West Coast Silver Limited (ASX:WCE) has released an updated JORC 2012 Mineral Resource Estimate for its Elizabeth Hill Silver Project, located south of Karratha in Western Australia, reporting a total resource of 3.36 million ounces of silver at 446 g/t Ag in 234.7 thousand tonnes, representing a 20.3% increase in contained silver from the April 2026 estimate.

Key Points

  • Updated MRE totals 3,363 koz Ag at 446 g/t Ag in 234.7 kt at a 20 g/t Ag cut-off (100% basis), up 20.3% (+568 koz) from the April 2026 estimate of 2.795 Moz.
  • Resource tonnage increased 66.5% (+93.7 kt) to 234.7 kt, while average silver grade declined from 617 g/t Ag to 446 g/t Ag due to inclusion of lower-grade material.
  • Indicated resources rose from 369 koz (13%) in April 2026 to 2.587 Moz (77%) of contained silver in the updated estimate.
  • The high-grade core contains approximately 95% of reported silver, with 74.7 kt at 1,333 g/t Ag at a 60 g/t Ag sensitivity cut-off.
  • Follow-up drilling has commenced at the north-west extension and Elizabeth Hill Deeps, with a further MRE update targeted for March 2027.

Updated Elizabeth Hill Mineral Resource Estimate Details

The updated Mineral Resource Estimate, prepared by Competent Person Dmitry Pertel, MAIG, comprises an Indicated resource of 195.9 kt at 411 g/t Ag for 2,587 koz and an Inferred resource of 38.8 kt at 622 g/t Ag for 776 koz, totalling 234.7 kt at 446 g/t Ag for 3,363 koz at a 20 g/t Ag reporting cut-off. The estimate is constrained by a conceptual open-pit shell and depleted for historically mined underground workings and stopes, and is reported on a dry-tonnage basis. No Measured Mineral Resource or Ore Reserve is reported. West Coast Silver holds a 70% interest in tenement M47/342.

Resource Growth and Increased Geological Confidence

The growth in contained silver reflects a revised geological interpretation and updated estimation incorporating 2026 drilling results. Material grading 20 to 30 g/t Ag accounts for most of the additional tonnage but only approximately 76 koz of contained silver. At a 30 g/t Ag cut-off, the model reports 140.9 kt at 726 g/t Ag for 3.29 Moz. The Indicated resource reflects mineralisation and geology drilled on a tight spacing of approximately 5 metres by 5 metres. The silver nugget effect is close to 50% of the total sill in semi-variograms. The Indicated category increase is predominantly a resource-classification change and is not in itself an increase in total contained metal.

Next Technical Steps and Drilling Programme

Follow-up drilling has commenced to test extensions on the north-west of the mineralised system and at Elizabeth Hill Deeps, which remains unclassified and is excluded from the current estimate. Targeted infill drilling, geotechnical, engineering, metallurgy and scoping-level studies have also commenced as the next technical priorities. The company stated a further MRE update is targeted for March 2027 ahead of a maiden Elizabeth Hill Scoping Study. Chief Executive Officer Sergei Smolonogov is noted as having commented on the results in the filing.