Welcome to our dedicated page for Silver Elephant Mining news (Ticker: SILEF), a resource for investors and traders seeking the latest updates and insights on Silver Elephant Mining stock.
Overview of Silver Elephant Mining Corp
Silver Elephant Mining Corp (symbol: SILEF) is a specialized silver mining company committed to developing and operating advanced silver extraction projects. With a primary focus on the Pulacayo-Paca silver project in Bolivia, the company’s operations span both oxide and sulphide silver production. Conservative in its approach, Silver Elephant integrates industry best practices with robust geological assessments and QA/QC protocols to ensure consistent mineral extraction and efficient processing.
Core Operations and Business Model
The company’s main operational hub is the Pulacayo-Paca project, an advanced mining development that leverages cutting-edge exploration techniques and strategic drilling programs. Utilizing both oxide mining for high-grade silver-bearing materials and sulphide operations for processed concentrates, Silver Elephant is structured to capture value from diverse mineralization zones. Its business model is underpinned by targeted financing rounds through non-brokered private placements, allowing the company to commission and advance mining phases while remaining debt free.
Technical and Operational Excellence
Silver Elephant employs industry-recognized methodologies for resource estimation and quality control. The company uses a systematic approach to drilling and core sampling, with each core being geotechnically analyzed and processed under stringent protocols. Accredited laboratories and standardized testing methods, such as four acid digestion and fire assay techniques, provide reliable assay data, critical in maintaining confidence in its mineral resource estimates. This technical rigor positions Silver Elephant as a company that communicates its operations with clarity and precision to the investment community.
Market Position and Competitive Landscape
In the competitive sector of silver mining, Silver Elephant has distinguished itself by focusing on a high-grade resource base combined with streamlined production processes. It operates within a complex regulatory environment where adherence to quality, safety, and environmental standards is paramount. By concentrating on a flagship project in a mineral-rich region, the company competes with other mid-tier mining entities while emphasizing technical excellence and disciplined capital management.
Strategic Insights and Industry Terminology
Oxide Operations: Focused on extracting high-grade silver oxide materials which offer a consistent production profile.
Sulphide Production: Advanced tunnel developments and concentrate production that highlight the company’s diversification in processing techniques.
Drill Programs: Comprehensive drilling campaigns reinforce the geological potential of the Pulacayo-Paca project.
Quality Assurance: Rigorous QA/QC measures ensure that extracted data is reliable and reflective of actual resource estimates.
Corporate Governance and Investor Communication
Silver Elephant maintains transparent communication with its shareholders through regular news releases and detailed reports. Its governance structure, underscored by experienced management and expert technical personnel, supports a disciplined operational approach. The company’s focus on drilling integrity, efficient production, and capital discipline supports its longstanding mission to sustain operational effectiveness in challenging mining environments.
Conclusion
Overall, Silver Elephant Mining Corp represents a focused approach to silver mining that combines modern extraction techniques, disciplined financing, and technical rigor. By centering its operations around the Pulacayo-Paca project in Bolivia and adhering to industry best practices, the company provides detailed insight into its operational effectiveness for investors and industry analysts alike.
Silver Elephant Mining has announced plans to start phase one mining of sulphide materials at its Paca silver project in Bolivia by September 2024. This phase aims to extract 10,000 tonnes of mineralized materials, seeking to generate cash flow and validate the Paca resource model.
The project, lasting around 5 months, will include developing a 367-meter tunnel and using the shrinkage stoping method to mine the materials. Expected grades are 412 g/t Ag, 1.09% Pb, and 0.38% Zn.
The company owns the needed mining equipment, and toll milling and concentrate sales will begin in November 2024. Successful phase one execution may lead to full-scale mining in 2025.
Silver Elephant Mining Corp. reported significant gallium and indium assay results from its Pulacayo-Paca silver-lead-zinc project in Bolivia. The results, based on 199 core samples from 12 drill holes, revealed substantial occurrences of gallium (up to 34 g/t) and indium (up to 266 g/t), correlated with high zinc levels. The assay was conducted by ALS Laboratory. The Pulacayo-Paca project has a total indicated resource of 106.7 million ounces of silver, 1.4 billion pounds of zinc, and 690 million pounds of lead. These elements could potentially enhance the value of the final concentrate produced from mining and processing activities.
Silver Elephant Mining has commenced a 1,500-meter diamond drilling program at its Paca Silver Project in Bolivia. The drilling, which consists of 24 holes, aims to test oxide mineralization continuity. So far, nine holes have been completed, with samples sent to ALS Global for analysis, expecting results in June 2024.
This program is funded by Andean Precious Metals, who will buy up to 800,000 tonnes of Paca oxide materials for $5-7 million, reimbursing Silver Elephant for operating expenses.
The Paca project hosts a high-grade silver resource, with previous estimates indicating substantial oxide and sulfide mineral resources.
Silver Elephant Mining Corp. reported a record monthly mining output in May 2024, extracting 26,003 tonnes of Paca oxide materials with an average grade of 180.6 g/t silver. This achievement surpasses their previous records and highlights their operational prowess and safety standards. CEO John Lee emphasized the integral role of Silver Elephant in the Pulacayo township and their substantial growth since October 2023. The company plans to sell up to 800,000 tonnes of Paca oxide materials to Andean Precious Metals for US$5-7 million. The Paca project, according to a 2020 technical report, hosts substantial high-grade silver resources.
On May 27, 2024, Silver Elephant Mining announced the closure of the second and final tranche of its non-brokered private placement, raising $75,000 through the sale of 250,000 units at $0.30 per unit. Each unit includes one common share and half of a share purchase warrant, with each whole warrant allowing the purchase of an additional share at $0.45 for three years. Proceeds will be used for working capital and corporate purposes. These securities are subject to a hold period until September 24, 2024, and are not registered for sale in the U.S. under the U.S. Securities Act.
Silver Elephant Mining announced significant findings from its Pulacayo silver-lead-zinc project in Bolivia, reporting a 99-meter intersection with notable grades of gallium (27.8 g/t), indium (9.7 g/t), silver (21.2 g/t), zinc (1.1%), and lead (0.5%).
The company identified these intervals during a drillhole review, with assays from four diamond-drill-holes showing promising results. CEO John Lee highlighted the potential strategic importance of these minerals, especially given rising prices and China's export restrictions on gallium and indium.
The Pulacayo project has an indicated resource of 106.7 million ounces of silver, 1.4 billion pounds of zinc, and 690 million pounds of lead. The company plans further analysis to explore the potential of gallium and indium production, aiming to meet growing demand in high-tech applications.
Silver Elephant Mining Corp. announced that all resolutions proposed at their Annual General Meeting on May 10, 2024, were approved. The number of directors is set to four, with John Lee, Greg Hall, Douglas Flett, and Nigel Lees elected as directors.
The vote results were as follows: John Lee (91.27% For, 8.73% Withheld), Greg Hall (92.55% For, 7.45% Withheld), Douglas Flett (92.59% For, 7.41% Withheld), Nigel Lees (92.51% For, 7.49% Withheld). Mao & Ying LLP, Chartered Professional Accountants, were appointed as auditors with authorization for directors to fix their remuneration.
The detailed voting results are available on www.sedar.com.
Silver Elephant Mining announced a record monthly delivery of 20,894 tonnes of Paca oxide materials averaging 194.2 g/t silver in April 2023 to Andean Precious Metals. The company has been increasing its Bolivian activities since October 2023, benefiting from cash-flow from Paca oxide sales. CEO John Lee highlighted that the operation averaged 700 tonnes per day, with a focus on transitioning to phase 2 sulphide production. Silver Elephant plans to deliver up to 800,000 tonnes of Paca oxide materials for US$5-7 million, depending on silver prices. The Paca project hosts significant silver resources as detailed in a 2020 technical report by Mercator Geological Services. The report indicates high-grade silver and additional potential from sulphide resources, promising further revenue streams for the company.
Silver Elephant Mining Corp. has resumed broker-dealer quotation on the OTC Pink market under the symbol 'SILEF' after voluntary deregistration with the U.S. SEC. The common shares do not trade on a national stock exchange and are not required to be registered.
Silver Elephant Mining Corp. closed the first tranche of its non-brokered private placement, raising $285,000 through the sale of 950,000 units at $0.30 per unit. The proceeds will be used for working capital and general corporate purposes. Certain directors subscribed for 250,000 units. The securities issued are subject to a regulatory hold period until August 30, 2024.
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