The Zacatecas mining district has produced over 1 billion ounces of silver, said Defiance Silver's VP of corporate development, Douglas Cavey.
Cavey spoke to Kitco in mid-June at the Deutsche Goldmesse conference in Frankfurt, Germany. Cavey was joined by the company's CEO Chris Wright. The Zacatecas silver mining district is located in north-central Mexico. Defiance Silver's holdings within Zacatecas include San Acacio, Lucita, and Lagartos projects.
Defiance's project is near some large silver producers: the polymetallic Cozamin mine operated by Capstone Mining and the Fresnillo silver mine, the world's largest primary silver mine operated by Fresnillo.
Cavey said the project is favored by good infrastructure, such as power, water, paved road access and favorable topography. The company's projects are just eight-kilometres north of Zacatecas City and Guadalupe. There is a strong mining culture with a skilled workforce nearby.
Mapping, sampling, and drilling confirm numerous silver occurrences on the properties and indicate that there are also several untested bases and precious metals targets, said the company. The project's current NI 43-101 mineral resource estimate comprises 16.9 million ounces of silver at 182.42 g/t silver in the inferred category.
Cavey is most excited about an emerging vein system from property acquired from Pan American Silver.
"We think this is the most exciting thing we've done in Zacetacas," said Casey.
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Kitco's coverage of Deutsche Goldmesse was sponsored by Defiance Silver.
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