Unico Silver and Iltani Resources report significant mining project developments

Unico Silver has announced major progress for its Joaquin Silver-Gold Project in Argentina’s Santa Cruz province. The company secured surface rights for approximately 10,172 hectares through a US$3.5 million cash payment and share issuance, a move described as a key de-risking milestone. Unico also executed an option to acquire the Cerro La Mata exploration properties to consolidate the Joaquin vein field. Following a successful $60 million institutional placement, the company’s cash balance stands at $100.2 million, intended to fund development through the completion of Pre-Feasibility and Definitive Feasibility Studies.

In Australia, Iltani Resources reported high-grade silver, zinc, and indium intersections at its Orient Project in north Queensland. Drilling results included multiple intersections exceeding 1,000 silver-equivalent grade-metres. The company is also testing X-ray transmission ore-sorting technology, which successfully upgraded silver grades from 130g/t to 265g/t in high-grade samples. Iltani completed a $4.6 million placement to support ongoing exploration at the site, which holds an existing mineral resource estimate of 62.5 million tonnes.