Alien Metals has reported a high-grade silver discovery at the Elizabeth Hill project in Western Australia, where joint venture partner West Coast Silver has intersected a new zone of mineralisation below and separate from the previously mined orebody.
Diamond drilling beneath and south of the historical workings returned 3m at 524g/t silver from 183m, including 1.5m at 1,039g/t from 184.5m.
These are solid grades and should encourage investors.
The intersection ties together historical drill results, including 7m at 607g/t silver from underground drilling and 4m at 223g/t silver from surface drilling, to define an approximately 50m-long mineralised trend beneath the old mine.
The same hole also hit massive sulphides while targeting an electromagnetic conductor, returning 2.73% nickel, 0.93% copper and 0.7g/t palladium over 0.45m from a depth of around 155m.
Meanwhile, final assays from 32 reverse circulation holes drilled in May continued to expand the scale of near-surface silver mineralisation beyond the maiden resource estimate published in April.
Best results included 44m at 26g/t silver from surface and 41m at 23g/t from 1m, ending in mineralisation.
Exploration drilling is progressing through the final planned holes, with further assays expected through July and August.
Shares barely moved on Thursday.