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 successfully completed a 545 meter exploration drilling program at its Paca deposit within the Pulacayo Project in Bolivia. This drilling tested potential 'blind' mineralization through angled holes, expanding on the previous north-south drilling. The Mineral Resource Estimate, effective as of October 13, 2020, includes an Indicated Resource of 106.7 million oz of silver, with significant quantities of zinc and lead as well. Assay results from the recent drilling program are anticipated in November 2020.
Silver Elephant Mining Corp. announced an NI43-101 compliant Mineral Resource Estimate for its Pulacayo silver-lead-zinc project in Bolivia, effective October 13, 2020. The estimate reveals an Indicated Resource of 106.7 million oz silver, 1,384.7 million lbs zinc, and 693.9 million lbs lead, alongside an Inferred Resource of 13.1 million oz silver, 122.8 million lbs zinc, and 61.9 million lbs lead. The company has invested over US$30 million in the project since 2006. A detailed technical report will be filed within 45 days.
Silver Elephant Mining Corp. announced positive initial results from Sunawayo silver project in Bolivia, with 48 sample assays revealing significant silver and lead values. Notably, 10 samples exceeded 100g/t silver or 10% lead. This early indication suggests potential for multiple mineral discoveries. The project covers 59.5 square km and is near the historic 350 million oz Malku Khota deposit. The firm plans geological mapping and aims to identify drill targets by year-end. The findings were received favorably, showcasing the project's high mineralization potential.
Nevada Vanadium has successfully acquired the Bisoni vanadium project from CellCube Energy Storage Systems for $200,000 and 4 million shares of Silver Elephant. This acquisition, finalized on September 18, 2020, is pivotal as the Bisoni Project is located adjacent to Nevada Vanadium's Gibellini Project. Additionally, should vanadium prices exceed $12 per pound for 30 consecutive days by December 31, 2023, an extra $500,000 in shares will be issued to CellCube. This acquisition is anticipated to bolster Nevada Vanadium's market position in North America's vanadium sector.
Silver Elephant Mining Corp. has successfully acquired the Bisoni vanadium project through its subsidiary Nevada Vanadium LLC, as per the Asset Purchase Agreement announced on August 24, 2020. The acquisition involved issuing 4 million common shares and paying $200,000 in cash to CellCube Energy Storage Systems. If vanadium pentoxide prices exceed $12 per pound by December 31, 2023, an additional $500,000 worth of shares will be issued. This project, located near the Gibellini Project, enhances Silver Elephant's position in the vanadium market.
Silver Elephant Mining Corp. (TSX:ELEF)(OTCQX:SILEF) announced a binding sales and purchase agreement to acquire the Sunawayo silver-lead mining project in Bolivia for $6.5 million. This acquisition complements their Malku Khota project, which has a historic resource of 350 million oz of silver. The Sunawayo property is fully permitted for a 100 ton-per-day operation and boasts extensive mineralization potential across 59.5 km². The acquisition aims to enhance the combined district's exploration opportunities, particularly in a region noted for its sedimentary exhalative deposits.
Silver Elephant Mining Corp. (SILEF) announces its subsidiary, Nevada Vanadium LLC, has signed a binding Asset Purchase Agreement to acquire the Bisoni vanadium project from CellCube Energy Storage Systems. The deal involves issuing 4 million shares and a $200,000 cash payment at closing, with an additional $500,000 in shares if vanadium prices exceed $12/lb. This acquisition expands Silver Elephant's vanadium holdings, potentially enhancing resource capacity in the U.S. The combined project area now totals 934 claims across 43.4 sq km, strategically positioned in a top mining jurisdiction.
On August 24, 2020, Nevada Vanadium announced a binding Asset Purchase Agreement with CellCube to acquire the Bisoni vanadium project. The acquisition involves issuance of 4 million common shares and a cash payment of $200,000, plus a contingent payment of $500,000 in shares if vanadium prices exceed $12/lb. The Bisoni Project comprises 201 mining claims and enhances Nevada Vanadium's Gibellini Project, significantly increasing its vanadium resource presence in Nevada, which is known for its attractive mining environment.