Wedoany.com Report-Aug. 8, CleanTech Vanadium Mining has completed the acquisition of rights to the El Triunfo gold and antimony project in Bolivia from Silver Elephant Mining for C$155,000 (approximately $112,430) in cash. The project is situated near La Paz and covers a land area of around 256 hectares.

The El Triunfo Project, fully owned by Silver Elephant, reported promising signs of mineralisation during its initial drilling phase.

On April 8, 2025, CleanTech and Silver Elephant signed an agreement under which CleanTech obtained Silver Elephant’s rights to acquire 100% equity in Mururata, the company that holds mining rights to the El Triunfo Project. This agreement gives CleanTech full operational access to the site.

Oracle Commodity Holding, a major shareholder in CleanTech, is also significantly owned by Silver Elephant, creating a related-party relationship as defined by Multilateral Instrument 61-101. However, the deal’s total value is below 25% of CleanTech’s market capitalisation—estimated at C$6.45 million as of August 5, 2025—enabling CleanTech to rely on available exemptions from formal valuation and minority shareholder approval.

Silver Elephant previously conducted exploration activities at El Triunfo, with initial drilling completed in 2020. Results from that programme revealed a mineralised zone containing 49 metres at 0.42 grams per tonne (g/t) of gold, 35 g/t silver, 1.2% zinc, and 0.8% lead. These findings reflect the project’s potential and support continued exploration.

Geologically, the mineralisation is hosted within meta-sedimentary rocks dating from the Silurian and Devonian periods. These formations have been intruded by plutonic batholiths, which are believed to be linked to the mineralisation process. Similar geological features have been identified in other Bolivian mining regions, including Cerro Rico and Porco.

Silver Elephant’s initial drill programme demonstrated that the mineralisation is laterally continuous over at least 225 metres in strike and remains open beyond 100 metres depth, both to the east and west. The mineralised zone is primarily located within altered black shale formations, with mineral concentrations found along hydrothermal quartz-carbonate vein sets that align with regional anticlinal folds.

With the rights now secured, CleanTech is positioned to advance exploration and evaluation activities at El Triunfo, leveraging the initial positive results achieved by Silver Elephant.