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Mining Stocks in Play - Silver Elephant Mining Corp. (TSX: ELEF) (OTC Pink: SILEF) Makes TSX Top Gainers List on News of Commencing 1,500-Meter Diamond Drilling Program at the Paca Silver Project in Bolivia


June 12, 2024 ( Newswire), a go-to platform for big investing ideas, reports on trading for Silver Elephant Mining Corp. (TSX: ELEF) (OTC Pink: SILEF) (FSE: 1P2), a silver mining company, with its flagship Pulacayo-Paca silver project in production since October 2023 in Bolivia.

The stock made the TSX top percentage gainers on the TSX, currently up 23.6% The stock is trading at $0.5500, up $0.1050.

Silver Elephant Mining just announce the commencement of a diamond drilling program at its open-pit Paca project in the Potosi district in Bolivia.

The initial drilling program consists of drilling 24 holes totaling 1,500 meters to test and confirm continuity of oxide mineralization at depth in the Paca north area. The proposed layout includes 10 of the 24 holes to be drilled outside of the Paca resource envelope, which could potentially expand the mineralized zone. To date, nine drill holes have been completed, with the deepest hole reaching a maximum depth of 81.30 meters. All cores from these drill holes have been sampled and the samples are being sent to ALS Global laboratories in Bolivia. The results of the first samples are expected to be received in June 2024. An industry-standard Quality Assurance / Quality Control program is being utilized.

This drill program is entirely paid for by Andean Precious Metals Corp. ("Andean"). 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.

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