Following an initial independent technical evaluation, London-listed Unicorn Mineral Resources has conducted a site visit to assess a potential copper exploration and development project in Namibia.
The visit focused on reviewing tailings dams and waste dumps resulting from over 21 years of historical mining activities.
The project spans two granted exclusive prospecting licenses and includes an old mine along with an associated tailings opportunity.
Unicorn reports that multiple drilling and sampling programs have been conducted over the years on the tailings dam, identifying non-JORC-compliant copper and silver resources.
Similarly, non-JORC-compliant in-situ mineral resources have been reported from historical underground mining activities.
During the site visit, Unicorn’s management team and consultants engaged with key local stakeholders and inspected multiple outcrops and broad copper-bearing veins across several target areas.
These findings suggest that copper mineralization may extend along strike beyond the historical mining zones, indicating further resource potential.
Samples collected from copper-rich outcrops, waste rock, and tailings stockpiles have been sent for analysis at laboratories in Namibia.
The company expects to receive final assay results and certification later this quarter, after which an update will be provided.
Majority and local shareholders have expressed their intent to finalize the sale of a controlling interest to Unicorn, pending the completion of legal, technical, and financial due diligence.
The board is currently engaged in preliminary, non-binding negotiations, with the goal of signing heads of terms in the near future.
Beyond this project, Unicorn’s consultants have identified additional brownfield mining opportunities and advanced exploration projects in the region.
The company views this potential acquisition as a strategic platform for further growth and expansion in Southern Africa.
