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Monday, April 23, 2018

Defiance Silver - I couldn't release the San Acacio drill results as.....

“Ahh, I thought it was in my bag, but it looks like I’ve left it at home by accident!”

“My computer crashed and I didn’t save my work!”

“I’ve been busy with extra-curricular activities and volunteering work”

“I’ve been so ill over the past few days, so I haven’t been able to look at the drill results”

"My mom CEO and dad CFO got in a huge fight last night"

"I tried writing the release, but I failed to understand the results"

"I was in a hurry, so I mistakenly left my laptop in my wife’s car, and now she’s in the office across town"

Or the least likely option - tell the truth:

"We don't want release the results, because they are shit. We hit nothing, the structure wasn't mineralized and we don't want to tell you as you'll abandon us like rats leaving a sinking shit ship"

Quick San Acacio Time line:
  • 31st October 2017 - commencement of 5,000m drill program (link)
  • 28th Feb, 2018 - Identifies a Large target (link) - PDAC promo PR
    • Prelim results from first 2000m of drilling - hit anomalous silver (i.e. nothing).
  • Here we sit 174 days later, no results....
By my estimates, Defiance should have drilled ~3000m by now, so 60% of the program done, and no assays reported, might as well wait until the end of the program, and release a phase 1 summary PR....


2 comments:

  1. San Acacio is a retread, Silver Standard to Sterling Mining (went bankrupt) to Source Exploration (now Mexican Gold) to Defiance and still it doesn't have anything worth anything. How Defiance can have a C$40 million market cap is beyond me. A true POS project.

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    Replies
    1. The deposit isn't good enough, Sterling Mining used to mine the back-fill and process it at their Barones Tailings facility a few KM away. Source didn't really do anything, a few underground drill-holes, and a similar story with Defiance.

      What is funny is that next door (the NW continuation of the vein), Santacruz are doing a great job at being useless and loosing huge amounts of money at Contracuna.

      Unfortunately, none of them, since Silver Standard, have actually done a proper job at San Acacio, probably because the remnants of the Veta Grande are crap. They could do a couple of holes into the other splay veins on the property as Endeavour seem to be getting some decent results from the Calicanto vein system, that is a splay off the main Cantera vein.

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