Wedonay.com Report on Mar 19th, Unico Silver Limited has announced the JORC Mineral Resource Estimate results for its Joaquín Project in Santa Cruz Province, Argentina, showing a significant increase in silver equivalent resources.
According to the report, the Joaquín Project resource stands at 45.3 million tonnes at a grade of 115 g/t silver equivalent, totaling 167 million ounces of silver equivalent, including 123 million ounces of silver and 521,000 ounces of gold. Since acquiring the project in October 2024, the silver equivalent content has grown by 143%. Seventy-eight percent of the resource falls into the high-confidence Indicated category, providing a solid foundation for the planned Pre-Feasibility Study. The update is based on 27,723 meters of drilling completed since April 2025, with a discovery cost of $0.11 per silver equivalent ounce.
The combined resource for the Joaquín and Cerro Leon projects is now 76.2 million tonnes at a grade of 135 g/t silver equivalent, totaling 330 million ounces of silver equivalent, representing a 43% increase since September 2025. This confirms these projects as globally significant undeveloped silver resources. The free-milling resource is 53.4 million tonnes at a grade of 124 g/t silver equivalent, totaling 212 million ounces of silver equivalent, supporting the company's PLUS 150 development strategy, which targets resources suitable for conventional open-pit mining and whole-ore cyanide processing.
The first Pre-Feasibility Study is on schedule for Q3 2026, with key technical programs including metallurgy, pit optimization, geotechnical studies, process design, and environmental baseline work. Managing Director Todd Williams commented: "This Mineral Resource update solidly establishes Joaquín as the cornerstone asset within our Santa Cruz portfolio. Since the acquisition in late 2024, the team has rapidly advanced the asset, completing over 27,000 meters of drilling and increasing the silver equivalent ounce content by 143%. The updated resource provides a strong foundation for the upcoming Pre-Feasibility Study, with over 200 million ounces of free-milling oxide material supporting our first-phase 'Oxide-First' development strategy. Reaching 330 million ounces silver equivalent at Joaquín and Cerro León is a significant milestone for the company, validating our BEYOND 300 growth strategy."
