Defiance Silver Corp. Stakes 24,500 Ha Claim Over Historic Minerva Mining District
21.02.2012 | Marketwire
VANCOUVER, BRITISH COLUMBIA -- (Marketwire - Feb. 21, 2012) - Defiance Silver Corp (TSX VENTURE: DEF) ("Defiance") is pleased to announce the acquisition by staking of the 24,500 hectare blanket claim covering the historic Minerva Mining District in northern Coahuila State, Mexico. The Minerva Mining District is located 5 km west of the La Encantada Silver mine owned by First Majestic Silver Corp. which is projected to produce over 4 million oz of silver in 2012.The Minerva claim completely surrounds a number of older claims whose historic workings formed the Minerva Mining District which in turn is part of a northeast - southwest trend of four mining districts. The Minerva Mining District consists of carbonate hosted replacement mineralization similar to that at La Encantada as well as numerous occurrences of disseminated mineralization in a granitic stock. Chip sampling from outcrops and grab samples from dumps associated with historic workings on inlier claims returned carbonate hosted manto style mineralization grading 0.15 - 0.45 g/t gold, 270 - 565 g/t silver, 11.1 - 13.6% lead, 0.8 - 16.7% zinc and 0.31 - 0.41% copper. Disseminated style mineralization associated with an intrusive stock returned values of 53 g/t silver, 2.2% lead, 0.11% copper and 7.9% zinc.
The claim has good access from Muzquiz by 165 km of paved and gravel roads with several smaller towns close to the claim providing good infrastructure.
Defiance intends to carry out a preliminary exploration program of satellite imagery analysis, surface sampling and mapping, and geophysics to define drill targets below the shallow pediment cover.
Defiance Silver Corp is a near-term silver producer in Mexico. With a strong team of proven mine finders and developers, Defiance is focused upon being an aggressive explorer and acquirer of exploration and development silver projects in the historic billion-ounce silver producing Zacatecas District.
Bruce Winfield, P. Geo., a Qualified Person under the meaning of Canadian National Instrument 43-101, is responsible for the technical content of this news release.
On behalf of Defiance Silver Corp.
Bruce Winfield
President and CEO
Forward-Looking Statements. This Defiance News Release may contain certain "forward-looking" statements and information relating to Defiance that are based on the beliefs of Defiance management, as well as assumptions made by and information currently available to Defiance management. Such statements reflect the current risks, uncertainties and assumptions related to certain factors including but not limited to, exploration and development risks, expenditure and financing requirements, title matters, operating hazards, metal prices, political and economic factors, competitive factors, general economic conditions, relationships with vendors and strategic partners, governmental regulation and supervision, seasonality, technological change, industry practices, and one-time events. Should any one or more risks or uncertainties materialize or change, or should any underlying assumptions prove incorrect, actual results and forward-looking statements may vary materially from those described herein. Defiance does not assume the obligation to update any forward-looking statement.
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.
Contact Information
Defiance Silver Corp.
Bruce Winfield
President and CEO
778-729-0333
www.defiancesilver.com