West Coast Silver lifts silver resource by 20%
Key points
- West Coast Silver expanded the mineral resource estimate at its Elizabeth Hill Project by 20.3% to 3.36 million ounces of contained silver.
- Shares in the company rose 7.84% following the release of the updated resource figures.
- The company plans to use the higher-confidence resource base to complete a project scoping study and evaluate potential development options.
West Coast Silver (ASX:WCE) increased the contained silver resource estimate at its Elizabeth Hill Project by 20.3% to 3.36 million ounces.
The updated total of 234,700 tonnes grading 446 grammes per tonne of silver compares with the previous estimate of 141,000 tonnes at 617 grammes per tonne reported in April.
"The increased level of confidence supports West Coast Silver advancing to a scoping study that will provide shareholders and the market the first snapshot of potential project economics and development options," said West Coast Silver CEO Sergei Smolonogov.
The new estimate lifts higher-confidence indicated resources to 77% of the total deposit, which is held under a joint venture where the company owns 70% and Alien Metals retains 30%.
Following the announcement, the West Coast Silver share price was up at $0.55.
Work is currently underway on follow-up drilling at the north-west extension and the Elizabeth Hill Deeps zone beneath the main deposit to test for potential resource additions.
The company stated that it is targeting another resource update in March 2027 alongside baseline engineering and metallurgical studies before completing the project scoping study.
Frequently asked questions
More from Australia
GCM signs 24-month thermal agreement with Jinshiyu
Austal starts production on $5B defence contracts
Dundas Minerals starts drilling programme at Rockland Project
Camplify returns to profit with $0.3M EBITDA
Adavale Resources starts drilling at 10.65g/t gold target
High-Tech Metals begins 3,000-metre gold drilling program
