WCE exploration update as silver breaks through US$40 per ounce

Silver breaking out and just hit new 14 year highs at ~US$40.70/oz

And our silver Investment West Coast Silver (ASX: WCE) just put out an exploration update at its project in WA.

WCE owns 70% of the Elizabeth Hill mine, which produced ~1.2M ounces of silver at average grades of ~2,194g/t (over a 12 month period 25 years ago).

WCE picked up the project in March this year in a deal that also involved all of the surrounding land.

Since then WCE has drilled 12 holes with assays still pending on 6 holes that are due in around 2-4 weeks time, the standout result from the first batch included 1,615 g/t silver hit over 13m,

This result was near surface right next to the the old non-JORC 4.05Moz silver resource leftover at Elizabeth Hill:

Here is how that last drill hit looked relative to that old resource (we’ve flipped the orientation to better match the perspective of the mine as shown in the above diagram):

Today WCE took another step toward an early production scenario on its project.

WCE said discussions had commenced about doing a deal with Artemis Resources to utilise their nearby processing plant.

Artemis owns the Radio Hill plant which is ~20km away from WCE’s ground and could be a way for WCE to process its ore (if a deal is ever agreed between the two companies.

WCE also said that it had started phase 2 of its exploration program which involves:

1. Field mapping of 12 high priority, near mine targets, with these target locations being announced a few weeks ago here
2. Drone Magnetics survey along the Munni Munni fault aiming to identify signatures that appear similar to those immediately surrounding the Elizabeth Hill mine
3. Phase 2 drilling prep which is expected to begin in around 6 weeks time targeting near surface mineralisation plus deeper down dip potential

What’s next for WCE?

Final batch of assays 🔄

As mentioned earlier, six assays are pending from the first 12 holes drilled near the old Elizabeth Hill mine.

WCE said in last fortnight's announcement that those results would come in the next 4-6 weeks.

(Source - WCE announcement 22 August 2025)

Near-mine and regional exploration 🔄

With some assays still pending, we want to see the results of its near-mine and regional targets exploration underway in this announcement.

We think the big re-rate for WCE could come from a repeat Elizabeth Hill being discovered.

(Source - WCE announcement 22 August 2025)