Vancouver, British Columbia--(Newsfile Corp. - January 12, 2024) - Silver Elephant Mining Corp. (TSX: ELEF) (OTC: SILEF) (FSE: 1P2) ("Silver Elephant" or the "Company") announces from October 17, 2023 to December 27, 2023, the Company mined a total of 30,844 tonnes of Paca oxide materials with an average grade of 162.2 g/t silver ("Products") and trucked the Products to Andean Precious Metals Corp. ("Andean").
| Paca Material Delivered (t) | Average Grade (g/t) |
October | 4,502 | 244.9 |
November | 7,269 | 156.5 |
December | 19,704 | 144.9 |
Total | 30,844 | 162.2 |
All Products are excavated from the Paca resources tabulated below.
Pursuant to the sales and purchase agreement and master services agreement both dated September 12, 2023 between Silver Elephant and Andean, Andean has agreed to pay Silver Elephant US$1.8 million by January 31, 2024, or when 36,000 tonnes of Products have been delivered to Andean's processing facility.
John Lee, Silver Elephant CEO comments: "The continued progress and activities demonstrated Paca operational scalability at close to 1,000 tonnes per day. Silver Elephant aims to expand and maintain local employment; in addition to contributing to government royalties in the months and years ahead."
The Paca project hosts a high grade silver resource according to a technical report by Mercator Geological Services, dated effective October 13, 2020 titled "Mineral Resource Estimate Technical Report for the Pulacayo Project, Potosi Department Antonnio Quijarro Province Bolivia" (the "Technical Report"). The mineral resource estimate from the Technical Report is as follows:
Paca | Zone | Category | Tonnes | Ag g/t | Ag Moz | Zn% | Pb % |
Phase 1 | Oxide In Pit | Indicated | 800,000 | 231 | 5.9 | - | - |
Inferred | 235,000 | 159 | 1.2 | - | - |
Phase 2 | Sulfide In Pit | Indicated | 1,810,000 | 256 | 14.9 | 1.22 | 1.22 |
Inferred | 190,000 | 338 | 2.1 | 0.61 | 0.98 |
Oxide resources are based on a Pit-constrained estimate using a 90 g/t Ag cutoff. Sulfide resources are based on a pit-constrained estimate using a 200 g/t Ag Eq cutoff. Ag Eq = Silver Equivalent (Recovered) = (Ag g/t*89.2%)+((Pb%*(US$0.95/lb. Pb/14.583 Troy oz./lb./US$17 per Troy oz. Ag)*(10,000*91.9%))+((Zn%*(US$1.16/lb. Zn/14.583 Troy oz./lb./US$17 per Troy oz. Ag)*(10,000*82.9%)). Sulphide zone metal recoveries of 89.2% for Ag, 91.9% for Pb, and 82.9% for Zn were used in the Silver Equivalent (Recovered) equation and reflect metallurgical testing results disclosed previously for the Pulacayo Deposit.Matthew Harrington P. Geo. is the independent Qualified Person for the resource estimate.
The Technical Report was filed on October 26, 2020 and is available under the Company's profile on SEDAR+ at . This news release includes an estimate of mineral resources as disclosed in the Technical Report. Mineral resources that are not mineral reserves do not have demonstrated economic viability.
About Pulacayo-Paca
The Paca project is part of the Company's Pulacayo project with a total indicated resource of 106.7 million oz silver, 1.4 billion pounds of zinc and 690 million pounds of lead published in the Technical Report and tabulated below. Silver Elephant and its subsidiaries have spent over $35 million on Pulacayo and Paca, which is considered to be an advanced project with over 96,000 meters of drilling, and a historic feasibility study.
Combined Pulacayo and Paca Indicated Mineral Resources |
| Tonnes | Ag g/t | Pb % | Zn % |
Oxide | 2,185,000 | 155 | - | - |
Sulfide | 45,855,000 | 65 | 0.69 | 1.37 |
Combined Indicated Mineral Resources includes Pulacayo pit-constrained and out-of-pit plus only Paca pit-constrained resources. Oxide resources use a 50 g/t Ag cutoff. Sulfide resources use a 100 g/t Ag Eq cutoff. Ag Eq = Silver Equivalent (Recovered) = (Ag g/t*89.2%)+((Pb%*(US$0.95/lb. Pb/14.583 Troy oz./lb./US$17 per Troy oz. Ag)*(10,000*91.9%))+((Zn%*(US$1.16/lb. Zn/14.583 Troy oz./lb./US$17 per Troy oz. Ag)*(10,000*82.9%)). Sulphide zone metal recoveries of 89.2% for Ag, 91.9% for Pb, and 82.9% for Zn were used in the Silver Equivalent (Recovered) equation and reflect metallurgical testing results disclosed previously for the Pulacayo Deposit. Matthew Harrington P. Geo. is the independent Qualified Person for the resource estimate.
A subsidiary of Silver Elephant entered into a Mining Production Contract ("MPC") with Corporación Minera de Bolivia ("COMIBOL"), a branch of the Bolivian Ministry of Mining and Metallurgy on October 3, 2019. The MPC grants the Company's subsidiary an exclusive right to develop and mine at the Pulacayo and Paca concessions for up to 30 years.
The Pulacayo Project is at the center of a major silver mining district in Bolivia and is within 250 km driving distance to the San Cristobal mine, the Cerro Rico mine, Pan American's San Vicente mine, Eloro's Iska Iska project, and New Pacific's Silver Sands project.
Qualified Person
The technical contents of this news release have been prepared under the supervision of Bill Pincus, who is an independent consultant of the Company. Bill Pincus is a qualified person as defined by the guidelines of NI 43-101.
About Silver Elephant Mining Corp.
Silver Elephant Mining Corp. is an active silver mining and exploration company advancing its flagship Pulacayo silver project in Bolivia.
不列顛哥倫比亞省溫哥華--（Newsfile Corp.，2024年1月12日）——Silver Elephant公司（TSX：ELEF）（場外交易代碼：SILEF）（FSE：1P2）（“銀象” 或 “公司”）宣佈，從2023年10月17日至2023年12月27日，該公司共開採了30,844噸Paca氧化物材料，平均品位爲162.2克/噸銀（“產品”）並將產品用卡車運送到安第斯貴金屬公司（“安第斯”）。
| Paca 物料已交付 (t) | 平均等級 (g/t) |
十月 | 4,502 | 244.9 |
十一月 | 7,269 | 156.5 |
十二月 | 19,704 | 144.9 |
總計 | 30,844 | 162.2 |
所有產品都是從Paca資源中挖掘出來的，如下表所示。
根據銀象與安第斯於2023年9月12日簽訂的銷售和購買協議以及主服務協議，安第斯已同意在2024年1月31日之前，即36,000噸產品已交付到安第斯加工設施時，向銀象支付180萬美元。
Silver Elephant首席執行官約翰·李評論說：“持續的進展和活動表明了Paca的運營可擴展性，每天接近1,000噸。Silver Elephant的目標是擴大和維持當地就業；此外還將在未來幾個月和幾年中繳納政府特許權使用費。”
根據墨卡托地質服務局於2020年10月13日生效的一份題爲 “玻利維亞安東尼奧·基哈羅省波託西省普拉卡約項目礦產資源估算技術報告”（“技術報告”）的技術報告，Paca項目擁有高品位的銀資源。技術報告中的礦產資源估算如下：
Paca | 區域 | 類別 | 噸 | Ag g/t | Ag Moz | Zn% | 鉛% |
第 1 階段 | 坑中的氧化物 | 已指明 | 800,000 | 231 | 5.9 | - | - |
推斷 | 235,000 | 159 | 1.2 | - | - |
第 2 階段 | 礦井中的硫化物 | 已指明 | 1,810,000 | 256 | 14.9 | 1.22 | 1.22 |
推斷 | 190,000 | 338 | 2.1 | 0.61 | 0.98 |
氧化物資源是根據採用 90 g/t Ag 臨界值進行的 PIT 限制估算得出的。硫化物資源是基於採用 200 g/t Ag Eq 臨界值的礦坑限制估算得出的。Ag Eq = 白銀當量（回收）=（Ag g/t* 89.2%）+（（Pb%*（0.95 美元/磅 Pb/14.583 特洛伊盎司/磅/每金衡盎司銀 17 美元）*（10,000* 91.9%））+（Zn%*（1.16 美元/磅 Zn/14.583 特洛伊盎司/磅/每金衡盎司銀17美元）(10,000* 82.9%)。銀當量（回收）方程中使用了銀的硫化物區金屬回收率爲89.2％，鉛爲91.9％，鋅爲82.9％，反映了先前披露的普拉卡約礦牀冶金測試結果。Matthew Harrington P. Geo. 是資源估算的獨立合格人士。
該技術報告於2020年10月26日提交，可在SEDAR+的公司簡介下查閱，網址爲。本新聞稿包括技術報告中披露的礦產資源估計。非礦產儲量的礦產資源沒有顯示出經濟可行性。
關於 Pulacayo-Paca
Paca項目是該公司Pulacayo項目的一部分，其指示資源總量爲1.067億盎司銀、14億磅鋅和6.9億磅鉛，已在技術報告中公佈，如下表所示。Silver Elephant及其子公司已在Pulacayo和Paca上花費了超過3500萬美元，這被認爲是一個先進的項目，鑽探距離超過96,000米，並且是一項歷史可行性研究。
Pulacayo 和 Paca 聯合指示礦產資源 |
| 噸 | Ag g/t | 鉛% | 鋅% |
氧化物 | 2185,000 | 155 | - | - |
硫化物 | 45,855,000 | 65 | 0.69 | 1.37 |
綜合指示礦產資源包括Pulacayo礦坑受限和礦外資源，僅包括Paca礦坑受限的資源。氧化物資源使用 50 g/t 的銀臨界值。硫化物資源使用 100 g/t Ag Eq 的臨界值。Ag Eq = 白銀當量（回收）=（Ag g/t* 89.2%）+（（Pb%*（0.95 美元/磅 Pb/14.583 特洛伊盎司/磅/每金衡盎司銀 17 美元）*（10,000* 91.9%））+（Zn%*（1.16 美元/磅 Zn/14.583 特洛伊盎司/磅/每金衡盎司銀17美元）(10,000* 82.9%)。銀當量（回收）方程中使用了銀的硫化物區金屬回收率爲89.2％，鉛爲91.9％，鋅爲82.9％，反映了先前披露的普拉卡約礦牀冶金測試結果。Matthew Harrington P. Geo. 是資源估算的獨立合格人士。
2019年10月3日，Silver Elephant的一家子公司與玻利維亞礦業和冶金部下屬的玻利維亞礦業公司（“COMIBOL”）簽訂了礦業生產合同（“MPC”）。MPC授予該公司的子公司在Pulacayo和Paca特許權上進行開發和開採的專有權，有效期最長爲30年。
普拉卡約項目位於玻利維亞一個主要的銀礦開採區的中心，距離聖克里斯托瓦爾礦、塞羅里科礦、泛美的聖維森特礦、埃洛羅的伊斯卡伊斯卡項目和新太平洋的銀沙項目不到250公里的車程。
合格人員
本新聞稿的技術內容是在公司獨立顧問比爾·平庫斯的監督下編寫的。根據北愛爾蘭43-101指導方針的定義，比爾·平庫斯是合格人士。
關於Silver Elephant公司
Silver Elephant Mining Corp. 是一家活躍的白銀開採和勘探公司，正在推進其在玻利維亞的旗艦Pulacayo白銀項目。
