TIDMUMR
RNS Number : 2881G
Unicorn Mineral Resources plc
14 November 2022
14 November 2022
Unicorn Mineral Resources plc
("Unicorn" or "the Company")
New prospective geological features at Kilmallock
Unicorn Mineral Resources Plc. identifies previously unknown and
prospective geological features from a recent geophysical survey at
its' Kilmallock Block of licences along the southern margin of the
Limerick Basin in Ireland.
Unicorn Mineral Resources Plc. (LSE: UMR) is pleased to announce
that preliminary analysis of new data acquired by a recently
completed geophysical survey (Induced Polarisation and Gravity) has
yielded significant results identifying previously unknown
geological features that; (i) open up new prospective regions and
(ii) refine the geological and structural model for the Kilmallock
Block.
Highlights:
-- Anomalous Induced Polarisation Chargeability responses
identified to the south of the Ballycullane high grade oxide zone
and to the north of the Bulgaden massive sulphide zone.
-- A series of IP resistivity anomalies with associated gravity
features have been delineated in the region to the south of the
Bulgaden massive sulphide body. The geophysical anomalies line up
to confirm an east-west striking feature that may be related to a
major controlling fault.
The Kilmallock Block (Figure 1) is located along the southern
margin of the Limerick basin, straddling the southwestern extension
of the Rathdowney Trend, and hosting significant zinc / lead /
silver mineralisation at the Bulgaden and Ballycullane zones. It
lies approximately 10km along strike, to the west, of Group
Eleven's new intersection at Ballywire (6.9m of 15.4% Zn+Pb, 6(th)
Sept 2022) and approximately 15km south of Glencore's Pallas Green
Deposit (45.6mt 8% Zn+Pb).
Ballywire
Figure 1: The Prospecting Licence disposition and mineral
occurrences in the Limerick Basin
"To have completed this geophysical survey and acquired a
high-quality data set over the Bulgaden and Ballycullane
mineralised zones is a big step forward for Unicorn Mineral
Resources," stated Richard O'Shea, CEO. "We are excited to now use
this information to fast-track and refine our plans for what should
be an exciting exploration program in the near to medium term for
this project."
Geophysical Survey:
The recent geophysical survey was carried out by BRG Ltd and
consisted of a series of traverses of Induced Polarisation and
Gravity surveying across the known mineralised zones and
Ballycullane and Bulgaden. A total of 9 line km of Pole-Dipole
Induced Polarisation was surveyed along 4 lines and 211 gravity
stations were acquired during this phase of work.
Survey Details:
-- Induced Polarisation - Pole Dipole Array, with a dipole
length of 100m and 6 separations. Data was obtained using an Iris
Instruments Multichannel Receiver (ElrecPro) and Transmitter
(VIP4000) powered by a 1kVa Hyundai generator, using stainless
steel electrodes and non-polarising copper sulphide pots.
-- Gravity - Gravity measurements were recorded using a LaCoste
& Romberg Model G Gravity meter (G483). A base station was set
up to the west of Kilmallock Town and base station readings were
measured at a minimum of 3 times daily (morning, mid-day, evening)
so that instrument and diurnal drift could be calculated and
removed from the data. The stations were accurately surveyed using
a Trimble r10 receiver blue tooth connected to a Trimble TDC600
controller (RTK GPS accurate to 5-15mm)
Four lines of detailed gravity and Pole-Dipole IP/Resistivity
were completed on the Kilmallock Block, Prospecting Licences 1949
and 3249 . The survey was designed to cover the known mineralised
zones at Ballycullane (an oxide zone located to the north of the
western line) and Bulgaden (a sulphide zone in the centre of the
group of 3 lines to the east) (Figure 2).
Figure 2: Location of geophysical traverses across the Bulgaden
and Ballycullane Zones
The pseudosections showing the chargeability and resistivity
responses for lines 1 & 3 are presented as Figure 3. The
resistivity data clearly shows a series of pronounced breaks and
sharp contacts that are interpreted as significant fault zones.
Given the well-established connection between "Irish Type" deposits
and faulting which controls the emplacement and distribution of
mineralisation the delineation of potential faults is considered to
be a positive outcome.
The chargeability data defines a number of anomalously high
chargeable responses proximal to areas where the presence of
mineralisation has been established. The anomalously high
chargeability responses at depth are considered by Unicorn Mineral
Resources Plc. to be encouraging and worthy of further
investigation.
Figure 3: Induced Polarisation Pseudosections - Line I
(Ballycullane) and Line 3 (Bulgaden)
The data acquired by these surveys will be used to characterise
the geological setting of the Ballycullane and Bulgaden region,
allowing Unicorn to continue to develop and improve the structural
/ geological models of this area, effectively targeting the next
phases of work.
Qualified Person:
Technical information in this news release has been approved by
EurGeol, Graham Reid, P. Geo, a 'Competent Person' as defined under
the PERC (Pan European Reporting Code) Reporting Standard.
This announcement contains inside information for the purposes
of Article 7 of the Market Abuse Regulation (EU) 596/2014 as it
forms part of UK domestic law by virtue of the European Union
(Withdrawal) Act 2018 ("MAR"), and is disclosed in accordance with
the Company's obligations under Article 17 of MAR.
-- ENDS --
For additional information please 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
Website: http://unicornmineralresources.com/
Novum Securities Limited - Financial Adviser and Broker
David Coffman / George Duxberry
Colin Rowbury
Tel: +44 (0)207 399 9400
Additional information about the Company is available at
www.unicornmineralresources.com.
About Unicorn Mineral Resources Plc.
Unicorn Mineral Resources Plc. (LSE: UMR) is a mineral
exploration company focused on zinc and lead exploration in
Ireland. The Company's exploration strategy allows it to leverage
new geological models and geophysical technology to systematically
rethink key aspects of the Irish Midlands Orefield. The Company's
two key projects in Ireland include: the Kilmallock Block located
in the Limerick Basin where recent exploration is discovering
exciting new mineralised zinc/lead occurrences, and the Lisheen
Block, which is located next to two of Ireland's largest zinc
mines, namely Lisheen and Galmoy, now worked out. The Company's
team includes accomplished mining professionals with direct
experience in finding mines, building companies, and exploring for
Irish zinc deposits.
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END
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(END) Dow Jones Newswires
November 14, 2022 04:16 ET (09:16 GMT)
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