Silver Elephant Mining Corp 6-K, filed Sep 28, 2020
Silver Elephant Mining Corp. (SILEF)
6-K
2020-09-28
For: 2020-09-28
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April 06, 2026
About this 6-K
Silver Elephant Mining Corp filed this 6-K on September 28, 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 September,
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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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:
September 28, 2020
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/s/ Brigitte McArthurBrigitte McArthurCorporate Secretary
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INDEX TO EXHIBITS
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News
Release dated September 28, 2020
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Exhibit 99.1
Silver Elephant‘s Sunawayo Returns Assays
up to 477 g/t Silver and 20% Lead; All 48 Collected
Samples
from 4 Areas Return Anomalous Assayed Grades
Vancouver, British Columbia, September 28, 2020 – Silver
Elephant Mining Corp. (“Silver Elephant” or “the
Company”) (TSX: ELEF, OTCQX:SILEF, Frankfurt:1P2N)
announces
that all of the initial forty-eight chip and grab samples collected
from surface outcrops and adits at its Sunawayo silver project
(“Sunawayo”) returned anomalous Ag-Pb assayed values.
Ten of the assayed samples contain either over 100g/t silver or 10%
lead or both. The results vastly exceeded the Company’s
expectations and are an early indication of the potential for
multiple mineral discoveries at Sunawayo.
Located in central Bolivia, the Company’s Sunawayo project is
contiguous with the Malku Khota project (“MK”). The
Malku Khota deposit with a 350million-oz historic silver resource
sits 200 meters south of the Sunawayo-MK border (“MK
Border”). Sunawayo features a 17km property extent which
covers 59.5 square km of prospective area and includes an active
100 ton-per-day open-pit mining operation located 10km north of the
MK Border.
In the Company’s first-pass reconnaissance, undertaken while
possessing only limited site data, Silver Elephant geologists
identified at least four high priority areas along the 11km
lithological trend that hosts the Malku Khota deposit. These areas
are called Caballo Uma, Pujiuni, Mine Area and MK
Border.
Sunawayo photos, and maps of the sample locations are posted at
http://www.silverelef.com.
Caballo Uma
(28 samples; 1.6km
by 1.0 km)
Caballo Uma is located approximately 7km south of Mine Area and 5
km northwest of MK Border. There are numerous adits at Caballo Uma,
with samples returning high grade silver values over a span of 1.6
km in a southeast-northwest trend. Company geologists observed
mineralization associated with extensive, multiple east-west
trending vein systems, stockworks, and hydrothermal breccias.
Results from Caballo Uma are tabulated below:
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Sample ID
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Area
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Type
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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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93323
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Caballo Uma
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CHIP
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397
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2.63
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0.67
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475
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93329
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Caballo Uma
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CHIP
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293
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4.26
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2.04
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448
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93327
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Caballo Uma
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GRAB
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289
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1.92
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0.44
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344
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93324
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Caballo Uma
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GRAB
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288
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0.27
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0.01
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294
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93303
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Caballo Uma
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CHIP
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169
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12.55
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0.26
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452
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93321
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Caballo Uma
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GRAB
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158
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20.00
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0.01
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597
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93322
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Caballo Uma
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GRAB
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79
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1.14
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0.18
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110
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93328
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Caballo Uma
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GRAB
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77
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0.61
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0.24
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97
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93302
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Caballo Uma
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CHIP
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59
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3.02
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0.03
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126
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93325
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Caballo Uma
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GRAB
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48
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0.07
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0.44
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63
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93330
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Caballo Uma
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GRAB
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48
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10.05
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2.35
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339
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93305
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Caballo Uma
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CHIP
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28
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4.08
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0.02
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118
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93319
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Caballo Uma
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CHIP
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23
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1.73
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0.03
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62
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93320
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Caballo Uma
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GRAB
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22
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1.40
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0.02
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53
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Sample ID
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Area
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Type
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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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93301
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Caballo Uma
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CHIP
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14
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3.94
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0.01
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101
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93306
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Caballo Uma
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CHIP
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12
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1.43
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0.01
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44
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93316
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Caballo Uma
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GRAB
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9
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2.81
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0.61
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89
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93326
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Caballo Uma
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CHIP
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9
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0.02
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0.03
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10
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93314
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Caballo Uma
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CHIP
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8
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2.79
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0.45
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83
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93317
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Caballo Uma
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CHIP
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7
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0.59
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0.01
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20
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93313
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Caballo Uma
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CHIP
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6
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1.62
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0.41
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54
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93307
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Caballo Uma
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GRAB
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5
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3.43
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0.01
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81
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93304
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Caballo Uma
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GRAB
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5
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0.33
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0.00
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12
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93315
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Caballo Uma
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CHIP
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3
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0.50
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0.03
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15
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93318
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Caballo Uma
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CHIP
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3
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0.36
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0.10
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14
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93308
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Caballo Uma
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GRAB
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2
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0.87
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0.08
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23
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93311
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Caballo Uma
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GRAB
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0
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5.36
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2.70
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199
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93312
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Caballo Uma
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GRAB
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0
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0.20
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2.24
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72
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Pujiuni (11 samples; 1.0 km by 0.5 km)
Pujiuni is 3.5 km south of Mine Area and 8.5km northwest of MK
Border. It has several artisanal workings; some possibly dating
back to Spanish-era 1800’s. The Pujiuni area is known locally
to carry high grade silver minerals. One hydrothermal breccia
returned the highest silver assay at 477 g/t silver, and over 20%
lead. Mineralization is disseminated in sandstones or as stockwork
veins in hydrothermal breccias. These features have also been
observed in the Malku Khota deposit. Pujiuni results are tabulated
below:
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Sample ID
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Area
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Type
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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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93337
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Pijiuni
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CHIP
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477
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>20
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0.02
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916
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93334
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Pijiuni
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CHIP
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37
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4.28
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0.03
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132
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93336
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Pijiuni
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CHIP
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35
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0.59
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0.13
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52
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93338
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Pijiuni
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CHIP
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22
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0.63
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0.16
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41
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93335
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Pijiuni
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GRAB
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20
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0.37
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0.01
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28
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93339
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Pijiuni
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GRAB
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15
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0.32
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0.25
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29
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93332
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Pijiuni
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CHIP
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13
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1.88
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0.07
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56
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93342
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Pijiuni
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CHIP
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12
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0.96
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0.02
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34
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93341
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Pijiuni
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CHIP
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11
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0.40
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0.02
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20
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93331
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Pijiuni
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CHIP
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9
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1.11
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0.11
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37
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93333
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Pijiuni
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CHIP
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8
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0.26
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0.04
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15
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Mine Area (7 samples; 2.0km by 0.5km)
The current 100 tonne-per-day mining operation (“Mine
Area”) is located 10km from MK border. The area features a
180m by 70m small pit at 30 meters depth, and several
surrounding quarries. The mined materials are fed first to
a crusher,
and then to a gravimetric concentrator. The lead concentrate is
produced and exported. A single mine-feed sample
taken from the crusher assayed 223 g/t silver and over 20% lead.
Below the pit there are underground workings for silver mineral
extraction. The Company plans to maintain the status quo
for the mining operation but possibly expand it
in latter part of 2021 after evaluation. The priority for the
Company is to explore the property-wide mineral potential of
Sunawayo. Samples
from Mine Area are shown below:
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Sample ID
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Area
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Type
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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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93344
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Mine Area
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GRAB
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6
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1.56
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0.61
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58
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93343
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Mine Area
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GRAB
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4
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0.24
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0.02
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10
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93347
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Mine Area
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GRAB
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3
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>20
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0.01
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442
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93345
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Mine Area
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GRAB
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2
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1.84
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0.03
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43
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93346
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Mine Area
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GRAB
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1
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14.20
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0.25
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320
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93349
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Mine Area
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CHIP
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1
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2.85
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0.01
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64
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93348
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Mine Area
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GRAB
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0
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1.83
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0.66
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60
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MK Border (2 samples, border length 3km)
Just two samples were taken from sandstones at road cuts at the
3km-long the Sunawayo-Malku Khota border (“MK Border”).
Both samples showed the presence of silver as shown
below:
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Sample ID
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Area
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Type
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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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93310
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MK Border
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GRAB
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8
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0.05
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0.17
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14
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93309
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MK Border
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GRAB
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8
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0.01
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0.10
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11
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48 chip and grab samples, range in length from 1 to 4 meters
(2.4-meter average).
Silver equivalent calculation uses a silver price of $25.00/oz, a
zinc price of $1.10/lb., 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). Samples indicating >20% Pb are
calculated using 20% Pb.
Joaquin Merino, VP for South America Operations, commented:
“We are impressed by the size of Sunawayo and by what we saw
in the geology: intense alternation near the surface, coinciding
with numerous tunnels and artisanal workings in various parts of
the project. These confirmation assay results give us the first
tell-tale signs that there may be a cluster of deposits in this 110
km2
Sedex
system.”
With a daily COVID infection count of below 500 in Bolivia, the
Company is mobilizing to start geological and structural mapping to
ascertain the primary controls and trends for mineralization at
Sunawayo. This work will lay the foundation for defining drill
targets by year’s end.
About Sunawayo, Malku Khota, and Sedex deposits
Sunawayo is patented land which Silver Elephant has acquired from a
private party (refer to the new release dated September
8th,
2020), while Malku Khota (containing a historic resource of 350-million-oz silver based
on 42,704 meters of drilling between 2007 and 2010)
is
unpatented land administered by the Bolivian government. In January
2020, Silver Elephant applied for a mining production contract with
the Bolivian government that would give it the rights to mine and
explore Malku Khota. The application is under
review.
A combined Sunawayo-Malku Khota district would feature a 34 km
property extent encompassing an area of over 110 square kilometers.
The district is situated within one very large hydrothermal system
and is remarkably under-explored. Roughly 3.5 km of the strike from
MK border into Malku Khota project, has been drilled. Yet the Malku
Khota lithological trend and host-sandstone units extend for
another 8 km northwest into Sunawayo without having received a
single exploration drill hole.
Sedex-style silver-lead-zinc deposits account for 50% of the
world’s lead and zinc reserves and 30% of the world’s
silver resources (2019 USGS Data). Large, regional scale Sedex
systems can span hundreds of kilometers, forming large tonnage
deposits. Examples are Glencore’s Mount Isa mine and
Teck’s Red Dog mine.
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. Historic resource
numbers for the Malku Khota project cited in this release are taken
from the May 10, 2011 Technical Report completed by Geovector
Management Inc., AGP Mining Consultants, and Pennstrom Consulting.
A qualified person has not done sufficient work to classify the
historical estimate as current mineral resources or mineral
reserve, and the Company is not treating the historical estimate as
current mineral resources or mineral reserves.
Quality Assurance and Quality Control
Silver Elephant adopts industry-recognized best practices in its
implementation of QA/QC methods. Rock chip samples average between
4 and 6 kg. 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
Intermediate Level Four Acid Digestion. Silver overlimits
(“ore grade”) are analyzed using fire assay with a
gravimetric finish. 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. A geochemical standard control samples are inserted
into the sample stream. The laboratory also includes duplicates of
samples, standards and blanks for additional QA/QC. Check assays
are reviewed prior to the release of data. Assays are also reviewed
for their geological context and checked against field
descriptions.
About Silver Elephant
Silver Elephant 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 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.