DEF Expands into Mexico’s Copper-Gold Belt w/ Acquisition In a strategic move aligning with the current surge in precious metal prices, Defiance Silver Corp. (DEF.v or DNCVF for U.S. investors) has entered into a non-binding letter of intent to acquire Green Earth Metals Inc. (GEMS). GEMS is a privately held British Columbia-based exploration firm with a portfolio of copper-gold projects in Mexico’s Sonoran Desert—a region renowned for its rich mineral endowment.
Strengthening the Project Pipeline in Mexico
Defiance Silver is already known for its two core assets in Mexico. The Zacatecas silver project is anchored by the historic San Acacio vein system, while the Tepal project in Michoacn is a large-scale copper-gold porphyry system with a defined resource and notable development upside.
Details of the Sonoran Projects
The planned acquisition of GEMS adds another dimension to Defiance’s portfolio. GEMS controls 6,795 hectares of mineral tenure spread across three projects—Victoria, Espiritu, and Los Ocotes—all located in the mineral-rich Sonoran belt. These projects are near producing operations including Alamos Gold’s Mulatos Mine and Agnico Eagle’s La India Mine, and they lie within the same regional trend that hosts world-class copper deposits such as Cananea and La Caridad operated by Grupo Mexico.
The Victoria project (1,795 ha) is the most advanced of the three, featuring porphyry-style copper-gold-molybdenum mineralization and evidence of surface leaching. It is fully permitted for drilling and will likely be the first target for exploration.
Espiritu (2,711 ha) is an underexplored copper-gold system located roughly 100 km from key regional operations near Sahuaripa. Los Ocotes (2,283 ha), a polymetallic vein system, lies just 18 km from Minera Alamos’ Santana Mine and adds further exploration optionality to the portfolio.
Deal Terms and Strategic Rationale
Under the terms of the proposed transaction, Defiance will issue 4,954,613 common shares priced at C$0.255, valuing the acquisition at approximately C$1.25 million. Additionally, a C$150,000 convertible debenture will be issued, convertible into GEMS shares under specific conditions if the transaction is not finalized.
This acquisition aligns with Defiance’s strategy of positioning itself for the next commodity upcycle through disciplined asset accumulation and a focus on drill-permitted, high-potential exploration targets. With exploration permits already secured, the company plans to initiate fieldwork at Victoria as a first step in unlocking value from these new assets.
Full news release: https://defiancesilver.com/news/defiance-silver-to-acquire-mexico-focused-green-earth-metals
Posted on behalf of Defiance Silver Corp.