relations and corporate development services. Momentum is a public and investor relations consulting agency and will assist Defiance in increasing public awareness by managing its corporate communications and marketing activities and facilitating dialogue with its shareholders, finance professionals, analysts and media contacts. The agreement with Momentum is for a term of six months at $5,500 per month and 300,000 stock options at $0.30 exercisable for a period of two years. The agreement is subject to the acceptance of the TSX Venture Exchange.
A Panoramic Video on the San Acacio Deposit is available on our website, or Click Here to visit our Defiance YouTube Channel. Defiance Silver Corp. is a silver explorer and developer advancing the San Acacio Deposit, located in the historic Zacatecas Silver District of central Mexico. Defiance is managed by a team of proven mine developers with a track record of exploring and developing 7 operating mines to date. Defiance’s corporate mandate is to expand San Acacio to become one of Mexico’s premier high grade wide vein silver deposits.
Mr. Bruce Winfield, P.Geo. 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 Defiance’s material mineral properties contained in this press release.
On behalf of Defiance Silver Corp.
“Roy Bonnell“
President and CEO
For more information, please contact: Sunny Pannu — Corporate Development (604) 669 7315 or via email at pannu@defiancesilver.com
2300 – 1177 West Hastings Street
Vancouver, BC V6E 2K3
www.defiancesilver.com
Tel: 604-669-7315
Email: info@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.
- Published in Defiance Silver, Mining, News Home
Defiance Announces $1.45M First Tranche of Private Placement Closed
Momentum Public Relations
Press Release: September 25, 2017
Vancouver, British Columbia–(Newsfile Corp. – September 25, 2017) – Defiance Silver Corp. (TSXV: DEF) (OTC: DNCVF) (“Defiance”) is pleased to announce that it has closed the first tranche of its private placement in the amount of $1,458,000 and issued 4,860,001 Units at a price of $0.30 per Unit. These Units are subject to a four month hold period expiring January 20, 2018. Defiance management and directors have subscribed for a total of 310,000 Units.
The proceeds of the private placement will be used by Defiance to commence a drill program at the San Acacio Silver Deposit located in Zacatecas, Mexico as well as for working capital purposes.
Each Unit consists of one common share and one common share purchase warrant. Each warrant will entitle the holder thereof to acquire one additional common share of Defiance for a period of twenty-four (24) months at an exercise price of $0.45. Finder’s fees of $112,920 and 376,400 finders’ warrants were paid in connection with the first tranche of the private placement. Each finder’s warrant entitles the holder to acquire one common share of Defiance at $.45 for 24 months.
A Panoramic Video on the San Acacio Deposit (https://www.youtube.com/watch?v=DEqtbHzMeYw) is available on our website, or Click Here to visit our Defiance YouTube Channel (http://www.defiancesilver.com/media/video). Defiance Silver Corp. is a silver explorer and developer advancing the San Acacio Deposit, located in the historic Zacatecas Silver District of central Mexico. Defiance is managed by a team of proven mine developers with a track record of exploring and developing seven operating mines to date. Defiance’s corporate mandate is to expand San Acacio to become one of Mexico’s premier high grade wide vein silver deposits.
On behalf of Defiance Silver Corp.
“Roy Bonnell“
President & CEO
For more information, please contact: Sunny Pannu – Corporate Development (604) 669 7315 or via email at pannu@defiancesilver.com
2300 – 1177 West Hastings Street
Vancouver, BC V6E 2K3
www.defiancesilver.com
Tel: 604-669-7315 Email:info@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.
- Published in Defiance Silver, Mining, News Home
Defiance Announces Closing of $1.2M in Private Placement
Momentum Public Relations
Press Release: September 15, 2017
VANCOUVER, BRITISH COLUMBIA–(Marketwired – Sept. 15, 2017) – Defiance Silver Corp. (“Defiance” or “Company”) (TSX VENTURE:DEF) (OTC:DNCVF), an emerging silver explorer currently advancing the San Acacio Silver Deposit in Zacatecas, Mexico, is pleased to announce that it is closing on a first tranche of $1,254,000 of a non-brokered private placement consisting of up to 7,000,000 units at a price of $0.30 per unit for gross proceeds of up to $2,100,000 (the “Offering”). Each unit consists of one common share and one common share purchase warrant. Each warrant will entitle the holder thereof to acquire an additional common share of Defiance for a period of twenty-four (24) months at an exercise price of $0.45. The securities issued under the Offering will be subject to a four month hold period in accordance with applicable Canadian securities laws. The warrants are subject to an acceleration clause such that if the closing price of the Company’s shares on the TSX Venture Exchange is at or above $0.65 per share for a period of ten consecutive trading days during the term of the warrants, the Company may accelerate the expiry date of the Warrants to not less than 30 days following the date of notice.
The funds raised in this financing will be used to advance its San Acacio Silver Deposit, currently totaling 17,961,000 silver equivalent ounces at a silver equivalent grade of 192.50 g/t Ag, contained within a zone 1.2km in length and to a depth of 175m. Use of proceeds will be used to commence a drill program and follow up on encouraging drill results to date which continue to expand the mineralization at depth and along strike, and most importantly outside the limits of the current resource. Defiance recently intercepted wide zones of mineralization returning 27 metres grading 203 g/t silver equivalent (see the Press Release dated June 8, 2017), and will be releasing results from an additional five holes shortly. Defiance’s exploration drill results are not included in the current resource.
“We are very pleased and would like thank our shareholders, insiders and management in participating and securing the funds to advance the San Acacio Silver Deposit in becoming a premier silver asset in Zacatecas, Mexico” said Roy Bonnell, CEO of Defiance Silver. “With long term drill permits in place, we can look to commence our next phase of drilling to continue to grow the resource, but also test several targets along the 900m strike extension to the southeast”
Closing of the Offering is subject to receipt of all the required regulatory approvals including the approval of the TSX Venture Exchange. The Company may pay finder’s fees in compliance with TSX Venture Exchange policies on some or all of the Offering.
A Panoramic Video on the San Acacio Deposit is available on our website, or Click Here to visit our Defiance YouTube Channel. Defiance Silver Corp. is a silver explorer and developer advancing the San Acacio Deposit, located in the historic Zacatecas Silver District of central Mexico. Defiance is managed by a team of proven mine developers with a track record of exploring and developing seven operating mines to date. Defiance’s corporate mandate is to expand San Acacio to become one of Mexico’s premier high grade wide vein silver deposits.
Mr. Bruce Winfield, P.Geo., 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.
On behalf of Defiance Silver Corp.
Roy Bonnell, President & CEO
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.
Defiance Silver Corp.
Sunny Pannu
Corporate Development
(604) 669 7315
pannu@defiancesilver.com
Defiance Silver Corp.
2300 – 1177 West Hastings Street
Vancouver, BC V6E 2K3
604-669-7315
info@defiancesilver.com
www.defiancesilver.com
- Published in Defiance Silver, Mining, News Home
Defiance Appoints New President and CEO
Momentum Public Relations
Press Release: July 26, 2017
Vancouver, British Columbia–(Newsfile Corp. – July 26, 2017) – Defiance Silver Corp. (TSXV: DEF) (OTC: DNCVF) (“Defiance”) is pleased to announce the appointment of Mr. Roy Bonnell to the position of President and CEO. Mr. Bonnell has over 20 years of experience in venture capital investment, finance and mergers & acquisitions. Mr. Bonnell provides Defiance with the financing and management abilities necessary to rapidly advance and grow the San Acacio Silver deposit in Mexico.
From 2007-2015, Mr. Bonnell served as President and CEO of Argex Titanium Inc., overseeing its rapid expansion from a mining exploration company to an emerging specialty chemical producer. Argex grew to be the Second Best Performing Mining stock on the Venture’s 2013 Top 50 list. From 2005-2009, he was Managing Director & Founder of Atwater Financial Group, an independent financial and strategic advisory service. He also served at investment dealers and merchant banks including Dundee Securities Limited, Hampton Securities Limited, Benvest Associates Inc. and Two Roads Investments Inc.
Mr. Bonnell is a graduate of the London School of Economics (1995) where he received a M.Sc. in Accounting and Finance; McGill University (1993) where he received a MBA, University of Western Ontario (1991) where he received an LL.B and Queen’s University where he received a B.A.H. (Political Studies). He has been a member of the Law Society of Upper Canada since 1996.
“Defiance’s San Acacio Silver Deposit is on track to become one of Mexico’s premier high grade wide-vein silver deposits,” commented Mr. Bonnell. “I look forward to working with the company’s experienced technical and management team in advancing San Acacio further as the project’s significant exploration potential remains open along strike and at depth. Our goal is to aggressively drill and grow the resource at San Acacio.”
Defiance also announces the resignation of Mr. Bruce Winfield. The Board wishes to thank Mr. Winfield for his hard work and dedication as President, CEO and Director over the past 6 years. Mr. Winfield has agreed to stay on as an advisor to ensure a smooth transition.
Defiance has granted under its Stock Option Plan, options to purchase an aggregate of 300,000 common shares to officers of the company. The options are exercisable for 5 years at an exercise price of $0.31 per share.
A Panoramic Video on the San Acacio Deposit is available on our website, or Click Here to visit our Defiance YouTube Channel. Defiance Silver Corp. is a silver explorer and developer advancing the San Acacio Deposit, located in the historic Zacatecas Silver District of central Mexico. Defiance is managed by a team of proven mine developers with a track record of exploring and developing 7 operating mines to date. Defiance’s corporate mandate is to expand San Acacio to become one of Mexico’s premier high grade wide vein silver deposits.
On behalf of Defiance Silver Corp.
“Peter J. Hawley“
Chairman of the Board, Director
For more information, please contact: Sunny Pannu — Corporate Development (604) 669 7315 or via email at pannu@defiancesilver.com.
2300 – 1177 West Hastings Street Vancouver, BC V6E 2K3 |
www.defiancesilver.com Tel: 604-669-7315 Email: info@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.
- Published in Defiance Silver, Mining, News Home
Defiance Drills 27 Metres Grading 203 G/T Silver Equivalent
Momentum Public Relations
Press Release: June 8, 2017
Vancouver, British Columbia–(Newsfile Corp. – June 8, 2017) – Defiance Silver Corp. (TSXV: DEF) (OTC: DNCVF)(“Defiance”) is pleased to announce the results of the first drill hole from its ongoing drill program at the San Acacio Silver Project, located in Zacatecas, Mexico. The drill hole targeted the Esperanza Zone and successfully intersected high grade silver over a width of 27.03 meters of hydrothermal breccia and veins assaying 202.99 g/t AgEq. This hole has extended known mineralization to over 85 metres below the current resource.
Results indicate that the Veta Grande Vein system is splitting into multiple veins at depth as detailed in the table below:
Hole # | From (m) |
To (m) |
Length (m)** | Ag, g/t |
Au, g/t |
Cu, {92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} |
Pb, {92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} |
Zn, {92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} |
AgEq, g/t* |
SAD17-12 | 226.62 | 253.65 | 27.03 | 148.21 | 0.29 | 0.02 | 0.13 | 0.67 | 202.99 |
including | 226.62 | 234.20 | 7.58 | 212.91 | 0.05 | 0.01 | 0.06 | 0.26 | 230.03 |
including | 238.00 | 243.00 | 5.00 | 230.69 | 0.51 | 0.04 | 0.43 | 1.68 | 354.97 |
including | 247.60 | 253.65 | 6.05 | 122.07 | 0.74 | 0.01 | 0.09 | 1.04 | 222.59 |
*Reported for comparison only, with no assumptions regarding metal recovery or smelter payments. Prices used are Au: $1210.50/ounce, Ag: $16.33/ounce, Cu; $2.80/pound, Pb; $0.83/pound and Zn $0.95/pound. US dollars.
1 Gram = 0.03215074657 Troy ounce
**True Widths are approximately 80{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} of each intersection
“We are excited that the recently announced drill program has already returned one of the widest intercepts ever drilled at San Acacio. The results demonstrate that wide vein widths and high grades continue at depth and along strike at the San Acacio Silver Deposit. We look forward to releasing further results as drilling proceeds along the 1.2 km of historic workings as well as the newly defined Quartz-Pyrite Breccia target, all which have the potential to substantially increase the size of the current resource.” said Bruce Winfield, President and CEO of Defiance Silver Corp.
Two more holes are planned within the Esperanza Zone to test the down dip extension of the mineralization in diamond drill hole SAD17-12. Additional targets to be tested are the Almaden Zone below previous drilling that returned 8.3m grading 278 g/t AgEq with mineralization open to depth.
A third target that will be tested is the Quartz-Pyrite Breccia that was discovered in the Guadalupe area of the project. The Breccia exhibits signs that it may represent a completely new system richer in gold and zinc mineralization.
Exploration efforts are being conducted under the direct supervision of Rick Tschauder, B.Sc. Defiance’s Consulting Geologist. President and CEO Bruce Winfield P.Geo, a qualified person as defined by NI 43-101, is responsible for the program and preparation of the above information.
A Panoramic Video on the San Acacio Deposit is available on our website, or Click Here to visit our Defiance YouTube Channel. Defiance Silver Corp. is a silver explorer and developer advancing the San Acacio Deposit, located in the historic Zacatecas Silver District of central Mexico. Defiance is managed by a team of proven mine developers with a track record of exploring and developing 7 operating mines to date. Defiance’s corporate mandate is to expand San Acacio to become one of Mexico’s premier high grade wide vein silver deposits.
On behalf of Defiance Silver Corp.
“Bruce Winfield”
President and CEO
For more information, please contact: Sunny Pannu — Corporate Development (604) 669 7315 or via email at pannu@defiancesilver.com
2300 – 1177 West Hastings Street
Vancouver, BC V6E 2K3
www.defiancesilver.com
Tel: 604-669-7315
Email: info@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.
- Published in Defiance Silver, Mining, News Home