Unico Silver (ASX: USL) has significantly extended mineralisation with an ongoing drill program at its Joaquin project in Argentina.
Recent work across the project has hit a number of high-grade silver and gold intercepts that remain open to the southeast and at depth.
Unico has so far reported assays from 31 holes for 5,113 metres of its 30,000m program focused on regional exploration and new discoveries.
Numerous High-Grade Hits
Exploration hole JDD047-25 has defined an additional 200m of mineralisation to the southeast at La Negra, returning 34.7m at 110 grams per tonne silver equivalent (0.4g/t gold and 69g/t silver) from 121.5m.
Extensional and infill work at La Negra returned a number of significant assay results, with one of 43m at 256g/t silver equivalent (1.8g/t gold and 74g/t silver) from 75m that included 11m at 714g/t silver equivalent (6.5g/t gold and 84g/t silver) from 97.5m among the best of them.
The company also used infill drilling to define the up-dip projection of La Morocha’s mineralisation, with hole JDD064-25 delivering a return of 42.4m at 437g/t silver equivalent from 49.6m that included 1.85m at 8,335g/t silver equivalent (0.2g/t gold, 8,313g/t silver) from 52.7m.
Closer to Surface than Expected
“The Joaquin project continues to deliver exceptional results […] typical of that previously mined underground by Pan American Silver, which extends far closer to surface than previously understood,” managing director Todd Williams said.
Unico believes that the silver intercept of 8,335g/t both confirms Joaquin’s potential for near-surface ounces and strengthens the case for open-pit development.
"With multiple discoveries and shallow, high-grade intercepts now defined across the Joaquin district, Unico is rapidly advancing the company’s PLUS 150 and BEYOND 300 development and exploration growth strategies,” Mr Williams added.
Future work will include scout drilling targeting covered extensions of the two vein trends and repetitions of the high-grade mineralised shoots, which – along with the examination of free-milling silver ounces – Unico will use to deliver an updated JORC mineral resource estimate by the end of the year.
