Unico Silver (ASX:USL) confirmed a broad and shallow zone of oxide silver-gold mineralization over an 850-meter strike and 175-meter vertical extent at the Joaquin project in Argentina, according to a Wednesday filing with the Australian bourse.

Assays from infill and extensional drilling at the La Negra SE prospect include 107 meters at 165 grams per tonne silver equivalent and 81 meters at 107 g/t silver equivalent, with true thickness ranging from 15 meters to 75 meters, indicating bulk open pit mining potential, the filing said.

Infill drilling at La Negra SE is nearing completion with eight holes remaining, per the filing.

Shares rose nearly 10% in morning trade on Wednesday and earlier reached an all-time high.