Vancouver, British Columbia–(Newsfile Corp. – 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 [email protected]
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.