Defiance Silver's (DEF.V) Informe Preventivo for the Espiritu target at its Green Earth Project in Sonora, Mexico, has been approved by Mexico's Secretariat of Environment and Natural Resources, it said Wednesday.
The approval provides the company with the environmental authorization needed to conduct exploration drilling under applicable Mexican environmental regulations, said the company. It will allow the company to conduct exploration activities for approximately 60 months, including the construction of up to 172 drill platforms and related access roads, Defiance Silver added.
"We look forward to commencing the work program and building on the momentum we have established across our projects," said Chief Executive Officer Chris Wright.
The company's shares were last seen up C$0.01, or 6.1%, to C$0.175 on the TSX Venture Exchange.
Price: $0.18, Change: $+0.01, Percent Change: +6.06%