Defiance Silver Discovers New Mineralization Zone at San AcacioBy Paloma Duran | Mon, 05/24/2021 - 17:04
Defiance Silver published an update to its drilling program at its Zacatecas silver project and announced the discovery of a new zone of mineralization in the core of its Veta Grande vein system.
Defiance Silver's main project, the San Acacio Silver Deposit, is located in Zacatecas and has 24 mining concessions. The project runs along the Veta Grande vein system, considered an epithermal silver-gold deposit.
"San Acacio has a current estimate of inferred mineral resources of 16.97 M oz silver (17.76 M oz AgEq) grading 181.94 g / t silver (192.5 g / t AgEq) with a limit 100 g / t AgEq." Its metal distribution varies, however, the Veta Grande system is mainly silver with gold and base metals.
Douglas Covey, Defiance Silver's Vice President of Corporate Development said in an interview with MBN that both of the company's projects in Mexico have very successful exploration and development lifelines, especially since they are located in Zacatecas, a mining region that truly understands mining.
Defiance Silver explained that its current drilling program is a continuation of the previously numbered drill holes. The company is currently drilling DDSA-21-45 and has announced positive results coming from the holes DDSA-21-35-38, which together drilled 1,496m.
DDSA-21-35 intersected high-grade silver and DDSA-21-36 multiple silver mineralization zones, meanwhile, DDSA-21-37 returned multiple high-grade results, “including 1.85 meters of 1157 g / t AgEq. within a broader intersection of 8.22m of 333 g / t AgEq and DDSA-21-38 returned 9.56m of 180 g / t AgEq.” The data collected from these holes and the updated modeling will be used to further study the newly located mineralization zone, the company reported.
Chris Wright, Defiance Silver´s Chairman & CEO, said the drilling program has demonstrated the exploration and resource potential for the project. “We have always felt the principal structures were inadequately tested both along strike from previous drilling and also at depth. We are encouraged by these results, some of which are the highest-grade silver results that Defiance has drilled to date at San Acacio.”
Wright added that the drilling program will continue to define the structure up and down to test the vertical profile of the Veta Grande structure. These results are expected to be published in 2021.
Defiance announced that its next steps are to increase the drilling program from 5,000 m to 10,000 m; more district-scale surface exploration, mapping and sampling at the Lucita project; re-registering historic drill holes and obtaining more permits for additional exploration at San Acacio and the phase 1 drilling at Lucita.
Covey told MBN that the company has already completed more than 5,000m and is excited to continue drilling, integrating data, analyzing it and increasing the value of the project. Defiance has a portfolio of targets that will be tested with a 10,000m program, including part of the acquisition it made with Pan American Silver to acquire their Zacatecas district landholdings.