Unico Silver Limited (ASX:USL) Reports High-Grade Drill Results
Drill Results Overview
Unico Silver Limited has announced promising assay results from the ongoing drilling program at its Cerro Leon project in Argentina, confirming significant high-grade mineralisation at the Karina prospect. The company has received results for the first nine holes, totalling 757 metres, with assays pending for an additional 42 holes.
Significant Assay Highlights
Noteworthy results include hole PR003-24, which returned 12 metres at 307gpt silver equivalent (AgEq) from 49 metres. This assay included a standout interval of 3 metres at 1,052gpt AgEq. Other notable findings include holes PR004-24 and PR009-24, which demonstrated strong mineralisation with significant continuous intervals.
The current drilling program has defined mineralisation over a 900-metre strike and extends 75 metres down dip. Notably, several drill holes remain open at depth, indicating further exploration potential.
Future Outlook
Unico Silver plans to scale up operations in January with the addition of two diamond rigs to investigate vertical continuity across Karina and other priority prospects. The drill program comprises approximately 5,000 metres, fully funded, and will continue into early 2025. The company expects to deliver a steady stream of further results and a revised Mineral Resource Estimate (MRE) later in 2025.
Todd Williams, Managing Director of Unico Silver, stated, “The first nine holes at Karina exceed expectations and confirms the continuity of mineralisation along 900m strike and the potential for further extensions at depth… shareholders can look forward to a steady stream of results and updates over the next 12 months, including a revised MRE.”
Company’s Mineral Resource Status
Unico Silver holds 100% ownership of the Cerro Leon project, which is located in the central Deseado Massif geological province. The project currently boasts a JORC compliant Mineral Resource Estimate of 91 million ounces of silver equivalent for 16.5 million tonnes at an average grade of 172gpt AgEq.
Motley Fool contributor Abbie Stokes has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.
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