WCE to start geophysics at the Elizabeth Hill Silver mine

Our Investment West Coast Silver (ASX: WCE) is about to kick off geophysics at its Elizabeth Hill project in WA.

WCE’s Elizabeth Hill was one of Australia's highest grade silver mines.

The project produced ~1.2M ounces of silver at an average grade of ~2,194g/t from just 16,830 tonnes of ore.

The mine shut in 2000 because silver was US$5/oz. Today silver trades at ~US$81/oz..

For anyone who has ever been to the Perth Mint - the glorious giant silver nugget in the museum section was also found at Elizabeth Hill:

(source - our photo)

We are Invested in WCE to see it:

1. Drill out and identify silver resources in and around the existing Eizabeth Hill workings.
2. Drill out regional targets (and hopefully discover an Elizabeth Hill repeat)

So far, most of WCE’s drilling has been focussed in and around Elizabeth Hill - where there is an ~46.8kt @ 2,700g/t silver for 4.05Moz remnant resource (non JORC compliant).

Here is what WCE’s managed to define:

(source)

Next, WCE plans to drill near mine targets along strike - drilling is expected to commence this month (source).

The geophysical surveys announced today are also planned to start by the end of March so we assume the results will be used to set the targets for the drilling in a followup drill program to focus on regional targets..

Here are the target areas we want to see WCE drill out from the geophysics received last week:

(source)

What’s next for WCE?

Near-mine and regional exploration 🔄

The recent AC drilling results from immediately to the north of the known mineralisation/mine are worthy of followup and WCE will be drilling with a deeper capable RC rig. WCE said the results are to be used in open pit resource planning and a scoping study. This drilling is expected to begin this month, so within the next few weeks. (source)

WCE is also looking to follow up on the magnetic drone survey results which identified 20 structural targets, with several of these showing along strike on the same fault running through the mine.

These results match prior soil sampling and AC drilling, so the magnetics program is being expanded across the broader project area set to get underway by the end of March (source) and an IP survey to be run on the current area to help rank the confirmed targets for future drilling. (source)

Update on processing negotiations 🔄

In a prior exploration update, WCE said it was in discussions with Artemis Resources who own the Radio Hill processing plant, ~20km away.

Late last year WCE confirmed that these negotiations have progressed to a MOU to look further into processing ore at this plant.

The plant has been idle for some years now and was previously being refurbished by Artemis but due primarily to a fall in nickel prices, has not been utilised for several years so there exists a conveniently located opportunity.