Silver Elephant’s El Triunfo Grab Samples Assayed Up to 294 g/t Silver, Drilling at Pulacayo (Silver) Continues Past 1,972m
Silver Elephant’s El Triunfo Grab Samples Assayed Up to 294
g/t Silver, Drilling at Pulacayo (Silver) Continues Past 1,972m
Vancouver, British Columbia, August 30, 2021 – Silver Elephant Mining Corp.
(“Silver Elephant” or “the Company”) (TSX: ELEF, OTCQX:SILEF, Frankfurt:1P2N)
is pleased to report the ongoing exploration at both the Pulacayo silver project and the El
Triunfo gold-silver project in Bolivia are yielding encouraging results as follows:
Pulacayo District Exploration (silver, lead, zinc)
Further to news dated June 21, 2021 , Silver elephant has drilled 1,972 meters of its
announced 2,000m drill program. Drilling has been completed at El Abra, Veta Quattro,
and Pacamayo prospects identified through mapping and 2021 IP survey at Pulacayo
District. These are distant unexplored targets located up to 1km from the Pulacayo Tajo
Vein System (“TVS ”) whereat all of the historic production of 6 78 Moz occurred as
reported by the National Geological and Mineral Service of Bolivia (SERGEOTECMIN)
Drilling at Pacamayo (1km north of the NI-43 101 Pulacayo resource that is upper part of
TVS) has confirmed visual concentrations of galena, tetrahedrite and sphalerite between
490 to 560 meters depth matching a high IP chargeability, which extends beyond a depth
of 500 meters and exceeds the IP depth detection limit.
The Company is currently drilling PUD 293 at the Pero area about 500 meters south of
Pulacayo resource where an IP anomaly is detected at a depth between 250 to 500
meters. PUD293 is located 300 meters southwest of PUD286 (also outside of Pulacayo
Resource) which intercepted 4meters of 393 g/t Ag, 3.79% Zn, 0.88%Pb at 148 -meter
downhole (see Company’s press release dated January 27, 2021). The IP target for PUD
293 corresponds favorably to a mapped structure that strikes westward from PUD 286.
All prior Pulacayo drilling focused primarily on upper part of Pulacayo TVS and the Paca
satellite deposit (7km north of TVS) which define the Pulacayo resource of an Indicated
mineral category of 106.7 million oz of silver, 1,384.7 million pounds of zinc, and 693.9
million pounds of lead. The Indicated Pulacayo resource is 48 million tonnes grading 69g/t
silver, 1.3% zinc, 0.7% lead based on over 100,000 meters of drilling. The resource
calculation was completed by Mercator Geotechnical Services (refer to news release
dated October 13, 2020).
It should be noted that the Pulacayo TVS showed up in the IP survey with high
chargeability and medium resistivity, and that many of the IP anomalies such as
Pacamayo in the survey carry very similar IP signatures to the TVS which is what makes
these targets compelling.
Matrix Geotechnologies Limited of Canada has recently returned from a brief break to
commence surveying at Paca as part of the expanded 108 line-km IP program which so
far keeps on finding additional targets which the Company will assess for possible drilling.
El Triunfo project (gold silver lead zinc)
Silver Elephant has completed a 30 line-km IP survey at its El Triunfo project and has
identified several IP anomalies. Of particular interest is an anomaly that extends 200m
east of the artisanal workings where all prior exploration and drilling occurred. The east
anomaly measures 50 to 75m wide, and 200m along strike and appears to be 100 to 200
meters from surface. This anomaly is open to the east as the Company ground crew
compiles remaining data to determine its full dimensions . This east anomaly has never
been drilled and exhibits the same IP signature as prior drilled areas beneath the artisanal
workings to the west. Significant prior drill results at El Triunfo west are tabulated below
as reference (refer further to news release dated November 25, 2020):
Hole ID From-To Length Au Ag Zn Pb AuEq
(m) (g/t) (g/t) % % (g/t)
TR006 40.0-76.0 36 0.49 15.46 0.54 0.44 0.97
including… 58.0-72.0 14 0.48 20.23 0.76 0.66 1.16
TR007 13.0-
111.9 98.9 0.37 22.71 0.74 0.58 1.04
including… 63.0-
111.9 48.9 0.42 35.49 1.17 0.83 1.45
TR008 6.8-84.0 77.3 0.31 17.65 0.57 0.53 0.85
including… 45.0-51.4 6.4 1.6 56.49 1.66 0.94 3.05
Gold equivalent calculation uses a gold price of $1,795, a zinc price of $0.93, a lead price of
$0.80, and a silver price of $18.30 (all USD), and assumes a 100% metallurgical recovery. Gold
equivalent values can be calculated using the following formula: AuEq = Au g/t + (Ag g/t x
0.0102) + (Zn % x 0.3551) + (Pb % x 0.3055). Based on core-angle measurements, true widths
range from 54% to 65% of reported core length.
Significant assay results from a total of 74 surface samples, taken as part of the mapping
program on this eastern extension, are tabulated below.
Sample
No. Type Width (m) Au (g/t) Ag (g/t) Zn % Pb % AuEq
(g/t)
3495 CHIP 0.6 4.3 173.0 0.07 2.50 6.8
3494 CHIP 1.0 2.4 34.4 0.12 0.55 3.0
3477 CHIP 1.1 2.3 44.9 5.88 6.57 6.9
6558 CHIP 2.4 1.9 1.1 0.00 0.00 1.9
6572 CHIP 1.9 1.4 0.6 0.00 0.00 1.4
3488 CHIP 1.0 0.9 8.0 0.00 0.00 1.0
3500 CHIP 2.2 0.9 187.0 4.48 5.40 6.0
6503 CHIP 1.0 0.7 15.4 0.32 1.00 1.3
3499 CHIP 2.6 0.7 38.0 0.06 1.03 1.4
6582 CHIP 0.3 0.7 294.0 2.09 6.11 6.3
3475 CHIP 3.0 0.5 124.0 0.90 4.74 3.5
6517 CHIP 1.1 0.3 24.0 3.08 0.76 1.9
Gold equivalent calculation uses a gold price of $1,795, a zinc price of $0.93, a lead price of
$0.80, and a silver price of $18.30 (all USD), and assumes a 100% metallurgical recovery. Gold
equivalent values can be calculated using the following formula: AuEq = Au g/t + (Ag g/t x
0.0102) + (Zn % x 0.3551) + (Pb % x 0.3055).
The grades are very similar to, and in some cases higher than the grades from previous
grab samples in artisanal workings area to the west.
The IP anomaly correlate to the findings from the Company’s geological mapping program
which demonstrates that both the sheeted vein system, and host rocks (Tertiary -aged
black shales) to the polymetallic mineralization intercepted at prior El Triunfo drill holes,
extend another 1.5km eastward.
So far, the identified mineralized strike on the project has expanded from 750m to 2.3km,
the Company is working to prioritize drill targets based on all available information to
commence October drilling.
Silver elephant looks forward to exploring and developing both Pulacayo and El Triunfo
to their full potential with singular focus, in light of the Company’s recently announced
plan to spin out its nickel and vanadium assets by year end as announced on August 26,
2021.
Quality Assurance and Quality Control
Silver Elephant adopts industry-recognized best practices in its implementation of QA/QC
methods. A geochemical standard co ntrol sample and a blank sample are inserted into
the sample stream at every 20th sample. Duplicates are taken at every 40th sample.
Standards and duplicates (including lab duplicates and standards) are analyzed using
Thompson-Howarth plots. Samples are sh ipped 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 an aqua regia digestion with super trace ICP -MS
analysis. Gold is analyzed with optimized fire assay and atomic absorption spectroscopy.
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.
All samples are taken from HQ -diameter core and 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 se cured core facility. Prior to sampling, all
core is geotechnically analyzed and photographed and then logged by geologists.
Qualified Persons
The technical contents of this news release have been prepared under the supervision of
Danniel Oosterman, VP Exploration for Silver Elephant. Mr. Oosterman is a “qualified
person” as defined by National Instrument 43-101 – Standards of Disclosure for Mineral
Projects (“NI 43 -101”) and is not independent of the Company as this term is defined
under NI 43-101.
About Silver Elephant
Silver Elephant Mining Corp. is a premier mining and exploration company in silver,
nickel, and vanadium.
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
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adequacy or accuracy of this release.
Cautionary Note Regarding Forward-Looking Statements
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contain words such as “expects”, “anticipates”, “intends”, “plans”, “believes”, “estimates”,
or similar expressions, and statements related to matters which are not historical facts
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These factors should be considered carefully, and readers should not place undue
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expectations reflected in the forward -looking statements contained in this news release
and the documents incorporated by reference herein are reasonable, but no assurance
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