CleanTech Vanadium Mining has finalised the acquisition of rights to the El Triunfo gold and antimony project in Bolivia from Silver Elephant Mining for C$155,000 ($112,430) in cash.
Located near the capital city of La Paz, the project covers an area of approximately 256 hectares (ha).
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On 8 April 2025, the two companies entered into an agreement allowing CleanTech to take over Silver Elephant’s rights to purchase 100% equity interests in Mururata, which owns the mining rights to the Triunfo Project.
Oracle Commodity Holding, a major shareholder in CleanTech, is also significantly owned by Silver Elephant, establishing a related-party relationship between the companies under Multilateral Instrument 61-101.
The transaction’s value does not exceed 25% of CleanTech’s market capitalisation, which was approximately C$6.45m as of 5 August 2025, allowing CleanTech to utilise exemptions from formal valuation and minority approval requirements.
Silver Elephant’s exploration efforts at El Triunfo have yielded positive results, with the initial drilling in 2020 uncovering 49m at 0.42 grams per tonne (g/t) of gold, 35g/t silver, 1.2% zinc and 0.8% lead.
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By GlobalDataThe mineralisation at El Triunfo is hosted in meta-sediments dating back to the Silurian and Devonian periods. These meta-sediments have been intruded by plutonic batholiths, which are believed to be related to the mineralising events.
This type of mineralisation is not uncommon in Bolivia, with similar occurrences found at Cerro Rico and Porco.
The maiden drill programme conducted by Silver Elephant has confirmed the mineralisation’s broad continuity, spanning at least 225m in strike and remaining open beyond 100m depth in both east and west directions.
The mineralisation is primarily found in altered black shales, featuring hydrothermal sheeted quartz-carbonate vein sets concentrated along regional anticlinal fold structures.
