Silver Elephant Mining Corp 6-K, filed May 6, 2021
Silver Elephant Mining Corp. (SILEF)
6-K
2021-05-06
For: 2021-05-06
View Original
Added on
April 06, 2026
About this 6-K
Silver Elephant Mining Corp filed this 6-K on May 6, 2021.
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 May
2021
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:
May 6, 2021
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/s/ Brigitte McArthur
Brigitte McArthur
Corporate Secretary
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-2-
INDEX TO EXHIBITS
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News
release dated May 6, 2021
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-3-
Exhibit 99.1
Silver Elephant’s Sunawayo Drills 87g/t Indium, 7g/t
Gallium,
48g/t Silver (252g/t AgEq) over 9 Meters
within 31 Meters Grading 119 g/t AgEq
Vancouver, British Columbia, May 6, 2021 – Silver Elephant
Mining Corp. (“Silver Elephant” or “the
Company”) (TSX:ELEF, OTCQX:SILEF, Frankfurt:1P2N)
announces indium and gallium assays from drillholes SWD001 to
SWD010 at its Sunawayo project in central Bolivia, featuring SWD002
which intercepted 87 g/t indium,7 g/t gallium, and 48 g/t Ag (252 g/t silver equivalent) over 9
meters within an interval of 31 meters grading 119 g/t silver
equivalent.
The
company first published silver drill results of SWD001 to SWD010 on
January 27, and on March 18 2021.
The
latest drill results summarized in the table below confirm
extensive indium and gallium mineralization in concentrations
exceeding silver concentrations in several instances. Primary
indium and gallium deposits are not common, and that fact makes
Sunawayo a special project.
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Hole ID
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From
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To
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Length (m)
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AgEq (g/t)
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Ag (g/t)
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In g/t
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Ga g/t
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Pb %
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Zn %
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Cu %
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SWD001
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0.0
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137.0
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137.0
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52
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36
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4.6
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3.5
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0.12
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0.02
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0.01
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SWD002
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1.0
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32.0
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31.0
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119
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44
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29.4
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5.1
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0.39
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0.48
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0.02
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incl…
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21.0
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30.0
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9.0
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252
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48
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86.9
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6.8
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0.73
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1.57
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0.07
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SWD003
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18.0
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74.0
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56.0
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74
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17
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11.8
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2.6
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0.46
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0.83
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0.01
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incl…
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26.0
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34.0
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8.0
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66
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42
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10.5
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2.9
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0.19
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0.01
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0.00
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SWD004
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15.0
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32.0
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17.0
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80
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26
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26.6
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4.7
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0.27
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0.04
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0.02
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incl…
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28.0
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30.0
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2.0
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209
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134
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33.2
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7.2
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0.55
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0.01
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0.05
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SWD005
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14.0
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17.0
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3.0
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39
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21
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3.6
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2.8
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0.22
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0.07
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0.02
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SWD005
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56.0
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60.0
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4.0
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42
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14
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12.5
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2.5
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0.12
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0.06
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0.02
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SWD005
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86.0
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90.0
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4.0
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89
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65
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8.9
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4.0
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0.14
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0.02
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0.02
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SWD005
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128.0
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133.0
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5.0
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37
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0
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8.7
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8.6
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0.32
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0.14
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0.00
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SWD006
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13.0
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14.0
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1.0
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149
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62
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45.2
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4.0
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0.44
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0.07
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0.06
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SWD006
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19.0
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21.0
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2.0
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79
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29
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25.3
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3.9
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0.21
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0.04
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0.03
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SWD006
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35.0
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36.0
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1.0
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55
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25
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6.8
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6.2
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0.28
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0.11
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0.01
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SWD006
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50.0
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51.0
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1.0
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57
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27
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8.6
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4.8
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0.27
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0.10
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0.01
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SWD006
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55.0
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63.0
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8.0
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66
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21
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16.7
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5.4
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0.41
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0.06
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0.02
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SWD007
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23.0
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29.0
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6.0
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67
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36
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9.7
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3.6
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0.37
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0.05
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0.02
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SWD007
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91.0
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94.0
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3.0
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37
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25
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0.4
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3.5
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0.15
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0.04
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0.02
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SWD008
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30.0
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33.0
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3.0
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45
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21
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5.4
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4.5
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0.34
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0.05
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0.00
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SWD008
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86.0
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88.0
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2.0
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43
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26
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2.4
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5.2
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0.17
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0.05
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0.00
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Hole ID
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From
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To
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Length (m)
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AgEq (g/t)
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Ag (g/t)
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In g/t
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Ga g/t
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Pb %
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Zn %
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Cu %
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SWD009
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14.0
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26.0
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12.0
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78
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39
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20.0
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4.8
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0.04
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0.01
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0.03
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incl…
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14.0
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20.0
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6.0
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89
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59
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13.3
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3.9
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0.05
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0.01
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0.04
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SWD009
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46.0
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50.0
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4.0
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51
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5
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15.8
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7.2
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0.07
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0.38
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0.01
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SWD009
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69.0
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77.0
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8.0
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137
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16
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18.4
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3.6
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0.16
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2.82
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0.01
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incl…
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75.0
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77.0
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2.0
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323
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50
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19.4
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1.5
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0.40
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7.67
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0.03
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SWD009
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110.0
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111.0
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1.0
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236
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158
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10.9
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4.4
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0.08
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1.65
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0.06
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SWD010
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68.0
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78.0
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10.0
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214
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144
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13.3
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4.5
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0.43
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0.97
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0.06
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incl…
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69.0
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72.0
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3.0
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540
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421
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34.3
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6.6
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0.92
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0.90
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0.15
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Reported
intercepts are core-lengths and not true-widths; based on
core-angle measurements, true widths range from 80% to 85% of
reported core length. AgEq calculation uses a silver price of
$25.00/oz., a zinc price of $1.10/lb., a lead price of $0.80/lb.
and a copper price of $3.00/lb., indium price of $190.34/kg, and
gallium price of $320.38/kg (all USD) and assumes 100%
metallurgical recovery as no metallurgical studies have been
conducted on the project, and do not reliably reflect expected
metallurgical results. Silver equivalent values are calculated
using the following formula: AgEq = Ag g/t + (Zn % x 30.1644) + (Pb
% x 21.9377) + (Cu% x 82.2665) + (In g/t x 0.2368) + (Ga g/t x
0.3986). Coordinates in UTM WGS83 Z19S. Reported results do not
define a mineral resource and it is uncertain if further
exploration will result in the delineation of mineral
resource.
Indium
currently trades at around $7.00/oz with recent high of $10.00/oz
in 2018. Primary indium use is in indium phosphide semiconductors
and indium tin oxide thin films for liquid-crystal displays (LCD).
Annual global indium production is approximately 700 tonnes (24.7
million oz’s). China is a leading
producer of indium (290 tonnes in 2016), followed by South Korea
(195 tonnes), Japan (70 tonnes) and Canada (65 tonnes), according
to Wikipedia.
Gallium
currently trades near $12.00/oz. Global gallium production is
approximately 300 tonnes (10 million oz's) per year with China,
Korea, and Japan account for 90% of the supply. Semiconductor
applications dominate the commercial demand for gallium, accounting
for 98% of the total, according to Wikipedia.
10 out
of 10 drillholes along a 4-km trend for which the Company have
received full assays contain silver, indium, and gallium
mineralization. The results indicate the potential for the presence
of one or more mineral deposits at Sunawayo. Currently there is
insufficient exploration to determine whether any resources are
present, and no mineral resource has been defined
The
Company has completed its planned 15-hole drilling program on the
project. Full assay results are pending for the remaining
drillholes.
Detailed maps of Sunawayo located in central Bolivia are available
at
www.silverelef.com.
Qualified Person
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.
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 scatterplots. Samples are shipped to ALS Global
Laboratories in Ururo, Bolivia for preparation. They are then
shipped to ALS Global laboratories in Lima, Peru for analysis.
Samples are analyzed using Intermediate Level Four Acid Digestion.
Silver overlimits (“ore grade”) are analyzed using fire
assay with a gravimetric finish. ALS Laboratories sample management
system meets all the requirements of the 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 is 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. All the core is
geotechnically analyzed and photographed and then logged by
geologists prior to sampling.
About Silver Elephant
Silver Elephant Mining Corp. is a premier silver mining and
exploration company.
Further information on Silver Elephant can be found at
www.silverelef.com.
SILVER ELEPHANT MINING CORP.
ON
BEHALF OF THE BOARD
“John Lee”
Executive Chairman
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 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.