Unico Silver sets ambitious exploration goals in Argentina’s prolific Santa Cruz province

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By Imelda Cotton - 
Unico Silver ASX USL Cerro Leon Argentina exploration target

Unico Silver (ASX: USL) has announced a maiden exploration target for its flagship Cerro Leon project in the Santa Cruz province of Argentina.

The target ranges between 10 million tonnes and 15Mt, grading up to 266 grams per tonne silver equivalent and amounting to up to 128 million ounces silver equivalent.

This is in addition to the project’s existing mineral resource estimate of 16.4Mt at 172g/t silver equivalent for 92Moz silver equivalent.

Extensive review

The target is based on an extensive review of 735 drill holes and 969 trenches at Cerro Leon, along with surface geological, geochemical and geophysical data.

It incorporates 30 prospects, 18 of which are extensions (along strike and at depth) of mineral resources where the drill spacing exceeds 100 metres.

The remaining prospects include lateral extensions of mineralised veins coincident with geochemical or geophysical targets untested by drilling.

‘Important roadmap’

Managing director Todd Williams said the exploration target would be valuable for the company’s activities at Cerro Leon.

“This will serve as an important roadmap for our upcoming work programs and underscores the excellent potential for future discoveries and resource growth,” he said.

“This next phase of planned work is consistent with our vision of building a globally relevant silver company with resources beyond 150Moz silver equivalent.”

Field activities have been scheduled for later this year, once final drill permits have been received.

Mining-friendly region

Unico holds a portfolio of exploration properties in Argentina’s mining-friendly Santa Cruz province, host to multi-million-ounce precious metal epithermal vein deposits such as Cerro Negro (owned by Newmont ASX: NEM) and Cerro Vanguardia (AngloGold Ashanti).

Cerro Leon is located 130 kilometres northwest of San Julian and is centered on the same geological trend as Cerro Vanguardia, where historical and current reserves exceed 9Moz of gold and 140Moz of silver.

The project is host to the second-largest vein field in the province, with mapped veins totaling 115km of cumulative strike.

To date, 25% of the veins have been drill-tested, and approximately 50% have yielded resources.