Unico Silver (ASX:USL) has deployed a second diamond drill rig at its fully owned Joaquin Project in Santa Cruz, Argentina. This move follows encouraging assay results from the first phase of drilling, which highlighted significant potential to grow the project’s mineral resource.
The initial phase involved 2,712 meters of reverse circulation drilling across 20 holes. The new rig will focus on testing deeper extensions, supporting the development of a maiden JORC-compliant mineral resource estimate for Joaquin.
Mineralisation remains open in multiple directions — northwest, southwest, and at depth. Recent drilling confirmed extensions to the La Negra silver resource, validating earlier exploration. Notable intercepts include 17 meters grading 258 grams per tonne (g/t) silver equivalent from 63 meters depth, and 1 meter at 1,213 g/t silver equivalent from 65 meters.
At the nearby Brunilda deposit, Unico Silver identified broad zones of near-surface silver mineralisation, suggesting further discovery potential. Key results include 23 meters at 88 g/t silver equivalent from just 4 meters depth, and 8 meters at 134 g/t silver equivalent from 11 meters.
Managing Director Todd Williams said the encouraging results from both deposits confirm the significant scale and development prospects of the Joaquin Project.
“With a second diamond rig now in operation, we are advancing deeper drilling and step-out programs to rapidly expand resources and unlock new zones,” Williams said.
“These results reaffirm Joaquin’s scale and development potential, strengthening our position as the leading undeveloped silver project in Santa Cruz.”
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