Unico Silver Limited has announced encouraging assay results from its Phase 1 infill drilling program at the La Negra prospect within its Joaquin Project in Santa Cruz, Argentina. Thirteen drill holes totaling 1,484 metres have returned high-grade silver intercepts, confirming both the vertical and lateral continuity of mineralisation. One standout result detailed a 28-metre intercept grading 507 grams-per-tonne silver equivalent, while other high-grade intervals were encountered across multiple holes, highlighting previously under-modeled zones. The drilling program aims to convert the historic 2013 Foreign Estimate into a JORC-compliant Mineral Resource in line with the Company’s PLUS 1501 development strategy. This phase of drilling, which is nearing completion with around 10,000 metres planned by the end of June 2025, is focused on delineating pit-constrained, free-milling silver ounces. Unico Silver’s approach includes both diamond and reverse circulation drilling methods complemented by rigorous quality assurance and quality control protocols. In addition, the Company plans further regional exploration and extension drilling after a short winter shutdown, with more results expected in July to support the expansion of its exploration target. Market observers may see a bullish case given the solid high-grade intercepts and the upgrade potential to a JORC Mineral Resource, both of which align with the company’s broader development strategy. The strong drill results and clear geological continuity could drive increased investor confidence and add substantial value to Unico Silver Limited’s portfolio. However, on the bearish side, the conversion from a historical estimate to a compliant resource remains uncertain, and further exploration is required to mitigate risks associated with potential delays, commodity price fluctuations, and the inherent uncertainties of early-stage mining projects.