Unico Silver Limited has reported exceptional high-grade silver intercepts from its Phase 2 drilling at Cerro Leon, confirming multiple new discoveries and launching an expanded Phase 3 program to upgrade resources and explore deeper polymetallic zones.
- Final assays from 63 diamond holes totaling 9,143m confirm multiple new high-grade silver discoveries
- Karina prospect delivers bonanza-grade shallow oxide silver intercepts up to 5,638gpt Ag
- New polymetallic zones identified at MS Link, Savary, Kasia, Silvia, and Ivonne Extension
- Expanded Phase 3 drilling program of approximately 6,500m underway targeting resource upgrades and maiden inferred resources
- Regional exploration at Sierra Blanca reveals promising underexplored vein systems
Phase 2 Drilling Confirms High-Grade Silver Potential
Unico Silver Limited (ASX: USL) has delivered a compelling update from its Cerro Leon project in Santa Cruz, Argentina, reporting final assay results from 63 diamond drill holes totaling 9,143 meters. The Phase 2 drilling program has not only confirmed multiple new discoveries but also revealed exceptional high-grade shallow oxide silver mineralisation, particularly at the Karina prospect. These results underpin the company's decision to expand its drilling efforts into a more ambitious Phase 3 campaign.
Bonanza Grades at Karina Highlight Shallow Oxide Potential
The Karina prospect continues to impress with some of the highest-grade silver intercepts recorded to date at Cerro Leon. Noteworthy results include 7.6 meters at 980 grams per tonne silver equivalent (AgEq) from just 11.4 meters depth, including a remarkable 1.1 meters at 5,969 gpt AgEq. Additional intercepts such as 38.6 meters at 176 gpt AgEq and 13 meters at 772 gpt AgEq (including 1.7 meters at 4,625 gpt AgEq) demonstrate both the grade and continuity of this shallow oxide zone, which now extends over 900 meters strike and 125 meters down dip.
New Polymetallic Discoveries Expand Cerro Leon’s Footprint
Beyond Karina, the Phase 2 program has identified significant polymetallic mineralisation at several new targets including MS Link, Savary, Kasia, Silvia, and Ivonne Extension. MS Link, in particular, represents a new style of flat-lying stockwork-hosted mineralisation, with broad zones starting from 25 meters below surface and remaining open laterally. Savary drilling intersected a massive sulphide feeder structure with strong polymetallic grades, while Kasia and Silvia prospects have confirmed extensive strike lengths and vertical continuity of mineralisation. The Ivonne Extension has revealed a southeast-plunging mineralised shoot extending 400 meters strike and 100 meters vertical beyond the current resource boundary, with grades improving at depth.
Phase 3 Drilling Targets Resource Upgrades and Maiden Inferred Resources
In response to these encouraging results, Unico Silver has commenced an expanded Phase 3 drilling campaign totaling approximately 6,500 meters. This program combines 3,500 meters of reverse circulation (RC) drilling focused on infill at Karina and other prospects to upgrade mineralisation to Indicated Resource status, alongside 3,000 meters of diamond drilling targeting deeper polymetallic zones and maiden Mineral Resource Estimates (MRE) for newly defined structures. The company aims to convert high-grade oxide zones to Indicated category and unlock the broader scale of the Cerro Leon district, including bulk-tonnage targets such as MS Link.
Regional Exploration and Portfolio Context
Unico Silver is also advancing regional exploration at the Sierra Blanca project, where initial surface campaigns have identified over 7 kilometers of mapped brecciated vein outcrop and multiple epithermal systems that remain underexplored. The company’s portfolio includes 100% ownership of the Cerro Leon and Joaquin silver-gold districts, with Cerro Leon hosting a JORC-compliant Mineral Resource Estimate of 91 million ounces silver equivalent. Joaquin, acquired from Pan American Silver, holds a historical foreign estimate of 73 million ounces silver equivalent, though this is yet to be JORC-compliant.
Technical Rigor and Forward Outlook
The drilling and assay programs have been conducted with rigorous quality control, including systematic geological logging, QAQC protocols, and independent verification by qualified professionals. Unico Silver’s Managing Director Todd Williams highlighted the significance of the Phase 2 results and the strategic design of Phase 3 to enhance resource confidence and explore new polymetallic targets. The company’s forward-looking statements emphasize ongoing exploration dynamism and the potential for Cerro Leon to evolve into a major silver-gold district.
Bottom Line?
With Phase 3 drilling underway, Unico Silver is poised to redefine Cerro Leon’s resource profile and unlock its district-scale potential.
Questions in the middle?
- How will Phase 3 drilling results impact the classification and size of Cerro Leon’s Mineral Resource Estimate?
- What is the economic potential and metallurgy of the newly discovered polymetallic zones at MS Link and Savary?
- When can investors expect a JORC-compliant Mineral Resource update for the Joaquin project?