Defiance’S Phase 1 Drilling Significantly Expands High Grade Mineralized Envelope at San Acacio
DEFIANCE’S PHASE 1 DRILLING SIGNIFICANTLY EXPANDS
HIGH GRADE MINERALIZED ENVELOPE AT SAN ACACIO
Drilling intersects 3 meters grading 404 g/t AgEq within a longer 10 meter
intersection grading 204.65 g/t AgEq
FOR RELEASE: Oct 24, 2017 TSXV: DEF
OTC: DNCVF
Defiance Silver Corp. (“Defiance” ) is pleased to announce results from the final holes of its
Phase 1 drilling program including a 3 meter intersection grading 404 g/t AgEq within a longer
10 meter intersection grading 204.65 g/t AgEq. Defiance commenced its 5000m drill program to
test the extension of the San Acacio Deposit at depth. Including the final holes, Phase 1 has
extended mineralization up to 230 meters below the current resource.
“We are very pleased with our continued exploration success at San Acacio. The Phase 1 results
significantly expanded the mineralized envelope o f the San Acacio silver deposit. Mapping and
mineralogical studies indicate that the mineralized system hosting the San Acacio deposit is
tilted to the southeast. This suggests that drilling along strike could result in the discovery of new
mineralized zones containing the full vertical extent of the mineralizing system. Our next step is
to prepare for the commencement of an aggressive Phase II drill program targeting new high
grade shoots within the 900 meter extension of the Veta Grande vein system to the southeast of
the San Acacio deposit.” stated Roy Bonnell, President and CEO of Defiance Silver Corp.
Along the entire Veta Grande vein, which pinches and swells alo ng strike, approximately 200
million ounces of silver was historically produced from high grade shoots in the swells.
Defiance’s portion of the Veta Grande vein has produced an estimated 100M ounces from high -
grade shoots such as those that host the San Ac acio deposit. Over 4.4 km of Defiance’s 5.6 km
holdings along the Veta Grande vein have not seen historical production nor been systematically
explored. Mapping, sampling and drill ing has indicated that pinching and swelling continues
along strike, pre senting significant potential for the discovery of multiple, new, intact silver
shoots.
Drill holes SAD17-13 and SAD17-14 targeted the Esperanza Zone, extending the mineralization
to depth below drill hole SAD17 -12 which intersected high grade silver over a core length of
27.03 meters of hydrothermal breccia and veins assaying 202.99 g/t AgEq (see News Release
dated June 8, 2017) . Drill hole SAD17-13 extended the wide zone of mineralization returned in
drill hole SAD17-12 with a 10 meter intersection grading 204.65 g/t AgEq. Drill hole SAD17-14
intersected three narrower zones of mineralization before intersecting a fault that displaced the
main vein. Drill hole SAD17 -15 drilled 100 meters to the southeast on the vein intersected high
grade mineralization gr ading 296.30 g/t AgEq over 3.18 meters. Drill hole SAD17 -17, drilled
100 meters farther to the southeast, extended the wide vein intersection of 11.95 meters returned
by drill hole SAD15-10 although mineralization was primarily base metals suggesting that it may
be in the low grade zone between the silver and the silver-base-metal zones.
With the completion of its Phase 1 drill program, Defiance presents highlights from its recent
drilling as part of a complete table of all Phase 1 results (including those previously reported)
Table 1: Phase 1 Drill Results
Hole # From
(m)
To
(m)
Length
(m)
Ag,
g/t
Au,
g/t
Cu,
%
Pb,
%
Zn,
%
AgEq,*
g/t*
SAD14-01 132.50 149.50 17.00 110.21 0.13 0.01 0.11 0.35 139.15
including 134.00 142.10 8.10 222.12 0.22 0.01 0.20 0.53 268.13
SAD14-02 168.50 185.20 16.70 101.11 0.75 0.02 0.14 1.79 235.36
including 168.50 171.70 3.20 419.09 0.82 0.02 0.14 0.30 499.43
including 176.20 182.10 5.90 30.15 1.46 0.03 0.23 4.62 334.68
SAD14-03 194.50 213.30 18.80 21.37 0.42 0.02 0.84 1.10 128.03
including 205.00 213.30 8.30 42.89 0.92 0.04 1.87 2.44 278.33
SAD14-04 143.00 153.10 10.10 100.23 0.56 0.13 0.77 1.61 248.11
including 147.00 153.10 6.10 138.35 0.80 0.19 1.27 1.90 340.41
SAD15-06 178.00 185.30 7.30 109.21 0.13 0.01 0.04 0.09 125.09
SAD15-06 219.50 231.00 11.50 20.06 0.39 0.03 0.04 1.54 114.85
including 224.00 231.00 7.00 19.88 0.57 0.03 0.06 2.35 161.82
SAD15-07 136.40 140.00 3.60 211.49 0.14 0.01 0.11 0.20 234.17
SAD15-07 147.10 149.50 2.40 149.16 0.16 0.02 0.42 1.59 241.55
SAD15-07 185.40 206.50 21.10 70.84 0.24 0.03 0.35 0.77 134.87
including 199.10 206.50 7.40 158.75 0.52 0.07 0.81 1.83 306.68
SAD15-8 106.05 113.30 7.25 631.46 0.43 0.01 0.09 0.22 675.58
SAD15-8 119.50 120.20 0.70 431.95 0.24 0.01 0.21 0.64 483.38
SAD15-8 163.05 163.80 0.75 330.75 0.10 0.01 0.15 0.31 356.81
SAD15-9 221.00 224.05 3.05 Mine Opening on Veta Chica
SAD15-9 226.15 241.80 15.65 65.22 0.02 0.01 0.01 0.04 68.99
including 226.15 231.00 4.85 118.32 0.02 0.07 0.01 0.04 129.64
SAD15-9 263.70 266.75 3.05 40.38 0.09 0.01 0.15 0.52 74.55
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 33.43
SAD15-10 282.70 284.30 1.60 100.03 0.11 0.01 0.01 0.03 110.72
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 0.70 337.75
** 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 1.34 194.32
** 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 1.58 106.88
SAD15-11 283.50 285.00 1.50 136.03 0.03 0.02 0.03 0.06 143.22
SAD 17-12 226.2 253.65 27.03 148.21 0.29 0.02 0.13 0.67 202.99
including 226.2 234.20 7.58 212.91 0.05 0.01 0.06 0.26 230.03
including 238.0 243.00 5.00 230.69 0.51 0.04 0.43 1.68 354.97
including 247.6 253.65 6.05 122.07 0.74 0.01 0.09 1.04 222.59
SAD17-13 261.00 271.00 10.00 171.22 0.08 0.01 0.27 0.42 204.65
including 261.00 264.00 3.00 372.21 0.10 0.01 0.16 0.45 404.03
SAD17-14 308.07 308.67 0.60 139.53 0.40 0.00 1.84 1.09 276.74
314.12 315.00 0.88 213.84 0.30 0.00 0.01 0.00 236.21
318.00 318.30 0.30 477.55 0.46 0.00 0.05 0.17 520.27
SAD17-15 209.82 213.00 3.18 285.04 0.02 0.01 0.05 0.17 296.30
SAD17-17 439.13 440.14 1.01 33.90 0.12 0.01 0.51 3.14 187.85
*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.
**Grade not calculated because of no data for open mine workings.
***True Widths are approximately 70% to 80% of each intersection.
Corporate Update
Defiance is also pleased to announce that it has successfully renegotiated the option payment for
the nex t twelve months at San Acacio. The property vendors have agreed to split the 2017
milestone payment into four equal payments with the last one due in June 2018.
Defiance has retained Momentum Public Relations Inc. (“ Momentum”) to provide investor
relations and corporate development se rvices. Momentum is a public and investor relations
consulting agency and will assist Defiance in increasing p ublic awareness by managing its
corporate communications and marketing activities and facilitating dialogue with its
shareholders, finance profes sionals, analysts and media contacts. The agreement with
Momentum is for a term of six months at $5,500 per month and 300,000 stock options at $0.30
exercisable for a period of two years. The agreement is subject to the acceptance of the TSX
Venture Exchange.
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 recor d of
exploring and developi ng 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.
Mr. Bruce Winfield, P.Geo. consultant to Defiance Silver Corp, is a Qualified Person within the
meaning of National Instrument 43 -101, and has approved the technical information concerning
the Defiance’s material mineral properties contained in this press release.
On behalf of Defiance Silver Corp.
“Roy Bonnell”
President and CEO
For more information, please contact: Sunny Pannu – Corporate Development (604) 669 7315 or
via email at [email protected]
2300 - 1177 West Hastings Street www.defiancesilver.com
Vancouver, BC V6E 2K3 Tel: 604-669-7315 Email:[email protected]
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.