Unico Silver (ASX:USL) is transitioning from explorer to developer, focusing on its Joaquin and Cerro Leon silver projects in Argentina. The company is implementing a PLUS 150 and BEYOND 300 exploration and development plan to expedite this shift. At Joaquin, drilling is underway with two rigs until the end of June to complete a 10,000m program. Unico believes potential exists for new silver discoveries, with five regional prospects prioritized for future exploration.
Cerro Leon features high-grade oxide mineralization near the surface, extending 50m deep, offering low-strip mining potential. A phase-three drilling program is nearing completion. Unico, with a market capitalization of $120.4 million, intends to convert the Joaquin 2013 foreign estimate into a JORC-compliant resource and deliver a maiden resource at Breccia Puntundo and La Negra deposits within Cerro Leon. Resource estimates are expected in Q3 2025, followed by geotechnical studies and pit optimization, forming the basis of a maiden Scoping Study aligned with the PLUS 150 development strategy. Cerro Leon holds a resource of 91 million ounces silver-equivalent, while Joaquin has a foreign estimate of 73 million ounces silver-equivalent.
