27 September 2023
Unicorn Mineral Resources Plc
(“Unicorn” or the “Company”)
Unicorn Mineral Resources Plc (LSE:UMR), a mineral exploration and development company based in Ireland and exploring for zinc, lead, copper and silver, is pleased to announce the results of the exploration drilling programme conducted in the summer of 2023 on its flagship project “Kilmallock “, in the “Limerick Basin” in Ireland and situated 20km south of Glencore’s “Pallas Green Lead and Zinc” prospect.
Ø The exploration drilling programme consisted of seven holes for a total of 1,532.7m of coring, designed to extend the mineralised body, assess ground conditions, and define the geological / structural setting.
Ø This phase of drilling has confirmed the presence of prospective basal Waulsortian Reef hosted, Pallas Green style, Black Matrix (BMB) / Polymictic (PMB) breccias that are mineralised with low to medium grade zinc lead sulphides and oxides, UMK-004 intersected 2.8m grading 4.25% Zn / 0.47% Pb / 3.6g/t Ag.
Ø The drilling at the Bulgaden Target UMK-003 => 008 confirmed that the region is structurally complex with NNW striking, enechelon, ramp-relay normal faults with a throw of between 60 – 80m to the east. It also established that oxidation of the basal Waulsortian Reef and the breccia hosted sulphide mineralisation is developing from the north and is more extensive than previously thought.
Ø Drilling at the shallow Ballycullane deposit (UMK-002A) was affected by recovery issues in a technically challenging drilling environment. However, material recovered (including sludge samples) contained unexpectedly high grade Silver assay results, 8.0m at a grade of 59.69g/t Ag, with a peak value of 85g/t Ag.
Ø Previous drilling on the Kilmallock Property has intersected significant, high-grade zinc, lead, and silver mineralisation at a number of zones, including one 3.8m intercept with 14.66% zinc, 4.8% lead and 133.79 g/t silver at a depth of 325m, leading Unicorn continues to believe that a major, undiscovered, mineralising system is located in this region.
Paddy Doherty, Chairman of Unicorn Mineral Resources Plc, commented:
“The recent drilling programme on Unicorn’s Kilmallock property in the Limerick Basin has produced some positive results confirming the ground preparation and alteration is analogous to that seen at the Pallas Green Deposit some 20km to the north. This clearly confirms the area is part of a significant mineralising system and has been interpreted to be located along the northern margin of this system.
The region to the south and southeast is relatively untested by historic drilling and remains highly prospective. In addition, recent drilling by another operator on the Ballywire prospect 10km to the east of Kilmallock has produced some excellent results which are highly encouraging for the southern part of the Limerick Basin.
The exploration programme over the coming months will be designed to develop and refine targeting for the next phase of drilling on this exciting project.”
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).
For further information, please visit www.UnicornMineralResources.com or contact:
Unicorn Mineral Resources Plc
John O’Connor, CFO
Tel: +353 86 259 5123
Novum Securities Limited – Financial Adviser and Broker
David Coffman / George Duxberry
Tel: +44 (0)207 399 9400
About Unicorn Mineral Resources plc:
Unicorn Mineral Resources is an Irish mineral exploration company with a strategic focus on the exploration for economic deposits of “Irish Type” carbonate hosted copper / lead / zinc and silver mineral deposits in the Irish Midlands Orefield. Unicorn have acquired a high-class land package using the latest geological, structural, and mineralogical models to drive the target generation programme. Unicorn has in house experience and expertise to run exploration programmes and explore sole venture licences. Unicorn is dedicated to creating shareholder value and will assess exploration and / or development opportunities going forward including potential joint venture partners.