Unico Silver (ASX:USL) has begun a maiden drilling program at the Joaquin Project in Argentina ahead of schedule.
A combination of reverse circulation and diamond drilling, totalling 10,000m, will be carried out initially on the Cerro Puntundo property. The program will target the southeast extension of La Morocha and La Negra deposits, as well as the Breccia Puntundo structure and regional targets.
The company says one rig will be operating 24 hours a day to maximise productivity and expedite results.
Managing Director Todd Williams says this initiative represents a growth opportunity for the company, as well as highlights the first time a single company has explored and developed resources on both sides of the tenement boundary, previously held by Pan American Silver and Yamana.
“We are particularly excited about the potential to discover new high-grade mineralisation, especially in the underexplored Cerro Puntundo property to the south,” Williams says.
“With results anticipated in six weeks, and ongoing exceptional results from Cerro Leon, we look forward to keeping shareholders informed as we drive this silver project forward, supported by favourable silver prices, a positive outlook, and the jurisdictional advantages Argentina offers.”
Further, the company notes the program includes select infill drilling to support the conversion of historical NI-43-101 foreign estimate to JORC (2012) complaint resources.
The program forms part of a fully funded 50,000m drilling program, with assays received from 6,034m of drilling to date.
Unico Silver holds a portfolio of properties in the Santa Cruz region of Argentina, which is considered a well-known region for its multi-million-ounce gold and silver epithermal vein deposits.
Write to Aaliyah Rogan at Mining.com.au
Images: Unico Silver
