Unico Silver (ASX:USL) reports assay results from the La Negra Southeast discovery in Argentina, supporting its earlier assessment of the project’s potential scale ahead of a maiden mineral resource estimate (MRE).
The MRE has been deferred to November 2025, allowing for the inclusion of all results from an ongoing infill drilling program.
Unico Silver, which has a market capitalisation of $364.87 million, reports the first two holes were designed to extend mineralisation along strike and at depth from a discovery hole which returned 90m @ 164 grams per tonne silver-equivalent (AgEq) from 10m.
Some of the latest results returned 6.8m @ 718g/t AgEq from 68.2; and 44.9m @ 259g/t AgEq from 81.1m, including 7.3m @ 887g/t AgEq from 97.5m.
Mineralisation is now defined over 425m of strike and 125m of vertical extent and is open to the southeast and at depth.
Managing Director Todd Williams says the results confirm continuity of high-grade mineralisation down-dip and along strike, and also shows the potential scale of this new discovery.
“With over 10,000m completed in phase one, and 20,000m planned for phase two, drilling is tracking well and ahead of schedule,” Williams says.
“Given the success of the drill program, we’ve decided to delay the maiden Joaquin MRE to November so we can fully incorporate this new growth into the estimation. In parallel, drilling is soon to be underway at the exciting La Morocha Southeast, La Negra Feeder, and Brunilda prospects – all untested since the campaign resumed.”
Unico is focused on completing the current 20,000m drilling program which includes further follow-up work at La Negra, as well as other areas within the Joaquin Project in the Santa Cruz region of Argentina.
The Joaquin Project currently hosts an established resource estimate of 68.1 million ounces of silver AgEq.
Unico Silver holds a 100% interest in the Cerro Leon and Joaquin silver-gold districts located in Argentina.
Write to Aaliyah Rogan at Mining.com.au
Images: Unico Silver
