Unicorn Mineral Resources PLC has identified previously unknown and prospective geological features along the southern margin of the Limerick Basin in Ireland, opening up new prospecting regions for mineral exploration.

The findings come from Unicorn’s recent geophysical survey of its Kilmallock Block, which hosts significant zinc, lead and silver mineralisations.

Unicorn said the discoveries were significant as they helped refine the geological and structural model for the Kilmallock Block. Chief Executive Office Richard O’Shea said the survey and dataset were a ‘big step forward’ for Unicorn, allowing the firm to fast-track and refine its exploration plans.

Anomalous induced polarisation chargeability responses were identified to the south of the Ballycullane high-grade oxide zone and to the north of the Bulgaden massive sulphide zone. The survey also found geophysical anomalies lining up to confirm an east-west striking feature across the surveyed area that may be related to a major controlling fault.

The geophysical survey was conducted by BRG Ltd.

Unicorn shares were untraded on Monday afternoon, last changing hands at 17 pence.

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