Silver Elephant’s Sunawayo Drills 87g/t Indium, 7g/t Gallium, 48g/t Silver (252g/t AgEq) over 9 Meters within 31 Meters Grading 119 g/t AgEq
Silver Elephant’s Sunawayo Drills 87g/t Indium, 7g/t Gallium,
48g/t Silver (252g/t AgEq) over 9 Meters
within 31 Meters Grading 119 g/t AgEq
Vancouver, British Columbia , May 6 , 2021 – Silver Elephant Mining Corp. (“Silver Elephant” or “the
Company”) (TSX:ELEF, OTCQX:SILEF, Frankfurt:1P2N) announces indium and gallium assays from
drillholes SWD001 to SWD010 at its Sunawayo project in central Bolivia, featuring SWD002 which intercepted
87 g/t indium,7 g/t gallium, and 48 g/t Ag (252 g/t silver equivalent) over 9 meters within an interval of 31 meters
grading 119 g/t silver equivalent.
The company first published silver drill results of SWD001 to SWD010 on January 27, and on March 18 2021.
The latest drill results summarized in the table below confirm extensive indium and gallium mineralization in
concentrations exceeding silver concentrations in several instances. Primary indium and gallium deposits are
not common, and that fact makes Sunawayo a special project.
Hole ID From To Length (m) AgEq (g/t) Ag (g/t) In g/t Ga g/t Pb % Zn % Cu %
SWD001 0.0 137.0 137.0 52 36 4.6 3.5 0.12 0.02 0.01
SWD002 1.0 32.0 31.0 119 44 29.4 5.1 0.39 0.48 0.02
incl… 21.0 30.0 9.0 252 48 86.9 6.8 0.73 1.57 0.07
SWD003 18.0 74.0 56.0 74 17 11.8 2.6 0.46 0.83 0.01
incl… 26.0 34.0 8.0 66 42 10.5 2.9 0.19 0.01 0.00
SWD004 15.0 32.0 17.0 80 26 26.6 4.7 0.27 0.04 0.02
incl… 28.0 30.0 2.0 209 134 33.2 7.2 0.55 0.01 0.05
SWD005 14.0 17.0 3.0 39 21 3.6 2.8 0.22 0.07 0.02
SWD005 56.0 60.0 4.0 42 14 12.5 2.5 0.12 0.06 0.02
SWD005 86.0 90.0 4.0 89 65 8.9 4.0 0.14 0.02 0.02
SWD005 128.0 133.0 5.0 37 0 8.7 8.6 0.32 0.14 0.00
SWD006 13.0 14.0 1.0 149 62 45.2 4.0 0.44 0.07 0.06
SWD006 19.0 21.0 2.0 79 29 25.3 3.9 0.21 0.04 0.03
SWD006 35.0 36.0 1.0 55 25 6.8 6.2 0.28 0.11 0.01
SWD006 50.0 51.0 1.0 57 27 8.6 4.8 0.27 0.10 0.01
SWD006 55.0 63.0 8.0 66 21 16.7 5.4 0.41 0.06 0.02
SWD007 23.0 29.0 6.0 67 36 9.7 3.6 0.37 0.05 0.02
SWD007 91.0 94.0 3.0 37 25 0.4 3.5 0.15 0.04 0.02
SWD008 30.0 33.0 3.0 45 21 5.4 4.5 0.34 0.05 0.00
SWD008 86.0 88.0 2.0 43 26 2.4 5.2 0.17 0.05 0.00
Hole ID From To Length (m) AgEq (g/t) Ag (g/t) In g/t Ga g/t Pb % Zn % Cu %
SWD009 14.0 26.0 12.0 78 39 20.0 4.8 0.04 0.01 0.03
incl… 14.0 20.0 6.0 89 59 13.3 3.9 0.05 0.01 0.04
SWD009 46.0 50.0 4.0 51 5 15.8 7.2 0.07 0.38 0.01
SWD009 69.0 77.0 8.0 137 16 18.4 3.6 0.16 2.82 0.01
incl… 75.0 77.0 2.0 323 50 19.4 1.5 0.40 7.67 0.03
SWD009 110.0 111.0 1.0 236 158 10.9 4.4 0.08 1.65 0.06
SWD010 68.0 78.0 10.0 214 144 13.3 4.5 0.43 0.97 0.06
incl… 69.0 72.0 3.0 540 421 34.3 6.6 0.92 0.90 0.15
Reported intercepts are core-lengths and not true-widths; based on core-angle measurements, true widths range
from 80% to 85% of reported core length. AgEq calculation uses a silver price of $25.00/ oz., a zinc price of
$1.10/lb., a lead price of $0.80/lb. and a copper price of $3.00/lb., indium price of $190.34/kg, and gallium price
of $320.38/kg (all USD) and assumes 100% metallurgical recovery as no metallurgical studies have been
conducted on the project, and do not reliably reflect expected metallurgical results. Silver equivalent values are
calculated using the following formula: AgEq = Ag g/t + (Zn % x 30.1644) + (Pb % x 21.9377) + (Cu% x 82.2665)
+ (In g/t x 0.2368) + (Ga g/t x 0.3986). Coordinates in UTM WGS83 Z19S. Reported results do not define a
mineral resource and it is uncertain if further exploration will result in the delineation of mineral resource.
Indium currently trades at around $7.00/oz with recent high of $10.00/oz in 2018. Primary indium use is in indium
phosphide semiconductors and indium tin oxide thin films for liquid-crystal displays (LCD). Annual global indium
production is approximately 700 tonnes (24.7 million oz’s). China is a leading producer of indium (290 tonnes in
2016), f ollowed by South Korea (195 t onnes), Japan (70 t onnes) and Canada (65 t onnes), according to
Wikipedia.
Gallium currently trades near $12.00/oz. Global gallium production is approximately 300 tonnes (10 million oz's)
per year with China, Korea, and Japan account for 90% of the supply. Semiconductor applications dominate the
commercial demand for gallium, accounting for 98% of the total, according to Wikipedia.
10 out of 10 drillholes along a 4-km trend for which the Company have received full assays contain silver, indium,
and gallium mineralization. The results indicate the potential for the presence of one or more mineral deposits at
Sunawayo. Currently there is insufficient exploration to determine whether any resources are present , and no
mineral resource has been defined
The Company has completed its planned 15-hole drilling program on the project. Full assay results are pending
for the remaining drillholes.
Detailed maps of Sunawayo located in central Bolivia are available at www.silverelef.com.
Qualified Person
The technical contents of this news release have been prepared under the supervision of Danniel Oosterman,
VP Exploration. Mr. Oosterman is not independent of the Company in that he is employed by it. Mr. Oosterman
is a qualified person (“QP”) as defined by the guidelines in NI 43-101.
Quality Assurance and Quality Control
Silver Elephant adopts industry -recognized best practices in its implementation of QA/QC methods. A
geochemical standard control sample and a blank sample are inserted into the sample stream at every 20th
sample. Duplicates are taken at every 40th sample. Standards and dupli cates, including lab duplicates and
standards, are analyzed using scatterplots. Sa mples are shipped to ALS Global Laboratories in Ururo, Bolivia
for preparation. They are then shipped to ALS Global laboratories in Lima, Peru for analysis. Samples are
analyzed using Intermediate Level Four Acid Digestion. Silver overlimits (“ore grade”) are analyzed using fire
assay with a gravimetric finish. ALS Laboratories sample management system meets all the requirements of the
International Standards ISO/IEC 17025:201 7 and ISO 9001:2015. All ALS geochemical hub laboratories are
accredited to ISO/IEC 17025:2017 for specific analytical procedures.
All samples are taken from HQ -diameter core is split in half by a diamond- blade masonry saw. One half of the
core is submitted for laboratory analysis and the other half is preserved for reference at the Company’s secured
core facility. All the core is geotechnically analyzed and photographed and then logged by geologists prior to
sampling.
About Silver Elephant
Silver Elephant Mining Corp. is a premier silver mining and exploration company.
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
[email protected] www.silverelef.com
Neither the Toronto Stock Exchange nor its Regulation Services Provider (as that term is defined in the policies of the
Toronto Stock Exchange) accepts responsibility for the adequacy or accuracy of this release.
Cautionary Note Regarding Forward-Looking Statements
Certain statements contained in this news release, including statements which may contain words such as “expects”,
“anticipates”, “intends”, “plans”, “believes”, “estimates”, or similar expressions, and statements related to matters which
are not historical facts are forward-looking information within the meaning of applicable securities laws. Such forward-
looking statements, which reflect management’s expectations regarding Company’s future growth, results of operations,
performance, and business prospects and opportunities, are based on certain factors and assumptions and involve 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 statements.
These factors should be considered carefully, and readers should not place undue reliance on the Company’s forward-
looking statements. The Company believes that the expectations reflected in the forward-looking statements contained in
this news release and the documents incorporated by reference herein are reasonable, but no assurance can be given
that these expectations will prove to be correct. In addition, although the Company has attempted to identify important
factors that could cause actual actions, events, or results to differ materially from those described in forward-looking
statements, there may be other factors that cause actions, events, or results not to be as anticipated, estimated, or
intended. The Company undertakes no obligation to publicly release any future revisions to forward-looking statements
to reflect events or circumstances after the date of this news or to reflect the occurrence of unanticipated events, except
as expressly required by law.