- Silver Elephant Mining has announced it mined more than 30,800 tons of oxide materials and shipped to Andean Precious Metals
- Between October and December, the company mined the materials with an average grade of 162.2 g/t silver and were excavated from the Paca resources
- Andean Precious Metals will pay US$1.8 million to Silver Elephant by the end of January
- Shares of Silver Elephant Mining are up 15.38 per cent to C$.30 as of 12:06 pm ET
Silver Elephant Mining (TSX:ELEF) has mined more than 30,844 tons of oxide materials from its Paca Project between October and December 2023, the company announced Friday, having trucked the products to Andean Precious Metals.
In a news release, the Vancouver-based company stated the materials mined had an average grade of 162.2 g/t silver and were excavated from the Paca resources.
The Paca project is part of Silver Elephant’s Pulacayo project with a total indicated resource of 106.7 million ounces silver, 1.4 billion pounds of zinc and 690 million pounds of lead.
“The continued progress and activities demonstrated Paca operational scalability at close to 1,000 tons per day,” John Lee, CEO of Silver Elephant, said in a statement. “Silver Elephant aims to expand and maintain local employment; in addition to contributing to government royalties in the months and years ahead.”
It is estimated that Andrean Precious Metals will pay to Silver Elephant a total of US$1.8 million by the end of January or when 36,000 tons of product has been delivered to its processing facility.
According to Silver Elephant, the Paca project is host to a high-grade silver resource as per a technical report effective Oct. 13, 2020.
Silver Elephant Mining is a silver mining and exploration company with projects under its belt including the Pulacayo Paca silver-lead-zinc property in Bolivia; the El Triunfo gold-silver-lead-zinc project in Bolivia; the Gibellini vanadium property in Nevada; and the Minago nickel property in Canada
The company also owns or holds 100 per cent interests in a range of projects, including the Titan vanadium-titanium-iron project in Ontario; the Ulaan Ovoo coal project in Mongolia; and the Chandgana Khavtgai and Tal coal projects in Mongolia.
Shares of Silver Elephant Mining are up 15.38 per cent to C$.30 as of 12:06 pm ET.
Join the discussion: Find out what everybody’s saying about this stock on the Silver Elpehant Mining Bullboard, and check out the rest of Stockhouse’s stock forums and message boards.
The material provided in this article is for information only and should not be treated as investment advice. For full disclaimer information, please click here.