Unico Silver’s latest drilling at the Joaquin Project in Argentina has delivered standout high-grade gold-silver intercepts outside the March 2026 Mineral Resource Estimate, underpinning potential resource growth ahead of the Pre-Feasibility Study.
- Best drill hole at La Morocha SE hits 52.3m at 378gpt AgEq
- High-grade infill drilling supports resource category upgrade at Breccia Puntudo
- La Negra SE extensional drilling extends mineralisation strike by 250m
- Exploration drilling phase complete; focus shifts to PFS workstreams
- Drilling to resume in Q3 2026 with multiple zones still open
Record High-Grade Intercepts at La Morocha SE
Unico Silver Limited (ASX:USL) has punched through its previous best drill hole at the La Morocha SE prospect within the Joaquin Project, delivering a remarkable 52.3 metres grading 378 grams per tonne silver equivalent (AgEq). This includes a blistering 8.5 metres at 1,813gpt AgEq, featuring 18.3gpt gold and 256gpt silver, confirming that mineralisation intensifies at depth. The hole, JDD276-26, sits 50 metres down-plunge from the initial discovery intercept and pushes mineralised continuity deeper, highlighting the prospect’s growing significance beyond the March 2026 Mineral Resource Estimate (MRE).
Breccia Puntudo Infill Drilling Validates Resource Upgrade
At Breccia Puntudo, infill drilling has reinforced the high-grade nature of gold mineralisation close to surface. Notable intercepts include 12.7 metres at 1,178gpt AgEq (13.8gpt Au) and 15.7 metres at 363gpt AgEq with a standout 0.8 metre section hitting 3,615gpt AgEq (42gpt Au). These results underpin efforts to convert inferred resources into the higher-confidence indicated category, a critical step for the upcoming Pre-Feasibility Study (PFS). The 3.5-kilometre mineralised structure remains open with further potential for defining additional mineralised shoots.
La Negra SE Extends Mineralisation Along Strike and Depth
Extensional drilling at La Negra SE has pushed mineralisation 250 metres southeast beyond the current MRE boundary, expanding the strike length to 1.1 kilometres. Drill hole JDD240-26 intercepted 78 metres at 137gpt AgEq, including a higher-grade 10.1-metre section at 467gpt AgEq. Another hole, JDD267-26, returned 74.2 metres at 94gpt AgEq from near surface. These wide zones of oxide gold-silver mineralisation remain open both at depth and along strike, providing clear avenues for further resource growth when drilling resumes in Q3 2026.
Transition to Pre-Feasibility Study Workstreams
With exploration drilling now complete for this phase, Unico Silver is shifting focus to PFS-related activities. These include geotechnical drilling for tailings storage facility design, Phase 2 baseline environmental studies, and hydrological investigations through water-exploration drilling. The ongoing work aims to de-risk development pathways and refine project economics ahead of the maiden PFS scheduled for late Q3 2026.
Joaquin Project Positioned for Growth
The Joaquin Project, part of Unico’s broader Santa Cruz portfolio which includes the Cerro Leon Project, currently hosts a combined Mineral Resource base of approximately 330 million ounces silver equivalent. The March 2026 MRE for Joaquin alone stands at 167 million ounces AgEq, characterised by a shallow, oxide-dominant system amenable to open-pit mining and low-cost processing. The new drilling results reinforce the potential to expand these resources further, particularly at La Morocha SE, Breccia Puntudo, and La Negra SE, all of which remain open for extensions.
Managing Director Todd Williams emphasised the strategic importance of these results, noting that the high-grade intercepts outside the current resource underpin the company’s growth ambitions and support the upcoming PFS. The combination of expanding oxide resources and advancing feasibility workstreams positions Unico Silver well in the competitive silver-gold development landscape.
Bottom Line?
Unico Silver’s latest drill results bolster the case for resource expansion beyond the March 2026 MRE, setting the stage for a pivotal Pre-Feasibility Study and renewed exploration in Q3 2026.
Questions in the middle?
- How will the upcoming PFS incorporate these new high-grade intercepts into the economic model?
- What impact will the Metalla and Cerro Vanguardia royalties have on project valuation and development timelines?
- Can further drilling at La Morocha SE and La Negra SE sustain or improve the current grade thickness metrics?