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About Defiance Silver Corp.
Defiance Silver Corp. (TSXV: DEF, OTCQX: DNCVF, FSE: D4E) is a Canadian exploration-stage mining company headquartered in Vancouver, British Columbia. The company specializes in the acquisition, exploration, evaluation, and development of mineral properties, with a primary focus on precious and base metals, including silver, gold, and copper. Operating predominantly in Mexico, Defiance Silver is advancing two flagship projects: the Zacatecas Project in the historic Zacatecas Silver District and the Tepal Gold-Copper Project in Michoacán state.
Core Projects
- Zacatecas Project: Located in the Zacatecas Silver District, one of the world's most prolific silver-producing regions, this district-scale project consists of multiple mineralized zones, including the San Acacio Silver Deposit. The project benefits from its proximity to established mining infrastructure and its location within the Central Mexican Silver Belt, a region known for its high-grade silver deposits. Exploration activities include diamond drilling, geological mapping, and surface sampling to expand resource potential.
- Tepal Gold-Copper Project: Situated in Michoacán, this project is characterized by porphyry-style mineralization containing significant gold, copper, and molybdenum resources. The property includes three distinct deposits—Tepal North Zone, Tepal South Zone, and Tizate—each exhibiting unique geological features. The company recently completed a new Mineral Resource Estimate (MRE) in compliance with NI 43-101 standards, highlighting the project's open-pit mining potential.
Business Model and Strategy
Defiance Silver employs a capital-efficient exploration strategy aimed at maximizing resource growth and identifying new mineral discoveries. The company leverages advanced geological and geochemical techniques, including surface sampling, diamond drilling, and resource modeling, to systematically evaluate its properties. Its experienced management team, with a proven track record in mine development, focuses on de-risking projects through technical studies and compliance with regulatory standards such as NI 43-101.
Industry Context and Competitive Position
Defiance operates within the mining and exploration industry, specifically targeting the Central Mexican Silver Belt, a globally significant mining region. The company competes with other exploration and mining firms but differentiates itself through its district-scale land packages, focus on historic mining districts, and systematic exploration methodologies. By targeting underexplored areas with high historical production, Defiance aims to unlock significant resource potential.
Challenges and Opportunities
Like many exploration-stage companies, Defiance faces challenges such as reliance on external financing, compliance with technical and regulatory standards, and geopolitical risks associated with operating in Mexico. However, the company's strategic focus on high-potential mining districts and its systematic approach to exploration position it well to capitalize on opportunities in the precious and base metals markets.
Commitment to Excellence
Defiance Silver's corporate mandate emphasizes advancing its projects through disciplined exploration and resource growth. By integrating technical expertise, historical data, and modern exploration techniques, the company aims to create shareholder value while contributing to the development of Mexico's mining sector.
Defiance Silver Corp provides an update on technical reports for its Tepal and San Acacio projects. For Tepal, the company is working with Micon International on a new technical report including a new Mineral Resource Estimate (MRE), following resolution of a two-year access restriction due to illegally transferred concessions. The company plans to complete a new preliminary economic assessment in 2025. For the San Acacio project, part of the Zacatecas complex, SGS Geological Services is preparing a revised technical report incorporating all exploration work to date, including 72 drill holes totaling 25,446.62 metres. Both technical reports are expected to be filed by mid-December.
Defiance Silver Corp (TSXV: DEF) (OTCQX: DNCVF) has announced two key developments: First, the extension of its San Acacio Silver Project option payment deadline from September 27 to December 31, 2024, with no changes to economic terms. Second, the acquisition of six new licenses totaling 636.25 hectares near the Tepal project for USD$20,000 + VAT. The new concessions show potential for Au-Cu-Mo mineralization based on regional airborne magnetics and SGM data. Additionally, the company has engaged Torrey Hills Capital for investor relations services at USD$5,000 monthly and issued 52,375 shares for administrative services.
Defiance Silver Corp. (TSXV: DEF) has issued a clarifying news release regarding statements made on July 12, 2024. The company clarifies that its engagement with AXINO Media GmbH for investor relations services began on July 1, 2024, not earlier as previously stated. AXINO is a private investor relations firm based in Germany, specializing in representing resource sector companies in European financial markets.
Additionally, Defiance Silver corrects that an administrative services agreement with an officer of the company, previously described as arm's length, is in fact non-arm's length. The company reiterates its focus on advancing the Zacatecas project in Mexico's historic Zacatecas Silver District and the Tepal Gold/Copper Project in Michoacán state.
Defiance Silver Corp. (TSXV: DEF) (OTCQX: DNCVF) has closed the final tranche of its non-brokered private placement, raising total gross proceeds of C$3,222,615. The offering consisted of units priced at C$0.20, with each unit comprising one common share and half a warrant. Each full warrant allows the purchase of one common share at C$0.35 within 24 months.
The company issued 16,113,075 units in total across two tranches. The net proceeds will fund exploration and working capital. In connection with the offering, Defiance paid C$110,868 in cash commissions and issued 748,453 non-transferable finder warrants. Securities from the final tranche are subject to a four-month hold period expiring November 26, 2024.
Defiance Silver announced the closure of the first tranche of a non-brokered private placement, raising C$2,613,900 through the sale of units at C$0.20 each. Each unit comprises one common share and one-half of a warrant, each warrant exercisable at C$0.35 within 24 months. The proceeds will be used for exploration and working capital.
Additionally, the company paid finder's fees, including C$146,809 in cash and 633,870 non-transferable warrants. Director Ron Sowerby purchased 100,000 units, constituting a related party transaction exempt from formal valuation and minority approval requirements as per Regulation 61-101.
Defiance also entered into a corporate communication service agreement with AXINO Media GmbH for annual payments of €50,000 and additional fees for translation services. The company will issue 52,375 shares at an average price of C$0.179 per share for administrative services provided from January to June 2024.
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