Silver Elephant Mining Corp. reports on silver mining, development and exploration activity tied to its Apuradita/Paca Apuradita operation in Bolivia. Company updates center on underground mining, trucking of silver-bearing material to toll-mill facilities, production and sale of silver-lead concentrate, and sampling or development work that defines additional mineralized zones.
Recurring corporate news also includes non-brokered private placements, common-share and warrant issuances, related-party participation under Canadian securities rules, working-capital uses, and early warning disclosures tied to holdings in Oracle Commodity Holding Corp.
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.
Silver Elephant Mining Corp (OTCQX:SILEF) plans to spin out its non-silver assets, Flying Nickel Mining Corp and Nevada Vanadium Mining Corp, refocusing on its silver operations. The company aims to enhance resource expansion and environmental permitting at its flagship Pulacayo silver project in Bolivia, which holds 107 million oz of silver. A $35 million investment has been made at Pulacayo, with over 100,000 meters of drilling. The spinouts, currently non-binding, align with the company’s strategy to avoid diluting silver assets with non-silver ventures.
Silver Elephant Mining Corp. (TSX:ELEF)(OTCQX:SILEF) announced promising drill results from its Sunawayo project in Bolivia, revealing significant indium and gallium mineralization. Notably, drillhole SWD002 intercepted 87 g/t indium and 7 g/t gallium over 9 meters, with a silver equivalent of 252 g/t. The results confirm extensive indium and gallium concentrations, often exceeding silver levels. The project, which includes a total of 15 drillholes, shows potential for substantial mineral deposits, although no defined mineral resources exist yet. Full assay results for remaining holes are forthcoming.