Unico Silver (ASX:USL) has returned further ‘high-grade’ assay results from drilling outside the Joaquin resource estimate area, located in Santa Cruz, Argentina.
The company has returned assays from 46 drillholes across 6,631m, with drilling still ongoing.
Unico says the program has delivered “strong gold-silver intercepts” from the La Morocha SE, Breccia Puntudo, and La Negra SE prospects.
Extensional drilling at La Morocha SE has returned 52.3m @ 378 grams per tonne silver equivalent from 184.8m, including 8.5m @ 1,831g/t silver equivalent from 223.8m. Located outside the resource estimate area, Unico describes the result as the “best drillhole to date”.
Mineralisation was uncovered 50m down-plunge from one drillhole, returning 69m @ 163g/t silver equivalent from 138.3m, which Unico says confirms gold grades strengthen at depth.
Infill drilling conducted at the Breccia Puntudo prospect has confirmed gold mineralisation to support the upgrade of the resource estimate from inferred to indicated.
Breccia Puntudo has returned 12.7m @ 1,178g/t silver equivalent from 56.9m at hole JDD235-26; 15.7m @ 363g/t silver equivalent from 84m, including 0.8m @ 3,615g/t silver equivalent from 88.2m at hole JDD256-26; and 9.4m @ 366g/t silver equivalent from 29.2m at hole JDD258-26.
Two holes, JDD235-26 and JDD256-26, are located 40m and 80m, respectively, up-dip from drillhole JDD228-25, which was previously reported to return 11.2m @ 1,301g/t silver equivalent from 127.4m.
Unico says extensional drilling conducted at La Negra SE supports future resource growth by returning broad zones of oxide gold-silver mineralisation along strike and below the resource area.
Assays include 78m @ 137g/t silver equivalent from 91m, including 10.1m @ 467g/t silver equivalent from 133.2m, and 74.2m @ 94g/t silver equivalent from 1.8m, including 11.5m @ 210g/t silver equivalent from 57m.
With its latest exploration drilling now complete, the company is progressing Prefeasibility Study (PFS) workstreams. This includes geotechnical drilling, phase two baseline environmental studies, and water-exploration drilling for hydrological studies.
Both the La Negra SE and La Morocha SE prospects remain open at depth and along strike. Unico says these areas provide a “clear opportunity” for future resource growth with further exploration drilling.
Unico will recommence exploration drilling in Q3 2026.
Managing Director Todd Williams says Unico is advancing drilling across the Joaquin Project on “multiple fronts”.
“At Breccia Puntudo we have confirmed high grades close to surface, reinforcing this 3.5km structure as a potential source of high-grade feed for the upcoming PFS, with clear upside as we define further mineralised shoots,” Williams says.
“At La Morocha SE, drilling has delivered the best hole yet with a standout intercept of 52.3m at 378g/t silver equivalent, including 8.5m at over 1,800g/t silver equivalent, indicating grades strengthen at depth, while step-out drilling has extended La Negra SE to depth and 250m to the south-east.
“Importantly, all of these results sit outside our March 2026 mineral resource and remain open. They underpin our strategy of expanding oxide resources to demonstrate growth beyond the maiden PFS scheduled for late Q3 2026.”
Unico Silver will be attending the Noosa Mining Conference, held from 22–24 July at Pepper Noosa Resort in Noosa Heads, Queensland.
Mining.com.au is an official media partner of this year’s conference.
Write to Maddison Elliott at Mining.com.au
Images: Unico Silver
