La Negra Drill Hole Returns 90m at 144gpt Silver Equivalent, Expanding Resource

Exceptional Drill Results at La Negra

Unico Silver Limited (ASX – USL) has unveiled a major step-out drill intercept at its La Negra prospect within the Joaquin Project in Argentina’s Santa Cruz province. Hole JDD017-25 returned an impressive 90 metres grading 144 grams per tonne (gpt) silver equivalent starting from just 10 metres downhole. This intercept includes higher-grade zones such as 4 metres at 718 gpt silver equivalent, underscoring the prospect’s rich mineralisation.

This result marks a significant expansion of the mineralised footprint well beyond the 2013 Foreign Estimate, which was previously the benchmark for the area. The mineralisation remains open both to the south and at depth, with drilling now confirming over 2 kilometres of strike along the La Negra structure. The hole also lies 25 metres west and down-dip of a historical hole, indicating mineralisation is expanding at depth.

Strategic Implications for Resource Growth

Managing Director Todd Williams described the intercept as a “defining moment” for the Joaquin Project. The presence of broad, high-grade oxide mineralisation more than one kilometre southeast of the historical estimate validates Unico Silver’s geological model and suggests the system is larger than previously interpreted. With drilling now complete and assay results pending for 29 additional holes, the company is positioned to deliver a robust, high-confidence JORC Mineral Resource update in the third quarter of 2025.

This discovery is a cornerstone of Unico Silver’s PLUS 150 strategy, which targets defining over 150 million ounces of pit-constrained, free-milling silver equivalent across its Joaquin and Cerro Leon districts. The strategy leverages both the newly acquired Joaquin project and the existing Cerro Leon resource, which currently holds a JORC-compliant Mineral Resource Estimate of 91 million ounces silver equivalent.

Geological and Operational Context

The Joaquin and Cerro Leon projects lie within the Deseado Massif geological province, a prolific silver-gold region in southern Argentina. The mineralisation style is epithermal, hosted in Jurassic volcanic rocks, with both oxide and sulphide zones identified. The La Negra prospect features vertical vein and breccia structures, with mineralisation open in multiple directions, presenting significant upside potential.

Drilling techniques included diamond and reverse circulation methods, with rigorous sampling and assay protocols ensuring data quality. The company has also highlighted that the Foreign Estimate for Joaquin is not yet JORC-compliant, and further work is underway to convert these into formal Mineral Resources.

Looking Ahead

With assay results for over 4,000 metres of drilling pending and a JORC Mineral Resource update expected soon, Unico Silver is advancing towards a critical phase of resource definition and potential development. The company’s ability to expand the mineralised footprint and validate its PLUS 150 strategy will be closely watched by investors and industry observers alike.