Unico Silver (USL), an Australian-listed company focused on the exploration and development of silver-gold projects, has announced a robust September 2026 quarter, characterised by significant de-risking activities and a substantial capital raise for its 100%-owned Joaquin Silver-Gold Project. The company’s latest quarterly report details key milestones that position it for the next phase of development and growth in Argentina’s Santa Cruz province.
A crucial development involved securing surface rights for the Joaquin Project with the completion of the initial consideration for the La Mata estancia. This acquisition, comprising approximately 10,172 hectares of strategic freehold land, was finalised through a US$3.5 million cash payment and the issuance of 5,903,717 shares. This ensures Unico now controls all necessary surface rights for mining infrastructure, representing a major de-risking milestone. Furthermore, Unico Silver executed an option to acquire the Cerro La Mata exploration properties, an additional 17,287 hectares immediately east of Joaquin, strategically consolidating the interpreted eastern extension of the Joaquin vein field.
Project advancement saw the maiden Pre-Feasibility Study (PFS) for Joaquin and Cerro Leon rescheduled to January 2027. This deliberate decision aims to incorporate an updated Mineral Resource Estimate, reflecting recent infill and extensional drilling, alongside additional metallurgical and process testwork. This approach is expected to result in a higher-confidence study. Financially, the company completed a successful $60 million institutional placement during the quarter, attracting strong support from domestic and international investors.
This capital injection, combined with existing reserves, boosts Unico Silver’s cash balance to $100.2 million at quarter-end, providing funding through to the completion of the PFS and Definitive Feasibility Study (DFS). Managing Director Todd Williams noted that the September quarter positioned Unico for its next phase of growth, highlighting the importance of the land acquisition and exploration footprint expansion. The focus for the upcoming period includes delivering the updated Mineral Resource and PFS in January 2027, commencing a 20,000-metre resource growth drilling program, and advancing fieldwork at Cerro La Mata.
