Vancouver, British Columbia--(Newsfile Corp. - March 2, 2016) - Defiance Silver Corporation (TSXV: DEF) (OTC: DNCVF) ("Defiance") is pleased to report the results of a further three holes drilled at the San Acacio silver deposit. Drilling 550m southeast of the last 8 reported drill holes intercepted wide zones of mineralization in both the Veta Grande and Veta Chica veins. Results from these holes extend the known mineralization to 140m below the current resource (see News Release Dated January 15, 2015) with mineralization still open to depth and along strike.
Drill hole SAD15-10 intersected the San Acacio vein over a length of 11.95m. Three zones straddling two old mine workings returned; 2.1m grading 333.87 g/t AgEq, 5.5m grading 187.06 g/t AgEq, and 1.6m grading 99.55 g/t AgEq. Hole SAD15-09 intersected the San Acacio vein over a length of 7.65m that includes a 3.05m wide old working where it is believed the high-grade portion of the vein had been mined.
Both drill holes SAD15-09 and SAD15-10 intersected the hanging wall Veta Chica Vein. SAD15-09 returned 15.65m grading 68.76 g/t AgEq with a 4.85m section grading 128.71 g/t AgEq. SAD15-10 returned 1.6m grading 110.50 g/t AgEq.
The workings intersected in both holes SAD15-09 and SAD15-10, are believed to represent the higher grade portions of the 7.65m and 11.95m long intersections of the San Acacio vein that were historically mined.
Bruce Winfield, CEO of Defiance stated, "I am very encouraged by the drill results having again extended the high grade, wide zones of mineralization to 140m below the base of the current resource. These drill intersections demonstrated the robustness of the vein system as we move over 550m along strike. "
In all three holes, SAD15-09, SAD15-10, and SAD15-11, the vein intercepts were hosted within a zone defined by long intersections of 55.6m, 110.3m, and 136.4m respectively of a quartz pyrite breccia that is anomalous in silver, zinc and copper. This breccia represents a previously unrecognized hydrothermal event which may indicate a larger hydrothermal system at depth.
Results for holes SAD15-09 through SAD15-11 are provided in the following table:
Hole # | From
(m) | To
(m) | Length
(m) | Ag,
g/t | Au,
g/t | Cu,
% | Pb,
% | Zn,
% | AgEq,
g/t* |
|
| SAD15-09 | 221.00 | 224.05 | 3.05 | Mine opening on Veta Chica |
| SAD15-09 | 226.15 | 241.80 | 15.65 | 65.22 | 0.02 | 0.01 | 0.01 | 0.04 | 68.76 |
| Including | 226.15 | 231.00 | 4.85 | 118.32 | 0.02 | 0.07 | 0.01 | 0.04 | 128.71 |
| SAD15-09 | 263.70 | 266.75 | 3.05 | 40.38 | 0.09 | 0.01 | 0.15 | 0.52 | 72.00 |
| | 266.75 | 269.80 | 3.05 | Mine Opening on Veta Grande |
| | 269.80 | 271.35 | 1.55 | 4.90 | 0.04 | 0.01 | 0.15 | 0.51 | 31.02 |
| SAD15-10 | 282.70 | 284.30 | 1.60 | 100.03 | 0.11 | 0.01 | 0.01 | 0.03 | 110.50 |
| SAD15-10** | 331.50 | 343.45 | 11.95 | Veta Grande vein |
| Including | 331.5 | 333.6 | 2.1 | 283.31 | 0.17 | 0.01 | 0.38 | 0.70 | 333.87 |
| ** | 333.60 | 335.65 | 2.05 | Mine Opening on Veta Grande |
| Including | 335.65 | 341.15 | 5.5 | 96.65 | 0.26 | 0.03 | 0.61 | 1.34 | 187.06 |
| ** | 341.15 | 341.85 | 0.7 | Mine Opening on Veta Grande |
| Including | 341.85 | 343.45 | 1.60 | 19.44 | 0.12 | 0.02 | 0.40 | 1.58 | 99.55 |
| SAD15-11 | 283.50 | 285.00 | 1.50 | 136.03 | 0.03 | 0.02 | 0.03 | 0.06 | 142.73 |
*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. US dollars.
1 Gram = 0.03215074657 Troy ounce
** Grade not calculated because of no data for open mine workings
***True Widths are approximately 70% to 80% of each intersection
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 (https://www.youtube.com/watch?v=DEqtbHzMeYw) is available on our website, or Click Here to visit our Defiance YouTube Channel (http://www.defiancesilver.com/media/video). 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.
"Bruce Winfield"
President and CEO
Neither 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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