Unico Silver (ASX:USL) has received drill results validating its geological model and demonstrating that the La Negra prospect’s system is larger than previously interpreted, within the Joaquin Project in Argentina.
The intercept from hole JDD017-25 is considered a “major” milestone for Unico as it expands the mineralised footprint beyond the 2013 foreign estimate.
In conjunction it reinforces the potential to convert and grow high-confidence, pit-constrained, free-milling silver ounces under the company’s previously reported PLUS 150 strategy.
Unico reports hole JDD017-25 intersected 90m @ 144 grams per tonne silver-equivalent (AgEq) from 10m, including 4m @ 718g/t AgEq from 23m and 6m @ 559g/t AgEq from 38m.
Mineralisation remains open to the south and at depth, with drilling now confirming more than 2km of strike along the La Negra structure.
Managing Director Todd Williams says this is a defining moment for the Joaquin Project.
“Hole JDD017-25 confirms the presence of shallow, broad, high-grade oxide mineralisation more than 1km south-east of the historical foreign estimate at La Negra,” Williams says.
“With drilling successfully completed and over 4,000m of assay results pending, we are well-positioned to deliver a robust, high-confidence JORC mineral resource for Joaquin in Q3.
“This discovery will underpin the company’s PLUS 150 strategy to define more than 150 million ounces of pit-constrained, free-milling silver-equivalent across the Joaquin and Cerro Leon districts.”
Unico Silver wholly owns the Cerro Leon and Joaquin silver-gold districts located in central Deseado Massif geological province, Santa Cruz, Argentina.
Joaquin hosts a foreign estimate of 73 million ounces of silver-equivalent for 16.7 million tonnes @ 136g/t silver-equivalent.
Write to Aaliyah Rogan at Mining.com.au
Images: Unico Silver
