Elizabeth Hill Drilling Yields Native Silver in 9 of 13 Holes; $3.2M Capital Raised

Drilling Advances at Elizabeth Hill

West Coast Silver Limited has made notable progress in its exploration efforts at the Elizabeth Hill Silver Project in Western Australia's Pilbara region. The company completed its Phase 2 diamond drilling program, comprising 13 holes totaling just over 1,000 metres, aimed at refining near-surface oxide continuity and testing deeper down-plunge targets beneath historical workings. Visual inspections using portable X-ray fluorescence (pXRF) confirmed the presence of silver minerals in nine of these holes, with drill hole 25WCDD014 standing out for intersecting three distinct intervals of native silver.

Complementing this, a 76-hole aircore drilling campaign was conducted near the mine and across regional prospects. This program identified compelling geological indicators such as chlorite-silica alteration, carbonate veining, and iron oxide staining, features consistent with the structural setting of known high-grade silver mineralisation at Elizabeth Hill. The aircore drilling also confirmed the presence of a fertile ultramafic–granite contact at several prospects, which aligns with the geological environment of the historical deposit.

Expanding the Footprint and Processing Partnerships

West Coast Silver has consolidated a substantial land position of approximately 180 square kilometres, targeting additional silver deposits analogous to Elizabeth Hill along the prospective Munni Munni fault corridor. This strategic expansion underscores the company's ambition to uncover further high-grade mineralisation in a Tier 1 mining jurisdiction.

In a strategic move to advance project development, West Coast Silver entered into a non-binding Memorandum of Understanding with Artemis Resources Limited to jointly evaluate processing options for Elizabeth Hill ore at the nearby Radio Hill Processing Plant. This collaboration could provide a cost-effective pathway to process material from the silver mine, leveraging existing infrastructure.

Financial Strength and Technical Expertise Bolster Outlook

Following the quarter, West Coast Silver successfully raised $3.2 million through a share placement priced at $0.19 per share, representing an 11.9% discount to the 15-day volume weighted average price. This capital injection has strengthened the company's cash position to $6.7 million, providing a solid financial foundation to support ongoing and planned exploration activities, including assay processing, resource definition, and further drilling.

The company has also bolstered its technical and business development teams with key appointments, including David Lewis and Ian Stockton to the Technical Advisory Board and Simon Tonkin as Business Development Manager. These additions aim to enhance exploration strategy and stakeholder engagement as West Coast Silver advances its projects.

Looking Ahead

Assay results from both the diamond and aircore drilling programs are eagerly awaited, expected in late January and February 2026 respectively. These results will be critical in validating the visual observations of native silver and guiding the next phase of exploration. Meanwhile, ongoing geological modelling, drone magnetic surveys, and geophysical studies continue to refine target areas within the extensive land package.

While the company’s focus remains firmly on Elizabeth Hill, its joint venture with Falcon Metals Ltd at the Errabiddy Gold Project is poised to commence drilling pending heritage clearance, potentially adding further value to West Coast Silver’s portfolio.