Spectacular Silver Strikes: West Coast Silver Uncovers High-Grade Near-Surface Deposits at Elizabeth Hill
West Coast Silver Limited (ASX: WCE) has announced exceptional high-grade silver intercepts from its inaugural diamond drill program at the Elizabeth Hill Silver Project in Western Australia's Pilbara region, with results that validate the company's belief in the significant near-surface potential of this historic silver deposit.
Maiden Drilling Delivers Spectacular Silver Results
The first two diamond drill holes from the company's 12-hole (1,183m) program have returned outstanding silver grades from near-surface, including:
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21 metres at 1,047g/t Ag from just 10 metres including:
- 8 metres at 2,632 g/t Ag from 22 metres, featuring
- A spectacular interval of 1 metre at 15,071 g/t Ag (485 troy ounces per ton) from 27 metres
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15 metres at 723g/t Ag from 1 metre including:
- 3 metres at 2,639g/t Ag from 1 metre
Gold values were also reported in the laboratory assays, with a peak assay from drill hole 25WCDD002 returning 1 metre at 2.03g/t Au from 4 metres. These results are reminiscent of other high-grade gold intercepts seen in similar exploration projects across Australia.
"We are extremely pleased with this exceptional start to our maiden drill program," said Executive Chairman Bruce Garlick. "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."
Confirmation of Historical Results
Drill hole 25WCDD001 was designed to twin Alien Metals' historical RC drill hole 22AMC001, which previously intersected 21 metres at 730g/t Ag from 12 metres. West Coast Silver's twin hole not only confirmed the previous intercept but returned even higher grades, with 21 metres at 1,047g/t Ag from 10 metres.
The company noted that slight variations in grade between the two drill holes may reflect the variable distribution of silver mineralisation throughout the deposit.
Shallow Oxide Potential
The shallow, high-grade nature of these silver results has given the company confidence in the near-surface potential of Elizabeth Hill. This West Coast Silver high-grade silver discovery at Elizabeth Hill builds upon historical drilling in the area which has also returned significant near-surface silver intercepts, including:
- 3.7 metres at 6,953g/t Ag from 13 metres (21EHDD003)
- 5.7 metres at 6,503g/t Ag from 19 metres (21EHDD003)
- 15 metres at 1,487g/t Ag from 2 metres (21EHDD001)
- 4 metres at 3,788g/t Ag from 27 metres (AMEHRC009)
The company has engaged ERM Consultants to carry out a comprehensive analysis of all historical drilling at Elizabeth Hill with a view to developing workflows that may result in quantifying the near-surface silver mineralisation in line with JORC 2012 standards. This analysis will complement the recent high-grade silver resource developments seen at other projects in the region.
Understanding Silver Mineralisation
Silver mineralisation at Elizabeth Hill is structurally controlled and located on the eastern boundary of the north-south trending Munni Munni Fault. The mineralised zone has been intersected over a 100m north-south zone along the boundary of the fault, plunging south along the granite contact.
The high-grade silver occurs in fine disseminations, needles, veins, nuggets, and platelets up to several centimetres in diameter within a quartz carbonate chalcedonic silica breccia that shows veining. These findings align with previous Elizabeth Hill discoveries that highlighted the area's potential.
What Makes Silver Valuable as a Mineral Resource?
Silver has been a valued precious metal throughout human history due to its unique properties and various applications. As an element, silver possesses the highest electrical conductivity, thermal conductivity, and reflectivity of any metal, making it essential for numerous industrial applications.
In modern times, silver serves multiple purposes:
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Industrial Applications: Approximately 50% of silver demand comes from industrial uses, including electronics, photovoltaic cells for solar panels, and medical applications due to its antimicrobial properties.
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Investment Asset: Silver, like gold, functions as a store of value and hedge against inflation, with investors holding it in physical form or through exchange-traded funds.
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Jewellery and Silverware: Traditionally valued for its lustrous appearance and malleability, silver remains popular for decorative and personal adornment items.
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Photography: Though diminished with digital technology, silver halide compounds are still used in some photographic processes.
The West Coast Silver high-grade silver discovery at Elizabeth Hill is particularly significant due to the extremely high grades encountered, which are exceptional by global standards. Silver deposits of this grade are increasingly rare worldwide, making the Elizabeth Hill project potentially quite valuable in the current market environment.
Next Steps
Core from the remaining eight holes has been cut and sent for assay, with results expected within 6-8 weeks. The completion of this diamond drilling program marks an important milestone for West Coast Silver as it seeks to advance the Elizabeth Hill project.
With the consolidation of surrounding land packages into a single contiguous 180km² package, the company has significant exploration and growth potential both near-mine and regionally. The land package holds a significant portion of the Munni Munni fault system, which is considered prospective for additional Elizabeth Hill-style silver deposits.
Why Investors Should Take Notice
Elizabeth Hill is one of Australia's highest-grade silver projects with a proven production history:
- Previous mining produced 1.2 million ounces of silver from just 16,830 tonnes of ore at an impressive head grade of 2,194g/t Ag (70.5 oz/t)
- Mining ceased in 2000 due to low silver prices (US$5/oz) – significantly below current levels
- The deposit was processed using low-cost gravity separation techniques to recover native silver
- Untapped potential remains with the deposit open at depth
- Located in the tier-1 mining jurisdiction of Western Australia on a mining lease with potential processing options nearby
This West Coast Silver high-grade silver discovery at Elizabeth Hill demonstrates that the company is on track to potentially define a significant near-surface silver resource, with grades that are exceptional by global standards. The near-surface nature of the mineralisation could translate to favourable economics in any future development scenario.
As results from the remaining drill holes arrive in the coming weeks, investors will be watching closely to see if the high-grade trend continues across the broader drill program. The potential similarities to recent gold drilling results at other sites suggest promising developments for the company's overall exploration strategy.
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