Unico Silver Strikes Big at La Morocha SE: What’s Next for PLUS 150?

Discovery Details and Significance

Unico Silver Limited (ASX – USL) has announced a major new discovery at the La Morocha SE zone, part of its 100%-owned Joaquin Project in Santa Cruz, Argentina. The standout drill intercept, hole JDD028-25, returned an impressive 69 metres grading 163 grams per tonne (gpt) silver equivalent (AgEq), including a high-grade sub-interval of 8.5 metres at 656 gpt AgEq. This discovery marks the second significant mineralised zone identified by the company in July, underscoring the expanding scale of the Joaquin system.

Geological Context and Exploration Progress

The La Morocha SE zone exhibits a strike length of approximately 350 metres, a vertical extent of 175 metres, and thicknesses between 35 and 45 metres. Importantly, mineralisation remains open to the south and at depth, suggesting further growth potential. The new zone lies down-dip from historical drilling that also returned encouraging grades, indicating improving mineralisation with depth. This area, part of the underexplored Cerro Puntudo tenement, had previously been overlooked due to fragmented ownership but is now fully consolidated under Unico Silver.

Strategic Implications for PLUS 150 Growth Target

The discovery directly feeds into Unico Silver’s PLUS 150 growth strategy, which aims to delineate 150 million ounces of silver equivalent in pit-constrained, free-milling silver resources. The wide zones of oxide gold and silver mineralisation at La Morocha SE contribute materially to this ambitious target. With 27 additional drill holes (totaling nearly 4,000 metres) still awaiting assay results, the company anticipates that the upcoming Mineral Resource Estimate (MRE), scheduled for early 2026, will not fully capture the recent exploration success.

Looking Ahead – Resource Update and Further Drilling

Managing Director Todd Williams highlighted the rapid pace of discovery, noting that the mineralisation has extended well beyond the boundaries of the 2013 Foreign Estimate into new ground. The company plans to resume drilling in September following the revised MRE, focusing on regional, extension, and infill drilling to further define and expand the resource base. This ongoing exploration effort is critical to converting the Foreign Estimate into a JORC-compliant Mineral Resource and advancing the project towards development.

Technical Rigor and Historical Context

The announcement also details the robust technical framework underpinning the results, including diamond drilling techniques, quality assurance protocols, and geological logging standards. The Joaquin Project benefits from a rich history of exploration by previous operators, including Pan American Silver and Coeur D’Alene Mines, with Unico Silver now consolidating and advancing the asset. The project’s location within the Deseado Massif; a prolific silver-gold province; adds further geological credibility to the findings.