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Silver Elephant Announces 4,500-Tonnes of Paca's Silver Oxide Delivered to Andean Precious Metals Corp. in October
Vancouver, British Columbia--(Newsfile Corp. - November 7, 2023) - Silver Elephant Mining Corp.&...
About this update from Silver Elephant Mining Corp
[{"type":"text","content":"Silver Elephant Announces 4,500-Tonnes of Paca's Silver Oxide Delivered to Andean Precious Metals Corp. in OctoberVancouver, British Columbia--(Newsfile Corp. - November 7, 2023) - Silver Elephant Mining Corp. (TSX: ELEF) (OTCQX: SILEF) (FSE:1P2) (\"Silver Elephant\" or the \"Company\")  is pleased to announce the Company has commenced mining Paca silver oxide materials (\"Products\") and trucking the Products to Andean Precious Metals Corp. (Andean). All Products are excavated from the Paca resources tabulated below.Pursuant to the sales and purchase agreement entered between Silver Elephant and Andean on September 12, 2023, approximately 4,500 tonnes of the Products with an average grade of 252 g/t Ag have been delivered to Andean's processing facility in Potosi since mid October. John Lee, Silver Elephant CEO comments: \"The progress and activities at Paca demonstrated team effort and community support. Silver Elephant aims to grow and maintain local employment; in addition to contributing to government royalties in the months and years ahead.\"In light of the successful early Phase 1 Paca project commissioning in October, the company is accelerating the time table of Phase 2 Paca sulphide development. The objective is to start mining Paca sulphide materials and truck them to one of several nearby milling plants that will produce lead-silver and zinc concentrates for sale in early 2024. Paca project hosts high grade silver resource according to a technical report by Mercator Geological Services, dated effective October 13, 2020 titled \"Mineral Resource Estimate Technical Report for the Pulacayo Project, Potosi Department Antonnio Quijarro Province Bolivia\" (the \"Technical Report\").PacaZoneCategoryTonnesAg g/tAg MozZn%Pb %Phase 1Oxide In Pit Indicated800,0002315.9Inferred235,0001591.2Phase 2Sulfide In Pit Indicated1,810,00025614.91.221.22Inferred190,0003382.10.610.98 Oxide resources are based on a Pit-constrained estimate using a 90 g/t Ag cutoff. Sulfide resources are based on a pit-constrained estimate using a 200 g/t Ag Eq cutoff. Ag Eq = Silver Equivalent (Recovered) = (Ag g/t*89.2%)+((Pb%*(US$0.95/lb. Pb/14.583 Troy oz./lb./US$17 per Troy oz. Ag)*(10,000*91.9%))+((Zn%*(US$1.16/lb. Zn/14.583 Troy oz./lb./US$17 per Troy oz. Ag)*(10,000*82.9%)). Sulphide zone metal recoveries of 89.2% for Ag, 91.9% fo...