Unicorn Mineral Resources PLC on Friday touted the strength of its Irish portfolio, after receiving permission to drill on its Kilmallock licence within the Limerick Basin.

Unicorn Mineral Resources is an Irish mineral exploration company, focused on exploration for carbonate-hosted copper, lead, zinc, and silver mineral deposits in the Irish Midlands ore field. Shares in the company rose 22% to 7.00 pence each in London on Friday morning.

The company told investors on Friday that the Geoscience Regulation Office of the Department of Environment, Climate & Communications in Ireland has confirmed drilling may proceed on the Kilmallock licence, following the submission and review of Environmental Screening assessments.

Following this confirmation, Unicorn is now in discussions with drilling contractors and hopes to start drilling in the next few weeks. This phase of work will consist of an initial six-hole drilling programme, which is expected to take approximately 12 weeks to complete.

‘I believe we have a very prospective portfolio, particularly the Kilmallock property in the Limerick Basin, and I am delighted that we are in a position to commence a drilling program. The property has had very positive results from previous drilling and is located just 20km south of the Pallas Green project owned and operated by Glencore,’ said Chief Executive Officer Richard O’Shea.

‘In addition, drilling by other operators on adjacent properties over the last two years has produced some highly significant results, which is encouraging for the Limerick Basin in general. I look forward to an active exploration programme and some good news for shareholders over the coming years.’

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