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Building|Mining|Projects|Proximity|System
Building|Mining|Projects|Proximity|System
building|mining|projects|proximity|system

Australia’s Unico secures final piece of regional consolidation

20th August 2024

By: Mariaan Webb

Creamer Media Senior Deputy Editor Online

     

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Australia-listed Unico Silver has announced a letter of intent to buy two Chile projects from NYSE-listed Pan American Silver in an acquisition that MD Todd Williams says will elevate the company into a unique global peer group.

Unico will acquire the Joaquin and Cerro Puntudo projects, totalling 35 946 ha.

The acquisition of Joaquin, Unico says, forms part of a broader consolidation strategy that has seen the company move to 100% ownership of five projects formerly held by two major mining companies – Pan American Silver and Yamana – and three junior companies, forming the building blocks of a unique camp-scale portfolio within the Santa Cruz precious metal province.

The proximity of Joaquin and Cerro Leon is strategic and adds optionality and robustness to possible future development options, says Unico.

The combined Joaquin and Cerro Puntudo mineral titles cover a single epithermal vein system with measured dimensions of 10 km north-south by 12 km east-west. Upon closing this transaction, Unico will be the first junior company to consolidate 100% ownership of this underexplored silver district.  

Joaquin contains a historical estimate of 16.7-million tonnes at 126 g/t silver equivalent for 73-million ounces of silver-equivalent in the La Negra and La Morocha deposits.

"The acquisition of Joaquin is a watershed moment for Unico Silver and brings into the portfolio a large openpittable silver resource on a permitted mining lease,” says Williams.

He adds that the transaction creates a clear pathway to a 200-million-ounce silver-equivalent resource in a pro-mining province.

Edited by Creamer Media Reporter

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