Unico Silver (ASX:USL) has appointed former CFO of De Grey Mining (ASX:DEG) Peter Canterbury as a non-executive Director ahead of its plans to advance the Cerro Leon and Joaquin projects in Argentina.
Canterbury has over 30 years of experience in international mining, spending four years in his De Grey role, at a time where the company was able to raise around $1.2 billion in equity and secure $1.13 billion in bank financing.
Now wholly owned by Northern Star Resources (ASX:NST), Canterbury played a key role in the advancement of De Grey’s Hemi gold discovery through both a Prefeasibility Study and Definitive Feasibility Study.
Hemi has an established 530,000 ounces of gold per annum for more than 10 years, qualifying as a tier one level project.
Managing Director Todd Williams says the company is pleased to have someone of Canterbury’s expertise on the board.
“His deep development and financing experience will be invaluable as we advance our PLUS 1502 and BEYOND 3002 growth strategy, with our two cornerstone silver projects in Argentina moving rapidly towards development,” Williams says.
Unico intends to prepare a revised resource estimate and maiden Scoping Study of both projects in the central Deseado Massif geological province of Santa Cruz, Argentina.
Canterbury says the company is well positioned to advance its silver exploration operations at Cerro Leon and Joaquin.
“Unico has clearly defined a significant provincial-scale silver opportunity in one of the world’s most productive silver regions,” Canterbury says.
“With an existing resource base exceeding 160 million ounces silver equivalent, with resource growth underpinned by exploration success during 2025 and buoyant silver prices, the platform is well positioned for a meaningful development outcome.”
Write to Maddison Elliott at Mining.com.au
Images: Unico Silver
