Business
Silver Elephant Announces Monthly Record 20,894 Tonnes of Oxide Averaging 194.2 g/t Silver Delivered to Andean Precious Metals in April 2023
Vancouver, British Columbia--(Newsfile Corp. - May 14, 2024) - Silver Elephant Mining Corp. ...
About this update from Silver Elephant Mining Corp
[{"type":"text","content":"Silver Elephant Announces Monthly Record 20,894 Tonnes of Oxide Averaging 194.2 g/t Silver Delivered to Andean Precious Metals in April 2023Vancouver, British Columbia--(Newsfile Corp. - May 14, 2024) - Silver Elephant Mining Corp. (TSX: ELEF) (OTC PINK: SILEF) (FSE: 1P2) (\"Silver Elephant\" or the \"Company\") announces in April, the Company mined a total of 20,894 tonnes of Paca oxide materials with an average grade of 194.2 g/t silver (\"Products\") and trucked the Products to Andean Precious Metals Corp. (\"Andean\").John Lee, CEO of Silver Elephant commented: \"Our Bolivian operation set a new monthly record in both Product tonnages (averaging 700 tonne-per-day) and gross metals content delivered to Andean. The Company has been expanding Bolivian activities with the cash-flow from Paca oxide sales since October 2023. Silver Elephant has become a major employer at the Pulacayo township, and we would like to thank the local community and our partners for their continued support. The Company is stabilizing the Paca oxide production rate and advancing towards Paca's phase 2 sulphide production. Paca's potential future sulphide production would provide additional revenue stream to Silver Elephant.\"MonthTonnesGrade g/tOct-234,502244.9Nov-237,269156.5Dec-2319,704144.9Jan-244,283146Mar-2415,809176.6Apr-2420,894 194.2 Total 72,461173.5  Pursuant to the sales and purchase agreement and master services agreement detailed in the news release dated September 12, 2023, Silver Elephant plans to sell and deliver up to 800,000 tonnes of Paca oxide materials to Andean for a total of between US$5 million and US$7 million depending on the silver price. Andean has also agreed to reimburse Silver Elephant for operating expenses under the sales and purchase agreement.The Paca project hosts a 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\"). The mineral resource estimate from the Technical Report is as follows: PacaZoneCategoryTonnesAg g/tAg MozZn%Pb %Phase 1Oxide In Pit Indicated800,0002315.9--Inferred235,0001591.2--Phase 2Sulfide In Pit Indicated1,810,00025614.91.221.22Inferred190,0003382.10....