Now that's interesting.....and beautiful!
I wonder if it could also be nickel. I know it isn't affected by arsenic and lime on Indo keris. Perhaps it would resist PCB etchant as well. But Andrew has a point and it does look a bit like silver. Was the gangya tarnished before you etched?
The blade certainly looks Moro, but i have never seen this type of hilt before. At first look it (the hilt) appears distictly un-Moro. Do you think this is a re-hilted blade?