Unico Silver (ASX:USL) has mobilised a second diamond drill rig to its wholly owned Joaquin Project in Santa Cruz, Argentina after first assays demonstrated the resource growth potential.
Phase one of the program consisted of 2,712m of reverse circulation drilling across 20 holes. A second drill rig will test the area for deeper extensions, supporting a maiden JORC mineral resource estimate at Joaquin.
Mineralisation remains open to the northwest, southwest, and at depth, with recent drilling confirming extensions to the La Negra silver resource.
Results from the deposit validate historical drilling, with intercepts including 17m at 258 grams per tonne silver equivalent from 63m and 1m at 1,213g/t from 65m.
The company also discovered broad zones of near-surface silver mineralisation at the Brunilda deposit, with potential for additional discoveries.
Results include 23m at 88g/t silver equivalent from 4m and 8m at 134g/t silver equivalent from 11m.
Managing Director Todd Williams says the results from both deposits reaffirm the Joaquin Project’s scale and development potential.
“With a second diamond rig now operational, we are advancing deeper drilling and step-out programs to rapidly grow resources and unlock new zones,” Williams says.
“These results reaffirm Joaquin’s scale and development potential and strengthen our position as the leading undeveloped silver project in Santa Cruz.”
The next phase will see ongoing infill and extensional drilling at La Negra, as well as further exploration of the Brunilda discovery. The company also plans to commence systematic drilling along strike from La Morocha to target repetitions of silver mineralisation to the southeast.
Unico Silver is focused on the development of silver projects with a portfolio spanning Argentina.
Write to Maddison Elliott at Mining.com.au
Images: Unico Silver
