REG - Unicorn Mineral Res. - AGM Statement

Unicorn Mineral Resources Public CoAnnouncement

19/09/2023 07:00

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RNS Number : 8208M  Unicorn Mineral Resources plc  19 September 2023

19 September 2023

Unicorn Mineral Resources Plc

("Unicorn" or the "Company")

AGM Statement

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).

- ENDS -

For further information, please visit www.UnicornMineralResources.com
(http://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

 

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