Silver Elephant Mining Corp Stock Price, News & Analysis

Silver Elephant Mining Corp. (OTCQX:SILEF) provided an update on its Minago Nickel Project in Manitoba. The company is working with Manitoba's government to finalize a Notice of Alteration (NOA) related to the tailings management area, crucial for updating its Environment Act License by year-end 2021. The project has a measured and indicated resource of 722 million lbs of nickel. Additionally, Silver Elephant is pursuing low-carbon mining initiatives, aiming to utilize renewable energy sources and an electric fleet to minimize environmental impact.

Silver Elephant Mining Corp. has released a new mineral resource estimate for its 100% owned Minago Nickel Project in Manitoba, effective July 2, 2021. The estimate indicates a Measured and Indicated resource of 722 million lbs of contained nickel, with an Inferred resource of 319 million lbs. The project has seen over $40 million in investments from various parties since 2000. The MRE was conducted by independent firms and adheres to CIM standards. Future plans include drilling to expand resources and a feasibility study to assess economic viability.

Silver Elephant Mining Corp. has received TSX approval to extend its Annual General Meeting (AGM), now scheduled for September 10, 2021, at 9:30 a.m. (EDT). The company focuses on silver mining and exploration, emphasizing its commitment to corporate governance and shareholder engagement. The announcement is part of Silver Elephant's ongoing efforts to align its operations with market expectations and regulatory requirements.

Silver Elephant Mining Corp. has initiated a 2,000-meter drilling program at its Pulacayo silver-lead-zinc project in Bolivia, based on positive results from an ongoing Induced Polarization (IP) geophysical survey. The program plans a minimum of 10 drill holes to assess a new IP anomaly, measuring 1,400 meters by 250 meters, which has never been drilled. The current resource estimate includes 106.7 million oz of indicated silver and 13.1 million oz of inferred silver. This initiative aims to expand Pulacayo’s silver resource base.

Silver Elephant Mining Corp. has initiated a Preliminary Economic Assessment (PEA) for its Gibellini vanadium project in Nevada through its subsidiary, Nevada Vanadium. The project has seen a significant rise in vanadium prices, increasing by 52% in 2021, which may enhance economic feasibility. The PEA will be conducted with Wood PLC and Mine Technical Services. The Gibellini project is positioned in a top mining jurisdiction and has received over $35 million in investments. A final Environmental Impact Statement is expected in 2021.

Silver Elephant Mining Corp. has appointed key personnel for its Minago nickel operation and the proposed spinout of Flying Nickel Mining Corp. Rob Van Drunen becomes Project Manager, bringing over 30 years of mining experience. Doug Ramsey takes the role of Environmental Manager with extensive knowledge in environmental assessment. Advisors Mark Scott and David Gower will focus on operational efficiency and nickel exploration, respectively. The Minago project, located in Manitoba's Thompson Nickel Belt, spans 197 km² and has received $35 million in investments.

Silver Elephant Mining Corp. (SILEF) has announced a suspension of payments for the Sunawayo property, pending verification of title and environmental permits. The Company has notified the Vendors of breaches in the sales agreement. After a $300,000 payment, no further obligations exist unless the SPA is pursued. Sunawayo is a minor part of Silver Elephant's strategy, allowing the Company to allocate approximately $250,000 for mineral property payments in 2021 and $400,000 in 2022. Focus remains on expanding resources at the Pulacayo project, which contains 107 million oz of silver.

Silver Elephant Mining Corp. (OTCQX:SILEF) has reported the discovery of a significant geophysical anomaly at its Pulacayo silver project in Bolivia. The anomaly spans over 1,400 meters in length and 250 meters in width, located approximately 250 meters from the surface. This finding, which exhibits high chargeability and low resistivity, may represent an off-shoot vein of the main Tajo vein system, which historically produced 670 million ounces of silver. Drilling is set to begin in July 2021 to explore this promising anomaly.

Silver Elephant Mining Corp. (OTCQX:SILEF) has announced the commissioning of an independent Mineral Resource Estimate for its Minago nickel project in Manitoba, Canada. The project will be assessed by Mercator Geological Services, AGP Mining, and Stantec, with completion expected in June 2021. The Minago project covers 197 km² within the Thompson Nickel Belt, which has produced over 5 billion pounds of nickel since 1958. Silver Elephant is actively studying existing permits and plans to update the Environmental Impact Statement.