In Santa Cruz province, high-grade results from La Morocha, La Negra SE and La Morocha SE confirm Joaquin as a district-scale silver-gold system.
By Panorama Minero
Unico Silver Limited reported assay results for 21 holes (3587m) as part of an ongoing drill program at the Company’s 100%-owned Joaquin Project in Santa Cruz province. This brings total reported assays since drilling commenced September 2025 of 31 holes for 5113m.This includes exceptional high-grade silver gold intercepts at three prospects – La Morocha, La Negra SE and La Morocha SE.
Managing Director Todd Williams stated: “The Joaquin Project continues to deliver exceptional results. Infill drilling at La Morocha has confirmed that bonanza-grade silver mineralisation—typical of that previously mined underground by Pan American Silver—extends far closer to surface than previously understood. A standout intercept of 1.8 metres at 8,335gpt (grams per tonne) AgEq (Silver Equivalent) from 52 metres demonstrates the potential for early, near-surface ounces and strengthens the case for open-pit development.
At La Negra SE, step-out drilling has extended mineralisation a further 200 metres to the southeast, with hole JDD047-25 returning 34.7 metres at 110 gpt AgEq, while infill holes continue to intersect broad zones of silver-gold mineralisation close to surface, including 43 metres at 256 gpt AgEq (JDD048-25) and 71 metres at 131 gpt AgEq (JDD063-25). Deeper drilling has successfully extended mineralisation to over 160 metres vertical, with 34 metres at 170 gpt AgEq (JDD056-25), and the system remains open in all directions.
Early follow-up drilling at La Morocha SE has also confirmed a new discovery, with strong mineralisation returned across multiple holes, including 20 metres at 160 g/t AgEq (JDD070-25). Visible gold continues to be observed in several recent holes with assays pending, highlighting the robust scale and continuity of this emerging district-wide system. With multiple discoveries and shallow, high-grade intercepts now defined across the Joaquin district, Unico is rapidly advancing the Company’s PLUS 150 and BEYOND 300 development and exploration growth strategies”.
This forms part of a 30,000m drill program focused on regional exploration and new discoveries, and the delineation of high-confidence, pit-constrained, free-milling silver ounces at Joaquin, with an updated JORC Mineral Resource Estimate on track for delivery this year following the receipt of outstanding drill assays.
Next Steps include:
Focus of the current 30,000m fully funded drill program will include:
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La Negra SE and La Morocha SE extensional drilling focusing on expanding the mineralised footprint to the SE and at depth, in addition to infill drilling shallow high-grade zones to Indicated resources status.
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Regional scout drilling targeting the covered extensions of both vein trends, exploring for repetitions of the high-grade mineralised shoots.
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Interim Mineral Resource Estimate is anticipated 3 weeks following the receipt of the final assays from the currently completed drill holes at La Negra SE and La Morocha SE.
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Geotechnical drilling to support open pit mine design input parameters.
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Ongoing mapping, soil and rock chip sampling expanding the current area of interest to adjacent untested vein trends.
