Unico Silver (ASX:USL) said assay results from drilling at its Cerro Leon silver-gold project in Argentina confirmed multiple new discoveries and intercepts of high-grade shallow oxide silver mineralization, according to a Monday Australian bourse filing.
The drilling will be extended into an expanded phase 3 program totalling around 6,500 meters, comprising a combination of reverse circulation and diamond drilling, per the filing. It completed 63 diamond drill holes totalling 9,143 meters as part of the phase 2 program.
It will seek to conduct infill drilling at Karina, which lies outside the current mineral resource estimate, and other prospects to achieve indicated resource status.
Significant intercepts encountered during the drilling include 39 meters at 150 grams per tonne grade of silver equivalent from 60.6 meters, as well as 30 meters at 293 g/t grade of silver-equivalent from 92.6 meters.
A significant intercept encountered at the Karina prospect was 7.6 meters at 980 g/t grade of silver-equivalent from 11.4 meters.
Its shares rose over 2% on market close on Monday.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.