Unico Silver (ASX:USL) has confirmed the presence of a high-grade mineralised shoot at its Cerro Leon project, with new drill results revealing grades as high as 2,400 grams per tonne silver-equivalent over a four-metre interval.
The phase two program which began in January includes the discovery at the Archen prospect extending “high-grade” mineralisation a further 50m below previous drill results where detailing assay results are currently 49 holes for 6,879m pending.
At the Archen deposit, drill results returned 3,2m @ 265g/t silver-equivalent from 119m, including 4m @ 2,400g/t silver-equivalent from 136m.
Unico, which has a market capitalisation of $78.82 million, said in a statement the Archean discovery confirms the potential for the Sierra Blanca property and poorly explored western continuation of the Cerro Leon vein field.
Regional exploration including detailed soil and rock chip sampling programs are underway to advance additional targets within Sierra Blanca to drill status.
Managing Director Todd Williams says the grades are increasing as the company drills deeper, with individual assays returning up to 108g/t gold.
“Importantly, all these newly identified intercepts lie outside our existing mineral resource, representing pure additional ounces and further reinforcing the project’s strong exploration upside,” Williams says.
“The discovery underscores the significant potential for additional high-grade mineralisation within the underexplored western extension of the Cerro Leon vein field.
“At the same time, we are preparing to launch a regional exploration program across the broader Sierra Blanca property, aiming to generate a strong pipeline of surface targets for future drilling and systematically grow our resource base.”
Unico Silver is an emerging growth-oriented silver developer focused on its flagship Cerro Leon Project located in the Santa Cruz Province of Argentina.
Write to Aaliyah Rogan at Mining.com.au
Images: Unico Silver
