How to hide an area of a sprite

I am trying to dynamically hide an area of a sprite by a collider which overlays the sprite, with these details:

  • The hidden area gets the same shape as the overlaying collider;
  • The hidden area follows the overlaying collider position;
  • The main camera projection is orthographic.

This illustration may explain this better:

Is there a proper solution to realize this?

Thank you in advance.

I think this could be of some help:

http://wiki.unity3d.com/index.php?title=DepthMask