Defiance Silver Corp. Secures Long-Term Access for Tepal Gold-Copper Project Development
- Defiance Silver Corp. has secured a six-year access agreement for the Tepal Gold-Copper Project in Mexico.
- The agreement enables essential exploration, drilling, and engineering studies needed for project development and permit applications.
- CEO Chris Wright highlights the agreement's importance for advancing the Tepal project and enhancing operational capabilities.
Defiance Silver Corp. Secures Long-Term Access for Tepal Gold-Copper Project
Defiance Silver Corp. (TSXV: DEF) has successfully finalized a crucial long-term access agreement for its Tepal Gold-Copper Project in Michoacán, Mexico. Announced on June 16, 2025, this six-year agreement is pivotal for the company as it enables surface exploration, drilling, and essential engineering studies necessary for the project's development. Such activities are critical for gathering the data required to submit permit applications, which are vital for moving forward with the project timeline. The access agreement signifies a strategic advancement for Defiance Silver, allowing the company to leverage its operational capabilities effectively in the region.
Under the terms of the agreement, Defiance will provide annual cash payments indexed to the inflation rate in Mexico, alongside issuing common shares to the surface rights holder. The total value of these share issuances will amount to US$40,000 each year, with a cap set at 1,400,000 shares over the duration of the agreement. For the upcoming year, Defiance plans to issue 201,452 common shares at a deemed price of C$0.27 per share, pending approval from the TSX Venture Exchange. This structured compensation arrangement highlights Defiance's commitment to maintaining positive relations with local stakeholders while advancing its projects.
CEO Chris Wright expresses enthusiasm about this agreement, emphasizing its significance in enhancing the Tepal project's advancement over the coming years. The management team, comprised of seasoned mine developers, focuses on capital-efficient exploration aimed at resource growth and new mineral discoveries. With the Tepal Gold-Copper Project now positioned for critical exploration and development activities, Defiance Silver is poised to make significant strides in its operational capabilities, further solidifying its role in the mining sector.
In addition to the Tepal project, Defiance Silver is also actively advancing the district-scale Zacatecas project, located in the historic Zacatecas Silver District. The company’s dual focus on these projects underscores its strategic intent to tap into the rich mineral potential of the region. As Defiance Silver progresses with its exploration activities, it aims to secure a robust resource base that will support its long-term growth objectives in the competitive mining industry.