Silver Elephant Mining Corp. reported that ongoing exploration at both the Pulacayo silver project and the El Triunfo gold-silver project 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 an ongoing IP survey at Pulacayo District.
It should be noted that these are targets located up to 1km distance from the Pulacayo Tajo vein system (“TVS”) whereat all of the reported historic production of 678 0Moz occurred according to 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 high IP chargeability, which extends beyond a depth of 500m exceeding 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 500m. located 300m southwest of PUD286 which intercepted 4m of 393 g/t Ag, 3.79% Zn, 0.88%Pb which is also outside of Pulacayo Resource (see Company’s press release dated January 27, 2021) at 148m downhole. The IP target for PUD 293 corresponds to a mapped structure that strikes westward from PUD 286
All prior Pulacayo drillings focused exclusively on upper part of Pulacayo TVS and the Paca satellite deposit (7km north of TVS) which define the Pulacayo resource of an Indicated Mineral Resource of 106.7 million oz of silver, 1,384.7 million pounds of zinc, and 693.9 million pounds of lead.
The Indicated 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 TVS system showed up in the IP survey with high chargeability and medium resistivity, and that many of the IP anomalies in the survey carry very similar IP signatures as the TVS which is what makes these targets compelling.
Matrix Consulting of Canada after a brief August break, is now performing IP survey at Paca as part of expanded 108km-Line IP program and continues to find additional targets that will further examination and interpretation prior to 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 occurred. The east anomaly measures 50 to 75m wide, and 200m along strike and appears to be 100 to 200 meters from surface and 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 similar IP signature as prior drilled areas beneath the artisanal workings to the west (see news release dated November 25, 2020). Significant drill results published in November 2020 by Silver Elephant are tabulated below as reference:
The IP results correlate to the findings from the Company’s geological mapping program which illustrates (demonstrates) that sheeted vein systems, and host rock (what is this rock? Can you put some techie jargons here) to the polymetallic mineralization intercepted at prior El Triunfo drill holes, extends another 1.5km eastward
Sampling results from mapping on this east extension are tabulated below and show very similar, and in some cases higher grades of mineralization than previous grab samples in artisanal workings area to the west.
Over all xxx samples were taken, with significant results from this sampling program shown in the following table:
|Sample No.||Type||Width (m)||Au (g/t)||Ag (g/t)||Zn %||Pb %||AuEq
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 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 duplicates (including lab duplicates and standards) are analyzed using Thompson-Howarth plots. 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 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 secured core facility. Prior to sampling, all core is geotechnically analyzed and photographed and then logged by geologists.
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.
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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
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 the 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.
Original news release here