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An update from E2 Metals Ltd. ( (AU:USL) ) is now available.
Unico Silver reported a transformative March 2026 quarter marked by the delivery of a maiden JORC 2012 Mineral Resource Estimate at its Joaquin project, outlining 45.3 million tonnes at 115 grams per tonne silver equivalent for 167 million ounces and lifting combined Joaquin and Cerro Leon resources to 330 million ounces silver equivalent. Management says this resource scale, including more than 200 million ounces of near-surface, free-milling oxide mineralisation, underpins a Phase 1 development strategy and strengthens the company’s positioning as a leading silver developer in Santa Cruz.
The quarter also featured strong drilling results from 56 holes across Joaquin, with high-grade intercepts at Breccia Puntudo defining a new mineralised corridor and mineralisation at La Negra SE and La Morocha SE remaining open at depth and along strike, pointing to further resource growth potential. Unico reinforced its development push by restructuring its board, implementing a long-term incentive framework, securing an OTCQB listing to broaden North American investor access, and ending the period well funded with $62.7 million in cash and equivalents, which collectively support its progression toward a pre-feasibility study and potential project development.
The most recent analyst rating on (AU:USL) stock is a Buy with a A$1.85 price target. To see the full list of analyst forecasts on E2 Metals Ltd. stock, see the AU:USL Stock Forecast page.
More about E2 Metals Ltd.
Unico Silver Ltd is a pure-play silver developer with a significant portfolio of exploration properties in Santa Cruz province, Argentina, a region known for large epithermal gold and silver deposits. Its flagship Joaquin and Cerro Leon projects, located near AngloGold Ashanti’s Cerro Vanguardia mine, target large-scale, near-surface silver-equivalent resources with a focus on scalable district development.
Average Trading Volume: 4,635,233
Technical Sentiment Signal: Buy
Current Market Cap: A$447.4M
Learn more about USL stock on TipRanks’ Stock Analysis page.