Errawarra Resources rebrands as West Coast Silver, completes Elizabeth Hill acquisition and raises $3m for exploration

• Errawarra Resources will rebrand as West Coast Silver as it completes acquisition of Elizabeth Hill silver project in WA’s Pilbara region
• Company raised $3m to advance exploration at the project
• Inaugural drilling to test extensional and down plunge targets to start in a few weeks

Special Report: Errawarra Resources shareholders have approved the company’s rebrand as West Coast Silver and has marked its shift to becoming a silver-focused explorer and developer by completing the acquisition of the Elizabeth Hill project in WA’s Pilbara region.

While the project doesn’t have a current JORC resource, it is a proven quantity after producing some 1.2Moz of silver at an impressive 2194g/t head grade in a single year before operations ceased in 2000 amid low silver prices of ~US$5/oz.

Elizabeth Hill also benefitted from only needing low-cost gravity separation to recover native silver.

Importantly for West Coast Silver (proposed ticker ASX:WCS), Elizabeth Hill also has plenty of untapped potential in the ground, remaining open at depth, while the recent consolidation of the land package has put the full scope of targets in the region under the control of one owner for the first time.

The project sits within a mining lease with a potential processing option at the nearby Radio Hill plant.

Recent surface sampling has returned elevated pXRF readings of up to 920g/t silver ~300m to the north and ~150m to the south of the historical mine.

While pXRF is not a replacement for laboratory analysis, it does help with identifying areas of promise that could become drill targets.

Placement to advance exploration 

West Coast Silver has also finalised a $3m capital raising to strengthen its financial position to unlock the project’s full potential.

It has started fieldworks on site where the pXRF returned strong results.

WCS has also awarded inaugural drilling works to West Core Drilling with mobilisation to site anticipated in the next few weeks.

This drilling will test both extensional and down plunge targets.

The company has also completed regional soil sampling works with samples currently in the lab for assaying.

This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.