Unico Silver acquires La Mata estancia for US$3.5M

• Unico Silver signed a binding agreement to purchase a 100% interest in the La Mata estancia.
• The company's share price increased following the release of the acquisition details.
• The transaction aims to secure permanent ownership of land required for the Joaquin Project infrastructure.

Unico Silver (ASX:USL) executed a binding agreement to acquire the La Mata estancia for an initial US$3.5 million.

This transaction replaces a 2017 mining and access agreement that was scheduled to expire in June 2034.

“Securing ownership of the La Mata estancia represents a significant de-risking milestone for the development of the Joaquin Silver Gold Project,” said Unico Silver Managing Director Todd Williams.

The transaction secures approximately 10,172 hectares of strategic freehold land hosting mineral resources, proposed processing facilities, and haul roads.

Following the announcement, the Unico Silver share price was up at $0.63.

The company stated that the initial cash payment was funded entirely from its March quarter cash reserves of $62.7 million.

The acquired footprint is intended by the company to underpin its long-term development strategy and future pre-feasibility study milestones.