West Coast Silver has confirmed a substantial high-grade silver resource at Elizabeth Hill, supported by exceptional drill results and a maiden Mineral Resource Estimate, setting the stage for accelerated development.
- Maiden 2.79Moz silver resource at 617 g/t Ag
- Bonanza-grade drill intercepts up to 33,107 g/t Ag
- 4,000m RC drilling underway to expand resource footprint
- New geophysical targets along Munni Munni Fault identified
- Strong cash position of $5.4 million after $3.2 million placement
Exceptional Drill Results Confirm Elizabeth Hill's High-Grade Potential
West Coast Silver (ASX:WCE) has delivered a striking validation of Elizabeth Hill as a high-grade silver system, with diamond drilling results revealing spectacular intercepts including 27.4 metres at 1,314 g/t silver from 49 metres, highlighted by a bonanza-grade 0.35-metre interval hitting 33,107 g/t (over 1,000 oz/t) silver. These assays underscore the project's capacity to host concentrated silver mineralisation with grades far exceeding typical industry standards.
Additional noteworthy results include 22 metres at 578 g/t silver from near surface and 1.95 metres at 1,252 g/t silver, confirming the lateral continuity and shallow nature of the mineralisation. The drilling program’s success not only validates historical production grades but also reinforces the potential for open-pit mining due to the shallow depth of mineralisation.
Maiden Mineral Resource Estimate Establishes 2.79Moz Silver Base
Following the drilling success, West Coast Silver announced its inaugural Mineral Resource Estimate (MRE) for Elizabeth Hill: 141,000 tonnes at 617 g/t silver, equating to 2.79 million ounces of contained silver. This resource is predominantly in the Inferred category (86%), with 14% classified as Indicated, setting a robust foundation for future resource upgrades through infill drilling.
The MRE benefits from a Whittle open pit optimisation that confirms reasonable prospects for economic extraction, capturing the majority of known mineralisation within an optimised pit shell. This economic modelling provides early validation of the project's development potential, particularly given Elizabeth Hill’s historically high grades and low tonnage mining profile.
Aggressive Drilling and Geophysics to Drive Resource Growth
To build on this foundation, West Coast Silver has initiated a substantial 4,000-metre Reverse Circulation (RC) drilling campaign targeting near-surface extensions along the Munni Munni Fault, a key structural control identified by a recent high-resolution drone magnetic survey covering 14 square kilometres. This survey delineated 28 structural targets, including eight within close proximity to the historic mine, providing a rich pipeline of exploration opportunities.
The RC drilling focuses on both northern and southern extensions of the mineralised system, aiming to rapidly expand the resource footprint and support an updated Mineral Resource Estimate later in 2026. Concurrently, a 1,500-metre diamond drilling program is underway to test down-dip and plunge extensions beneath the historic mine, representing the first systematic test of the structural model that could materially increase the known mineralisation at depth.
These programs are complemented by advanced geophysical methods including Down Hole Electromagnetics (DHEM), Borehole Magnetometric Resistivity, and surface Induced Polarisation surveys, designed to refine drill targeting and identify concealed mineralised zones. Notably, DHEM has already identified a new high-priority conductive target adjacent to the historic mine, which is being promptly drill tested with assay results expected progressively during Q2 2026.
Strong Financial Position and Technical Leadership
West Coast Silver's exploration momentum is underpinned by a solid balance sheet, with $5.4 million in cash at the end of March 2026 following a $3.2 million placement priced at an 11.9% discount to the 15-day VWAP. This capital raise was led by CPS Capital Group and positions the company to sustain its aggressive 2026 drilling and development programs.
The company has also bolstered its technical team with the appointment of Serge Smolonogov as Technical Director, bringing over 30 years of global exploration experience and a track record of significant mineral discoveries. His expertise is expected to enhance geological modelling and accelerate resource definition at Elizabeth Hill.
Exploration Upside Beyond Elizabeth Hill
While Elizabeth Hill remains the focal point, West Coast Silver holds a consolidated land package of approximately 180 square kilometres in the Tier-1 Pilbara region, including silver rights across multiple tenements. The company’s joint venture with Falcon Metals (ASX:FAL) at the Errabiddy project is poised to commence maiden RC drilling at the Olsen Well gold anomaly, pending heritage clearance. This gold target exhibits a significant soil anomaly extending 5.8 kilometres, offering additional exploration upside beyond silver.
West Coast Silver’s strategic consolidation and exploration across multiple projects reflect a diversified approach to value creation, though the current quarter concentrated on unlocking the high-grade silver potential at Elizabeth Hill.
Looking Ahead to Resource Expansion and Development Studies
The company’s 2026 outlook is ambitious, with ongoing RC and diamond drilling campaigns designed to expand the resource base and upgrade resource classifications. The integration of detailed geological, geophysical, and structural data aims to refine targeting and accelerate resource growth along the Munni Munni Fault corridor.
Progress toward a scoping study is planned to evaluate development pathways, leveraging Elizabeth Hill’s unique high-grade profile that promises lower mining and processing costs due to exceptional metal content in a compact orebody. The company’s technical and financial momentum positions it well to deliver further news flow and potentially transform Elizabeth Hill into one of Australia’s premier silver discoveries.
Investors should watch for assay results from ongoing drilling and updates to the Mineral Resource Estimate expected later in the year, which will be critical in assessing the project’s evolving economics and scale.
West Coast Silver’s recent advances build on its earlier initiatives, including the 4,000m RC drilling program and the new conductive anomaly identified by DHEM, underscoring a methodical approach to resource expansion and exploration efficiency.
Bottom Line?
Elizabeth Hill’s extraordinary grades and expanding resource base set a rare stage, but upgrading inferred resources and confirming economic viability remain key hurdles ahead.
Questions in the middle?
- How will upcoming assay results from deep diamond drilling influence resource classification upgrades?
- Can the new geophysical targets along the Munni Munni Fault translate into meaningful resource additions?
- What timeline and scope will West Coast Silver set for advancing scoping and development studies?