Bolivia Map

El Triunfo Project Map

On July 13, 2020, Silver Elephant announced having entered into a binding sales and purchase agreement to acquire the El Triunfo Gold-Silver-Lead-Zinc Project.

Exploration was conducted in 2005–07 by Solitario Resources, which made 3 drill holes, all of which intercepted mineralization. Historical hole TR-001 returned 94.2 meters grading 0.65%Pb, 0.39%Zn, 21.8 g/t Ag, and 0.39 g/t Au (0.95 gpt AuEq), according to Solitario Resources SEC 10K filings. Only 20% of the property was explored by Solitario.

The mineralization is characterized by pyrite, arsenopyrite, galena, and sphalerite and carries gold, silver, and zinc and lead in various proportions.

Mineralization outcrops at the surface and continues for at least 750 meters in three discrete blocks, known as A, B, and C. The mineralized blocks have widths varying from 20m to 150m and are locally displaced for several meters by north-east trending faults.

In the past decade, some artisanal mining has been developed where gold mineralization has been identified. Those areas have been principally mined for gold. They demonstrate a continuity of mineralization along the strike and to modest depths.

The Triunfo Project contains polymetallic vein-style mineralization hosted in metasediments of the Silurian and Devonian periods. The metasediments were intruded by nearby plutonic batholiths which are likely related to the mineralizing event. This style of mineralization is well documented in Bolivia. Examples include Cerro Rico and Porco, located in and around Potosi.

The mineralization is characterized by multiple veins (up to 1.0m wide) and veinlets. They are emplaced along fractures and faults that have developed on the flanks of an east-west trending anticlinal-synclinal sequence. Mineralization is also noted to occur in the sedimentary planes between slate layers. The slate layers can manifest as stockwork-style mineralization which tends to be elongated parallel to the anticlinal axis.

On August 19, 2020, it has received the complete assay results from the Company’s first diamond drill program at its 100%-controlled El Triunfo Au-Ag-Zn-Pb project in Bolivia.

Borehole TR007 intercepted 48.9 meters of mineralization grading 0.42 g/t gold, 35.5 g/t silver, 1.17% zinc, and 0.83% lead (1.45 g/t AuEq) within 98.9 meters of mineralization grading 1.04 g/t AgEq starting 13.0 meters downhole. Exploration targets have insufficient exploration data to define a mineral resource.

Silver Elephant’s maiden drill program at El Triunfo successfully demonstrates broad continuity of east-west mineralization spanning a minimum 225 meters in strike. It is open beyond 100 meters depth in both east and west directions.

Mineralization is hosted in altered black shales exhibiting hydrothermal sheeted quartz-carbonate vein sets that are concentrated along the axes of regional anticlinal fold structures.

Assay results are detailed in the table below:

In January 2023, Silver Elephant announced diamond drilling results from five holes totaling 1,500 meters were drilled on El Triunfo West Block (“TWB”) and newly discovered El Triunfo East Block (“TEB”) based on induced polarization (“IP”) geophysical anomalies identified in 2021.

Triunfo Drill Hole Collar Plan

TR-009 encountered 14 meters of 2.5 g/t AuEq and TR010 drilled 1.2 meters of 7.7 g/t within 45 meters grading 0.7 AuEq (see Company’s press release dated April 4, 2022). TR009 and TR010 were drilled at eastern and western edges of the Triunfo West block (known strike 750 meters, “TWB”) and successfully expanded the mineralized width and open up the exploration prospects immediately west of the TWB.

TR011, -012, -013 are drilled at wide spacing at the Triunfo East block (“TEB”), a 1.5 kilometer extension to the TWB that is separated by a fault that resulted in this area being previously unexplored until recently.

TR-011 encountered separate intersections of 2 meters of 2.87 g/t AuEq (0.42 g/t Au, 81 g/t Ag, 2.04% Pb, 4 meters of 1.72 g/t AuEq (0.34 g/t Au, 46 g/t Ag, 1.16% Pb, 0.78% Zn), and 1.29% Zn), and 1 meter of 3.5 g/t AuEq (1.4 g/t Au, 75 g/t Ag, 1.82% Pb, and 2.35% Zn) within 298 meters grading 0.14 AuEq, starting from 2 meters downhole.

TR-012 encountered 2 meters of 1.3 g/t AuEq (0.94 g/t Au, 11 g/t Ag, 0.30% Pb, 0.21% Zn), 1 meter of 2.76 AuEq (0.34 g/t Au, 45 g/t Ag, 1.15% Pb, 3.04% Zn), 1 meter of 3.4 AuEq (2.7 g/t Au, 26 g/t Ag, 0.671% Pb, 0.583% Zn), and 2 meters of 2.1 g/t AuEq (1.54 g/t Au, 12 g/t Ag, 0.47% Pb, and 0.76% Zn).
TR-013 encountered 25.7 meters of 1.1 g/t AuEq (0.4 g/t Au, 27 g/t Ag, 0.88% Pb, 0.58% Zn), 3 meters of 3.3 AuEq (1.1 g/t Au, 74 g/t Ag, 2.82% Pb, 1.47% Zn), and 2.6 meters of 1.98 AuEq (0.13 g/t Au, 70.3 g/t Ag, 1.72% Pb, 0.68% Zn).

The results from drill holes TR-011, TR-012 and TR-013 triples the strike length of the Truinfo polymetallic target which is now over 2 kilometers long and indicate that a large mineralizing system is present with notable high grade intercepts. Additional geologic work will be conducted to determine the lithologic and structural controls of the mineralization to come up with high grade drill targets.

Reported results are tabulated below:

*AuEq: Gold equivalent calculation uses a gold price of $1,815, a zinc price of $1.38, a lead price of $1.07, and a silver price of $24.00 (all USD) and assumes a 100% metallurgical recovery. Gold equivalent values can be calculated using the following formula: AuEq = Au g/t + (Ag g/t x 0.0102) + (Zn % x 0.3551) + (Pb % x 0.3055). Core widths are not true widths. True widths are estimated to range between 45-78% of true widths based on core angle measurements.

 

Photo Gallery