Defiance Silver's Mexican Projects: Technical Reports in Progress

Defiance Silver Corp., a Canadian-based mining company, has recently provided an update on the preparation of technical reports for its Tepal and San Acacio projects in Mexico. The company is committed to ensuring that these reports comply with National Instrument 43-101 (NI 43-101) standards, which are crucial for investors to make informed decisions.

For the Tepal project, Defiance has been working with Micon International Limited to prepare a new technical report, including a new Mineral Resource Estimate (MRE), to replace the previously filed report. The company faced challenges due to a two-year access restriction to the project, which was resolved through legal means. Despite these obstacles, Defiance is on track to file the new Tepal technical report by mid-December.



The new MRE and updated Preliminary Economic Assessment (PEA) for Tepal are expected to enhance the project's economic viability and potential investment value. The redo of the metallurgical work and the update to reflect the increase in metal prices and likely capital costs will provide investors with a more accurate assessment of the project's economics.

However, the lack of compliant mineral resource estimates for the San Acacio project impacts Defiance's overall project portfolio and investment attractiveness. The 2014 report did not comply with NI 43-101, leaving no current mineral resources. Although extensive exploration work has been completed since 2014, this data has not yet been incorporated into a current MRE. Defiance is working with SGS Geological Services to prepare a revised technical report that includes all projects forming part of the overall Zacatecas complex, which includes the San Acacio project.



The additional exploration work completed at San Acacio is significant, as it includes 72 drill holes totaling 25,446.62 meters. This extensive drilling has not been incorporated into the current geological and resource models, making it crucial for the preparation of a revised technical report. By leveraging this new information, Defiance can make better-informed decisions regarding the development and potential value of the Zacatecas complex.

In conclusion, Defiance Silver Corp. is actively working to ensure that the technical reports for its Mexican projects comply with NI 43-101 standards. The new MRE and updated PEA for the Tepal project are expected to enhance its economic viability, while the extensive exploration work completed at San Acacio has the potential to improve the Zacatecas complex's value. Investors should closely monitor these developments to make informed decisions about their investments in Defiance Silver Corp.