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Defiance Acquires Option on Pan American Silver's Lucita Property; Significantly Expands Zacatecas Projects
Vancouver, British Columbia--(Newsfile Corp. - December 2, 2020) - Defiance Silver Corp. (T...
About this update from Defiance Silver Corp.
[{"type":"text","content":"Defiance Acquires Option on Pan American Silver's Lucita Property; Significantly Expands Zacatecas ProjectsVancouver, British Columbia--(Newsfile Corp. - December 2, 2020) - Defiance Silver Corp. (TSXV: DEF) (OTC: DNCVF) (\"Defiance\" or the \"Company\") is pleased to announce that it has entered into a definitive option agreement with Pan American Silver Corp. (\"Pan American\") to acquire a 100% interest in Pan American's Lucita property, located adjacent to Defiance's San Acacio project (Figure 1). If the option requirements are satisfied and the option is exercised by the Company, this acquisition would nearly triple the land position of Defiance in the historic Zacatecas silver district to over 4,300 Ha and contains some of the most prospective targets in the camp. Highlights of the Acquisition Include:Defiance's Zacatecas District landholding interests increased from 1,600 Ha to over 4,300 Ha, including more than 10 known veins that returned drill results including 3.25m of 325 g/t Ag and 1.25m of 775 g/t Ag (Figure 1).Acquired the on-strike extension of Zacatecas Silver Corporation's 19 million ounce Ag-Equivalent Panuco Deposit (see full disclosure below).Lucita hosts the undrilled Palenque vein structure, a 12 metre wide structure that has a 4km strike length and has return historical in situ grab and dump samples ranging from 25g/t Ag to over 700g/t Ag (Figure 2). Other priority high-grade vein structures also exist on the southern license area. Chris Wright, Executive Chairman & CEO, commented: \"Our exploration team has continued to advance our district exploration model, as it has yielded favorable targets throughout the Zacatecas Camp. The Lucita option represents a key milestone for Defiance Silver in establishing a district-scale land package at our Zacatecas projects and furthering our exploration thesis and strategy in the district. Not only does this project contain historical high-grade drill results with demonstrable exploration targets at depth and on-strike, it also has discovery potential at the multi-kilometre long Palenque structure.\"Figure 1 - Defiance's Zacatecas District Land PositionTo view an enhanced version of Figure 1, please visit:https://orders.newsfilecorp.com/files/2950/69340_9c3b210f6468286e_001full.jpgProperty OverviewThe 2,674 Ha Lucita project is characterized as a low to intermedia...