- Silver Elephant Mining (ELEF) prepares a 12-hole drill program at Paca Silver Project in Bolivia
- The deposit is part of the company’s 100 per cent controlled Pulacayo silver-lead-zinc project in Bolivia
- All four step-out holes drilled in 2022 intercepted silver mineralization
- Also found was how the northern extension of Paca oxide resource is open to the north and the northeast
- Two remaining drill holes will test Induced-Polarization anomalies located southeast of the Paca Dome.
- Silver Elephant Mining (ELEF) is up over 5 and a quarter per cent, trading at C$0.48 at 9:34 pm EST
Silver Elephant Mining (ELEF) is preparing a drilling program at the Paca silver oxide open-pit deposit.
The paca-silver deposit
The deposit is part of the company’s 100 per cent controlled Pulacayo silver-lead-zinc project in Bolivia.
This drill program is a follow-up to the successful 2022 drill program, collared at the northern edge of the Paca resource and drilled farther north.
The hole intercepted 27 meters of 159 g/t silver from the near-surface, including 1.5 meters of 565 g/t silver.
All four step-out holes drilled in 2022 intercepted silver mineralization. They also found that the northern extension of Paca oxide resource is open to the north and the northeast.
The proposed 12-hole Paca drill program totals 1,510 meters. Eight drill holes target further expansion to Paca North oxide discovery based on available drilling, mapping, sampling, and geophysical data.
Two drill holes will test the east and west extensions of the Paca main zone. The two remaining drill holes will test Induced-Polarization anomalies located southeast of the Paca Dome.
“The 2023 Pulacayo-Paca plan includes a pre-feasibility study and continued environmental permitting efforts for an open-pit mining, oxide leach processing operation at Paca, which can later transition to sulphide flotation processing,” commented John Lee, CEO of Silver Elephant.
The Paca deposit contains an indicated 37 million oz of silver and an inferred 6 million oz of silver, much of it regarded as a manto-style deposit.
Most of the near-surface mineralization at Paca is classified as an oxide-silver resource containing an indicated 5.9 million oz of silver at 231g/t and an inferred 1.2 million oz of silver at 159g/t.
The future of the Paca deposit
The Paca deposit is 7 kilometres north of the Pulacayo deposit (the Tajo vein). It is part of the global Pulacayo resource.
The area has an indicated resource of 106.7 million oz of silver, 1.38 billion pounds of zinc, 690 million pounds of lead and an inferred resource of 13.1 million oz of silver and more.
Silver Elephant Mining is a premier silver mining and exploration company with its flagship Pulacayo silver project in Bolivia.
It also owns 100 per cent of Mega Thermal Coal Corp and 39 per cent of Oracle Commodity Holding.
Silver Elephant Mining (ELEF) is up over 5 and a quarter per cent, trading at C$0.48 at 9:34 pm EST.
