Unico Silver Strengthens Joaquin Project with Bonanza-Grade Discoveries in Argentina

Key Highlights:

• Multiple high-grade silver-gold intersections reported from La Morocha and La Negra SE prospects at the Joaquin Project.
• Step-out drilling extends mineralisation by 200 metres to the southeast at La Negra SE.
• Bonanza-grade intervals including 1.8m at 8,335g/t silver equivalent confirm near-surface potential.
• Updated JORC Resource Estimate expected later in 2025 as Unico accelerates district-scale exploration.
• Managing Director Todd Williams says the results demonstrate “continuity, quality and scale” of Joaquin’s mineral system.
  
   

Unico Silver Ltd (ASX: USL) has announced a string of impressive high-grade silver-gold intercepts from ongoing drilling at its 100%-owned Joaquin Project in Santa Cruz, Argentina, marking another step forward in its drive to define one of South America’s most significant undeveloped silver-gold districts.

The results come from 21 holes totalling 3,587 metres across the La Morocha, La Negra SE, and La Morocha SE zones, all of which have returned consistent grades and strong mineral continuity near surface.

Managing Director Todd Williams described the new assays as “some of the most exciting results yet from Joaquin,” underscoring the project’s potential for open-pit development and rapid resource growth.

“These results demonstrate that bonanza-grade silver mineralisation extends closer to surface than previously interpreted,” Williams said. “Our growing understanding of the structural controls at La Morocha and La Negra SE continues to reveal new high-grade zones and reinforces Joaquin’s district-scale potential.”

Exceptional Intercepts Highlight Joaquin’s Growth

Drilling at La Morocha delivered a standout intercept of 42.4 metres at 437g/t silver equivalent (AgEq), including 1.85 metres at 8,335g/t AgEq from 52.7 metres. Such near-surface grades, according to Unico’s geological team, are characteristic of epithermal silver systems capable of hosting both open-pit and underground potential.

At La Negra SE, step-out drilling extended mineralisation 200 metres southeast, with hole JDD047-25 returning 34.7 metres at 110g/t AgEq. Additional infill drilling produced intercepts such as 43 metres at 256g/t AgEq (JDD048-25) and 71 metres at 131g/t AgEq (JDD063-25), while deeper drilling confirmed mineralisation continuity to over 160 metres below surface.

Meanwhile, a newly defined zone at La Morocha SE revealed 20 metres at 160g/t AgEq (JDD070-25), confirming a third high-grade zone within the Joaquin district.

Williams said the results not only confirm the strength of mineralisation at Joaquin but also highlight the scale and persistence of the system.

“Each phase of drilling continues to expand our footprint. We are now seeing continuity across multiple mineralised structures with strong grades from shallow depths, which bodes well for future mine development,” he added.

Building Toward a New Resource Estimate

The latest results form part of Unico Silver’s broader 30,000-metre drilling program aimed at upgrading and expanding resources across the Joaquin Project. The company is progressing toward an updated JORC 2012 Mineral Resource Estimate, expected later this year.

To date, 31 holes for over 5,000 metres have been reported, with assays pending for additional holes drilled in October and November.

The ongoing program supports Unico’s PLUS 150 and BEYOND 300 growth strategy, which targets organic resource expansion to more than 150 million ounces of silver equivalent across its portfolio. The Joaquin Project, alongside the Cerro Leon district, forms a cornerstone of this plan.

District-Scale Potential Across Santa Cruz

Unico’s Santa Cruz portfolio covers more than 35,000 hectares within the Deseado Massif, one of the world’s most prolific precious metals regions. The area hosts several globally recognised operations, including Cerro Vanguardia, Cerro Negro, and Manantial Espejo.

Joaquin’s mineralisation style is classic low-sulphidation epithermal, known for producing both high-grade silver and gold veins. The project area includes two principal deposits — La Morocha and La Negra, plus new targets at La Morocha SE and La Negra SE — all of which remain open along strike and at depth.

Unico’s acquisition of Joaquin from Pan American Silver in 2024 added a Foreign Estimate of 73 million ounces AgEq, complementing the company’s JORC-compliant 162 million ounces AgEq at Cerro Leon. Combined, these resources place Unico among the leading ASX-listed silver developers.

Technical Confidence and Future Outlook

Unico’s technical team continues to apply advanced exploration techniques, integrating induced polarisation (IP) surveys, structural mapping, and 3D geophysical modelling to refine drill targeting.

The company’s sampling and assay procedures adhere to industry-standard QA/QC protocols, with results independently verified by Alex Stewart Laboratories in Argentina.

At the time of writing this article, Unico’s shares (ASX: USL) were up by 5.98% trading at $ A0.57.

Source: Google Finance 

Looking ahead, Unico plans to:

• Expand step-out drilling at La Negra SE to follow the 200-metre extension.
• Upgrade high-grade zones at La Morocha to Indicated category.
• Begin geotechnical and metallurgical test work to support future feasibility studies.
• Continue regional reconnaissance across untested vein systems within the Joaquin district.
  
   

Williams said the next phase of exploration would “focus on converting early success into resource growth and development readiness.”

“We are witnessing the evolution of Joaquin into a multi-deposit silver-gold district. These results underscore our belief that Unico is advancing one of the most exciting silver development stories in Argentina today,” he said.

Takeaways

District-Scale Potential:

Joaquin is shaping up as a multi-deposit silver-gold district, with strong continuity across La Morocha, La Negra SE, and La Morocha SE.

High-Grade Near-Surface Mineralisation:

Bonanza grades of up to 8,335g/t AgEq highlight the potential for shallow, high-value open-pit development.

Strategic Resource Growth:

A new JORC 2012 Resource Estimate due in late 2025 positions Unico for significant revaluation and long-term production optionality.