Joaquin’s Exceptional Drill Results Boost Open-Pit Mining Prospects, But Resource Confirmation Pending
Unico Silver Limited has reported outstanding drill results from its Joaquin Project in Argentina, revealing wide, high-grade silver-gold mineralisation at La Negra SE. These results accelerate the project’s progression towards a Pre-Feasibility Study Mineral Resource Estimate.
- Exceptional drill intercepts at La Negra SE with up to 107m at 165g/t silver equivalent
- Broad, shallow oxide silver-gold mineralisation confirmed over 850m strike and 175m vertical extent
- Advancement to Pre-Feasibility Study Mineral Resource Estimate covering La Negra, La Negra SE, and La Morocha
- Ongoing 30,000m fully funded drill program with infill and extensional drilling
- Regional exploration highlights new silver anomaly at La Rubia, indicating further discovery potential
Exceptional Drill Results at La Negra SE
Unico Silver Limited (ASX – USL) has delivered a significant boost to its Joaquin Project in Santa Cruz, Argentina, with the release of assay results from 31 drill holes totalling 4,782 metres. The standout intercept, hole JDD113-25, returned an impressive 107 metres grading 165 grams per tonne (g/t) silver equivalent (AgEq) starting from just 18 metres downhole. This intercept includes a higher-grade segment of 55.6 metres at 245 g/t AgEq, underscoring the exceptional quality of mineralisation encountered.
The drilling campaign focused on La Negra SE, a key prospect within the Joaquin Project, where infill and extensional drilling has confirmed a broad, shallow zone of oxide silver-gold mineralisation extending over an 850-metre strike length and 175 metres vertically. The mineralisation remains open to the southeast and at depth, suggesting further upside potential.
Advancing Towards Development
With infill drilling nearing completion on a 50m by 25m grid, Unico Silver is preparing to upgrade the confidence level of its Mineral Resource Estimate (MRE) to Indicated status for La Negra SE, alongside La Negra and La Morocha. The company plans to proceed directly to a Pre-Feasibility Study (PFS)-level MRE, a critical step towards project development.
Supporting this transition, geotechnical and comminution drilling programs have been completed, with samples shipped to Nevada for ore hardness testing. Environmental baseline studies are also underway, aligning with conventional open-pit mining requirements.
Regional Exploration and Growth Potential
Beyond La Negra SE, regional soil geochemical sampling has identified a new silver anomaly at La Rubia, measuring 650 by 150 metres with silver concentrations exceeding 2,500 parts per billion. This discovery highlights the potential for additional shallow silver-gold deposits along strike from La Morocha, further enhancing the project’s exploration upside.
The Joaquin Project benefits from a rich history of exploration and production, including a Foreign Estimate of 73 million ounces silver equivalent and historical production of 4.3 million ounces silver by Pan American Silver Corp. Unico Silver’s ongoing 30,000-metre drill program is fully funded and aims to expand and upgrade resources across multiple prospects.
Strategic Positioning in Santa Cruz
Located in the Deseado Massif geological province, the Joaquin Project sits alongside Unico Silver’s Cerro Leon Project, which hosts a JORC-compliant Mineral Resource Estimate of 162 million ounces silver equivalent. The region is known for its prolific silver-gold deposits, including AngloGold Ashanti’s Cerro Vanguardia mine.
Managing Director Todd Williams emphasised the rapid progression from exploration to development, noting the strong continuity of mineralisation and the company’s commitment to advancing the project’s technical studies and resource confidence.
Bottom Line?
Unico Silver’s robust drill results at Joaquin set the stage for a pivotal resource upgrade and development milestone in 2026.
Questions in the middle?
- How will the upcoming Pre-Feasibility Study impact project financing and timelines?
- What are the implications of the new La Rubia silver anomaly for regional resource expansion?
- When can investors expect the updated JORC-compliant Mineral Resource Estimate following pending assays?
