2023/09/19
Unicorn Mineral Resources Plc
(“Unicorn” or the “Company”)
Unicorn Mineral Resources Plc (LSE:UMR), a mineral exploration and development company based in Ireland exploring for Zinc, Lead, Copper and Silver with its main focus at present being the “Limerick Basin” in Ireland, will make the following statement at its Annual General Meeting later today.
“As the Company announced in July, in its audited results, visual interpretation of the initial core samples from the drilling at its flagship Kilmallock project indicated a major fault zone running approximately North- South and dipping steeply to the East. This led to a revision of the drill programme to confirm the geological model. Core samples from four of the holes that intersected mineralisation / alteration have been sent to the analytical laboratory for testing and we expect to have the final results back by the end of September.
Until we have all the results from the assays and completed our quality control checks, the Company is not in a position to give any definitive information on what the drilling indicates or the grade of any mineralisation discovered. However, a visual inspection of the cores does indicate mineralisation, which looks to be analogous to that seen at the Pallas Green system. The evidence from our drilling confirms there is structural / geological complexity that indicates that whilst the mineralising system at Kilmallock remains highly prospective, our understanding and modelling must continue to develop and evolve. It is also interesting to note the recent announcement by Group Eleven Resources Corporation, which is quoted on the Toronto Stock Exchange (TSXV: ZNG), of highly significant drill results from their Ballywire exploration project, which is located approximately 8km along strike to the east of the Kilmallock project and in the same geological environment.
The Board are sufficiently encouraged by the initial analysis to be planning an orientation survey, to take place in October and November, to the South and South-East of the current drilling. However, the final decision to proceed with this remains subject to the forthcoming assay results. Looking further to the future, and subject to the assay results and the raising of the necessary additional capital, the proposed orientation survey would be followed by a larger survey which will be used to help target a new drilling programme for Q2 2024.”
This announcement contains information which, prior to its disclosure, was inside information as stipulated under Regulation 11 of the Market Abuse (Amendment) (EU Exit) Regulations 2019/310 (as amended).
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For further information, please visit www.UnicornMineralResources.com or contact:
Unicorn Mineral Resources Plc
Richard O’Shea, CEO
Tel: +353 87 2560397
Email: ros@umr.ie
John O’Connor, CFO
Tel: +353 86 259 5123
Email: John.OConnor@UnicornMineralResources.com
Novum Securities Limited – Financial Adviser and Broker
David Coffman / George Duxberry
Colin Rowbury
Tel: +44 (0)207 399 9400