Defiance Silver Corp. (“Defiance”) is pleased to announce that it has completed its acquisition of MAG Silver Corp.’s (“MAG”) Zacatecas Silver District holdings and its regional exploration database covering 135,000ha (see News Release dated June 13, 2018). As consideration for the sale, Defiance issued 5,000,000 shares to MAG. The shares are subject to an eighteen month hold period ending December 22, 2019. When necessary, MAG agrees to vote its shares owned in accordance with the recommendations of the management of Defiance.
“We are very pleased to have closed this transaction with MAG Silver, and further expand our presence in the Zacatecas Silver District”, stated Peter J. Hawley, President and CEO. “With significant exploration potential at the San Acacio project, we look forward to continuing our examination and interpretation of the large regional exploration database.”
The Lagartos Project consists of 14 concessions totaling approximately 800 hectares. 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.
About Defiance Silver Corp.
Defiance Silver Corp. (DEF | TSX Venture Exchange; DNCVF | OTC; D4E | Frankfurt) 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. APanoramic 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 [email protected]
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Vancouver, BC V6E 2K3
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