Silver Elephant Engages Wood PLC to Conduct Preliminary Economic Assessment on Gibellini Vanadium Project
ACCESSWIRE
31 May 2021, 22:05 GMT+10
VANCOUVER, BC / ACCESSWIRE / May 31, 2021 / Silver Elephant Mining Corp. ( Silver Elephant or the Company ) (TSX:ELEF, OTCQX:SILEF, Frankfurt:1P2N) announces that the Company s wholly owned subsidiary Nevada Vanadium LLC. (
Nevada Vanadium ) has commissioned a Preliminary Economic Assessment (
PEA ) in accordance with National Instrument 43-101 -
Standards of Disclosure for Mineral Projects (
NI 43-101 ) in respect of its Gibellini vanadium project, located in Eureka Country, Nevada, USA.
Vanadium is one of the best performing metals of 2021. Vanadium pentoxide price has risen 52% from US$5.4/lb in early January to US$8.2/lb today. The Gibellini project encompasses the Gibellini, Louie Hill, and Bisoni McKay properties which the Company acquired in 2017 and 2020.
Silver Elephant Mining Corp.: Silver Elephant Engages Wood PLC to Conduct Preliminary Economic Assessment on Gibellini Vanadium Project
Nevada Vanadium ) has commissioned a Preliminary Economic Assessment (
PEA ) in accordance with National Instrument 43-101 -
Standards of Disclosure for Mineral Projects (
NI 43-101 ) in respect of its Gibellini vanadium project, located in Eureka Country, Nevada, USA.
Vanadium is one of the best performing metals of 2021. Vanadium pentoxide price has risen 52% from US$5.4/lb in early January to US$8.2/lb today. The Gibellini project encompasses the Gibellini, Louie Hill, and Bisoni McKay properties which the Company acquired in 2017 and 2020.
The PEA will be prepared in collaboration between Wood PLC (
McEwen Mining: Updated Gold Bar Resource and Reserve Estimates
TORONTO , Jan. 07, 2021
McEwen Mining Inc. (NYSE: MUX) (TSX: MUX) is pleased to announce an updated Indicated Resource Estimate of
499,000 contained gold ounces and Probable Reserve Estimate of
302,000 recoverable gold ounces for the Gold Bar Mine in Nevada (“Gold Bar”). See Tables 1-3 for the updated estimates.
Gold Bar’s estimated after-tax net present value (NPV) discounted at 8% and using a gold price of $1,500/oz is in the range of
$62 to $76 million; while the upside case at a gold price of $1,900/oz is in the range of
$150 to $170 million. Potential mine life is in the range of 5 to 7 years based on currently estimated reserves.
Notes:
Mine Past Production (58,600 oz Au) + Current Reserves (302,000 oz Au) = 360,600 oz Au is 16.1% lower that 430,000 oz Au
Mineral Resources were estimated at a price of $1,725/ounce Au and are inclusive of Mineral Reserves. Mineral Resources are not Mineral Reserves and do not have demonstrated economic viability. There is no certainty that any part of the Mineral Resources estimated will be converted into a Mineral Reserves estimate. Mineral Resources were estimated using the guidelines set out in the CIM Definition Standards for Mineral Resources. Mineral Resources as stated are contained within an optimised pit shell that demonstrates reasonable prospects for eventual economic extraction.