Silver Elephant Mining Corp 6-K, filed Oct 13, 2020
Silver Elephant Mining Corp. (SILEF)
6-K
2020-10-13
For: 2020-10-09
View Original
Added on
April 06, 2026
About this 6-K
Silver Elephant Mining Corp filed this 6-K on October 13, 2020.
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Form
6-K
REPORT OF FOREIGN PRIVATE ISSUER PURSUANT TO RULE 13a-16 or 15d-16 UNDER
THE
SECURITIES EXCHANGE ACT OF 1934
For the
month of October,
2020
Commission
File Number 000-55985
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SILVER ELEPHANT MINING CORP.
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(Translation
of registrant’s name into English)
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Suite 1610 – 409 Granville Street
Vancouver, British Columbia, Canada V6C 1T2
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(Address
of principal executive offices)
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Indicate
by check mark whether the registrant files or will file annual
reports under cover Form 20-F or Form 40-F
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Form
20-F
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☒
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Form
40-F
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☐
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Indicate
by check mark if the registrant is submitting the Form 6-K in paper
as permitted by Regulation S-T Rule 101(b)(1):
☐
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|
Note: Regulation S-T Rule 101(b)(1) only permits
the submission in paper of a Form 6-K if submitted solely to
provide an attached annual report to security holders.
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Indicate
by check mark if the registrant is submitting the Form 6-K in paper
as permitted by Regulation S-T Rule
101(b)(7): ☐
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|
Note: Regulation S-T Rule 101(b)(7) only permits
the submission in paper of a Form 6-K if submitted to furnish
a report or other document that the registrant foreign private
issuer must furnish and make public under the laws of the
jurisdiction in which the registrant is incorporated, domiciled or
legally organized (the registrant’s “home
country”), or under the rules of the home country exchange on
which the registrant’s securities are traded, as long as the
report or other document is not a press release, is not required to
be and has not been distributed to the registrant’s security
holders, and, if discussing a material event, has already been the
subject of a Form 6-K submission or other Commission filing on
EDGAR.
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1
SIGNATURE
Pursuant
to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf
by the undersigned, thereunto duly authorized.
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SILVER
ELEPHANT MINING CORP.
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Date: October 13,
2020
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By:
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/s/ Brigitte
McArthur
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Brigitte
McArthur
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Corporate
Secretary
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2
INDEX TO EXHIBITS
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News
Release dated October 13, 2020
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3
Exhibit 99.1
Silver Elephant Reports 106.7 Million Oz Indicated
and 13.1 Million Oz Inferred Silver Mineral
Resource Estimate for the Pulacayo Project
Vancouver, British Columbia, October 13, 2020 – Silver
Elephant Mining Corp. (“Silver Elephant” or “the
Company”) (TSX: ELEF, OTCQX:SILEF, Frankfurt:1P2N)
announces the results of a National
Instrument 43-101 (“NI43-101”) compliant Mineral
Resource Estimate for the Pulacayo silver-lead-zinc project
(“Pulacayo Project”) in Bolivia. The Pulacayo Project
consists of the Pulacayo Deposit and Paca Deposit (7km north of
Pulacayo deposit). The project is 107 km northeast of Sumitomo
Corporation’s San Cristobal silver mine, 171 km southwest of
New Pacific’s Silver Sands discovery, and 139 km north of Pan
American Silver Corp.’s San Vicente silver
mine.
The Mineral Resource Estimate has an effective date of October 13,
2020 and includes 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, and an Inferred Mineral Resource of 13.1 million oz of
silver, 122.8 million pounds of zinc and 61.9 million pounds of
lead. Silver Elephant’s wholly owned Bolivian subsidiary has
invested over US$30 million at the Pulacayo Project since
2006.
The
Mineral Resource Estimate was prepared by Mercator Geological
Services Limited (“Mercator”) under supervision of
Matthew Harrington, P. Geo., who is an independent Qualified Person
as defined under NI 43-101. A
technical report documenting the Mineral Resource Estimate will be
filed by the Company within 45 days. A contained metal summary
based on the Mineral Resource Estimate for the Pulacayo Project is
reported below in Table
1.
Table 1: Pulacayo Project Mineral Resource Estimate Summary of
Total Contained Metal - Effective October 13, 2020**
|
Zone
|
Category
|
Rounded Tonnes
|
Ag Moz
|
Zn Mlbs
|
Pb Mlbs
|
*AgEq Moz
|
|
Open
Pit Constrained
|
Indicated
|
47,380,000
|
101.0
|
1,365.0
|
687.5
|
202.0
|
|
Inferred
|
4,165,000
|
8.0
|
80.3
|
53.5
|
14.3
|
|
|
Out-of-Pit
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Indicated
|
660,000
|
5.7
|
19.6
|
6.4
|
6.5
|
|
Inferred
|
900,000
|
5.2
|
42.4
|
8.3
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7.4
|
|
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Total:
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Indicated
|
48,040,000
|
106.7
|
1,384.7
|
693.9
|
208.5
|
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Inferred
|
5,065,000
|
13.1
|
122.8
|
61.9
|
21.7
|
**
Accompanying notes for the Mineral Resource Estimate are presented
below with Table 3.
The
Pulacayo Deposit Mineral Resource Estimate is based on estimates of
Pit-Constrained and Out of Pit Mineral Resources, details of which
are presented below in Table 2. These
estimates are based on 73,016 metres of diamond drilling (244
surface and 42 underground drill holes). Table 3 presents the Pit-
Constrained Paca Deposit Mineral Resource Estimate. This estimate
is based on results of 104 diamond drill holes and 6 reverse
circulation drill holes totaling 19,916 meters completed between
2002 and 2020.
Table 2: Pulacayo Deposit Combined Pit-Constrained and Out-of-Pit
Mineral Resource Estimate – Effective Date October 13,
2020**
|
Cut -off Grade
|
Zone
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Category
|
Rounded Tonnes
|
Ag g/t
|
Zn %
|
Pb %
|
Ag Moz
|
Zn Mlbs
|
Pb Mlbs
|
*AgEq
Moz
|
*AgEq g/t
|
|
50 Ag
g/t
|
Oxide
In-Pit
|
Indicated
|
1,090,000
|
125
|
|
|
4.4
|
|
|
|
|
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Inferred
|
25,000
|
60
|
|
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0.0
|
|
|
|
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||
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30
*AgEq g/t
|
Sulfide
In-Pit
|
Indicated
|
24,600,000
|
76
|
1.63
|
0.70
|
60.1
|
884.0
|
379.6
|
123.4
|
156
|
|
Inferred
|
745,000
|
82
|
1.79
|
0.61
|
2.0
|
29.4
|
10.0
|
3.9
|
164
|
||
|
100
*AgEq g/t
|
Sulfide
Out-of-Pit
|
Indicated
|
660,000
|
268
|
1.35
|
0.44
|
5.7
|
19.6
|
6.4
|
6.5
|
307
|
|
Inferred
|
900,000
|
179
|
2.14
|
0.42
|
5.2
|
42.4
|
8.3
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7.4
|
257
|
||
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Total:
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Indicated
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26,350,000
|
|
|
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70.2
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903.7
|
386.0
|
133.4
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Inferred
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1,670,000
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|
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7.2
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71.8
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18.4
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11.4
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||
**
Accompanying notes for the Mineral Resource Estimate are presented
below with Table 3.
Table 3: Paca Deposit Pit-Constrained Mineral Resource Estimate
– Effective Date October 13, 2020**
|
Cut -off Grade
|
Zone
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Category
|
Rounded Tonnes
|
Ag g/t
|
Zn %
|
Pb %
|
Ag Moz
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Zn Mlbs
|
Pb Mlbs
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*AgEq Moz
|
*AgEq g/t
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|
50 Ag
g/t
|
Oxide
In-Pit
|
Indicated
|
1,095,000
|
185
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|
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6.5
|
|
|
|
|
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Inferred
|
345,000
|
131
|
|
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1.5
|
|
|
|
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||
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30
*AgEq g/t
|
Sulfide
In-Pit
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Indicated
|
20,595,000
|
46
|
1.07
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0.67
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30.5
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485.8
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304.2
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70.2
|
106
|
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Inferred
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3,050,000
|
46
|
0.76
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0.65
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4.5
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51.1
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43.7
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9.2
|
94
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||
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Total:
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Indicated
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21,690,000
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|
|
|
37
|
485.8
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304.2
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70.2
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|
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Inferred
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3,395,000
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|
|
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6
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51.1
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43.7
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9.2
|
|
||
**Notes:
1.
Mineral
Resources were prepared in accordance with NI 43-101, the CIM
Definition Standards (2014) and CIM MRMR Best Practice Guidelines
(2019).
2.
*Ag
Eq. = Silver Equivalent (Recovered) = (Ag
g/t*89.2%)+((Pb%*(US$0.95/lb. Pb/14.583 Troy oz./lb./US$17 per Troy
oz. Ag)*(10,000*91.9%))+((Zn%*(US$1.16/lb. Zn/14.583 Troy
oz./lb./US$17 per Troy oz. Ag)*(10,000*82.9%)). Sulphide zone metal
recoveries of 89.2% for Ag, 91.9% for Pb, and 82.9% for Zn were
used in the Silver Equivalent (Recovered) equation and reflect
metallurgical testing results disclosed previously for the Pulacayo
Deposit. A metal recovery of 80% Ag was used for oxide zone Mineral
Resources.
3.
Metal
prices of US$17/oz Ag, US$0.95/lb Pb, and US$1.16 Zn apply. A
currency exchange rate of CDN$1.00 to US$0.75 applies.
4.
Pit-Constrained
Mineral Resources are defined for each deposit within optimized pit
shells with average pit slope angles of 45⁰. The Pulacayo
Deposit Mineral Resource Estimate was optimized at a 12.3:1 strip
ratio and the Paca Deposit Mineral Resource Estimate was optimized
with at a 4.3: strip ratio.
5.
Base-case
sulfide zone pit optimization parameters include: mining at US$2.00
per tonne; combined processing and G&A at US$12.50 per tonne
processed; haulage at US$0.50 per tonne processed for Pulacayo and
US$2.00 per tonne processed for Paca.
6.
Base-case
oxide zone pit optimization parameters include: mining at US$2.00
per tonne; combined processing and G&A at US$23.50 per tonne
processed; haulage at US$0.50 per tonne processed for Pulacayo and
US$2.00 per tonne processed for Paca.
7.
Pit-constrained
sulphide zone Mineral Resources are reported at a cut-off grade of
30 g/t Ag Eq. within the optimized pit shells and pit-constrained
oxide zone Mineral Resources are reported at a cut-off grade of 50
g/t Ag within the optimized pit shells. Cut-off grades reflect
total operating costs used in pit optimization and are considered
to define reasonable prospects for eventual economic extraction by
open pit mining methods.
8.
Out
of Pit Mineral Resources are external to the optimized pit shells
and are reported at a cut-off grade of 100 g/t Ag Eq. They are
considered to have reasonable prospects for eventual economic
extraction using conventional underground methods such as long hole
stoping based on a mining cost of $35 per tonne and processing and
G&A cost of $20 per tonne processed.
9.
“Total”
Mineral Resources for the Pulacayo Deposit Combined Pit-Constrained
and Out-of-Pit Mineral Resource Estimate is the tonnage-weighted
average summation of Pit-Constrained and Out-of-Pit Pulacayo
Mineral Resources.
10.
“Total”
Mineral Resources for the Pulacayo Project Mineral Resource
Estimate is the tonnage-weighted average summation of total
Pulacayo Deposit and Paca Deposit Mineral Resources.
11.
Mineral
Resources were estimated using Ordinary Kriging methods applied to
1 m downhole assay composites capped at 2,300 g/t Ag, 13% Pb and
15% Zn.
12.
Bulk
density was interpolated using Ordinary Kriging methods for
Pulacayo Mineral Resources. An average bulk density of 2.32 g/cm3
or 2.24 g/cm3 was applied to Paca Mineral Resources based on grade
domain solid models.
13.
Mineral
Resources may be materially affected by environmental, permitting,
legal, title, taxation, sociopolitical, marketing, or other
relevant issues.
14.
Mineral
Resource tonnages have been rounded to the nearest 5,000; totals
may vary due to rounding.
There are no known legal, political, environmental, or other risks
identified by the Company at the October 13, 2020 effective date
that would materially affect potential future development of the
Pulacayo Project.
Pulacayo Project maps are available at www.silverelef.com.
Pulacayo Deposit
The
Pulacayo and Paca Deposits are interpreted to be
low-to-intermediate sulphidation epithermal deposits.
The
Pulacayo Deposit occurs within the Tertiary age Pulacayo volcanic
dome complex that consists of older sedimentary rocks of the
Silurian Quenhua Formation and the intruding andesitic volcanic
rocks of the Rothchild and Megacristal units. Mineralization hosted
by volcanic rocks can be tens of meters in thickness and typically
consists of discrete veins plus stockworks of narrow veins and
veinlets that occur within argillic alteration host rock envelopes.
Veins are commonly banded in texture and can contain semi-massive
to massive sulphides. The primary minerals of economic importance
at Pulacayo are tetrahedrite, galena and sphalerite. There are also
silver sulfosalts and native silver which contribute to deposit
silver grades. Mineralization is controlled by an east-west
oriented normal fault system which links two northeast trending,
steeply dipping, regional strike slip faults.
Historic
Pulacayo mine production was predominantly from the Tajo vein
system (TVS) which extends over a strike length of more than 2.5 km
and down dip 1,000 meters. Resource drilling spans 1.4 km
mineralized strike and extends down dip 400 meters from the
surface. It covered an area that’s approximately 30% of TVS.
There is the potential of discovering additional resources by
drilling along the strike and at depth.
The sensitivity analysis shown in Table 4 and Table 5 illustrates
various pit-constrained grade-tonnage scenarios for the Pulacayo
deposit based on a range of cut-off grades. Table 6 shows
sensitivity analysis for out-of-pit grade tonnage
scenarios.
Table 4: Pulacayo Deposit Pit-Constrained Cut-Off Grade Sensitivity
Report for Oxide Zone
|
Cut -off Grade
|
Category
|
Rounded Tonnes
|
Ag g/t
|
Zn %
|
Pb %
|
Ag Moz
|
Zn Mlbs
|
Pb Mlbs
|
*AgEq Moz
|
AgEq g/t
|
|
30 Ag g/t
|
Indicated
|
1,760,000
|
92
|
|
|
5.2
|
|
|
|
|
|
Inferred
|
35,000
|
55
|
|
|
0.1
|
|
|
|
|
|
|
45 Ag g/t
|
Indicated
|
1,220,000
|
116
|
|
|
4.6
|
|
|
|
|
|
Inferred
|
30,000
|
58
|
|
|
0.1
|
|
|
|
|
|
|
90 Ag g/t
|
Indicated
|
615,000
|
171
|
|
|
3.4
|
|
|
|
|
|
Inferred
|
|
|
|
|
0
|
|
|
|
|
|
|
200 Ag g/t
|
Indicated
|
185,000
|
250
|
|
|
1.5
|
|
|
|
|
|
Inferred
|
|
|
|
|
0
|
|
|
|
|
Note:
Cut-off grade for pit-constrained oxide Mineral Resources is 50 g/t
Ag.
Table 5: Pulacayo Deposit Pit-Constrained Cut-Off Grade Sensitivity
Report for Sulfide Zone
|
Cut -off Grade
|
Category
|
Rounded Tonnes
|
Ag g/t
|
Zn %
|
Pb %
|
Ag Moz
|
Zn Mlbs
|
Pb Mlbs
|
*AgEq Moz
|
AgEq g/t
|
|
30 AgEq g/t
|
Indicated
|
24,600,000
|
76
|
1.63
|
0.7
|
60.1
|
884
|
379.6
|
123.4
|
156
|
|
Inferred
|
745,000
|
82
|
1.79
|
0.61
|
2
|
29.4
|
10
|
3.9
|
164
|
|
|
45 AgEq g/t
|
Indicated
|
23,715,000
|
78
|
1.67
|
0.72
|
59.5
|
873.1
|
376.4
|
122
|
160
|
|
Inferred
|
735,000
|
83
|
1.81
|
0.61
|
2
|
29.3
|
9.9
|
3.9
|
166
|
|
|
90 AgEq g/t
|
Indicated
|
13,700,000
|
121
|
2.17
|
0.99
|
53.3
|
655.4
|
299
|
100
|
227
|
|
Inferred
|
290,000
|
154
|
3.62
|
0.97
|
1.4
|
23.1
|
6.2
|
2.9
|
312
|
|
|
200 AgEq g/t
|
Indicated
|
5,385,000
|
249
|
2.75
|
1.54
|
43.1
|
326.5
|
182.8
|
66.3
|
383
|
|
Inferred
|
180,000
|
230
|
4.57
|
1.22
|
1.3
|
18.1
|
4.8
|
2.5
|
426
|
|
|
400 AgEq g/t
|
Indicated
|
1,860,000
|
387
|
3.62
|
2.25
|
23.1
|
148.4
|
92.3
|
33.8
|
565
|
|
Inferred
|
105,000
|
297
|
5.29
|
1.46
|
1
|
12.2
|
3.4
|
1.8
|
521
|
Note: Resource Estimate cut-off grade bolded.
Table 6: Pulacayo Deposit Out-of-Pit Cut-Off Grade Sensitivity
Report for Sulfide Zone
|
Cut -off Grade
|
Category
|
Rounded Tonnes
|
Ag g/t
|
Zn %
|
Pb %
|
Ag Moz
|
Zn Mlbs
|
Pb Mlbs
|
*AgEq Moz
|
AgEq g/t
|
|
100 AgEq g/t
|
Indicated
|
660,000
|
268
|
1.35
|
0.44
|
5.7
|
19.6
|
6.4
|
6.5
|
307
|
|
Inferred
|
900,000
|
179
|
2.14
|
0.42
|
5.2
|
42.4
|
8.3
|
7.4
|
257
|
|
|
150 AgEq g/t
|
Indicated
|
530,000
|
321
|
1.3
|
0.49
|
5.5
|
15.2
|
5.7
|
6
|
354
|
|
Inferred
|
680,000
|
220
|
2.25
|
0.46
|
4.8
|
33.7
|
6.9
|
6.6
|
300
|
|
|
200 AgEq g/t
|
Indicated
|
435,000
|
359
|
1.41
|
0.53
|
5
|
13.5
|
5.1
|
5.5
|
394
|
|
Inferred
|
505,000
|
260
|
2.37
|
0.54
|
4.2
|
26.4
|
6
|
5.6
|
343
|
|
|
250 AgEq g/t
|
Indicated
|
350,000
|
397
|
1.53
|
0.59
|
4.5
|
11.8
|
4.6
|
4.9
|
435
|
|
Inferred
|
375,000
|
309
|
2.14
|
0.64
|
3.7
|
17.7
|
5.3
|
4.6
|
381
|
|
|
300 AgEq g/t
|
Indicated
|
290,000
|
429
|
1.63
|
0.64
|
4
|
10.4
|
4.1
|
4.4
|
468
|
|
Inferred
|
310,000
|
327
|
2.23
|
0.72
|
3.3
|
15.2
|
4.9
|
4
|
403
|
|
|
350 AgEq g/t
|
Indicated
|
230,000
|
462
|
1.74
|
0.7
|
3.4
|
8.8
|
3.5
|
3.7
|
504
|
|
Inferred
|
225,000
|
358
|
2.18
|
0.85
|
2.6
|
10.8
|
4.2
|
3.1
|
434
|
|
|
400 AgEq g/t
|
Indicated
|
180,000
|
490
|
1.93
|
0.74
|
2.8
|
7.7
|
2.9
|
3.1
|
538
|
|
Inferred
|
165,000
|
384
|
2.01
|
0.99
|
2
|
7.3
|
3.6
|
2.4
|
455
|
Note: Resource Estimate cut-off grade bolded.
Paca Deposit
The Paca Deposit is located 7 km north of the Pulacayo
Deposit.
Paca
Deposit mineralization occurs at surface and has been defined to
date to a maximum depth below surface of approximately 200 metres.
The current near surface dimension of the Paca Deposit measures approximately 750 meters
North-South by 750 meters East-West. The deposit includes a core
zone of feeder-style mineralization associated predominantly with
brecciated andesite, plus additional zones of shallowly dipping
mantos-style mineralization that are hosted by the surrounding
volcano-sedimentary sequence. Mineralization occurs in association
with the same Tertiary age volcanic dome complex that produced the
Pulacayo Deposit and takes the form of thin veinlets, fracture
fillings and disseminations hosted by altered volcaniclastic
sedimentary lithologies and altered intermediate to felsic igneous
lithologies. The Paca Deposit remains open at depth and along the
strike.
Sensitivity analysis shown in Tables 7 and 8 illustrates various
pit-constrained grade-tonnage scenarios at the Paca Deposit based
on a range of cut-off grades.
Table 7: Paca Deposit Pit-Constrained Cut-Off Grade Sensitivity
Report for Oxide Zone
|
Cut -off Grade
|
Category
|
Rounded Tonnes
|
Ag g/t
|
Zn %
|
Pb %
|
Ag Moz
|
Zn Mlbs
|
Pb Mlbs
|
*AgEq Moz
|
AgEq g/t
|
|
30 Ag g/t
|
Indicated
|
1,805,000
|
128
|
|
|
7.4
|
|
|
|
|
|
Inferred
|
500,000
|
102
|
|
|
1.6
|
|
|
|
|
|
|
45 Ag g/t
|
Indicated
|
1,225,000
|
170
|
|
|
6.7
|
|
|
|
|
|
Inferred
|
375,000
|
124
|
|
|
1.5
|
|
|
|
|
|
|
90 Ag g/t
|
Indicated
|
800,000
|
231
|
|
|
5.9
|
|
|
|
|
|
Inferred
|
235,000
|
159
|
|
|
1.2
|
|
|
|
|
|
|
200 Ag g/t
|
Indicated
|
420,000
|
311
|
|
|
4.2
|
|
|
|
|
|
Inferred
|
55,000
|
285
|
|
|
0.5
|
|
|
|
|
|
|
400 Ag g/t
|
Indicated
|
80,000
|
493
|
|
|
1.3
|
|
|
|
|
|
Inferred
|
5,000
|
459
|
|
|
0.1
|
|
|
|
|
Note:
Cut-off grade for pit-constrained oxide Mineral Resources is 50 g/t
Ag.
Table 8: Paca Deposit Pit-Constrained Cut-Off Grade Sensitivity
Report for Sulfide Zone
|
Cut -off Grade
|
Category
|
Rounded Tonnes
|
Ag g/t
|
Zn %
|
Pb %
|
Ag Moz
|
Zn Mlbs
|
Pb Mlbs
|
*AgEq Moz
|
AgEq g/t
|
|
30 AgEq g/t
|
Indicated
|
20,595,000
|
46
|
1.07
|
0.67
|
30.5
|
485.8
|
304.2
|
70.2
|
106
|
|
Inferred
|
3,050,000
|
46
|
0.76
|
0.65
|
4.5
|
51.1
|
43.7
|
9.2
|
94
|
|
|
45 AgEq g/t
|
Indicated
|
19,315,000
|
48
|
1.11
|
0.69
|
29.8
|
472.7
|
293.8
|
68.3
|
110
|
|
Inferred
|
2,650,000
|
51
|
0.81
|
0.7
|
4.4
|
47.3
|
40.9
|
8.7
|
102
|
|
|
90 AgEq g/t
|
Indicated
|
8,600,000
|
87
|
1.38
|
0.95
|
24.1
|
261.6
|
180.1
|
45.4
|
164
|
|
Inferred
|
950,000
|
114
|
0.94
|
0.95
|
3.5
|
19.7
|
19.9
|
5.2
|
171
|
|
|
200 AgEq g/t
|
Indicated
|
1,810,000
|
256
|
1.22
|
1.22
|
14.9
|
48.7
|
48.7
|
18.5
|
318
|
|
Inferred
|
190,000
|
338
|
0.61
|
0.98
|
2.1
|
2.6
|
4.1
|
2.2
|
360
|
|
|
400 AgEq g/t
|
Indicated
|
300,000
|
490
|
1.38
|
1.47
|
4.7
|
9.1
|
9.7
|
5.2
|
542
|
|
Inferred
|
50,000
|
545
|
0.39
|
0.82
|
0.9
|
0.4
|
0.9
|
0.9
|
530
|
Note: Resource Estimate cut-off grade bolded.
Regional Exploration Potential
Numerous prospective targets which exhibit mineralization
expression on surface have been identified around and between the
Pulacayo and Paca deposits. The Company has already commenced
activities to explore these areas.
Silver Elephant Remarks
Joaquin Merino, VP for South American Operation, commented:
“With an Indicated
Mineral Resource Estimate of 106.7 million oz of silver, 1,384.7
million pounds of zinc, and 693.9 million pounds of lead, and an
Inferred Mineral Resource Estimate of 13.1 million oz of silver,
122.8 million pounds of zinc and 61.9 million pounds of
lead, the Pulacayo Project
should be recognized as a top-tier silver project with significant
zinc and lead by-product credits. There is demonstrated potential
for further resource expansion, and this overall large resource
could eventually lead to a district-scale open-pit
operation.”
Qualified Persons
Mr. Harrington, P. Geo. of Mercator Geological Services Limited is
responsible for disclosure regarding the Pulacayo Project Mineral
Resource Estimate.
The technical contents of this news release have been prepared
under the supervision of Danniel Oosterman, VP Exploration. Mr.
Oosterman is not independent of the Company in that he is employed
by it. Mr. Oosterman is a qualified person (“QP”) as
defined by the guidelines in NI 43-101.
About Mercator
Mercator Geological Services Limited is a Canadian consulting firm
founded in 1997 that offers a broad range of professional project
management services including technical reporting to standards
referenced in NI 43-101, exploration program management, and
professional staffing for mineral exploration projects. Mercator
prepared the Pulacayo deposit mineral resource estimations for
Apogee Silver Ltd during the 2011 to 2013 period.
About Silver Elephant
Silver Elephant Mining Corp. is a premier silver mining company.
The Company’s goal is to enable shareholders to own as much
silver in the ground as possible.
SILVER ELEPHANT MINING CORP.
ON
BEHALF OF THE BOARD
“Joaquin Merino”
VP For South America Operation
For
more information about Silver Elephant, please contact Investor
Relations:
+1.604.569.3661
ext. 101
ir@silverelef.com www.silverelef.com
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 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 Companyhas 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.