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Unico Silver Limited (ASX:USL)

ALERT: Price-sensitive ASX Announcement for USL
Current share price for USL : $0.655 -0.105 (-13.82%)+
Announcement
Release
17 Mar 2026 9:12AM
Price at Release
$0.760
Full Release
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Summary
Unico Silver Limited (USL) announced a significant increase in the Mineral Resource Estimate (MRE) for its Joaquin Project, now totaling 167 Moz AgEq, marking a 143% increase since acquisition. This resource includes 123 Moz of silver and 521 koz of gold, with 78% in the Indicated category. The Joaquin Project is a key part of USL's strategy in Santa Cruz, Argentina, supported by extensive drilling and an all-in discovery cost of USD 11c per AgEq ounce. Combined resources at Joaquin and Cerro Leon now total 330 Moz AgEq, enhancing USL's position as a significant player in the silver market. The company is also progressing on its PLUS 150 development strategy, focusing on free-milling resources supporting a maiden Pre-Feasibility Study expected by Q3 2026, which will include technical evaluations for potential conventional open-pit mining operations.
Key Points
  • Unico Silver Limited (USL) announced a significant increase in the Mineral Resource Estimate (MRE) for the Joaquin Project.
  • The Joaquin MRE increased to 167 Moz AgEq, a 143% increase since the project's acquisition.
  • The resource contains 123 Moz of silver and 521 koz of gold, with 78% in the Indicated category.
  • The project is part of USL's broader district-scale strategy in Santa Cruz, Argentina.
  • The MRE is based on 27,723 meters of drilling, with an all-in discovery cost of USD 11c per AgEq ounce.
  • The combined resources at Joaquin and Cerro Leon total 330 Moz AgEq.
  • The company has a PLUS 150 development strategy for free-milling resources totaling 212 Moz AgEq.
  • There is an ongoing Pre-Feasibility Study expected by Q3 2026, focusing on conventional open-pit mining methods.
IMPORTANT NOTE: This information is autogenerated and has not been reviewed for accuracy or completeness. You should refer to the full announcement here for further information.