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Prophecy Adds Second Drilling Rig to Pulacayo Silver Project in Bolivia
VANCOUVER, BC / ACCESSWIRE / January 8, 2020 / Prophecy Development Corp. ("Prophecy" or the ...
About this update from Silver Elephant Mining Corp
[{"type":"text","content":"Prophecy Adds Second Drilling Rig to Pulacayo Silver Project in BoliviaVANCOUVER, BC / ACCESSWIRE / January 8, 2020 / Prophecy Development Corp. (\"Prophecy\" or the \"Company\") (TSX:PCY)(OTCQX:PRPCF)(Frankfurt:1P2N) is pleased to provide the following update on its 100% owned Pulacayo silver project located in Bolivia.Further to its news release dated December 18th, 2019, Prophecy reports it has completed the first 3 holes of the planned 17 drill holes at the Pulacayo project. These step-out drill holes are located 25-, 50- and 115 meters west of the existing Pulacayo resource model. The first assay results are expected in late January.Prophecy has also mobilized a second drilling rig to Pulacayo and expects to complete the proposed 5,000 meter drill program in February with full assay results available by March 2020. The remainder step out drill holes are collared up to 2km west from the existing resource model.Joaquin Merino, VP South American Operations, commented, \"Pulacayo is a very large mineralized system, and with this program we will test the boundaries of mineralization near the surface. Based on a review of the current and past artisanal mining conducted on the surface, there is strong evidence that the Tajo Vein (where underground mining took place from early 1800 to 1952) projects to surface along its 3km strike\"The Pulacayo deposit currently has a NI43-101 compliant resource of 2.08 million tonnes at Ag 455 g/t, Pb 2.18%, Zn 3.19% in the indicated category. It also has 0.48 million tonnes at Ag 406 g/t, Pb 2.08%, Zn 3.93% in the inferred category. The Company estimates that the amounts of metals of the indicated category are 30.4 million ounces of silver, 100.0 million pounds of lead, and 146.3 million pounds of zinc. The Company estimates that the amounts of metals of the inferred category are 6.3 million ounces of silver, 22.0 million pounds of lead, and 41.6 million pounds of zinc (see Company report \"UPDATED MINERAL RESOURCE ESTIMATE TECHNICAL REPORT for the PULACAYO PROJECT,\" by Mercator effective October 20, 2017; available at SEDAR.COM).Qualified PersonThe 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 defin...