Unico Silver (ASX:USL) said it plans to transition from an explorer to a developer, focusing on free-milling silver ounces at the Cerro Leon and Joaquin silver-gold districts in Argentina, according to a Friday Australian bourse filing.
Five regional prospects are prioritized for exploration at the Joaquin project, per the filing. A phase one 10,000-meter diamond drilling program at the project will continue until the end of June.
A phase three diamond and reverse circulation drilling program is almost completed at the Cerro Leon project, with final assays expected shortly.
The company expects to deliver updated mineral resource estimates for both projects in the third quarter. After this, detailed geotechnical studies and pit optimization will form the basis of a maiden scoping study.
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