Unicorn Mineral Resources Announces Untested Anomalies in 3D Gravity Modelling at Lisheen Project

3D gravity modelling flags untested anomalies near Galmoy at Unicorn’s Lisheen Project

Unicorn Mineral Resources (LSE: UMR) has completed 3D modelling of last year’s gravity survey at its Lisheen Project in Ireland and the results are encouraging. The work highlights multiple density anomalies that have never been drill tested, including a trend on PL754 that runs parallel to the K Zone at the nearby Galmoy mine, which is being re-opened by Shannon Resources and is expected back in action in H1 2026.

For a junior explorer, this is exactly the sort of pre-drilling outcome you want: clear physical signals coincident with the right rocks, on a major mineralised trend, with proven deposits next door. It is not a discovery, but it is a meaningful step forward in target definition.

Quick read: what Unicorn has reported

• 3D gravity modelling identifies several untested density anomalies on PL754, trending NW-SE and paralleling Galmoy’s K Zone.
• Four additional zones along a West-East section show clear anomalous responses at depth that historic drilling has not tested.
• Infill gravity surveying to 100 m x 100 m spacing is planned, with test drilling to follow on the best PL754 targets.
• The project sits on the Rathdowney Trend, immediately north of the historic Lisheen and Galmoy deposits, in classic Waulsortian Reef host rocks.
• The licence block covers 71 km2, with 80% underlain by prospective Waulsortian Reef. Target depths range from 0 to 300 m.

What the gravity data is telling us

Gravity surveys measure subtle changes in rock density. In Ireland’s zinc-lead districts, massive sulphide bodies and alteration halos can produce higher-density responses, so gravity is a useful tool for outlining drill targets under cover.

Unicorn’s unconstrained density model from the inverted gravity data shows:

• A NW-SE axis of density highs on PL754 that parallels Galmoy’s K Zone trend. That structural alignment matters because mineralisation in the district is controlled by these fault trends.
• Four West-East zones with clear anomalous responses at depth that historic drilling missed, offering fresh target panels.

Data quality varies a little by area. The south of PL754 was surveyed on a tighter 100 m x 100 m grid, while the north of PL754 and all of PL4056 used 200 m x 200 m spacing, so targets in those looser areas are “less constrained” and will benefit from infill work.

Why this matters: location, neighbours, and momentum

Lisheen sits on the highly prospective Rathdowney Trend, just along strike and up dip from the Lisheen and Galmoy deposits. Those mines are the proof-of-concept for this geology, having produced substantial tonnages at strong grades.

• Lisheen produced approximately 22 Mt at 12% Zn and 2% Pb.
• Galmoy produced approximately 9 Mt at 13.5% Zn and 2% Pb.

There is also fresh activity in the neighbourhood. Shannon Resources is re-opening Galmoy in H1 2026, Minco Ireland announced a late-2025 intersection at Rapla (about 6 km east) of 16.5 m at 10.99% Zn, 3.12% Pb, 1.39% Cu and 294 g/t Ag, and Group Eleven reported 29.9 m of 15.3% Zn+Pb, 552 g/t Ag and 0.67% Cu at Ballywire, 8 km along strike from Unicorn’s Kilmallock licences. This is a district with momentum.

Geology and target concept in plain English

Unicorn’s block is underlain by dolomitised Waulsortian Reef, the main ore host rock in the Irish Midlands Orefield. The reef dips gently south and is dissected by ENE-WSW and NW-SE Caledonian faults. Crucially, extensions of the main controlling fault systems that localise ore at Lisheen and Galmoy can be traced onto Unicorn’s licences.

The exploration model is for base-of-Waulsortian, stratiform, massive sulphide deposits, typically sitting at or near the base of the reef and focused by faulting. Depth to target ranges from surface to roughly 300 m, which is shallow to moderate for drilling.

Next steps: tightening the data, then the drill bit

Unicorn will run infill gravity on a nominal 100 m x 100 m grid to sharpen up the targets, then proceed to some test drilling on the most interesting anomalies in PL754. Timelines, budgets, and drill metres were not disclosed.

From an investor’s perspective, the infill phase is about prioritisation. Expect the company to home in on the NW-SE trend that mirrors Galmoy’s K Zone and the four deeper West-East anomalies. The goal is to convert geophysical blobs into drill-ready targets with tight collars and clear geological justification.

The positives and the watchouts

Why I view this update positively

• The anomalies are coherent, align with known mineralised trends, and sit in the right rocks. That checks several boxes for prospectivity.
• Untested by historic drilling means genuine new shots on goal rather than re-cycling old holes.
• Regional validation is strong: producing mines next door, a re-start underway, and multiple recent high-grade hits in the district.
• Shallow to moderate target depths (0 to 300 m) keep early drilling costs lower than deep targets.

What tempers enthusiasm

• Gravity is an indirect tool. Density highs can reflect other geology. Only drilling can confirm mineralisation.
• Part of the dataset is on wider 200 m spacing, so some anomalies may shift or dissipate once infill is complete.
• No schedule, cost guidance, or drill metre count was provided. Funding and timing are not disclosed.

Key numbers and facts from the RNS

Licences	PL754 and PL4056
Project area	71 km2
Host geology	Dolomitised Waulsortian Reef (main host in Irish Midlands Orefield)
Prospective coverage	80% of block underlain by Waulsortian Reef
Target type	Base-of-Waulsortian, stratiform, massive sulphide deposits
Target depth	0 to 300 m
Gravity grid spacing	100 m x 100 m (south PL754); 200 m x 200 m (north PL754 and PL4056)
Neighbour production	Lisheen: \~22 Mt at 12% Zn / 2% Pb; Galmoy: \~9 Mt at 13.5% Zn / 2% Pb
Recent nearby intercepts	Rapla: 16.5 m at 10.99% Zn, 3.12% Pb, 1.39% Cu, 294 g/t Ag; Ballywire: 29.9 m at 15.3% Zn+Pb, 552 g/t Ag, 0.67% Cu
Next steps	Infill gravity at 100 m x 100 m; test drilling on PL754 anomalies
Timing/budget	Not disclosed
Competent Person	EurGeol Dave Blaney, B.Sc., M.Sc., P.Geo.

My take for retail investors

This is a solid de-risking move for Unicorn’s Irish portfolio. The gravity modelling narrows the search space and ties targets to the same structural grain as Galmoy, which is exactly where you would want to be. With target depths to 300 m and a neighbour re-starting in H1 2026, the setting is supportive.

The caution is straightforward: anomalies are not ore, and the northern datasets need tightening with infill. The real catalyst will be drill results, and we do not yet have timing. If Unicorn executes the infill efficiently and lays out a focused, modest first-pass drilling programme on PL754, this could evolve into a meaningful discovery effort on the Rathdowney Trend.

Net-net, this update nudges the story forward. Keep an eye out for the infill results and the first batch of proposed drill collars. That is where sentiment will turn from potential to probability.