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"). 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 Public Limited Company
Update on
appraisal drilling at North Wexford and West Avoca sampling
IMC Exploration Group plc (IMC), the
London-listed gold exploration
company based in Ireland, is
pleased to provide an update on its current drilling at its North
Wexford gold project and its West Avoca spoils’ and tailings’
project.
IMC is continuing follow-up work on
the appraisal drilling that was based on a gold-in-soil anomaly on
its North Wexford gold project. Historical work had
encountered an intercepted grade of 0.5 g/t Au over 18.6m, as was announced on 13th
October 2020 under the headline
“Drilling Report; New Appraisal Programme in N. Wexford” informing
the market of the permitting of appraisal drilling on the North
Wexford licence area. IMC targeted its appraisal drilling to
intersect the mineralised zone at greater depth than the historical
drilling and encountered disseminated and vein pyrite
mineralisation and alteration indicative of a strong mineralising
system. Logging and sampling of the core are ongoing. This
new data confirms and expands on that outlined previously, and can
be reported in accordance with the JORC Code (2012).
Twelve trial pits were excavated at
West Avoca and sampling is now complete. This is designed to
facilitate the upgrade of this Exploration Target to an Inferred
Resource. Initial work indicates confirmation of the extra
tonnage previously identified (RIS announcement of 8th
September 2020) and additional
tailings’ tonnage discovered during this trial pitting phase. Assay
results are expected shortly.
This new information will complement
the “CSA Global IMC Mineral Resource Estimate” on IMC’s spoils and
tailings project at East Avoca, Co.
Wicklow, where the Inferred Resource alone is circa 20,000
oz gold.
IMC Chairman, Eamon O’Brien, commented, “We are gratified to
be receiving positive indications from our appraisal drilling on
our North Wexford gold project. The drilling has encountered
mineralisation and alteration indicative of a strong mineralising
system. Furthermore, the initial indications from our trial
pit sampling on the spoils’ and tailings’ project in West Avoca are
highly encouraging.”
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,
19th November 2020
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
/
Brinsley.Holman@kbrl.co.uk
IMC Exploration Group plc
Kathryn Byrne: +353 85 233 6033