Maiden 10,000m drill program targets resource expansion and high-grade discoveries.
By Panorama Minero
Unico Silver Limited announced the accelerated commencement of a maiden drill program at the Joaquin Project, located in Santa Cruz province.
Highlights
• 10,000m drill program underway, incorporating both Reverse Circulation (RC) and diamond drilling, commencing with RC.
• One rig operating 24 hours per day to maximise productivity and accelerate results.
• Drilling to commence on the Cerro Puntudo property targeting the southeast extension of La Morocha and La Negra deposits, the Breccia Puntudo structure, and regional targets.
• Gold-silver assay results expected in 6 weeks.
• The program includes select infill drilling to assist the conversion of historical NI-43 101 foreign estimate to JORC (2012) compliant resources.
• Drilling at the Joaquin project was brought forward to Q2 2025, ahead of schedule, reflecting strong support from the local mining authorities for the development of the project.
• The program forms part of a fully funded 50,000m drill program, with assay results received for 6,034m.
Opportunities for resource growth
• Several high-grade historical drill holes lie outside the current resource1, highlighting the strong potential for resource expansion:
• La Negra Feeder: 4.5m at 1,699 gpt Ag (Silver), 22gpt Au (Gold) from 272m
• La Negra Extension: 3m at 2,723 gpt Ag, 4.1gpt Au from 54m
• La Morocha Extension: 8m at 226gpt Ag, 0.5gpt Au from 189m
• Breccia Puntudo: 9m at 10.3gpt Au, 38gpt Ag from 55m.
• These results confirm the continuity of high-grade mineralisation beyond the currently defined resource and will be key targets for the current program.
Managing Director, Todd Williams:
We are thrilled to bring forward drilling at the Joaquin project.
This initiative represents a key growth opportunity for us but also
highlights a historic moment—it's 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. Our
initial focus will be to extend the southern reaches of the known
resources at La Negra and La Morocha. However, we are particularly
excited about the potential to discover new high-grade mineralisation,
especially in the underexplored Cerro Puntudo property to the south.
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.
