Silver Elephant Mined and Delivered 22,669 tonnes at Paca Grading 193 g/t Silver for August 2024
Silver Elephant Mining Corp. (TSX: ELEF) (OTCQB: SILEF) reports mining 22,669 tonnes of silver-bearing oxide materials at its Paca Silver Project in August 2024, averaging 193 g/t silver. The company has mined and shipped 176,803 tonnes grading 180 g/t silver since October 2023, totaling 965,531 oz of silver. Silver Elephant initiated a phase one sulphide operation in August, expecting revenue generation by year-end 2024.
Under agreements with Andean Precious Metals Corp., Silver Elephant plans to sell up to 800,000 tonnes of Paca oxide materials for US$5-7 million, depending on silver prices. At current rates, the company expects to receive US$2.5 million before January 31, 2025. The Paca project hosts a high-grade silver resource, with indicated oxide resources of 800,000 tonnes at 231 g/t silver and indicated sulfide resources of 1,810,000 tonnes at 256 g/t silver.
Silver Elephant Mining Corp. (TSX: ELEF) (OTCQB: SILEF) riporta di aver estratto 22.669 tonnellate di materiali ossidati contenenti argento presso il suo Progetto Argento Paca nel mese di agosto 2024, con una media di 193 g/t di argento. La società ha estratto e spedito 176.803 tonnellate con un grado di 180 g/t di argento da ottobre 2023, per un totale di 965.531 once di argento. Silver Elephant ha avviato un'operazione di fase uno sui solfuri in agosto, prevedendo di generare ricavi entro la fine del 2024.
Secondo gli accordi con Andean Precious Metals Corp., Silver Elephant prevede di vendere fino a 800.000 tonnellate di materiali ossidati Paca per 5-7 milioni di dollari USA, a seconda dei prezzi dell'argento. Ai tassi attuali, la società si aspetta di ricevere 2,5 milioni di dollari USA entro il 31 gennaio 2025. Il progetto Paca ospita una risorsa di argento ad alto grado, con risorse ossidate indicate di 800.000 tonnellate a 231 g/t di argento e risorse solfurate indicate di 1.810.000 tonnellate a 256 g/t di argento.
Silver Elephant Mining Corp. (TSX: ELEF) (OTCQB: SILEF) informa que ha extraído 22.669 toneladas de materiales óxidos que contienen plata en su Proyecto de Plata Paca en agosto de 2024, con un promedio de 193 g/t de plata. La empresa ha extraído y enviado 176.803 toneladas con una ley de 180 g/t de plata desde octubre de 2023, alcanzando un total de 965.531 onzas de plata. Silver Elephant inició una operación de fase uno de sulfuros en agosto, esperando generar ingresos para finales de 2024.
En virtud de los acuerdos con Andean Precious Metals Corp., Silver Elephant planea vender hasta 800.000 toneladas de materiales óxidos de Paca por entre 5 y 7 millones de dólares estadounidenses, según los precios de la plata. A los precios actuales, se espera que la empresa reciba 2,5 millones de dólares estadounidenses antes del 31 de enero de 2025. El proyecto Paca alberga un recurso de plata de alta ley, con recursos óxidos indicados de 800.000 toneladas a 231 g/t de plata y recursos de sulfuro indicados de 1.810.000 toneladas a 256 g/t de plata.
Silver Elephant Mining Corp. (TSX: ELEF) (OTCQB: SILEF)는 2024년 8월 Paca 은 프로젝트에서 22,669톤의 은이 함유된 산화 광물 자원을 채굴했으며, 평균 193 g/t의 은 함량을 기록했다고 보고했습니다. 이 회사는 2023년 10월 이후 180 g/t의 은 함량을 가진 176,803톤을 채굴 및 선적했으며, 총 965,531온스의 은을 생산했습니다. Silver Elephant는 2024년 말까지 수익 창출을 기대하며 8월에 1단계 황화물 작업을 시작했습니다.
Silver Elephant는 Andean Precious Metals Corp.와의 계약에 따라 Paca 산화 자원의 최대 800,000톤을 은 가격에 따라 500만에서 700만 달러에 판매할 계획입니다. 현재 가격에 따르면, 2025년 1월 31일 이전에 250만 달러를 받을 것으로 예상됩니다. Paca 프로젝트는 231 g/t의 은 함량을 가진 800,000톤의 산화 자원과 256 g/t의 은 함량을 가진 1,810,000톤의 황화 자원을 보유하고 있습니다.
Silver Elephant Mining Corp. (TSX: ELEF) (OTCQB: SILEF) annonce avoir extrait 22 669 tonnes de matériaux oxydés contenant de l'argent dans son projet d'argent Paca en août 2024, avec une moyenne de 193 g/t d'argent. La société a extrait et expédié 176 803 tonnes avec une teneur de 180 g/t d'argent depuis octobre 2023, totalisant 965 531 onces d'argent. Silver Elephant a lancé une opération de phase un sur les sulfures en août, s'attendant à générer des revenus d'ici la fin de 2024.
Dans le cadre d'accords avec Andean Precious Metals Corp., Silver Elephant prévoit de vendre jusqu'à 800 000 tonnes de matériaux oxydés Paca pour entre 5 et 7 millions de dollars américains, selon les prix de l'argent. Aux tarifs actuels, la société s'attend à recevoir 2,5 millions de dollars américains avant le 31 janvier 2025. Le projet Paca héberge une ressource argentifère de haute qualité, avec des ressources oxydées indiquées de 800 000 tonnes à 231 g/t d'argent et des ressources sulfuriques indiquées de 1 810 000 tonnes à 256 g/t d'argent.
Silver Elephant Mining Corp. (TSX: ELEF) (OTCQB: SILEF) berichtet, dass im August 2024 22.669 Tonnen silberhaltige Oxidmaterialien im Paca-Silberprojekt abgebaut wurden, mit einem Durchschnitt von 193 g/t Silber. Das Unternehmen hat seit Oktober 2023 176.803 Tonnen mit 180 g/t Silber abgebaut und versandt, was insgesamt 965.531 Unzen Silber ergibt. Silver Elephant hat im August eine Phase-eins-Schwefeloperation eingeleitet und erwartet bis Ende 2024 Einnahmen zu generieren.
Im Rahmen von Vereinbarungen mit der Andean Precious Metals Corp. plant Silver Elephant, bis zu 800.000 Tonnen Paca-Oxidmaterialien für 5-7 Millionen US-Dollar zu verkaufen, abhängig von den Silberpreisen. Zum aktuellen Kurs erwartet das Unternehmen, bis zum 31. Januar 2025 2,5 Millionen US-Dollar zu erhalten. Das Paca-Projekt weist eine hochgradige Silberressource auf, mit angegebenen oxidischen Ressourcen von 800.000 Tonnen bei 231 g/t Silber und angegebenen sulfidischen Ressourcen von 1.810.000 Tonnen bei 256 g/t Silber.
- Mined 22,669 tonnes of silver-bearing oxide materials at 193 g/t silver in August 2024
- Total of 176,803 tonnes mined and shipped since October 2023, grading 180 g/t silver
- Produced 965,531 oz of silver based on government tax records
- Initiated phase one sulphide operation in August 2024
- Expected revenue of US$2.5 million before January 31, 2025 from oxide material sales
- High-grade silver resource: 800,000 tonnes at 231 g/t silver (oxide) and 1,810,000 tonnes at 256 g/t silver (sulfide) in indicated category
- August production slowed compared to July due to brief Bolivian national labour strike and planned overburden removal
Vancouver, British Columbia--(Newsfile Corp. - September 19, 2024) - Silver Elephant Mining Corp. (TSX: ELEF) (OTCQB: SILEF) (FSE: 1P2) ("Silver Elephant" or the "Company") announces in August 2024, the Company mined a total of 22,669 tonnes of Paca Silver Project oxide materials (731 tonnes per day) with an average grade of 193 g/t silver ("Products") and trucked the Products to Andean Precious Metals Corp. ("Andean") in Potosi department in Bolivia.
August production was slowed compared to July Production due to a brief Bolivian national labour strike and planned overburden removal. The Company has mined and shipped 176,803 tonnes of silver-bearing oxide materials grading 180 g/t silver, which is 965,531 oz of silver based on reported government tax records, with no lost time incidents since Paca's operation began in October 2023.
In addition to the Paca oxide operation, Silver Elephant initiated the Paca phase one sulphide operation in August (refer to the Company's news release dated July 8, 2024). The Company expects revenue generation from the sulphide operation by year end of 2024.
| Paca Production by Month | ||
| Month | Tonnes | Grade g/t |
| Oct-23 | 4,501 | 243 |
| Nov-23 | 7,264 | 156 |
| Dec-23 | 19,074 | 145 |
| Jan-24 | 4,283 | 146 |
| Mar-24 | 15,809 | 182 |
| Apr-24 | 20,894 | 195 |
| May-24 | 25.992 | 180 |
| Jun-24 | 29,280 | 175 |
| July-24 | 27,039 | 185 |
| Aug -24 | 22,669 | 193 |
| Total | 176,803 | 180 |
Pursuant to the sales and purchase agreement and master services agreement detailed in the news release dated September 12, 2023, Silver Elephant plans to sell and deliver up to 800,000 tonnes of Paca oxide materials to Andean for a total of between US
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*
The Technical Report was filed on October 26, 2020 and is available under the Company's profile on SEDAR+ at www.sedarplus.ca. 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
| 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*
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 Carlos Zamora, who is not independent of the Company in that he is employed by it. Mr. Zamora is a qualified person as defined by the guidelines of NI 43-101.
About Silver Elephant Mining Corp.
Silver Elephant is a silver mining company, with its flagship Pulacayo-Paca silver project in production since October 2023 in Bolivia.
Further information on Silver Elephant can be found at www.silverelef.com.
SILVER ELEPHANT MINING CORP.
ON BEHALF OF THE BOARD
"John Lee"
Executive Chairman
For more information about Silver Elephant, please contact Investor Relations:
+1.604.569.3661 ext. 101
info@silverelef.com
www.silverelef.com
FORWARD-LOOKING INFORMATION
This news release contains "forward-looking information" and "forward-looking statements" (collectively, "forward-looking information") within the meaning of applicable securities laws. Forward-looking information is generally identifiable by use of the words "believes," "may," "plans," "will," "anticipates," "intends," "could", "estimates", "expects", "forecasts", "projects" and similar expressions, and the negative of such expressions. Such forward-looking information, which reflects management's expectations regarding Silver Elephant's future growth, results of operations, performance, business prospects and opportunities, is based on certain factors and assumptions and involves known and unknown risks and uncertainties which may cause the actual results, performance, or achievements to be materially different from future results, performance, or achievements expressed or implied by such forward-looking information. Forward-looking information in this and other news releases includes, but not limited to, the expected amount and timing for delivery of Product to Andean, and expected timing and benefits of phase 2 sulphide production for the Paca project.
Forward-looking information involves significant risks and uncertainties, should not be read as a guarantee of future performance, events or results, and may not be indicative of whether such events or results will actually be achieved. A number of risks and other factors could cause actual results to differ materially from expected results discussed in the forward-looking information, including but not limited to: changes in operating plans; ability to secure sufficient financing to advance the Company's project; conditions impacting the Company's ability to mine at the project, such as unfavourable weather conditions, development of a mine plan, maintaining existing permits and receiving any new permits required for the project, and other conditions impacting mining generally; maintaining cordial business relations with strategic partners and contractual counter-parties; meeting regulatory requirements and changes thereto; risks inherent to mineral resource estimation, including uncertainty as to whether mineral resources will be further developed into mineral reserves; political risk in the jurisdictions where the Company's projects are located; commodity price variation; and general market, industry and economic conditions. Additional risk factors are set out in the Company's latest annual and interim management's discussion and analysis and annual information form (AIF), available on SEDAR+ at www.sedarplus.ca.
Forward-looking information is based on reasonable assumptions by management as of the date of this news release, and there can be no assurance that actual results will be consistent with any forward-looking information included herein. Readers are cautioned that all forward- looking statements in this news release are made as of the date of this news release. The Company undertakes no obligation to update or revise any forward-looking information in this news release to reflect circumstances or events that occur after the date of this news release, except as required by applicable securities laws.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/223841
FAQ
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