Unico Silver’s latest drilling at the Joaquin Project delivers record silver equivalent grades at Breccia Puntudo and expands mineralisation at La Negra SE and La Morocha SE, underpinning resource growth ahead of the Pre-Feasibility Study.
- Record 11.25m at 1,301gpt AgEq at Breccia Puntudo
- Drilling extends mineralisation beyond March 2026 resource
- Wide oxide zones confirmed at La Negra SE and La Morocha SE
- Ongoing resource upgrade supports upcoming PFS
- Focus on converting inferred to indicated resources
Record High-Grade Breccia Puntudo Intercept Sets New Benchmark
Unico Silver Limited (ASX:USL) has smashed its previous drilling records at the Joaquin Project in Argentina with an outstanding intercept of 11.25 metres grading 1,301 grams per tonne silver equivalent (AgEq) from 127.4 metres at the Breccia Puntudo prospect. This hole, JDD228-26, includes a blistering 6.8 metres at 1,934gpt AgEq, featuring 22gpt gold and 8gpt silver, marking the highest-grade mineralisation recorded to date at the project. Situated 70 metres down plunge from a strong prior intercept, this result highlights the potential of Breccia Puntudo as a key source of high-grade feed for Unico’s upcoming Pre-Feasibility Study (PFS).
Extensional Drilling Expands Mineralisation at La Negra SE and La Morocha SE
Step-out drilling at La Negra SE delivered wide zones of oxide gold-silver mineralisation up to 250 metres beyond the March 2026 Mineral Resource boundary, with holes like JDD245-26 returning 29.4 metres at 152gpt AgEq. Similarly, La Morocha SE’s extensional drilling continues to confirm increasing grades at depth, exemplified by hole JDD221-26 intercepting 23.5 metres at 266gpt AgEq, including 14.2 metres at 398gpt AgEq. These results reinforce continuity and open-ended mineralisation along strike and at depth, providing a robust foundation for resource growth.
Ongoing Drill Program Advances Resource Confidence and Development Pipeline
With 75 drill holes completed in this latest tranche totaling 9,563 metres, Unico has now reported assays for 222 holes over 31,980 metres since drilling commenced in September 2025. The company’s focus remains on converting the initial March 2026 Inferred Mineral Resource at Breccia Puntudo to the higher-confidence Indicated category, essential for the PFS. Concurrently, extensional drilling at La Negra SE and La Morocha SE aims to expand the current Mineral Resource, both of which remain open along strike and at depth. These efforts dovetail with feasibility workstreams including geotechnical drilling and water bore exploration to underpin future development.
Joaquin Project Positioned as a Large, Shallow Oxide Silver-Gold System
The Joaquin Project’s March 2026 Mineral Resource Estimate stands at 167 million ounces silver equivalent, positioning it as a significant oxide-dominant system with strong potential for open-pit mining and low-cost processing. This latest drilling success builds on the substantial resource upgrade reported earlier in 2026, confirming multiple high-grade shoots within a 3.5-kilometre structural trend at Breccia Puntudo and wide oxide zones at La Negra SE and La Morocha SE. The project’s scale and grade profile place Unico Silver firmly in the spotlight as a pure-play silver developer with a growing, high-margin inventory.
Strategic Implications and Next Steps
Managing Director Todd Williams emphasises the strategic importance of these results in strengthening Unico’s development pipeline: “These outcomes strengthen our strategy of building a scalable, high-margin oxide inventory, with a clear focus on converting resources to higher confidence categories and advancing material into the development pipeline.” The company plans to continue drilling to define vertical mineralised shoots at Breccia Puntudo and expand resources at La Negra SE and La Morocha SE, alongside water exploration to support processing infrastructure.
This drilling update complements Unico’s recent Joaquin resource upgrade to 167Moz AgEq and follows earlier high-grade Breccia Puntudo assays that first highlighted the prospect’s potential. Together, these developments sustain momentum as the company advances towards its PFS milestone, with market participants watching how ongoing drilling and feasibility studies translate into resource upgrades and project economics.
Bottom Line?
Unico Silver’s record-breaking drill results at Joaquin underscore the project’s high-grade potential, but the key test will be converting these ounces into a viable, scalable mining operation through the upcoming PFS.
Questions in the middle?
- How will metallurgical and environmental studies impact the economic viability of the high-grade oxide mineralisation?
- What is the timeline and expected confidence level for converting inferred resources to indicated status at Breccia Puntudo?
- How might existing royalties and commodity price fluctuations shape the project’s development and financing options?