Unico Silver (ASX:USL) Managing Director Todd Williams says the company is confident in upgrading resource classification at the La Negra prospect, part of the Joaquin Project in Argentina, after receiving further drill results.
The company is aiming to convert the Joaquin Project’s 2013 foreign estimate into a JORC-compliant resource, as well as deliver a maiden resource at the Breccia Puntundo and La Negra prospects.
Joaquin has a foreign estimate of 73 million ounces silver-equivalent for 16.7 million tonnes @ 136 grams per tonne silver-equivalent.
The phase one drilling program (10,000m) will conclude in June 2025. Remaining assays, including additional La Negra infill and drilling along the southeastern extension of La Morocha, are expected in July.
Regional exploration at Brunilda and other prospects will resume in August following a short winter shutdown, with the aim of supporting further additions to the company’s PLUS 150 exploration target.
Meanwhile, the Cerro Leon Project hosts a resource of 91 million ounces silver-equivalent for 16.5 million tonnes @ 172g/t silver-equivalent.
Some of the latest drill results include 4m @ 507g/t silver-equivalent from 56m; 15m @ 222g/t silver-equivalent from 31m; and 28m @ 522g/t silver-equivalent from 33m.
Williams says these initial infill results represent a step forward delivering a mineral resource in Q3 2025.
“They validate our PLUS 150 strategy to develop high-value, free-milling silver ounces,” Williams says.
The current operations include two diamond rigs which will continue until the end of June. Assay results for up to 30 holes remain outstanding.
Unico Silver is focusing on advancing its strategy, as previously reported, to define high-confidence, pit-constrained, free-milling silver ounces at Joaquin.
Write to Aaliyah Rogan at Mining.com.au
Images: Unico Silver
