West Coast Silver uncovers bonanza grades in first Elizabeth Hill drilling

• Assays from the first two drill holes at Elizabeth Hill return up to 15,071g/t silver
• A review of all known historical drilling data is underway
• Half core drill samples for an additional eight holes have been dispatched

Special report: West Coast Silver has had an “exceptional start” to its maiden drilling at the Elizabeth Hill project in WA’s Pilbara with shallow, high-grade silver returned in the first two diamond drill holes.

Both holes intersected mineralisation, with impressive results from hole 25WCDD001 of 21m at 1047g/t Ag from 10m, including 8m at 2632g/t from 22m and a bonanza grade of 1m at 15,071g/t from 27m.

Hole 25WWCDD002 delivered a 15m intersection at 723g/t Ag from 1m, including 3m at 2639g/t from 1m.

So far, only assay results for these two holes have been received from the laboratory but the shallow nature of the results provides West Coast Silver (ASX:WCE) with confidence in the near-surface potential at Elizabeth Hill.

This has prompted the company to begin reassessing all known data with a view to quantifying the near-surface mineralisation.

A full analysis of historical drill data is underway and ERM Consultants is tasked with carrying out all requisite QA/QC checks to ensure compliance with JORC 2012 reporting standards.

While the two holes intersected comparable mineralisation, WCE said slight variations in grade may reflect a nuggety nature of silver mineralisation.

“Tremendous result”

WCE executive chairman Bruce Garlick said the company was extremely pleased with the “exceptional start to the program”.

“To intersect high-grade silver from close to surface in our first two holes is a tremendous result and validates our belief in the near-surface potential at Elizabeth Hill,” he said.

“The grades seen in 25WCDD001 are particularly encouraging and includes a 1 metre intercept of nearly 485 ounces per tonne which is a further confirmation of the historical grades reported from the deposit.”

More from WCE: Striking silver at Elizabeth Hill

Set to benefit from bullish silver market

On Tuesday, silver surged above $38.30 an ounce, bouncing back from the previous session’s dip as markets anticipated critical US inflation figures that could steer Fed policy.

Over the past month, silver has gained 3.890% and is up 20.69% compared to the same time last year.

West Coast Silver is perfectly placed to capitalise on the rising price environment given Elizebeth Hill is on a granted mining lease, allowing the company to get into production faster.

The project had an historical resource but West Coast aims to quickly define a JORC-compliant inferred estimate.

Elizabeth Hill previously produced 1.2Moz of silver from just 16,000t of ore grading 2194g/t silver in 2000 before it closed due to a low silver price of US$5 an ounce.

What’s next?

A total of 12 diamond drill holes have been completed at Elizabeth Hill for 1183m.

Core from the next eight holes has been cut and half core samples sent for laboratory assays with results expected within six to eight weeks.

This article was developed in collaboration with West Coast Silver, 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.