Silver Elephant Assay Results Show Up to 2,790 g/t Silver, 20% Lead From 120 Samples At the Pulacayo- Paca Project in Bolivia
Silver Elephant Assay Results Show Up to 2,790 g/t
Silver, 20% Lead From 120 Samples At the Pulacayo-
Paca Project in Bolivia
Vancouver, British Columbia, May 11, 2023 – Silver Elephant Mining Corp. (“Silver
Elephant” or “the Company”) (TSX: ELEF, OTCQX: SILEF, Frankfurt:1P2N) is pleased to
report chip and channel sampling assay results from the ongoing exploration at the
Company’s flagship Pulacayo-Paca silver project in Bolivia.
A total of 120 samples were collected from three exploration priority target areas: Paca
conglomerate zone, the Pulacayo San Leon tunnel, and the Rothschild zone (an area
immediately northwest of Pulacayo’s Tajo Vein system). Assays with significant silver were
returned from many of the chip and channel samples taken at regular intervals in th ose
areas.
An up-coming drill program is planned to expand the Pulacayo -Paca resource based on
these assay results and on geophysical surveys. The Pulacayo-Paca project is currently
estimated to contain an indicated resource of 106.7 million oz of silver, 1.38 billion pounds
of zinc, and 690 million pounds of lead and an inferred resource of 13.1 million oz of silver,
123 million pounds of zinc, and 62 million pounds of lead based on the technical report
prepared by Mercator Geol ogical Services Limited with an effective date of October 13,
2020, with details provided in the Company’s October 13, 2020 news release. These
resources are well supported by 96,021 meters of drilling (5,009 meters by Apex Silver from
1994 to 1998, 85,024 meters by Apogee Silver from 2002 to 2014, and 6,258 meters by
Silver Elephant from 2019 to 2022).
Paca
66 select and channel samples were taken at 10-meter intervals that cover a 200 meter by
40 meter conglomerate area bordering Paca’s resource to the north. Each channel sample
is between 2 to 4 meters in length.
The reported values are up to 468 g/t silver; with 9 samples reporting between 250 and 468
g/t silver; 19 samples between 250 and 100 g/t s ilver; 19 samples between 100 and 50 g/t
silver; 7 samples between 50 and 30 g/t silver and the remainder below 30 g/t silver
The results demonstrate significant silver oxide mineralization throughout the sampled area.
None of the near surface conglomerate silver mineralization is included in the current Paca
resource.
TABLE 1: Paca Conglomerate Sampling Assay Results
SNO LOCATION SAMP_TYPE Ag (g/t) SNO LOCATION SAMP_TYPE Ag (g/t)
8612 Paca Channel
165.0 8646 Paca Channel
46.0
8613 Paca Channel
124.0 8647 Paca Channel
57.0
8614 Paca Channel
72.3 8648 Paca Channel
69.0
8615 Paca Channel
89.0 8649 Paca Channel
49.0
8616 Paca Channel
190.0 8651 Paca Channel
70.0
8617 Paca Channel
62.4 8652 Paca Channel
49.0
8618 Paca Channel
118.8 8653 Paca Channel
23.0
8619 Paca Channel
146.7 8654 Paca Channel
39.0
8620 Paca Channel
164.0 8655 Paca Channel
80.0
8621 Paca Channel
278.0 8656 Paca Channel
26.0
8622 Paca Channel
145.6 8657 Paca Channel
27.0
8623 Paca Channel
253.0 8658 Paca Channel
92.0
8624 Paca Channel
267.3 8659 Paca Channel
80.0
8625 Paca Select
467.9 8660 Paca Channel
25.0
8626 Paca Channel
238.1 8661 Paca Select
285.0
8627 Paca Channel
194.3 8662 Paca Select
97.0
8628 Paca Select
345.0 8663 Paca Channel
148.0
8629 Paca Channel
255.0 8664 Paca Channel
223.0
8631 Paca Channel
71.0 8665 Paca Channel
159.0
8632 Paca Channel
147.0 8666 Paca Channel
83.0
8633 Paca Channel
176.0 8667 Paca Channel
185.0
8634 Paca Hole
227.0 8668 Paca Channel
60.0
8635 Paca Channel
324.0 8669 Paca Channel
14.0
8636 Paca Channel
235.0 8671 Paca Channel
23.0
8637 Paca Channel
144.0 8672 Paca Channel
76.0
8638 Paca Channel
279.0 8673 Paca Channel
15.0
8639 Paca Channel
98.0 8674 Paca Channel
24.0
8640 Paca Channel
28.0 8675 Paca Channel
22.0
8641 Paca Channel
26.0 8676 Paca Channel
2.0
8642 Paca Channel
36.0 8677 Paca Channel
86.0
8643 Paca Channel
37.0 8678 Paca Channel
153.0
8644 Paca Channel
28.0 8679 Paca Channel
76.0
8645 Paca Channel
38.0 8680 Paca Channel
66.0
The conglomerate layers occurred in several areas that feature strongly oxidized
mineralization. The conglomerates are of Tertiary age and formed by subrounded quartzite
clasts and some sandstone clasts up to 25 cm in diameter. It is a clast -supported
conglomerate of sandy matrix which is partially to strongly silicified . Barite, calcite, locally
tetrahedrite and iron oxides are found, and the rock is moderately sericitized.
Pulacayo, San Leon Tunnel
A grab sampling program was also carried out in the San León underground tunnel along
the main Pulacayo Tajo Vein. The assay results from the 11 samples returned grades of up
to 2,790 g/t silver, 20% lead and 2% zinc. These results demonstrate the mineralization
extension of the main Tajo Vein in a “mineralized halo” more than 30 meters to the north
and 30 meters to the south.
In addition to the Tajo Vein mineralized halo, several other mineralized veins with high-
grade exploration potential were observed.
TABLE 2: San Leon Tunnel Sampling Assay Results
SNO LOCATION WIDTH
(m)
Ag
(g/t) Pb (%) Zn (%)
8551 Porvenir 1.50 502 4.95 15.6
8552 Porvenir 1.20 59 0.4 2.3
8553 Porvenir 0.20 210 0.45 2.5
8554 Porvenir 1.00 25 0.21 3.7
8555 Porvenir 0.25 476 5.69 27.6
8556 Porvenir 0.20 78 0.59 6.9
8557 Porvenir 0.30 231 0.33 12.05
8558 OB8 0.05 2790 20 2
8559 OB8 0.10 783 0.52 13.4
8560 OB8 0.10 1480 7.51 5.9
8561 OB8 0.05 376 2.59 20.6
Rothschild area sampling:
The mapping of the Rothschild zone immediately to the northwest of Pulacayo Tajo Vein
was completed. A total of 43 samples were taken and assayed along visual m ineralized
surface outcrops. No significant silver assay content was reported from those sample grabs.
Based on mapping and further geological modeling , additional sampling programs are
planned in areas further north of the outcropped areas
Please visit www.silverelef.com to see following maps pertaining to this release.
1. Map of Pulacayo-Paca district
2. Detailed mapping and sampling at Paca
3. Proposed drill targets at Paca
4. Sampling map of Pulacayo San Leon tunnel
Qualified Person
The technical contents of this news release have been prepared under the supervision of
Bill Pincus, who is an indepe ndent consultant of the Company. Bill Pincus is a qualified
person as defined by the guidelines of NI 43-101.
Quality Assurance and Quality Control
Silver Elephant adopts industry-recognized best practices in its implementation of QA/QC
methods. Rock chip samples average between 5-7 kilograms. Samples are shipped to
ALS Global Laboratories in Ururo, Bolivia for preparation and 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. The ALS Laboratories sample management system meets all the
requirements of International Standards ISO/IEC 17025:2017 and ISO 9001:2015. All ALS
geochemical hub laboratories are accredited to ISO/IEC 17025:2017 for specific analytical
procedures. A geochemical standard control sample is inserted into the sample stream.
The laboratory also includes duplicates of samples, standards and blanks for additional
QA/QC. Check assays are reviewed prior to the release of data. Assays are also reviewed
for their geological context and checked against field descriptions.
About Silver Elephant
Silver Elephant Mi ning Corp. is a premier silver mining and exploration company, with a
flagship Pulacayo silver project 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:
+1.604.569.3661 ext. 101
[email protected] www.silverelef.com
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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 forwa rd-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 iden tify 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 in tended. 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.