Defiance Silver Corp (DEF:TSE-V) is pleased to announce that it has decided to focus its efforts on the exploration and expansion of the San Acacio silver mine in Zacatecas for which Defiance has an option to acquire a 100% interest. The San Acacio Mine controls over 65% of the Veta Grande Vein which has historically produced in excess of 200 million oz. of silver. In addition to its current resource within the existing mine workings, Defiance has outlined a number of targets that based on historical drilling and sampling results, appear to be both larger and higher grade than initially anticipated.
The San Acacio mine has excellent exploration potential to significantly expand the current resource as mineralization is open to depth below the historic production stopes as well as along strike for 4.6 km. The Veta Grande Vein is one of the three major vein systems in the Zacatecas Silver District. Located 5 km north of the city of Zacatecas, the San Acacio Mine enjoys the advantages of excellent infrastructure including a skilled local work force, road access, and access to the national power grid.
As part of its focus on resource definition, Defiance has decided to terminate its option agreement with IMPACT Silver Corp for the acquisition of the Santa Gabriela processing plant and associated surface rights and concessions located in Zacatecas, Mexico.
About Defiance Silver Corp.: Defiance is engaged in the acquisition, exploration, and development of advanced silver projects in the Zacatecas Silver District, Mexico. The Company’s efforts are focused on: the exercising of an option to purchase a 100% interest in the historic San Acacio Mine with its 43-101 compliant silver resource (reference Defiance Silver Corp New release dated October 25, 2012).
Mr. Bruce Winfield, P. Geo., President and CEO of the Company, is the Qualified Person for information contained in this press release. Mr. Winfield is a Qualified Person within the meaning of NI 43-101.
On behalf of the Directors,
President and CEO
For additional information please visit the Company’s website at www.defiancesilver.com.
Neither the 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
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