Unico Silver’s Resource Growth Hinges on Upcoming September Estimate
Unico Silver’s June quarter report highlights significant drilling successes at its Joaquin and Cerro Leon projects, advancing its transition from explorer to developer with promising resource expansions.
- Nearly 20,000 metres drilled across Joaquin and Cerro Leon projects
- PLUS 150 strategy targets 150Moz silver equivalent resources near surface
- BEYOND 300 strategy focuses on sulphide resource growth to 300Moz AgEq
- JORC Mineral Resource Estimate update expected September 2025
- Appointment of Peter Canterbury strengthens board expertise
Exploration Momentum Builds
Unico Silver Limited (ASX – USL) has delivered a robust June 2025 quarterly report, underscoring its rapid progress in the Santa Cruz province of Argentina. The company’s drilling programs at the Joaquin and Cerro Leon projects have yielded multiple high-grade silver and gold intercepts, reinforcing its strategic shift from explorer to developer.
During the quarter, Unico completed nearly 20,000 metres of drilling, with 63 holes at Joaquin and 65 holes at Cerro Leon. These efforts have not only confirmed historical mineralisation but also uncovered new discoveries and extensions to existing high-grade zones. Notably, step-out drilling at La Negra SE and La Morocha SE prospects at Joaquin revealed wide zones of oxide silver-gold mineralisation that remain open along strike and at depth.
PLUS 150 and BEYOND 300 Growth Strategies
The company’s immediate PLUS 150 strategy aims to delineate 150 million ounces of silver equivalent (AgEq) in free-milling, pit-constrained resources across both projects. This quarter’s drilling results, including standout intercepts such as 90 metres at 144gpt AgEq at La Negra SE and 36 metres at 474gpt AgEq at Marta Norte in Cerro Leon, provide strong support for this target.
Looking further ahead, the BEYOND 300 strategy focuses on medium-term growth by unlocking sulphide resources to expand the mineral resource base to 300Moz AgEq. Encouraging sulphide intercepts at prospects like Karina, Savary, and MS Link demonstrate the potential for significant resource scale and longevity, with some assays reporting bonanza-grade silver equivalent values exceeding 4,000gpt.
Resource Definition and Upcoming Milestones
Unico Silver is on track to release updated JORC-compliant Mineral Resource Estimates (MRE) in September 2025, which will incorporate the latest drilling data and upgrade the historical Foreign Estimate at Joaquin. The company has temporarily paused drilling activities to prioritise this resource update, signaling a disciplined approach to advancing its development pipeline.
Financially, Unico ended the quarter with a solid cash balance of $12.5 million, following a period of intensive drilling expenditure. The company expects a significant reduction in cash outflows in the coming quarter as field activities wind down.
Strengthening Governance
Adding to its momentum, Unico Silver appointed Peter Canterbury, former CFO of De Grey Mining, as an independent non-executive director. Canterbury’s experience in guiding De Grey through resource growth and a landmark $6 billion acquisition brings valuable insight as Unico embarks on a similar growth trajectory.
Managing Director Todd Williams highlighted the geological potential of the portfolio and the company’s readiness to transition into a developer, emphasizing the upside for further resource expansion beyond the upcoming MRE.
Bottom Line?
With resource upgrades imminent and strategic leadership bolstered, Unico Silver is poised for a pivotal phase in its development journey.
Questions in the middle?
- How will the September 2025 JORC Mineral Resource Estimate impact Unico Silver’s valuation?
- What are the timelines and capital requirements for advancing from resource definition to development?
- How might pending assay results influence the scope of the BEYOND 300 sulphide resource strategy?
