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Author: Admin | 2025-04-28
Vancouver, British Columbia--(Newsfile Corp. - July 8, 2024) - Silver Elephant Mining Corp. (TSX: ELEF) (OTC Pink: SILEF) (FSE: 1P2) ("Silver Elephant" or the "Company") is pleased to announce it intends to begin phase one mining of sulphide materials this year at its Paca silver project in Potosi department in Bolivia. The company has completed design for a phase one underground mine plan at Paca aimed at extracting approximately 10,000 tonnes of mineralized materials. The objective is to generate cashflow, and verify the Paca resource model. The Paca sulphide project is outside the of scope of the oxide sales and purchase agreement and master services agreement with Andean Precious Metals Corp. ("Andean") detailed in the news release dated September 12, 2023. Phase one of the project plan is expected to last approximately 5 months, beginning in September 2024, starting with the development of a 367-meter tunnel at level 0 with dimensions of 2.4 meters height x 2.5 meters width at a 1% inclination into the Paca dome mineralization. The total length of the tunnel will cross an estimated waste section of 160 meters and mineral section of 207 meters. The tunnel will provide access to the mineralized materials, which will be mined using the shrinkage stoping method. The two stopes are designed with approximate dimensions of 30 meters length x 20 meters height x 4 meters width at a targeted peak extraction rate of 150 tonnes per day from November 2024 to January of 2025. The expected average grade of extracted and sorted sulphide materials is 412 g/t Ag, 1.09% Pb, 0.38% Zn based on diamond drill holes at Paca and internally developed mine model. This material is contained within the Paca Resource estimate Several examples of high-grade intercepts within the engineered mineralized mining zone include: Hole ID From m To m Length m True Width m Ag g/t Pb % Zn % PND004 86 97 11 7.78 481 0.47 0.2 PND008 47 63 16 11.31 507 1.14 0.57 PND008 111.9 127 15.1 10.68 424 1.96 2.65 PND023 125 157 32 26.21 437 1.69 1 PND092 38 52 14 9.90 522 0.77 0.09 PND110 61 72 11 7.78 715 2.14 210 The full drill hole assay results have previously been released on SEDAR. Capital Expenditure, Processing, and Concentrate Sales The company owns the necessary underground mining equipment that is warehoused near Paca at the historic Pulacayo mine site. This will
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