Unico Silver (ASX:USL) has announced positive drill results from its Joaquin Project in Argentina, validating the company’s geological model. The results indicate the La Negra prospect’s system is larger than previously interpreted. The intercept from hole JDD017-25 is considered a major milestone. It expands the mineralised footprint beyond the 2013 foreign estimate. Unico Silver aims to transition from explorer to developer. The company focuses on its PLUS 150 strategy.
Hole JDD017-25 intersected 90 metres at 144 grams per tonne silver-equivalent from 10 metres. That includes 4 metres at 718g/t silver-equivalent from 23 metres and 6 metres at 559g/t silver-equivalent from 38 metres. According to Unico, mineralisation remains open to the south and at depth. Drilling has now confirmed more than 2km of strike along the La Negra structure.
Managing Director Todd Williams says this is a defining moment for the Joaquin Project. He notes that hole JDD017-25 confirms shallow, broad, high-grade oxide mineralisation more than 1km south-east of the historical foreign estimate at La Negra. Unico Silver wholly owns the Cerro Leon and Joaquin silver-gold districts in Santa Cruz, Argentina.
With drilling successfully completed and over 4,000m of assay results pending, the company aims to deliver a JORC mineral resource for Joaquin in Q3. The company’s PLUS 150 strategy seeks to define more than 150 million ounces of pit-constrained, free-milling silver-equivalent across the Joaquin and Cerro Leon districts. Joaquin hosts a foreign estimate of 73 million ounces of silver-equivalent for 16.7 million tonnes at 136g/t silver-equivalent. Unico Silver is an Australian company focused on silver exploration and development in Argentina.
