On Friday, NIA announced Defiance Silver (TSXV: DEF) at $0.37 per share as its #1 favorite Mexican silver stock suggestion. DEF on Friday afternoon surpassed its key breakout point of $0.385 per share and closed at $0.41 per share. DEF traded strong volume on Friday of 873,086 shares. DEF has a U.S. OTC symbol DNCVF which traded volume on Friday of 1,154,764 shares or nearly quadruple its average daily volume.
Mexico is the world's largest producer of silver and in 2019 accounted for a record high 23.33% of the world's silver production or two standard deviations above its average since 1986 of 16.91% of the world's silver production.
Zacatecas is Mexico's leading silver producing state accounting for approximately 40% of Mexico's silver production. In 2019, the state of Zacatecas alone produced 2,124 metric tons of silver or 51.8% more than the combined silver production of the United States and Canada of 1,399 metric tons.
DEF's past producing San Acacio silver mine in Zacatecas, Mexico has an inferred resource of 2,902,000 tonnes grading 181.94 g/t silver for a contained 16,976,000 oz of silver. San Acacio has historical silver production of approximately 100 million oz.
San Acacio lies along Veta Grande, the most important vein of the Zacatecas Mining District. Veta Grande has historical silver production of over 200 million oz and DEF controls 5.6km or 65% of the entire Veta Grande vein system including 3.9km of the vein that have never been explored.
DEF's maiden silver resource does not include the company's extremely successful 5,000m phase 1 drilling campaign, which extended the mineralized envelope by 230m below the limits of the current silver resource. DEF discovered wide intercepts of very strong silver equivalent grades.
DEF's drill hole SAD14-01 intercepted 8.10m of 268.13 g/t silver equivalent. DEF's drill hole SAD14-02 intercepted 16.70m of 235.36 g/t silver equivalent. DEF's drill hole SAD14-03 intercepted 8.30m of 278.33 g/t silver equivalent. DEF's drill hole SAD14-04 intercepted 10.10m of 248.11 g/t silver equivalent. DEF's drill hole SAD15-07 intercepted 7.40m of 306.68 g/t silver equivalent. DEF's drill hole SAD15-08 intercepted 7.25m of 675.58 g/t silver equivalent. DEF's drill hole SAD17-12 intercepted 27.03m of 202.99 g/t silver equivalent. DEF's drill hole SAD17-13 intercepted 10m of 204.65 g/t silver equivalent.
In recent months, DEF has defined a large number of targets outside of their main resource and the company has just launched a major new 5,000m drilling program. We expect to see DEF rapidly expand their already large silver resource.
Past performance is not an indicator of future returns. NIA is not an investment advisor and does not provide investment advice. Always do your own research and make your own investment decisions. NIA has received compensation from DEF of USD$40,000 cash for a six-month marketing contract. NIA intends to invest into DEF in the event of a future private placement. This message is not a solicitation or recommendation to buy, sell, or hold securities. Never make investment decisions based on anything NIA says. This message is meant for informational and educational purposes only and does not provide investment advice.
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