Unico Silver marks major breakthrough at La Negra with high-grade drill results at Joaquin Project

With the La Negra discovery redefining the potential of the Joaquin Project, Unico Silver strengthens its presence in Argentina’s silver sector, laying the foundation for future development and strategic partnerships.

Unico Silver (ASX:USL) has announced a significant milestone at its La Negra prospect, part of the Joaquin Project in Argentina, with new drilling results confirming a larger-than-expected mineralized system and validating the company’s geological model.

Hole JDD017-25 intersected 90 metres at 144 grams per tonne (g/t) silver-equivalent (AgEq) from 10 metres depth, including 4m @ 718g/t AgEq from 23m and 6m @ 559g/t AgEq from 38m. This discovery marks a meaningful expansion of the mineralized footprint beyond the 2013 foreign resource estimate.

“This is a defining moment for the Joaquin Project,” said Todd Williams, Managing Director of Unico Silver. “Hole JDD017-25 confirms the presence of shallow, broad, high-grade oxide mineralisation more than 1km southeast of the historical La Negra estimate.”

The mineralisation remains open to the south and at depth, with drilling now confirming more than 2km of continuous strike along the La Negra structure. With over 4,000 metres of assay results pending and drilling successfully completed, Unico is on track to deliver a robust, high-confidence JORC-compliant mineral resource in Q3 2025.

Reinforcing the PLUS 150 Strategy

These results are a strong endorsement of Unico’s PLUS 150 strategy, which aims to define over 150 million ounces of pit-constrained, free-milling silver-equivalent resources across its flagship Joaquin and Cerro Leon districts.

The Joaquin Project, located in Argentina’s central Deseado Massif geological province, currently hosts a foreign estimate of 73 million ounces of silver-equivalent, based on 16.7 million tonnes at an average grade of 136g/t AgEq.

Unico Silver holds 100% ownership of both the Joaquin and Cerro Leon silver-gold districts, positioning the company to significantly expand its resource base in one of South America's premier silver mining regions.