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IMC Exploration Group Plc - North Wexford Appraisal Update

·3-min read

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