Unico Silver Hits 107m at 165gpt AgEq, Raises $50M for Joaquin Growth
Unico Silver’s December quarter saw exceptional drill results at its Joaquin project and a $50 million capital raise, propelling the company into pre-feasibility studies and strengthening its development outlook.
- Exceptional high-grade silver-gold drill results at Joaquin project
- Transition to Pre-Feasibility Study (PFS) stage underway
- Raised ~$50 million via institutional placement and upsized Share Purchase Plan
- Expanded mineralisation footprint with open-pit mining potential
- Strong cash position of approximately $66.7 million to fund growth
Quarterly Highlights and Strategic Progress
Unico Silver Limited (ASX, USL) has reported a transformative December 2025 quarter, marked by outstanding drilling success at its flagship Joaquin silver-gold project in Argentina’s Santa Cruz province. The company’s accelerated exploration and resource conversion efforts have culminated in a decision to advance directly to a Pre-Feasibility Study (PFS) level Mineral Resource Estimate, a significant step towards mine development.
Key drill results from the quarter include wide, shallow oxide mineralisation suitable for open-pit mining, with standout intercepts such as 107 metres at 165 grams per tonne silver equivalent (AgEq) from 18 metres depth. These results underpin the company’s confidence in the scale and continuity of the deposit, particularly at La Negra SE and La Morocha zones.
Capital Raising Strengthens Balance Sheet
Supporting this technical progress, Unico Silver successfully completed a $40 million institutional placement at $0.55 per share, complemented by an upsized Share Purchase Plan (SPP) raising an additional $10.3 million. Together, these capital raises have fortified the company’s cash reserves to approximately $66.7 million, providing ample funding for ongoing drilling, metallurgical testing, environmental studies, and feasibility workstreams.
Managing Director Todd Williams emphasised the quarter as a pivotal inflection point, highlighting the transition from exploration to development and the company’s readiness to deliver high-confidence resources. The increased drilling capacity, now operating five rigs, is accelerating the conversion of resources from inferred to indicated categories, critical for advancing the project’s economic evaluation.
District-Scale Potential and Portfolio Consolidation
Beyond Joaquin, Unico Silver’s broader portfolio in Santa Cruz includes the Cerro Leon project, boasting a JORC-compliant Mineral Resource Estimate of 162 million ounces silver equivalent. The company’s strategic consolidation of multiple projects previously held by major miners positions it as a dominant player in this emerging silver district.
Exploration efforts continue to identify new targets, such as the La Rubia silver anomaly, and extend known mineralisation zones. The company’s BEYOND 300 growth strategy aims to build on these discoveries, targeting long-term resource expansion and district-scale development opportunities.
De-Risking and Feasibility Advancement
Unico Silver has initiated geotechnical, metallurgical, and environmental baseline studies to materially de-risk the mine development pathway. These studies will inform open-pit design parameters, processing assumptions, and environmental permitting, aligning with Argentina’s RIGI investment framework to streamline approvals.
The company anticipates delivering a maiden PFS in the first half of 2026, integrating geology, mining, metallurgy, and environmental inputs to underpin mine planning and economic evaluation.
Bottom Line?
With robust drilling results and a strengthened balance sheet, Unico Silver is poised to redefine its silver-gold footprint in Santa Cruz, but upcoming PFS outcomes will be critical to validate its development trajectory.
Questions in the middle?
- How will the upcoming PFS impact Unico Silver’s project valuation and financing options?
- What are the key risks in transitioning from exploration to development at Joaquin?
- How might regional exploration successes influence the company’s long-term growth strategy?
