THE INFORMATION CONTAINED WITHIN
THIS ANNOUNCEMENT IS DEEMED BY IMC EXPLORATION GROUP PLC TO
CONSTITUTE INSIDE INFORMATION AS STIPULATED UNDER THE MARKET ABUSE
REGULATION (EU) NO. 596/2014 AS AMENDED ("MAR") OR EQUIVALENT,
TRANSITIONAL REGULATIONS IN THE UNITED
KINGDOM. ON THE PUBLICATION OF THIS ANNOUNCEMENT VIA
A REGULATORY INFORMATION SERVICE ("RIS"), THIS INSIDE INFORMATION
IS NOW CONSIDERED TO BE IN THE PUBLIC DOMAIN.
IMC Exploration
Group plc (“IMC” or the “Company”)
Update on gold
mineralisation in appraisal drilling at North Wexford
- Pyrite mineralisation present throughout rhyolites
- Potential confirmed along strike and to depth
- Mineralogical and analytical studies underway
IMC Exploration Group plc (IMC), the
London-listed gold exploration
company based in Ireland, is
pleased to report that it has intersected a mineralised acid
volcanic horizon at depths up to 50m
deeper than historical drilling (reported 19th
November 2020) during appraisal
drilling on its North Wexford gold project. Pyrite
mineralisation occurs throughout drill hole 20-1200-01 and the
alteration encountered is strongly indicative of a mineralising
system. Analytical and mineralogical studies are
underway.
In 1986, the only hole ever
previously drilled in PL 1200 (GQ1) intersected elevated gold
values at depth of c. 30m. Groove sampling of this drill core
proved an intercepted grade of 0.5 g/t Au over 18.6m. IMC drill hole 20-1200-01 drilled a
similar package of rock types to those in GQ1 with extensive pyrite
mineralised rhyolitic horizons interbedded with acidic tuffs and
black shales. This package of rock types is highly
prospective for a range of mineralisation types including gold.
The acid volcanic package tested by
20-1200-01 is one of three similar geological horizons that
traverse PL 1200. Historical geochemical sampling has proved
elevated gold values spatially associated with all three
horizons. In total, there is a strike length of c. 9km
of highly prospective rock types in the licence. Furthermore,
IMC operates both the adjoining licence to the south-east (PL 1199)
which has the strike continuation of the same geology as PL 1200
and the highly prospective licence to the north-west (PL 2551)
where IMC reported gold grades of 354 g/t Au over a 1.5m width in drilling at Boley.
Eamon O’Brien commented, “The
preliminary drilling information from PL 1200 reinforces the highly
prospective geology of IMC’s licences in the North Wexford area and
supports IMC’s strategy of understanding the gold mineralisation
with the objective of establishing a gold resource.”
This release has been approved by
EurGeol Professor Garth Earls PGeo, FSEG, who is an independent
consulting geologist and a Competent Person as described in the
JORC 2012 Reporting Code.
Eamon P. O’Brien,
Executive Chairman,
Dublin, 28th January 2021
The Directors of IMC, after due and
careful enquiry, accept responsibility for the contents of this
announcement.
REGULATORY ANNOUNCEMENT ENDS.
Contact Details:
Graham Atthill-Beck: +44 20 7464
4091/ +44 7506 43 41 07 / Graham.Atthill-Beck@kbrl.co.uk;
Brinsley Holman: +44 20 7464 4098
/ Brinsley.Holman@kbrl.co.uk
Keith, Bayley, Rogers & Co.
Limited
Kathryn Byrne: +353 85 233
6033
IMC Exploration Group plc