en.Wedoany.com Reported - Mineral exploration company Defiance Silver Corp. announced that, through its Mexican subsidiary Minera Santa Remy S.A., it has paid the final option payment for the San Acacio mining concession, obtaining 100% ownership of the claim. Defiance considers this a core asset of its Zacatecas silver project, located in the state's iconic silver mining district.

The San Acacio mining concession covers the Veta Grande vein system, which has a centuries-old mining tradition. The consolidated land encompasses approximately 50% of the historical mining operations within this vein system, extending about two kilometers. As part of the project expansion, Defiance also acquired two new parcels of land within the concession area, totaling approximately 24 hectares.

To secure full control of this asset, Defiance paid a final installment of $2,300,000 to the local seller. Under the original agreement, the seller retains a 2.5% net smelter return (NSR) royalty. Defiance retains the right to fully repurchase this royalty for $2,500,000.

Currently, Defiance is in the final stages of a 10,000-meter drilling program at the Zacatecas project. The program aims to confirm the extent of surface and deep mineralized structures and validate the geological model in preparation for the next mineral resource estimate. Chris Wright, Chairman and CEO of Defiance Silver, stated that this milestone transforms the company into an unencumbered exploration company with full control over its flagship project in Mexico.