Silver Elephant Mining Corp 6-K, filed Aug 30, 2021
Silver Elephant Mining Corp. (SILEF)
6-K
2021-08-30
For: 2021-08-30
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April 06, 2026
About this 6-K
Silver Elephant Mining Corp filed this 6-K on August 30, 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 August
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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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: August 30,
2021
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By:
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/s/ "Irina Plavutska"
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Irina
Plavutska
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CFO
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INDEX TO EXHIBITS
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News
release dated August 30, 2021.
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Exhibit 99.1
Silver Elephant’s El Triunfo Grab Samples Assayed Up to 294
g/t Silver, Drilling at Pulacayo (Silver) Continues Past
1,972m
Vancouver, British Columbia, August 30, 2021 – Silver
Elephant Mining Corp. (“Silver Elephant” or “the
Company”) (TSX: ELEF, OTCQX:SILEF, Frankfurt:1P2N)
is pleased to report the
ongoing exploration at both the Pulacayo silver project and the El
Triunfo gold-silver project in Bolivia are yielding encouraging
results as follows:
Pulacayo District Exploration (silver, lead, zinc)
Further to news dated June 21, 2021, Silver elephant has drilled
1,972 meters of its announced 2,000m drill program. Drilling has
been completed at El Abra, Veta Quattro, and Pacamayo prospects
identified through mapping and 2021 IP survey at Pulacayo District.
These are distant unexplored targets located up to 1km from the
Pulacayo Tajo Vein System (“TVS”) whereat all of the
historic production of 678 Moz occurred as reported by the National
Geological and Mineral Service of Bolivia
(SERGEOTECMIN)
Drilling at Pacamayo (1km north of the NI-43 101 Pulacayo resource
that is upper part of TVS) has confirmed visual concentrations of
galena, tetrahedrite and sphalerite between 490 to 560 meters depth
matching a high IP chargeability, which extends beyond a depth of
500 meters and exceeds the IP depth detection limit.
The Company is currently drilling PUD 293 at the Pero area about
500 meters south of Pulacayo resource where an IP anomaly is
detected at a depth between 250 to 500 meters. PUD293 is located
300 meters southwest of PUD286 (also outside of Pulacayo Resource)
which intercepted 4meters of 393 g/t Ag, 3.79% Zn, 0.88%Pb at
148-meter downhole (see Company’s press release dated January
27, 2021). The IP target for PUD 293 corresponds favorably to a
mapped structure that strikes westward from PUD 286.
All prior Pulacayo drilling focused primarily on upper part of
Pulacayo TVS and the Paca satellite deposit (7km north of TVS)
which define the Pulacayo resource of an Indicated mineral category
of 106.7 million oz of silver, 1,384.7 million pounds of zinc, and
693.9 million pounds of lead. The Indicated Pulacayo resource is 48
million tonnes grading 69g/t silver, 1.3% zinc, 0.7% lead based on
over 100,000 meters of drilling. The resource calculation was
completed by Mercator Geotechnical Services (refer to news release
dated October 13, 2020).
It should be noted that the Pulacayo TVS showed up in the IP survey
with high chargeability and medium resistivity, and that many of
the IP anomalies such as Pacamayo in the survey carry very similar
IP signatures to the TVS which is what makes these targets
compelling.
Matrix Geotechnologies Limited of Canada has recently returned from
a brief break to commence surveying at Paca as part of the expanded
108 line-km IP program which so far keeps on finding additional
targets which the Company will assess for possible
drilling.
El Triunfo project (gold silver lead zinc)
Silver Elephant has completed a 30 line-km IP survey at its El
Triunfo project and has identified several IP anomalies. Of
particular interest is an anomaly that extends 200m east of the
artisanal workings where all prior exploration and drilling
occurred. The east anomaly measures 50 to 75m wide, and 200m along
strike and appears to be 100 to 200 meters from surface. This
anomaly is open to the east as the Company ground crew compiles
remaining data to determine its full dimensions. This east anomaly
has never been drilled and exhibits the same IP signature as prior
drilled areas beneath the artisanal workings to the west.
Significant prior drill results at El Triunfo west are tabulated
below as reference (refer further to news release dated November
25, 2020):
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Hole ID
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From-To
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Length
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Au
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Ag
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Zn
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Pb
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AuEq
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(m)
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(g/t)
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(g/t)
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%
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%
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(g/t)
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||
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TR006
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40.0-76.0
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36
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0.49
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15.46
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0.54
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0.44
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0.97
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including…
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58.0-72.0
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14
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0.48
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20.23
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0.76
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0.66
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1.16
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TR007
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13.0-111.9
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98.9
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0.37
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22.71
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0.74
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0.58
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1.04
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including…
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63.0-111.9
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48.9
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0.42
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35.49
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1.17
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0.83
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1.45
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TR008
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6.8-84.0
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77.3
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0.31
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17.65
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0.57
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0.53
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0.85
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including…
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45.0-51.4
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6.4
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1.6
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56.49
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1.66
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0.94
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3.05
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Gold equivalent calculation uses a gold price of $1,795, a zinc
price of $0.93, a lead price of $0.80, and a silver price of $18.30
(all USD), and assumes a 100% metallurgical recovery. Gold
equivalent values can be calculated using the following formula:
AuEq = Au g/t + (Ag g/t x 0.0102) + (Zn % x 0.3551) + (Pb % x
0.3055). Based on core-angle
measurements, true widths range from 54% to 65% of reported core
length.
Significant assay results from a total of 74 surface samples, taken
as part of the mapping program on this eastern extension, are
tabulated below.
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Sample No.
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Type
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Width (m)
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Au (g/t)
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Ag (g/t)
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Zn %
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Pb %
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AuEq (g/t)
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3495
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CHIP
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0.6
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4.3
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173.0
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0.07
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2.50
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6.8
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3494
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CHIP
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1.0
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2.4
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34.4
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0.12
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0.55
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3.0
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3477
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CHIP
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1.1
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2.3
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44.9
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5.88
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6.57
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6.9
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6558
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CHIP
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2.4
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1.9
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1.1
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0.00
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0.00
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1.9
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6572
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CHIP
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1.9
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1.4
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0.6
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0.00
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0.00
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1.4
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3488
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CHIP
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1.0
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0.9
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8.0
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0.00
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0.00
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1.0
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3500
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CHIP
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2.2
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0.9
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187.0
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4.48
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5.40
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6.0
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6503
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CHIP
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1.0
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0.7
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15.4
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0.32
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1.00
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1.3
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3499
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CHIP
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2.6
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0.7
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38.0
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0.06
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1.03
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1.4
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6582
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CHIP
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0.3
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0.7
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294.0
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2.09
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6.11
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6.3
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3475
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CHIP
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3.0
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0.5
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124.0
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0.90
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4.74
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3.5
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6517
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CHIP
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1.1
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0.3
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24.0
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3.08
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0.76
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1.9
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Gold equivalent calculation uses a gold price of $1,795, a zinc
price of $0.93, a lead price of $0.80, and a silver price of $18.30
(all USD), and assumes a 100% metallurgical recovery. Gold
equivalent values can be calculated using the following formula:
AuEq = Au g/t + (Ag g/t x 0.0102) + (Zn % x 0.3551) + (Pb % x
0.3055).
The grades are very similar to, and in some cases higher than the
grades from previous grab samples in artisanal workings area to the
west.
The IP anomaly correlate to the findings from the Company’s
geological mapping program which demonstrates that both the sheeted
vein system, and host rocks (Tertiary-aged black shales) to the
polymetallic mineralization intercepted at prior El Triunfo drill
holes, extend another 1.5km eastward.
So far, the identified mineralized strike on the project has
expanded from 750m to 2.3km, the Company is working to prioritize
drill targets based on all available information to commence
October drilling.
Silver elephant looks forward to exploring and developing both
Pulacayo and El Triunfo to their full potential with singular
focus, in light of the Company’s recently announced plan to
spin out its nickel and vanadium assets by year end as announced on
August 26, 2021.
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 Thompson-Howarth plots. Samples are shipped to
ALS Global Laboratories in Ururo, Bolivia for preparation and then
shipped to ALS Global laboratories in Lima, Peru for analysis.
Samples are analyzed using an aqua regia digestion with super trace
ICP-MS analysis. Gold is analyzed with optimized fire assay and
atomic absorption spectroscopy.
The ALS Laboratories sample management system meets all the
requirements of 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 and 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. Prior to sampling,
all core is geotechnically analyzed and photographed and then
logged by geologists.
Qualified Persons
The technical contents of this news release have been prepared
under the supervision of Danniel Oosterman, VP Exploration for
Silver Elephant. Mr. Oosterman is a “qualified person”
as defined by National Instrument 43-101 – Standards of
Disclosure for Mineral Projects (“NI 43-101”) and is
not independent of the Company as this term is defined under NI
43-101.
About Silver Elephant
Silver Elephant Mining Corp. is a premier mining and exploration
company in silver, nickel, and vanadium.
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 the 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.