West Coast Silver (ASX:WCE), formerly Errawarra Resources, has done what its geotechs thought it would: Hit shallow silver mineralisation in the Pilbara region.
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West Coast headlined its most tantalising result on Wednesday, coming in at 313 grams per tonne (g/t) of silver from only 20m depth in areas near an existing historical mine on-site, Elizabeth Hill (the same name at the project today).
A second intersection equalling the same width at five metres came in at 2,822g/t from 26 metres, while a lower grade pocket reflected 153g/t – but, perhaps most promising, that came directly from surface.
Complying with overhead ASX rules, the company noted drill results published on Wednesday relied on handheld scan reads. Full assays are due back in six to eight weeks.
The good news is that the delay comes on the back of astonishingly early-stage silver grades returned in diamond-tipped drill core. In short, the company is making sure it’s really got what the X-rays are saying.
But from the outset, it’s clear the company is sitting on paydirt of some quality. The company is now in the process of logging what coreholes it’s got in the early stages of building out a resource to move ahead with on-site Elizabeth Hill.
The thing about the historical mine, perhaps most tantalising to WCE’s drilling team, is that historical works never went too deep. With modern rigs, the underexplored nature of the project could very well be more than just a buzzword.
“We are extremely pleased with this exceptional start to our maiden drill program,” company chief Bruce Garlick said.
“To intersect high-grade silver from surface in our first two holes is a tremendous result and validates our belief in the near-surface potential at Elizabeth Hill.”
One last note from this HotCopper writer: While it’s still early days, the company detected some copper in its cores, too. It’s far, far too early to suggest there could be a polymetal aspect to the play, but perhaps all one needs to note is the company has definitely hit a geological area of obvious interest.
WCE last traded at around 10cps at close on Tuesday.
Disclaimer: The Market Online had a commercial relationship with West Coast Silver at the time this article was crafted and published.
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