Defiance Silver Corp. (“Defiance” or the “Company”) is pleased to report that results from a further three holes drilled in its Phase I core drilling program on the San Acacio deposit have extended the wide, high grade mineralization encountered in the first three holes eastward by 100m (see News Release dated January 29, 2015). Phase I is designed to test for a continuation of mineralization at depth and along strike beyond the current resource and the workings of the past producing San Acacio mine.
Holes SAD14-04 and SAD14-07 intersected the San Acacio vein over wide widths of high grade mineralization (results in table below). These results extend by 100 meters to the SE the area of high grade mineralization intersected by the Company’s initial three holes. All five holes are below the limit of the existing resource and, will further increase the existing resource. Additionally, routine geochemical sampling defined highly anomalous values over 20m in the upper part of hole SAD15-07 which will be systematically sampled and assayed.
Although the Phase I drill program was primarily designed to test for the extension of the San Acacio vein, Hole SAD15-8 also intersected high grade mineralization grading 674 g/t AgEq over a width of 7.25m in a possible extension of the Navidad vein. Additional work is required to further define this exciting newly identified wide high grade mineralized structure.
Bruce Winfield, President and CEO of Defiance stated, “We are very pleased that these results have extended to the east, the zone of high grade mineralization over wide widths. These results continue to be proof of our strong belief that additional resources can be defined below the current resource limits with mineralization open along strike and down dip. With 100 million ounces of silver produced historically, any extension at depth or along strike could ultimately add a significant amount of ounces.”
These new drill results were not included in the updated NI 43-101 resource estimate that was recently released (see News Release dated January 15, 2015). Of interest is that the Silver Equivalent grades returned continue to be considerably higher than those employed in the resource and provide for the opportunity to expand Defiance’s resource subject to the results of further drilling.
Results are provided in the following table:
*True Widths are approximately 70% to 80% of each intersection
**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 $0.95/pound in US$
Exploration efforts are being conducted under the direct supervision of Rick Tschauder, B.Sc. Defiance’s Vice President Exploration. 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 11 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. For more information on the property or Defiance, please visit Defiance’s website at www.DefianceSilver.com.
On behalf of Defiance Silver Corp.
President and CEO
1610 – 409 Granville Street
Vancouver, BC V6C 1T2
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