Unico Silver Limited · ASX:USL
Unico Silver — Investor Presentation (May 2023)
20 slides from Unico Silver's investor presentation, May 18, 2023
Slide 1: Cerro Leon silver resource grows 84% to 92 million oz
Cerro Leon silver resource grows 84% to 92 million oz Investor Presentation Unico Silver May 2023 ASX:USL Investor Presentation | May 2023 1
Slide 2: Forward looking statements and disclosures
Forward looking statements and disclosures Disclaimer Competent Person Statement The following material is for general information purposes only and is not to be relied This presentation contains information extracted from previous ASX releases which upon for the making of an investment decision. An
Slide 3: Investment Highlights
Investment Highlights 1. MAIDEN INDICATED AND INFERRED MINERAL RESOURCE ESTIMATE FOR CERRO LEON • 16.46Mt at 172gpt AgEq1 (77gpt Ag, 0.65gpt Au, 0.91% Zn and 0.35% Pb) for 92Moz • 62% of resources in the top 80 vertical meters • 42% of resources in oxide category, free milling with good metallurgy 2
Slide 4: Corporate Snapshot
Corporate Snapshot Unico Silver (ASX: USL) 6 Month Share Price CAPITAL STRUCTURE Shares 286M 0.2 0.18 Market Capitalisation3 A$40M 0.16 Options 50.3M 0.14 Share Price Movements 0.12 Performance Shares 2.25M A$/Share 0.1 Cash as of March 2023 A$3.72M 0.08 0.06 Proceeds of placement closed 20/04/2023
Slide 5: Growing silver gold resource in the mining-friendly Santa Cruz Province
Growing silver gold resource in the mining-friendly Santa Cruz Province UNICO SILVER INVESTMENT RATIONALE • Vision to become a globally important pure-play silver development company listed on the ASX CERRO LEON KEY HIGHLIGHTS • Centered 35km from road and electrical infrastructure servicing AngloGo
Slide 6: Commanding landholding in world-class precious metal district
Commanding landholding in world-class precious metal district RECENT CONSOLIDATION OF TWO ADJACENT SILVER AND GOLD DISTRICTS PINGÜINO (100% USL) • 9,985Ha titles • Largest undeveloped vein field in Santa Cruz. Over 100km cumulative strike of outcropping epithermal veins CONSERRAT (80% USL) • 18,308H
Slide 7: Maiden JORC compliant resources for the Cerro Leon project
Maiden JORC compliant resources for the Cerro Leon project4 published May 2023 16.5 Mt @ 172gpt AgEq for 91 Moz 41 Moz Ag, 344koz Au, 332 Mlb Zn, 129 Mlb Pb Zone Category Tonnes (Mt) Ag Eq (g/t) Ag (g/t) Au (g/t) Zn (%) Pb (%) AgEq Moz Ag Moz Au koz Zn Mlb Pb Mlb Near Surface Mineralisation (above 2
Slide 8: 2023 Maiden Resource Estimate (MRE)
2023 Maiden Resource Estimate (MRE) Investor Presentation | May 2023 8
Slide 9: High-grade mineralisation starting from surface, 62% of total MRE in top 80 vertical meters
High-grade mineralisation starting from surface, 62% of total MRE in the top 80 vertical meters Pinguino – MRE tonnes and grade v. depth Conserrat – MRE tonnes and grade v. depth 900,000 900,000 300 300 350,000 350,000 180 180 Tonnes Tonnes Ag Eq Ag Eq Ag Ok Ag Ok 800,000 800,000 160 160 300,000 300
Slide 10: Unico Silver trading at substantially lower valuation relative to peers
Unico Silver is currently trading at a substantially lower valuation relative to comparable global silver explorers/developers Average Enterprise Value per silver equivalent resource ounce of A$1.7 400,000,000 600 AgEq Ounces (Precious Metals) AgEq Ounces (Base Metals only) Inferred grade PM+BM g/t
Slide 11: Cerro Leon ranks well compared to other recent silver resources
Cerro Leon is one of 7 global silver MRE announced in the last 18 months and ranks well compared to other predominantly open pit resources 1000 Bubble size represents Panuco Market capitalization A$M (Mexico) Tonopah (Nevada) Cerro Leon $40M to $1.3B (Argentina) Resource Silver Equivalent Grade (gpt
Slide 12: Excellent Return on Investment – drill meter to resource ounce
Excellent Return on Investment – “drill meter to resource ounce” in line with high value silver developers Company Resource Year MC (A$M) MT GRADE AGEQ Moz Drill meters Ag oz/m drilled New Pacific Metals Silver Sands 2023 585.2 58.9 114 213.9 139,920 1529 AbraSilver Diablillos 2022 214.5 53 127 212.
Slide 13: Pathway to resource upgrade with potential for new vein discoveries
Pathway to resource upgrade with potential for new vein discoveries, resource expansion Mia, Malvina, Florencia, Karina, CSV, Marta C, RESOURCES 12 Marta E, Marta NW, Ivonne, Marta N, El Tranquilo, Marta S RESOURCE DELINEATION Andrea Sur, Emilia, 6 Luna, Savary, Marta W, CSS DRILLING DELINEATION DRI
Slide 14: Levers for future resource growth
Shallow gravel cover, no drilling 7m at 233gpt Ag 5m at 167gpt Ag, 0.15gpt Au ! 3.8m at 56gpt Ag, 5.8% Pb-Zn 3.9m at 43gpt Ag, 4.5gpt Au 11.4m at 81gpt Ag, 0.3gpt Au 5.8% Pb-Zn Mineralised pierce points open at depth or along strike: Levers for future Martha Centro: Martha Noroeste: (P269-08) 11.4m
Slide 15: Conserrat
Conserrat PIECING TOGETHER A NEW DISTRICT TWO ADVANCED DISCOVERIES • Mia and Malvina 21 UNTESTED REGIONAL TARGETS, MULTIPLE ADVANCED PROSPECTS • Malvina: 1.7m at 2451gpt AgEq open at depth • Andrea Sur: 4m at 745gpt AgEq open at depth, along strike • Silvia: 3m at 344gpt AgEq open at depth • Emilia:
Slide 16: Next Steps
Next Steps Achieved In progress Next Steps Cerro Leon Maiden Resource Cerro Leon Drill Planning Cerro Leon Resource Growth • 92Moz AgEq at 172gpt Focus on: Increase Cerro Leon MRE to >150Moz AgEq • 94% increase in tonnes • Low-risk resource extensions • 84% increase in total ounces • Conversion of i
Slide 17: Experienced Board and Management
Experienced Board and Management PETER MULLENS ∙ NON-EXECUTIVE CHAIRPERSON EMILIO BASTIAS ∙ COUNTRY MANAGER Peter is a highly experienced and degree qualified geologist with 30 years’ experience in the minerals Emilio is a lawyer, qualified at the Bar in Argentina, specialising in mining law, includ
Slide 18: Appendix 1: Cerro Leon Mineral Resource Estimate (2023)
Appendix 1: Cerro Leon Mineral Resource Estimate (2023) Zone Category Weathering Tonnes (Mt) Ag Eq (g/t) Ag (g/t) Au (g/t) Zn (%) Pb (%) AgEq Moz Ag Moz Au koz Zn Mlb Pb Mlb Near Surface Mineralisation (above 250 mRL) Indicated Oxidised 1.93 204 143 0.70 0.05 0.26 12.7 8.91 43.3 1.92 10.91 Above 50g
Slide 19: Appendix 2: Peer Group financial and mineral resource information
Appendix 2: Peer Group financial and mineral resource information as of 1 May 2023 fx rate Measured Indicated Inferred Market Cap AUD Measured Measured Indicated Indicated Inferred Inferred Company 28 April Index C/O grade Grade Grade Grade 28 April 2023 Tonnes AgEq (oz) tonnes AgEq (oz) tonnes AgEq
Slide 20: Unico Silver Limited
Unico Silver Limited ASX:USL ABN: 34 116 865 546 Address: Level 4, 100 Albert Road South Melbourne VIC 3205 P: +61 3 9692 7222 F: +61 3 9077 9233 E: info@unicosilver.com.au W: www.unicosilver.com.au Investor Presentation | May 2023 20