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Silver Elephant Delivered 31,693 Tonnes of Paca Minerals Grading 184g/t Silver in October, Set New Monthly Production Record
Vancouver, British Columbia--(Newsfile Corp. - November 19, 2024) - Silver Elephant Mining Corp....
About this update from Silver Elephant Mining Corp
[{"type":"text","content":"Silver Elephant Delivered 31,693 Tonnes of Paca Minerals Grading 184g/t Silver in October, Set New Monthly Production RecordVancouver, British Columbia--(Newsfile Corp. - November 19, 2024) - Silver Elephant Mining Corp. (TSX: ELEF) (OTCQB: SILEF) (FSE: 1P2) (\"Silver Elephant\" or the \"Company\") announces that in October 2024, the Company mined a total of 31,693 tonnes of oxide materials (1,022 tonnes per day) with an average grade of 184 g/t silver from its Paca project (\"Products\") and trucked the Products to Andean Precious Metals Corp. (\"Andean\") in Potosi department, Bolivia. The Company has mined and shipped 237,377 tonnes of silver-bearing oxide materials grading 181 g/t silver, which is 1,300,144 oz of silver based on reported government tax records, since Paca's operation began in October 2023. The operation has seen remarkable grade consistency, and experienced no lost time incidents.Paca Production by MonthMonthTonnesGrade g/t23-Oct4,50124323-Nov7,26415623-Dec19,07414524-Jan4,28314624-Mar15,80918224-Apr20,89419524-May25,99218024-Jun29,28017524-Jul27,03918524-Aug22,66919324-Sep28,87918924-Oct31,693184Total237,377181 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. At the current silver price and production run rate, the Company expects to receive US$2.5 million before January 31, 2025 and remain debt-free. In addition, Andean has also agreed to reimburse Silver Elephant for operating expenses under the sales and purchase agreement detailed in the news release dated September 12, 2023.Alongside the ongoing Paca oxide operation, Silver Elephant launched tunnel development for the Paca sulfide project in August, 2024, as outlined in the Company's July 8, 2024 news release. Revenue from the sulfide operation, which is not included in the agreements with Andean, is anticipated by the end of 2024. 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 %...