West Coast Silver (ASX: WCE) is about to put drill rigs back on the ground at its Elizabeth Hill Silver Project in the Pilbara, with contractors due to mobilise this week for an 1,800 metre diamond program. The campaign is designed to grow a 2.8 million ounce resource and feed a scoping study due in the first quarter of 2027, a timeline that matters for investors tracking ASX silver developers with real projects behind them.
What the drilling will target
The program covers 18 holes across four workstreams. Six holes, about 510 metres, aim to convert inferred resource to the more reliable indicated category and supply core for metallurgical and geotechnical work. Eight holes, roughly 640 metres, will test mineralisation west of the current resource boundary. Two holes will probe the Elizabeth Hill Deeps zone, and two more will test the underground plunge below the 102 Level. Drilling is expected to run through to December, with a resource update planned for November and a second update in March 2027.
Elizabeth Hill has a track record of exceptional grade. Historical production reached 1.2 million ounces from just 16,830 tonnes of ore, a head grade of 2,194 grams per tonne silver. Recent intercepts near the Deeps zone include 7 metres at 607 g/t silver, with a 1 metre section at 3,340 g/t. Company announcements are lodged on the ASX platform.
Why it matters for the silver market
The Silver Institute reports the global market is heading for a sixth straight annual deficit, forecast at 46.3 million ounces in its World Silver Survey 2026. With roughly 70 per cent of silver mined as a byproduct of other metals, supply struggles to respond to price, which puts a premium on primary silver projects in stable jurisdictions like Western Australia. Spot silver has pulled back sharply from its January record, a theme we covered when silver corrected to $64 an ounce, but project economics at current levels remain far stronger than most older studies assumed.
What investors should watch
The key markers are the November resource update, early assay results from the western extension holes, and how much inferred ounces convert to indicated. The company completed a $6 million raise in September, which should fund the program, though junior explorers can still face dilution risk if results disappoint or costs rise. A strong scoping study would put Elizabeth Hill alongside other developers such as Investigator Silver at Paris in the race to prove up scale.
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