Defiance drills 3.55 m of 355.32 g/t Ag at Zacatecas
Defiance Silver Hits High-Grade Veins at Zacatecas, Validating Resource Model Amid Heavy Warrant Overhang
The most recent news (February 20, 2026) reports high-grade silver drilling results from the ongoing 10,000-meter diamond drill program at the Zacatecas project (San Acacio). Significant intercepts include hole DDSA-25-76, which returned 3.55m of 355.32 g/t Ag and 3.07m of 579.27 g/t Ag. To date, the company has completed 2,553 meters (12 holes) of the planned 10,000 meters. The program aims to validate the geological model and infill poorly drilled zones in preparation for an upcoming Mineral Resource Estimate (MRE).
The impact is Material - Positive for the following reasons: - Grade Quality: Intercepts exceeding 500 g/t Ag over 3 meters are high-grade and confirm the presence of high-value mineralized structures in the Veta Grande system. - Model Validation: The results successfully validate the company’s identification of three distinct structural blocks (NW, Central, SE), which is critical for a reliable MRE. - Exploration Momentum: Only ~25% of the 10,000-meter program has been reported, suggesting a steady stream of catalysts over the coming months. - Project De-risking: Following the resolution of previous legal disputes at the Tepal project (March 2024), management has successfully pivoted focus back to Zacatecas, showing operational consistency.
However, the materiality is tempered by the fact that true thicknesses are estimated at only 50-80% of downhole width, and two of the five holes reported (DDSA-25-73 and 74) returned no significant results, highlighting the vein's narrow and potentially "nuggety" nature.
Defiance Silver is an exploration-stage company focused on Mexican silver and copper-gold systems. - Flagship Project: Zacatecas (San Acacio), located in the historic Zacatecas Silver District. It targets the Veta Grande vein system. - Secondary Project: Tepal (Michoacán), a copper-gold porphyry with an existing MRE (2024) of 111.67Mt M&I. - Tertiary Assets: Green Earth Metals portfolio (Sonora), acquired in 2025, focused on copper-gold-molybdenum.