Resources Top 5: West Coast Silver aglow with high-grade results and strong silver price

News.com.au

16-07-2025

West Coast Silver clocks 1m at 15,071g/t silver among results from first two diamond holes at Elizabeth Hill
A 2000m diamond drilling program underway at EUR's Tanbreez REE project in Greenland
LKY poised to take advantage of the US critical minerals boom from Mojave project
Your standout small cap resources stocks for Wednesday, July 15, 2025
West Coast Silver (ASX:WCE)
Glowing in the light of high-grade results from its initial drilling at the Elizabeth Hill project in WA's Pilbara along with strong silver prices is West Coast Silver (ASX:WCE), which hit a 12-month high of 12.5c, a lift of 30.21% on its previous close, before closing at 11.5c.
The results of up to 1m at 15,071g/t silver from the first two diamond holes have been described by WCE's executive chairman Bruce Garlick as an 'exceptional start to the program'.
That bonanza result from 27m in hole 25WCDD001 is among a number of shallow intersections returned, including 21m at 1047g/t Ag from 10m, including 8m at 2632g/t from 22m, while 25WWCDD002 delivered 15m at 723g/t Ag from 1m, including 3m at 2639g/t from 1m.
Only assay results for these two holes have been received from the laboratory to date but the shallow nature of the results provides West Coast Silver (ASX:WCE) with confidence in the near-surface potential at Elizabeth Hill.
This has prompted the company to begin reassessing all known data with a view to quantifying the near-surface mineralisation.
Twelve diamond drill holes have been completed at Elizabeth Hill for 1183m.
Core from the next eight holes has been cut and half core samples sent for laboratory assays with results expected within six to eight weeks. Logging of holes 11 and 12 continues.
'To intersect high-grade silver from close to surface in our first two holes is a tremendous result and validates our belief in the near-surface potential at Elizabeth Hill,' Garlick said.
'The grades seen in 25WCDD001 are particularly encouraging and includes a 1 metre intercept of nearly 485 ounces per tonne which is a further confirmation of the historical grades reported from the deposit.'
Earlier this week, silver surged above US $38.86 an ounce, a 14-year high, as markets anticipated critical US inflation figures that could steer Fed policy.
WCE is well placed to capitalise on the rising price environment given Elizebeth Hill is on a granted mining lease, allowing the company to get into production faster.
European Lithium (ASX:EUR)
The start of a 2000m diamond drilling program at the Tanbreez rare earth project in Greenland has been welcomed by European Lithium, which will benefit from any expansion of the Fjord deposit eudialyte resource.
The drilling program will test for extensions to the east of the deposit and will support a bankable feasibility study.
EUR is leveraged to success at Tanbreez through its 7.5% direct interest in the project. It holds around 63m shares in project owner Critical Metals Corp, a stake valued at more than $305m and well above EUR's market cap of around $100m. Shares climbed 11.12% to a daily high of 8c.
Fjord eudialyte deposit hosts an indicated resource of 8.7Mt and an inferred resource of 13.8Mt. It contains a significant amount of magnet rare earth oxides which make up 75% of the eudialyte concentrate.
An April study flagged the project's potential to become a magnet rare earths heavyweight with economic upside for Greenland.
'We are pleased to announce the commencement of our 2000m resource drilling program – an important milestone in advancing our project,' European Lithium (ASX:EUR) executive chairman Tony Sage said.
'This program is designed to significantly enhance the current mineral resource estimate and support the development of the bankable feasibility study, paving the way for a final decision to mine.
'Our full exploration and DFS study teams are on site, conducting detailed fieldwork. Data collected will play a critical role in finalising the BFS and preparing the comprehensive reports required by the Greenland regulators, as well as our financial partners, including EXIM.
'We remain on track to deliver these final reports by Q4 2025.'
In a further boost, Critical Metals has received a non-binding and conditional letter of interest from the Export Import Bank of the United States, indicating support for a non-dilutive funding package of US$120m for the development of Tanbreez.
'The proposed funding package has a 15-year term and is subject to key development milestones such as permitting, feasibility studies and environmental assessments and EXIM conducting its standard due diligence investigations,' Sage said.
'The non-dilutive funding package is expected to be sufficient to enable the Tanbreez project to complete final resource drilling pre-production activities and commence mining.'
Locksley Resources (ASX:LKY)
Poised to take advantage of the US critical minerals boom from its Mojave project in California is Locksley Resources, which is having a strong week, increasing 46.75% from 9.2c on July 14 to 13.5c before reversing to close unchanged.
The project is in the Mojave Desert, which is attracting attention for its critical minerals prospectivity, and drilling approval has been received from the Bureau of Land Management.
As well as its rare earth prospectivity, the project hosts the Desert Antimony Mine, which last operated in 1937.
On July 14 LKY announced the appointment of a US advisor in Viriathus Capital LLC to support its expansion into North American markets, deepen engagement with government stakeholders and help shape its downstream strategy.
Viriathus Capital brings extensive experience working with ASX listed and US-based critical minerals companies.
The global boutique financial services group will provide strategic guidance to LKY as it refines its US-facing downstream roadmap, focusing on lab-to-market development with US national labs, e-waste technology integration and positioning key critical minerals (antimony and rare earths) for the electrification transition.
But its recent movements have been all down to the project's proximity to MP Materials, which operates America's only rare earths mine just 1.4km from Mojave at Mountain Pass. MP last week sent rare earth markets haywire with a multi-billion dollar public-private partnership with the US Department of Defense, before locking in a US$500m investment package with tech giant Apple on Wednesday.
MC Mining (ASX:MCM)
MC Mining increased 37% to a daily high of 13c on implementing a revised business plan for Uitkomst Colliery in South Africa, which is expected to position the operation for future growth.
Following extensive due diligence, consultations with organised labour, service providers and regulators, a Turnaround Plan is being implemented with the assistance of Metalla Tutum Engineering.
Key focus areas are to:
reconfigure underground mining layouts to streamline operational efficiencies and resource deployment
implement coal handling and processing plant modifications to improve coal product yields
reduce workforce numbers from 430 to 366, with minimal forced retrenchments; and
enter into longer-term coal offtake agreements to stabilize price certainty.
Uitkomst, a metallurgical and thermal coal producer, is an integral part of MCM's strategy of supporting South Africa's Steel Master Plan whilst becoming a significant regional supplier of steelmaking coal products.
MC Mining's flagship, the Makhado steelmaking hard coking coal project which is due for commissioning in December 2025, stands to be the largest, hard coking coal producer in the country, where the steel industry imports its HCC needs.
Pioneer Lithium (ASX:PLN)
Uranium focused explorer Pioneer Lithium has maintained momentum after growing its footprint with the Botsalano project in Botswana, lifting another 12% to 14c after moving up 19.05% on July 15.
The Prospecting Licence covers 815km2 and the acquisition adds a third uranium jurisdiction to PNL's growing pipeline alongside Namibia and the US.
Botsalano has access to established infrastructure including rail, roads, power and water supply, and a proven pedigree as it was previously held by UraMin Inc.
PNL said the project's uranium potential was underscored by its geological similarities to world-class assets.
Pioneer's initial focus is to compile all available historical exploration and geophysical data relevant to the project area and then move to fieldwork.
This article does not constitute financial product advice. You should consider obtaining independent financial advice before making any financial decisions. While European Lithium, Locksley Resources and Pioneer Lithium are Stockhead advertisers, they did not sponsor this article.