Unico Silver Limited (ASX:USL) Announces Cerro Leon Drill Results
Drilling Highlights
Unico Silver Limited (USL) has announced promising assay results from the ongoing drilling at the Cerro Leon project in Argentina. Drilling commenced in October 2024 and is expected to continue through Q1 2025.
The Phase 1 Reverse Circulation drilling encompassed 56 holes over 4,847 meters, with results received for 37 holes totaling 3,169 meters. Significant grades were reported, including a remarkable 3134 gpt silver assay from the Chala prospect, along with substantial results from the CSS, Archen-Chala, and Tranquilo prospects.
Key Findings
Noteworthy results include:
– CSS prospect: 2 meters at 482 gpt AgEq from 42 meters, and 15 meters at 198 gpt AgEq from 51 meters.
– Chala prospect: 10 meters at 651 gpt AgEq from 5 meters, including 3 meters at 1936 gpt AgEq from 7 meters.
– Archen prospect: 17 meters at 429 gpt AgEq from 95 meters, and 13 meters at 287 gpt AgEq from 63 meters.
The drill program’s focus is on identifying high-grade mineralisation outside the current Mineral Resource Estimate, particularly within the Karina, CSS, and Archen-Chala prospects.
Executive Comments
Todd Williams, Managing Director of Unico Silver Limited, remarked, “Drilling at Cerro Leon continues to return significant mineralisation within multiple structures that fall outside of the current Mineral Resource. At Archen, we have reported an exceptional drill hole, confirming our strategy to expand mineralisation at all prospects.”
Future Developments
The second phase of diamond drilling, expected to amount to 10,000 meters, has commenced. The focus will remain on enhancing the vertical continuity of mineralisation as well as pursuing ongoing regional exploration efforts.
Unico Silver operates within the strategically significant Deseado Massif geological province and holds a JORC compliant Mineral Resource Estimate of 91 Moz AgEq for the Cerro Leon project. Further updates are anticipated as the drilling progresses.
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