# WCE: WCE-Falcon JV Reports 12m @ 2.8g/t Gold at Errabiddy Canonical Atlas analysis: https://atlas-staging.minestarters.com/news/wce-wce-falcon-jv-reports-12m-2-8g-t-gold-at-errabiddy--75848171-1c2b-44d3-aa8d-de80ff588249 Original source: https://www.asx.com.au/asx/v2/statistics/displayAnnouncement.do?display=pdf&idsId=03154853 Publisher: asx Original announcement: 2026-10-20T21:17:00.000Z Analysis by Minestarters Atlas Atlas analysis published: 2026-10-20T22:48:50.147Z Atlas analysis updated: 2026-10-20T22:48:50.147Z - Company: West Coast Silver Limited - Ticker: WCE - Exchange: ASX - Region: Western Australia - Primary commodity: Gold - Secondary commodities: None reported - Document categories: Drill results - Extracted: 2026-10-20 22:48:50 UTC Narrative sentiment: 0.70 · Bullish ## Minestarters Atlas summary West Coast Silver Limited announced encouraging initial gold drilling results from its JV partner Falcon Metals at the Olsen Well prospect in Western Australia. The first reverse circulation drill hole, OWRC0001, intersected 12 metres at 2.8 g/t gold from surface, including a higher-grade zone of 4 metres at 4.7 g/t gold. This maiden drilling program confirms bedrock gold mineralization beneath a large soil anomaly, with further drilling underway to determine the orientation and continuity of the discovery. Reasoning: The initial drill hole at Olsen Well returned a strong gold intercept from surface, validating a significant soil anomaly and indicating potential for a new discovery, although further drilling is needed to define continuity and true width. - Positive factor: Significant gold intercept from surface - Positive factor: Confirms bedrock mineralization beneath a large soil anomaly - Positive factor: High-grade sub-interval - Positive factor: First drill hole, indicating potential for further discovery - Positive factor: JV partner funding exploration - Positive factor: QA/QC disclosed - Negative factor: True width not known - Negative factor: Continuity and orientation of mineralization not yet established - Negative factor: Other holes returned no significant intercepts - Negative factor: Results from a single hole Facts used in scoring: 2 ## Classification and evidence **Bonanza Intercept** Polarity: positive Definition: Exceptionally high-grade zone, well above the deposit-type norm. Why it applies: The intercept of 4m @ 4.7g/t gold from surface is considered exceptional for an open-pittable orogenic gold deposit, exceeding the 3 g/t Au threshold for open pit exceptional grade. Evidence · text > including 4m @ 4.7g/t gold **Step-Out Extension** Polarity: positive Definition: Mineralization extended beyond the previously known limit. Why it applies: The drilling is the first-ever at Olsen Well, extending known mineralization from a surface anomaly to bedrock, which is a form of extending beyond a previously known limit. Evidence · text > This program is the first-ever drill testing of Olsen Well which is a 5.8km long gold-in-soil anomaly. **QA/QC Disclosed** Polarity: positive Definition: Release includes QA/QC disclosure — certified lab, QP sign-off, or stated methods \(blanks, standards, duplicates\). Why it applies: The release includes a JORC Table 1 with detailed QA/QC procedures, including the use of standards, blanks, and duplicates, and a Competent Person sign-off. Evidence · text > APPENDIX 4: JORC Table 1 – Olsen Well Gold Target **Compositing Transparent** Polarity: positive Definition: Cut-off grade and internal dilution rules are clearly stated for reported intervals. Why it applies: The document states the cut-off grade and maximum internal dilution used for aggregating intercepts. Evidence · text > results are calculated using a minimum 1.0g/t lower cut-off grade and max 4m internal dilution. **Apparent Width Only** Polarity: negative Definition: Interval given as downhole width with no true width or drill orientation — apparent width may overstate true thickness. Why it applies: The document explicitly states that only downhole lengths are reported and true widths are not known at this stage. Evidence · text > Down hole lengths are reported, true widths are not known at this stage. ## Extracted facts Stored fact records: 2. Some facts used in scoring do not have a stored record. ## Drill Results (2) ### OWRC0001 [Link to this fact](https://atlas-staging.minestarters.com/news/wce-wce-falcon-jv-reports-12m-2-8g-t-gold-at-errabiddy--75848171-1c2b-44d3-aa8d-de80ff588249#fact-drill-facts-0) Errabiddy · gold #### Identity - Hole ID: OWRC0001 - Project: Errabiddy - Commodity: gold - Region: australia\_wa - Reported Region: australia\_wa - Ticker: WCE #### Geometry - Grade: 2.8 - Grade Unit: g/t - Intercept: 12 m - From: 0 m - To: 12 m - Hole Depth: 130 m - Intercept Depth: 0 m #### Classification - Deposit Type: orogenic - Program: exploration - Sample Type: drill - Group ID: OWRC0001:0-12 - Mining Method: open\_pit #### Location - Location: Olsen Well - Easting: 442379 - Northing: 7168036 - Elevation: 390 m - Azimuth: 183 ° - Dip: -59 ° - Loc. Confidence: high - Loc. Source: document #### QA/QC - Laboratory: Intertek - QA/QC Disclosed: Yes - QP Signed: Yes - QA/QC Methods: standards, blanks, duplicates #### Compositing - Cutoff Grade: 1 - Cutoff Unit: g/t - Dilution Disclosed: Yes - Max Dilution: 4 m #### Review - Needs Review: No - Interp. Status: scored - Historical: No #### Dates - Event date: 2026-10-20T00:00:00.000Z Reasoning: The intercept of 12m at 2.8g/t gold from surface is a strong result for an open-pittable orogenic gold deposit, especially as it's the first hole in the prospect, confirming bedrock mineralization. However, true width and continuity are yet to be determined. - Positive factor: Strong grade for inferred mining method - Positive factor: Significant intercept length - Positive factor: Intercept from surface - Positive factor: First drill hole in prospect - Positive factor: QA/QC disclosed - Positive factor: Compositing parameters disclosed - Negative factor: True width not known - Negative factor: Continuity not established Evidence · text > OWRC0001 12 metres @ 2.8g/t gold from surface #### Tags used in scoring **QA/QC Disclosed** Polarity: positive Definition: Release includes QA/QC disclosure — certified lab, QP sign-off, or stated methods \(blanks, standards, duplicates\). Why it applies: qaqc\_disclosed is true **Compositing Transparent** Polarity: positive Definition: Cut-off grade and internal dilution rules are clearly stated for reported intervals. Why it applies: cutoff\_grade and internal dilution are both stated **Nearology Play** Polarity: neutral Definition: Value premise rests on proximity to a known deposit rather than own results. Why it applies: proximity is offered as the value premise: "For personal use only Falcon Metals Limited T: +61 3 8648 6684 ASX: FAL E: info@falconmetals.com.au Level 6, 350 Collins" ### OWRC0001 [Link to this fact](https://atlas-staging.minestarters.com/news/wce-wce-falcon-jv-reports-12m-2-8g-t-gold-at-errabiddy--75848171-1c2b-44d3-aa8d-de80ff588249#fact-drill-facts-1) Errabiddy · gold #### Identity - Hole ID: OWRC0001 - Project: Errabiddy - Commodity: gold - Region: australia\_wa - Reported Region: australia\_wa - Ticker: WCE #### Geometry - Grade: 4.7 - Grade Unit: g/t - Intercept: 4 m - From: 0 m - To: 4 m - Hole Depth: 130 m - Intercept Depth: 0 m #### Classification - Deposit Type: orogenic - Program: exploration - Sample Type: drill - Group ID: OWRC0001:0-4 - Mining Method: open\_pit #### Location - Location: Olsen Well - Easting: 442379 - Northing: 7168036 - Elevation: 390 m - Azimuth: 183 ° - Dip: -59 ° - Loc. Confidence: high - Loc. Source: document #### QA/QC - Laboratory: Intertek - QA/QC Disclosed: Yes - QP Signed: Yes - QA/QC Methods: standards, blanks, duplicates #### Compositing - Cutoff Grade: 1 - Cutoff Unit: g/t - Dilution Disclosed: Yes - Max Dilution: 4 m #### Review - Needs Review: No - Interp. Status: scored - Historical: No #### Dates - Event date: 2026-10-20T00:00:00.000Z Reasoning: The sub-interval of 4m at 4.7g/t gold from surface is an exceptional result for an open-pittable orogenic gold deposit, significantly enhancing the overall intercept and indicating high-grade potential within the new discovery. - Positive factor: Exceptional grade for inferred mining method - Positive factor: High-grade sub-interval - Positive factor: Intercept from surface - Positive factor: First drill hole in prospect - Positive factor: QA/QC disclosed - Positive factor: Compositing parameters disclosed - Negative factor: True width not known - Negative factor: Continuity not established Evidence · text > including 4m @ 4.7g/t gold, in its first reverse circulation drill hole \(OWRC0001\) at Olsen Well #### Tags used in scoring **QA/QC Disclosed** Polarity: positive Definition: Release includes QA/QC disclosure — certified lab, QP sign-off, or stated methods \(blanks, standards, duplicates\). Why it applies: qaqc\_disclosed is true **Compositing Transparent** Polarity: positive Definition: Cut-off grade and internal dilution rules are clearly stated for reported intervals. Why it applies: cutoff\_grade and internal dilution are both stated **Nearology Play** Polarity: neutral Definition: Value premise rests on proximity to a known deposit rather than own results. Why it applies: proximity is offered as the value premise: "For personal use only Falcon Metals Limited T: +61 3 8648 6684 ASX: FAL E: info@falconmetals.com.au Level 6, 350 Collins" ## How Atlas produces this analysis Minestarters Atlas uses automated extraction to summarize mining announcements, identify reported measurements, and classify supporting evidence. Sentiment reflects the extracted narrative and classification rules; it is an interpretation, not a reported measurement. Evidence quotes and context are provided where available. Missing data, low-confidence results, and review flags indicate limitations. Check the original publisher announcement before relying on an interpretation.