RCM now commands Australia’s highest-grade undeveloped silver project

• RCM to acquire Webbs Consol silver project in NSW
• Silver prices rising as clean energy demand for critical metal increases
• Company confident of district scale silver potential

Special Report: Rapid Critical Metals is picking up the Webbs Consol silver project in a move that will make it Australia’s highest grade silver proponent.

The project hosts 1.6Mt at 636g/t silver equivalent (AgEq) for ~32Moz AgEq – which combined with the company’s Webbs and Conrad deposits – creates a regional silver platform with a combined mineral resource of ~67Moz AgEq at a combined grade of ~400 g/t AgEq.

The deal with Lode Resources will add instant potential to unify mine planning and create central processing options down the track, with Rapid Critical Metals (ASX:RCM) poised to unlock a contiguous high-grade silver belt with district-scale exploration potential.

Securing the adjoining tenure will also increase the likelihood of new discoveries between the two high grade silver deposits.

It maximises the potential for the discovery of blind parallel lodes, with only a fraction of the total strike length systematically drilled to date. Very high-grade results from Lode drilling include:

• 8.6m at 1436g/t AgEq from 142m
• 149.2m at 455g/t AgEq from 98.0m
• 24.5m at 971g/t AgEq from 144m

RCM currently has two drill rigs on site at Webbs to drill the resource towards 2025 JORC compliance. The 2025 JORC code is an upcoming update to the existing JORC 2023 mineral code. The drilling is also testing mineral extensions to the south and parallel lodes to the west.

Strong silver market fundamentals a bonus

The acquisition also comes amid historically strong silver prices – sitting at around $59.54/oz at the time of writing – which enhances project economics and the growth potential.

The demand for silver is also soaring, with the metal recently added to the US list of critical minerals thanks to its role in the production of solar panels, batteries and the electronics from smartphones to EVs and hybrid cars.

Silver today on the spot market also broke above US$40/oz for the first time since 2011. The gold-silver price ratio remains roughly at 90:1 compared to historical averages of 60:1, leaving opportunity for the silver price to surge further if the ratio returns to those historical levels.

“This acquisition represents a pivotal step in our strategy to build a leading silver-focused growth platform in New South Wales,” RCM managing director Byron Miles said.

“By combining Webbs Consol with our 100%-owned Webbs and Conrad deposits, upon completion, Rapid is expected to become the highest-grade Ag Eq ASX listed silver company with approximately 67Moz AgEq at ~400 g/t Ag Eq, with significant potential for further growth.

“The transaction not only secures a contiguous silver corridor with outstanding geological prospectivity, but also opens up exciting potential for new discoveries in an area that has seen limited systematic drilling.

“The exceptional high-grade hits already achieved at Webbs Consol underscore the quality of the mineralisation and the upside ahead.

“With a strengthened portfolio and a team focused on delivery, we are well placed to accelerate exploration and development activities to create long-term value for our shareholders.”

This article was developed in collaboration with Rapid Critical Metals, a Stockhead advertiser at the time of publishing.

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