Unico Silver Limited announced a JORC (2012) Mineral Resource Estimate (MRE) for the Company’s 100%-owned Joaquin Project in Santa Cruz province.
By Panorama Minero
Highlights include
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Significant growth in Joaquin Mineral Resources
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45.3Mt at 115gpt silver equivalent (AgEq) for 167 Moz AgEq, representing a 143% increase in contained AgEq since acquisition of the Joaquin project in October 20242.
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Mineral Resource includes 123Moz Ag (Silver) and 521koz Au (Gold), confirming Joaquin as a unique silver dominant system.
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78% in high-confidence Indicated category, providing a strong foundation for the upcoming Pre-Feasibility Study (PFS).
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The updated MRE is underpinned by 27,723 m of drilling completed since April 2025 with an all-in discovery cost of US$0.11 per AgEq ounce.
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Beyond 300 global resource milestone achieved
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Combined resources at Joaquin and Cerro Leon now total 76.2 Mt at 135gpt AgEq for 330Moz AgEq (includes 185Moz Ag and 1,084koz Au) representing a 43 % increase since September 2025.
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Confirms Joaquin and Cerro Leon as a significant undeveloped silver resource globally.
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Large PLUS 150 free-milling resource support Phase 1 “Oxide First” development strategy
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Total free-milling resources now stands at 53.4Mt at 124gpt AgEq for 212Moz AgEq (includes 153Moz Ag and 673koz Au)
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These resources underpin the Company’s PLUS 150 development strategy, targeting ounces amenable to conventional open-pit mining and whole-ore cyanidation processing.
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Maiden Pre-Feasibility Study on track for Q3 2026, with key technical programs underway including metallurgy, pit optimisation, geotechnical studies, flowsheet design and environmental baseline work.
Managing Director Todd Williams commented**:**
“This Mineral Resource update firmly establishes Joaquin as a cornerstone asset within our Santa Cruz portfolio and highlights the scale of the silver-gold system we have consolidated across the district.
Since acquiring the Joaquin project in late 2024, the team has rapidly advanced the asset, completing more than 27,000 metres of drilling and delivering a 143% increase in contained silver equivalent ounces. Importantly, the majority of this growth sits within near-surface oxide mineralisation, which is well suited to conventional open-pit mining and whole-ore cyanidation processing.
The updated resource now provides a robust foundation for the upcoming Pre-Feasibility Study, with 78% of tonnes in the Indicated category and more than 200 million ounces of free-milling oxide material supporting our Phase 1 “Oxide First” development strategy.
At the district level, reaching 330 million ounces of silver equivalent across Joaquin and Cerro León represents a major milestone for the Company and validates our BEYOND 300 growth strategy. Few silver development companies globally control a resource base of this scale within a single mining district.
With a clear pathway toward development and significant exploration upside remaining across the district, we believe Unico Silver is uniquely positioned to unlock substantial long-term value from the Joaquin silver district”.
