Unico Silver (ASX:USL) has intersected up to 3,134 grams per tonne silver at the Chala prospect within the Cerro Leon Project in Argentina.
As part of the first-phase reverse circulation drilling program, drillhole PR035-24 returned an individual silver assay of up to 3,134g/t silver.
Managing Director Todd Williams says the drilling program has continued to return significant mineralisation within multiple structures that fall outside of the current mineral resource, including the Karina, CSS, and Archen-Chala prospects.
“At Archen, drilling has returned an exceptional hole of 17m @ 429g/t silver-equivalent from 92m downhole depth, the highest to date for the prospect,” Williams says.
Unico Silver, which has a market capitalisation of $87.58 million, has begun a phase two diamond drilling program which will focus on extending the vertical continuity of mineralisation at all of the prospects outside the current mineral resource.
The current drilling program, which forms part of a broader 50,000m program, is anticipated to continue through to the end of Q1 2025.
The phase one drilling program, completed in December 2024, comprised 56 holes for 4,847m. The program was designed to test shallow mineralisation at six prospects within Cerro Leon.
Assays have been received for 37 holes for the CSS, Archen-Chala, and Tranquilo prospects. The remaining assays for 10 holes are pending.
The Cerro Leon Project, located in Santa Cruz, Argentina, hosts a mineral resource estimate of 91 million ounces of silver-equivalent @ 172g/t for 16.5 million tonnes.
Unico Silver is an emerging growth-oriented silver developer focused on its Cerro Leon and Joaquin projects.
Write to Aaliyah Rogan at Mining.com.au
Images: Unico Silver
