Unico Silver (ASX:USL) has received drill results being heralded as a “defining moment” for the silver miner, with the hits validating its geological model and suggesting Joaquin’s La Negra prospect is even larger than expected.
Listen to the HotCopper podcast for in-depth discussions and insights on all the biggest headlines from throughout the week. On Spotify, Apple, and more.
The “significant breakthrough,” found in the southeast extension of the company’s Argentinian dig site, comes as the silver miner looks to expand the mineralised footprint beyond a 2013 foreign estimate.
“This is an exceptional result and a defining moment for the Joaquin Project,” Unico’s managing director, Todd Williams, declared alongside the results today.
The miner’s chief added that “these [assay] results validate our geological model and demonstrate that the La Negra system is larger than previously interpreted, with mineralisation remaining open in all directions.”
Hole JDD017-25 intersected 90 metres at 144 grams per tonne silver-equivalent from 10 metres, including 4m @ 718g/t AgEq and 6m @ 559g/t AgEq from 38m.
The same hole is 25 metres west and down-dip of a historical hole, RD0037, which shows mineralisation is expanding at depth. The hole terminated in mineralisation, with true widths estimated to be 80% of reported widths.
Drilling also confirmed more than two kilometres of strike along the La Negra structure.
“With drilling successfully completed and over 4,000 metres of assay results pending, we are well positioned to deliver a robust, high-confidence JORC Mineral Resource for Joaquin in the third quarter,” Mr Williams said.
“This discovery will underpin the PLUS 150 strategy to define more than 150M ounces of pit-constrained, free-milling silver across Joaquin and Cerro Leon.”
USL‘s value rocketed on Monday’s “defining” news, up +25.7% to 41.5cps.
The material provided in this article is for information only and should not be treated as investment advice. Viewers are encouraged to conduct their own research and consult with a certified financial advisor before making any investment decisions. For full disclaimer information, please clickhere.
A personalised tool to help users track selected stocks. Delivering real-time notifications on price updates, announcements, and performance stats on each to help make informed investment decisions.
(20min delay)