Silver Elephant Mining Corp 6-K, filed Feb 24, 2021
Silver Elephant Mining Corp. (SILEF)
6-K
2021-02-24
For: 2021-02-24
View Original
Added on
April 06, 2026
About this 6-K
Silver Elephant Mining Corp filed this 6-K on February 24, 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 February
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: February 24,
2021
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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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INDEX TO EXHIBITS
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News
release dated February 24, 2021
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3
Exhibit 99.1
Silver Elephant’s Greenfield
Silver Discovery: Sunawayo’s SWD001 drills 137 meters of 36
g/t silver starting from 0 meters depth; SWD002 drills
31m of 67
g/t AgEq
Vancouver, British Columbia, February 24, 2021 – Silver
Elephant Mining Corp. (“Silver Elephant” or “the
Company”) (TSX:ELEF, OTCQX:SILEF, Frankfurt:1P2N)
announces that the first ever drill hole at its Sunawayo project
has intercepted 137 meters of mineralization grading 36 g/t silver,
starting from 0 meters-depth. The Company acquired the Sunawayo project in central Bolivia
in September 2020.
The
second drill hole intercepted 31 meters of mineralization grading
44 g/t silver, 0.39% lead, and 0.48% zinc from 1 meter-depth. Both
SWD001 and SWD002 (240 meters to the southeast of the former)
feature near-uniform silver assays throughout the reported
intervals, indicating that silver mineralization is highly likely
to continue deeper.
The
composited results for SWD001 and SWD002 are tabulated
below:
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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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Ag (g/t)
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Pb %
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Zn %
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AgEq* (g/t)
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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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36
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0.12
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0.02
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39
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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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44
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0.39
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0.48
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67
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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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48
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0.73
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1.57
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112
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Reported widths are intercepted core lengths and not true
widths, as relationships with intercepted structures and contacts
vary. Based on core-angle measurements, true widths range from 80%
to 85% of reported core length. (*)Silver equivalent calculation
uses a silver price of $25.00/oz, a zinc price of $1.10/lb., and a
lead price of $0.80/lb. (all USD) and assumes a 100% metallurgical
recovery. Silver equivalent values can be calculated using the
following formula: AgEq = Ag g/t + (Zn % x 30.1644 ) + (Pb % x
21.9377).
Silver
Elephant’s maiden 2,300 meter, 15-hole program at
the southeastern half of
Sunawayo started in December 2020 and is due for completion
in March 2021. Three holes (SWD001, SWD002, SWD003) tested the
Pujiuni target (500 meters x 250
meters), with the remaining 12 holes testing the Caballo Uma target
which is over 8 times larger in size than
Pujiuni.
Of the
950 surface samples taken in late 2020 along an 8 km stretch
concentrating on aforementioned targets, 87% returned silver assays
of 1 g/t to 458 g/t silver. All 11 of the high-grade silver samples
(over 100g/t silver) were taken from Caballo Uma. So far, 50% of
Sunawayo (17 km span totaling 59.5 km2) has been mapped and
sampled while geophysical surveys are scheduled to commence in Q2
2021.
Joaquin
Merino, Company’s VP South American Operation
states:
“Sunawayo
is receiving the lion’s share of attention from Silver
Elephant’s 9 full-time geologists aiming to maximize the
Company’s silver resources. Positive assay results from the
remaining drill holes (SWD003 to SWD015) would confirm a major
silver discovery in the making at Sunawayo.”
The
Company is financed by leading Canadian investment banks and offers
elephant-sized silver exposure via its Sunawayo, Pulacayo, and
Triunfo projects.
Visit www.silverelef.com for
detailed Sunawayo maps.
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 for analysis to ALS Global laboratories in Lima, Peru.
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 were 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 mining and exploration company
of energy metals.
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.