Defiance Silver drills 217 g/t AgEq over 33.76 metres at San Acacio, Mexico

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Defiance Silver Corp. [TSXV-DEF; OTCQX-DNCVF; FSE-D4E] has released the results of the 2023 San Acacio diamond drill program, Mexico, which returned wide intervals of well-developed silver, zinc and lead mineralization, with elevated gold and copper values. This release contains results from DDSA-23-67 through DDSA-23-72.

Additional drilling within the resource area has demonstrated that significant in situ vein material, including semi-massive to massive sulphide phases, remain in place at shallow levels of the historic mine in the Almaden zone. Previous drilling was not undertaken at these levels because it was incorrectly believed that no in situ material remained.

The company is also highly encouraged by the intersection of notable epithermal-style silver mineralization at the deepest drilled levels of the Veta Grande system to date at the San Acacio project. Despite significant downhole deviation from the target, anomalous (approximately 100 grams per tonne (g/t) silver equivalent (AgEq)) mineralization was hit 61 metres below the deepest known workings at the historical San Acacio mine.

Highlights – Almaden zone: DDSA-23-68 returned 7.79m of 391 g/t AgEq (from 53.26m to 61.05m) within a 12.82m interval grading 310 g/t AgEq with 223.53 g/t Ag from (53.26m to 66.08m).

DDSA-23-69 – encountered 32.32m of 195 g/t AgEq from (43.18m to 75.50m), including 6.39m of 316 g/t AgEq with 4.56% Zn, 1.70% Pb, 0.26% Cu (from 69.11 to 75.50m) hosted in a base-metal rich semi-massive to massive sulphide mineralization phase. Copper values were not included in the AgEq calculation for this release.

DDSA-23-70 returned 15.02m of 353 g/t AgEq (from 86.96m to 101.98m) within a longer interval of 33.76m grading 217 g/t AgEq (from 73.44m to 107.20m). This includes a 4.47m interval of 265.31 g/t Ag, 0.75 g/t Au, 5.10% Pb, 3.29% Zn, 0.31% Cu from 91.44m and a 0.62m subinterval of 1345 g/t Ag from 91.44m.

Increasing copper grades and the presence of semi-massive to massive sulphide mineralization near surface is encouraging, particularly given the location of the San Acacio project. The project is adjacent to Capstone Mining’s Cozamin Cu-Ag mine, an operating copper mine located approximately 3km away.

Both in-situ and previously-mined material (backfill) were encountered in this zone. Backfill represents significant mine/mill feed in operating mines in Mexico. Previously-mined material drilled in the holes reported in this release is on par with material currently being mined in the district.

San Acacio SE: DDSA-23-72 represents the deepest interception of the VG system at the San Acacio project to date and encountered anomalous epithermal-style silver mineralization, including 0.97m of 130 g/t AgEq and 117.00 g/t Ag from (655.02m to 655.99m), within 1.76m grading 94 g/t AgEq from (654.23m to 655.99m).

Chris Wright, Chairman and CEO, commented: “We continue to be impressed by the strength of mineralization in the Veta Grande system both near-surface and at deeper levels. Our understanding of the mineralization controls continues to guide both resource development and resource expansion drilling. Follow-up drilling at San Acacio will focus on adding ounces within the resource area – including recently-identified zones likely to contain shallow, intact mineralization – and on further testing the deep extensions of the Veta Grande system.”

A precious and base-metal-rich intercept of the Veta Grande returned 33.76m of 217 g/t AgEq (from 73.44m to 107.20m), including 15.02m of 353 g/t AgEq (from 86.96m) within the intact, in-situ portion of the VG. Included in this zone is an intercept of 4.47m of 574 g/t AgEq from 91.44m, which contains high-grade polymetallic mineralization of 265.31 g/t Ag, 0.75 g/t Au, 5.10% Pb, 3.29% Zn, and 0.31% Cu hosted in a semi-massive to massive sulphide phase. This mineralization phase appears to be correlated with increasing copper grades. The highest grades of lead and copper to date at San Acacio were encountered in this hole (0.33m of 13.9% Pb and 0.87% Cu from 92.06m); a 0.62 m interval with 1345 g/t Ag was drilled from 91.44m.

DDSA-23-71 was targeted to test the eastern extent of the Almaden zone and investigate potential structural offsets. The hole encountered 4.28m of 143 g/t AgEq in a hanging wall veinlet-array zone above the Veta Grade. It also intercepted the Veta Grande structure ~65m down-dip of DDSA-23-70. An interval of 5.06 m of 139 g/t AgEq was encountered in the Veta Grande, including 0.55m of 605 g/t AgEq.

DDSA-23-67 was drilled directly southeast of the resource area near the end of the historic San Acacio mine. This hole was drilled to collect the oriented structural data required to advance the structural model in the southeast zone, which is an area of structural discontinuity. Several anomalous zones were encountered.

Defiance Silver is advancing the district-scale Zacatecas project in the historic Zacatecas Silver District and the Tepal Gold/Copper Project in Michoacan state, Mexico.

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