Alien Metals (AIM:UFO) told investors that its joint venture partner West Coast Silver has lifted the Mineral Resource Estimate at the Elizabeth Hill Silver Project to 3.36 million ounces of contained silver, a 20.3% increase on the inaugural April 2026 estimate.
The AIM-listed minerals explorer holds a 30% free-carried interest in Elizabeth Hill, in the West Pilbara of Western Australia, alongside roughly 7.0% of West Coast Silver's issued share capital.
The updated JORC estimate stands at 234,700 tonnes grading 446 grams per tonne silver, reported at a 20 gram per tonne cut-off, up from the April figure of 141,000 tonnes at 617 g/t Ag for approximately 2.8 million ounces.
The grade decline reflects the inclusion of additional lower-grade material: resource tonnage rose 66.5%, while average grade fell 27.7%. Confidence in the resource has improved sharply, with 77% of contained silver now classified as Indicated, up from roughly 13% in April.
West Coast Silver said the high-grade core still accounts for approximately 95% of reported silver, with a 60 g/t sensitivity cut-off showing 74.7 kt at 1,333 g/t Ag for 3.20 million ounces.
The updated estimate incorporated 46 additional drill holes totalling 4,728 metres and 3,952 additional silver assays since April, including the discovery of a new zone known as Elizabeth Hill Deeps, which remains unclassified and excluded from the current resource pending further drilling.
Results from the current diamond drilling programme, which began mobilising in early October, will feed into a further MRE update targeted for March 2027, ahead of a maiden Elizabeth Hill Scoping Study.
West Coast Silver's updated resource follows a 32-hole, 2,710 metre reverse circulation programme completed in May and progressive diamond drilling results reported through the second half of the year, including intersections such as 3 metres at 524 g/t Ag from 183 metres.
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"West Coast Silver's updated Mineral Resource is a significant step forward for Elizabeth Hill, lifting contained silver to approximately 3.36 million ounces at an exceptional grade and materially increasing the proportion in the higher-confidence Indicated category," said Vince Fayad, Executive Director of Alien Metals.
"It reinforces Elizabeth Hill's position as one of Australia's highest-grade silver projects, at a time of strong silver prices."
Alien retains its 30% project interest free-carried until a decision to mine, with West Coast Silver funding all joint venture expenditure in the meantime.
The next resource update is targeted for March 2027, ahead of the planned scoping study.