Unico Silver has reported another round of strong assay results from its Joaquin project in Argentina, extending high-grade gold-silver mineralisation beyond the company’s March 2026 resource estimate. The update, covering 75 additional drill holes for 9,563 metres, lifts total reported drilling since September 2025 to 222 holes for 31,980 metres, as the 330 million ounce silver-equivalent project heads toward a maiden prefeasibility study.
Breccia Puntudo delivers the standout hits
The best results came from the emerging Breccia Puntudo trend, where the company reported its highest-grade intercept to date, reinforcing the zone’s potential as a source of high-grade feed for the planned PFS. Earlier drilling there had already returned intercepts exceeding 1,300 grams per tonne silver-equivalent, and the latest holes build on that same structure. Step-out and extensional drilling at the La Negra SE and La Morocha SE zones also returned wide intervals of oxide mineralisation, confirming continuity at depth and along strike. Full details are set out in the company’s ASX announcement.
Building the case for development
Since consolidating full ownership of Joaquin, Unico Silver has run one of the more active drill programs among ASX-listed silver explorers, systematically extending zones to support both resource growth and mine planning. With the exploration program now largely complete, focus is shifting to PFS workstreams, and management has flagged a maiden study before the end of 2026. The oxide mineralisation at La Negra SE and La Morocha SE supports a resource base that can be processed relatively simply, an important factor for any project working toward a construction decision.
What it means for ASX silver investors
The news lands against a backdrop of tight silver fundamentals. Silver has traded above US$65 an ounce in recent sessions, and the market is on track for a sixth consecutive annual supply deficit, according to the Silver Institute, as industrial demand from solar and electronics manufacturing continues to outpace mine supply. For explorers like Unico Silver, that backdrop makes each resource extension more valuable, since it adds ounces into a market already drawing down inventories. Investors watching the broader ASX silver sector will have the Joaquin PFS on their radar later this year as the next potential re-rating catalyst.
This article is general information and market commentary only. It does not take into account your personal objectives, financial situation or needs, and it is not financial product advice. Commodity and mining equities carry a high degree of risk, including price volatility and the potential loss of capital. Consider seeking advice from a licensed financial adviser and read our full Disclaimer before making any investment decision.