THE INFORMATION CONTAINED WITHIN THIS
ANNOUNCEMENT IS DEEMED BY IMC 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”)
Gold mineralisation confirmed in
appraisal drilling at North Wexford
- Zones of gold mineralisation present throughout rhyolites
- Potential for mineralisation confirmed along strike and to
depth
- Rocks intersected also confirm base metal potential
IMC Exploration Group plc (IMC), the
London-listed gold exploration
company based in Ireland, is
pleased to report that drillhole 20-1200-01 intersected a
47m mineralised acid volcanic horizon
(mainly rhyolites) at depths up to 50m deeper than historical drilling, during
appraisal drilling on its North Wexford gold project. Gold
mineralisation occurs over five closely-spaced intervals (ranging
from 0.9 – 1.4m wide) with a maximum
grade of 0.4 g/t Au over a 1m
interval.
These grades are in line with those
reported previously from historic drill hole GQ1 (reported
19th November 2020; 0.5
g/t Au over 18.6m). The
alteration associated with the rhyolites is extensive and
indicative of a strong mineralising system that is prospective for
both gold and base metals.
The acid volcanic package tested by
both GQ1 and 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 circa 9km of highly
prospective rock types on the licence. Furthermore, IMC
operates both the adjoining licence to the southeast (PL 1199),
which has the strike continuation of the same geology as PL 1200,
and the highly prospective licence to the northwest (PL 2551),
where IMC reported gold grades of 354 g/t Au over a 1.5m width in drilling at Boley.
Chairman Eamon O’Brien commented, “IMC’s drilling
information from PL 1200 confirms the mineralisation potential of
the North Wexford area as indicated in IMC’s 28th
January 2021 announcement. Having now
validated that gold mineralisation is present in the rhyolites,
future exploration will focus along strike, to determine an
exploration vector towards the probable feeder zone of the
mineralisation.”
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, 23rd
February 2021
The Directors of IMC, after due and
careful enquiry, accept responsibility for the contents of this
announcement.
REGULATORY ANNOUNCEMENT ENDS.
Enquiries:
Keith, Bayley, Rogers & Co.
Limited
Graham Atthill-Beck: +44 20 7464
4091/ +44 7506 43 41 07
/ Graham.Atthill-Beck@kbrl.co.uk
Brinsley Holman: +44 20 7464 4098
/ +44 7776 30 22 28 / Brinsley.Holman@kbrl.co.uk
IMC Exploration Group plc
Kathryn Byrne: +353 85 233
6033