3 ASX Silver and Gold Stocks Surge Up to 16% on Drilling Wins and Leadership Moves

Highlights:

• A silver developer found new high-grade zones about one kilometre from its processing plant, including 1.7 metres grading 1,269 g/t silver equivalent.

• A gold-copper developer confirmed high-grade lodes in the first year of its mine plan, with first underground ore targeted for the second quarter of 2027.

• A silver-gold explorer added a new chief financial officer and a head of corporate development as it moves toward development.

Precious metals developers made sharp gains after a trio of company updates. These covered fresh drilling results, mine construction progress and an executive team shake-up. Each of the three ASX-listed names rose by more than 12%.

Stocks in Focus

• Andean Silver Limited (ASX: ASL) is currently trading at AU$1.650.

• Medallion Metals Limited (ASX: MM8) is currently trading at AU$0.435.

• Unico Silver Limited (ASX: USL) is currently trading at AU$0.610.

Andean Silver: New Shoots Beside the Plant

In its announcement of 9 November 2026, Andean Silver reported results from about 11,000 metres of drilling at its Cerro Bayo project in Chile. Drilling at the Dagny prospect found new hangingwall veins, including 1.6 metres at 1,102 g/t silver equivalent. Maiden drilling at the Temer 4 vein has now outlined mineralisation over 350 metres in length and 100 metres in depth. The company holds about AU$70.5 million in cash to fund further drilling and feasibility work, and its resource currently stands at 20 million tonnes at 211 g/t silver equivalent.

Medallion Metals: Gem Drilling Backs the Mine Plan

On 2 November 2026, Medallion Metals released final infill results from 22 holes drilled across 3,093 metres at the Gem deposit in Western Australia. Standout hits included 2 metres at 21.3 g/t gold and 3 metres at 17.8 g/t gold, and the results broadly confirmed existing lode models. Construction is also on track. The box-cut at the Ravensthorpe project is 55% excavated, underground development is due to begin in November 2026, and a 9,000-metre resource drilling program is about to start.

Unico Silver: Leadership Gets a Refresh

Unico Silver’s announcement of 30 October 2026 named Jim Kouvoussis as Chief Financial Officer and Will Lyon, a geologist with 15 years’ experience, as Head of Corporate Development. The company is advancing its Joaquin and Cerro Leon projects in Argentina. The board is also searching for more independent non-executive directors following a resignation in August. Revised director pay takes effect on 15 November 2026, lifting the chair’s fee to AU$150,000 from AU$120,000.

Outro

Drilling success, construction progress and stronger management teams are the kinds of milestones that can lift sentiment in the resources sector. This article is general information only and not financial advice.

Note: All data presented is based on information available at the time of writing.

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