Unicorn Mineral Resources plc Expansion of Company’s Exploration Strategy

RNS Number : 3884I

Unicorn Mineral Resources plc

02 April 2024

 

Unicorn Mineral Resources

("Unicorn" or "the company")

2 April 2024

 

Expansion of Company's Exploration Strategy

 

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 that the Board of Directors has unanimously supported a proposal by Executive Director, Jason Brewer, to expand the Company's focus to include advanced and near-term production zinc, lead, copper and silver projects located in East and Southern Africa.

At the time of Mr Brewer's appointment in December 2023, it was noted that he brought a wealth of experience and contacts across the mining industry in general and in Africa in particular, thus providing the Company with access to new opportunities to expand and enhance the Company's portfolio of mineral rights and licences.

In addition to the Company's continuing exploration plans and activities at its wholly owned Kilmallock and Lisheen Projects in the Irish Midlands Orefield, the Company's executive management team has been conducting initial technical and legal due diligence review work on a select number of what it considers to be high-value base metal exploration and development projects located in East and Southern Africa.

The Board believes that targeted investments in these, or similar, mine development and production opportunities, which are considered to demonstrate an ability to be advanced through to production in a relatively short time frame, could be capable of significant enhancements to shareholder value.

Patrick Doherty, Chairman Unicorn Mineral Resources, said:

"I am excited about what this expanded focus on new project opportunities in Africa will bring to Unicorn and its shareholders.

The style of base metal mineralisation that we have been exploring for in our various Irish Projects, has strong analogies to that found in many high-grade copper, lead and zinc projects located in East and Southern Africa. And with that in mind, I believe we have the necessary experience to both properly review and assess such projects and with the experience of our African-based Executive Director, Jason Brewer, be able to successfully advance them towards production and bring value into the Company and to our shareholders.

I look forward to providing further updates, as we progress our due diligence reviews and potential project acquisition and investments."

 

The Directors of Unicorn are responsible for the contents of this announcement.

 

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: [phone] Email: [e-mail]	Novum Securities Limited - Financial Adviser and Broker David Coffman / George Duxberry Colin Rowbury Tel: [phone]
Gathoni Muchai Investments Faith Kinyanjui Mumbi [e-mail]

 

 

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