Unico Silver Defines 55 Surface Exploration Targets at Joaquin and Cerro Leon Projects in Argentina

Aditi Sarkar

10 November 2026 12:56 PM AEDT

Unico Silver Defines 55 Surface Exploration Targets at Joaquin and Cerro Leon Projects in Argentina

Image Source: Krish Capital Pty Ltd

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Unico Silver Limited (ASX:USL) has disclosed that its 2026 regional field campaign has defined 55 surface exploration targets across its 100%-owned Joaquin and Cerro Leon silver-gold projects in Santa Cruz Province, Argentina, with nine priority targets selected for follow-up in the coming summer field season.

Key Points

55 surface exploration targets defined across Joaquin and Cerro Leon, comprising 33 at Joaquin and 22 at Cerro Leon, underpinned by 19,406 surface samples and 643 line-km of ground magnetics.
Nine priority targets identified, seven outside current Mineral Resources and two extending existing Mineral Resource outlines; drilling planned first at J01 (La Morena) and J26.
Initial drilling at La Morena returned 36m at 1.34g/t Au and 8g/t Ag from 17m in hole JDD308-26, with rock chips up to 32.6g/t Au recorded at the prospect.
Rock chips up to 2,104g/t Ag recorded at SB-01 (C01) at Cerro Leon, and up to 6.36g/t Au at the Isla Zone (C04).
The Pre-Feasibility Study timetable remains on track for release in January 2027, with the regional program running in parallel and not affecting that schedule.

Regional Sampling Program and Target Definition

Unico's first-pass program used BLEG stream sediment sampling, soil grids and rock chip sampling of outcropping veins and breccias, combined with a validated compilation of historical samples. Of the 19,406 total surface samples, 5,606 were collected by Unico between 2023 and 2026. At Joaquin and Cerro Puntudo, Unico collected 3,863 samples across BLEG, soil and rock chip media, while at Cerro Leon, 1,743 Unico samples were collected alongside 10,453 historical samples. Historical Cerro Leon soils include contributions from Argentex and the Mariana-IAMGOLD joint venture programs conducted between 2004 and 2011.

Priority Target Highlights at Joaquin and Cerro Puntudo

At Joaquin, the La Morena to Lineamiento Oeste gold corridor recorded Unico rock chips up to 32.6g/t Au at La Morena and 30.5g/t Au along a new 1.5km trend to the east. Additional results include 12.7g/t Au to the north at J08, 6.49g/t Au to the east at J09, and 9.41g/t Au to the north-west at J26. At Cerro Puntudo, the J19 Sector Suroeste prospect returned BLEG anomalies up to 95.8ppb Au and a Unico rock chip of 13.3g/t Au, with 18 rock chips collected in October 2026 returning up to 5.38g/t Au. A systematic soil grid of more than 3,000 samples is planned for the summer field season.

Priority Target Classification and Cerro Leon Results

The 55 targets are classified into three categories: priority exploration targets outside current Mineral Resources with multiple high-grade Unico rock chips or coincident anomalies; resource extensions that overlap a current Mineral Resource outline; and pipeline targets requiring further mapping and sampling before ranking for drilling. At Cerro Leon, priority targets include SB-01 (C01), which returned rock chips up to 2,104g/t Ag, and the Isla Zone (C04), a 1.3km vein-breccia representing the western extension of the Isla vein, with rock chips up to 6.36g/t Au. J03 and C03 are identified as the priority resource extension targets.

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