Unico Silver Limited · ASX:USL
Unico Silver — Noosa Mining Conference 2023
22 slides from Unico Silver's conference presentation, Nov 15, 2023
Slide 1: An emerging silver company with growing resources in Santa Cruz, Argentina
For personal use only An emerging silver company with growing resources in the Santa Cruz province of Argentina NOOSA MINING CONFERENCE Investor Presentation Unico Silver November 2023 ASX:USL Investor Presentation | November 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 (72gpt Ag, 0.65gpt Au, 1.2% Zn+Pb) for 92Moz • 50% of resources in the top 80 vertical meters • 42% of resources in oxide category, free milling with good metallurgy For personal
Slide 4: World Silver Supply and Demand
World Silver Supply and Demand 2022 SUPPLY AND DEMAND3 For personal use only Recycling Industrial Jewelry SILVER IS BOTH A MONETARY ASSET AND 18% 45% & Silverware 25% AN INDUSTRIAL METAL THAT IS CRITICAL FOR THE GREEN ENERGY TRANSITION Silver Silver Supply Demand STRONG LONG TERM FUNDAMENTALS 1,005
Slide 5: Corporate Snapshot
Corporate Snapshot Unico Silver (ASX: USL) 6 Month Share Price CAPITAL STRUCTURE 0.18 Shares 300M For personal use only 0.16 Market Capitalisation4 A$30M 0.14 Options 50.3M Share Price Movements 0.12 0.1 A$/Share Cash A$8.2M (31 September 2023) 0.08 0.06 4 Market capitalisation at 10 cents per share
Slide 6: 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 For personal use only • Vision to become a globally important pure-play silver development company listed on the ASX CERRO LEON KEY HIGHLIGHTS • 35km from AngloGold Ashanti’s Cerro Vanguardia mi
Slide 7: 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 For personal use only PINGÜINO (100% USL) • 9,985Ha titles • Largest undeveloped vein field in Santa Cruz. Over 100km cumulative strike of outcropping epithermal veins CONSERR
Slide 8: Maiden JORC compliant resources for the Cerro Leon project
Maiden JORC compliant resources for the Cerro Leon project5 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 9: Marta Este long section
Marta Este long section For personal use only Investor Presentation | November 2023 9
Slide 10: 2023 Maiden Resource Estimate (MRE)
2023 Maiden Resource Estimate (MRE) For personal use only Investor Presentation | November 2023 10
Slide 11: High-grade mineralisation starting from surface
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 For personal use only Tonnes Tonnes Ag Eq Ag Eq Ag Ok Ag Ok 800,000 800,0
Slide 12: Trading at a substantially lower valuation relative to comparable silver explorers
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$1.2 400,000,000 600 AgEq Ounces (Precious Metals) AgEq Ounces (Base Metals only) Inferred grade PM+BM g/t
Slide 13: Cerro Leon ranks well compared to other global silver MREs
Cerro Leon is one of 7 global silver MRE announced in the last 18 months and ranks well compared to other predominantly open pit resources 1000 Bubble size represents For personal use only Panuco Market capitalization A$M (Mexico) Tonopah (Nevada) Cerro Leon $30M to $1B (Argentina) Resource Silver E
Slide 14: Excellent Return on Investment – drill meter to resource ounce
Excellent Return on Investment – “drill meter to resource ounce” in line with high value silver developers MC (A$M) MT AGEQ Moz Ag oz/m drilled For personal use only Company Resource Year GRADE Drill meters New Pacific Metals Silver Sands 2023 585 58.9 114 213 139,920 1529 AbraSilver Diablillos 2022
Slide 15: 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 For personal use only Marta E, Marta NW, Ivonne, Marta N, El Tranquilo, Marta S RESOURCE DELINEATION Andrea Sur, Emilia, 6 Luna, Savary, Marta W, CSS DR
Slide 16: Mineralised pierce points open at depth or along strike
Shallow gravel cover, no drilling 7m at 233gpt Ag 5m at 167gpt Ag, 0.15gpt Au For personal use only ! 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 Marta Centro: Marta Noroes
Slide 17: Conserrat: Piecing together a new district
Conserrat PIECING TOGETHER A NEW DISTRICT TWO ADVANCED DISCOVERIES For personal use only • 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 o
Slide 18: Next Steps
Next Steps Achieved In progress Next Steps For personal use only 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 ou
Slide 19: Experienced Board and Management
Experienced Board and Management PETER MULLENS ∙ NON-EXECUTIVE CHAIRPERSON JOSÉ BORDOGNA ∙ NON-EXECUTIVE DIRECTOR Peter is a highly experienced and degree qualified geologist with 30 years’ experience in the minerals Mr. Bordogna is a highly experienced accountant and is the CFO of Austral Gold Limi
Slide 20: 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 For perso
Slide 21: Appendix 2: Peer Group financial and mineral resource information
Appendix 2: Peer Group financial and mineral resource information as of 9 November 2023 Measured Indicated Inferred fx rate Market Cap A$M Measured Measured Indicated Indicated Inferred Inferred Company Index C/O grade Grade Grade Grade 9 Nov 2023 9 Nov 2023 Tonnes AgEq (oz) tonnes AgEq (oz) tonnes
Slide 22: Unico Silver Limited
For personal use only 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 | November 2023 22