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ABUSE REGULATION (EU) NO. 596/2014, AS AMENDED (“MAR”). ON THE
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INFORMATION SERVICE (“RIS”), THIS INSIDE INFORMATION IS NOW
CONSIDERED TO BE IN THE PUBLIC DOMAIN.
IMC EXPLORATION
GROUP PLC
(“IMC” or the
“Company”)
IMC Exploration
Group plc Confirms Records of Gold in Historical Sampling
Analytical results received from
IMCs 2019 exploration programme in the Goldmines River licence in
County Wicklow (PL 3857) have
reinforced gold values obtained in historical sampling.
Analyses have confirmed gold with values ranging up to 0.4 g/t Au
in a selection of samples from prospecting and drilling.
IMC has compiled existing
information from PL 3857 to focus exploration for bedrock gold
mineralisation in the Goldmines River area. Historical
records indicate bedrock results of up to 2.8 g/t Au.
Earlier this year IMC prospected in
the vicinity of former mine workings in the south of the licence
area and encountered gossanous quartz vein material assaying up to
0.4 g/t Au with levels of associated elements leading to an
inference that the mineralisation could be related to igneous
intrusions.
Follow-up drilling encountered trace
levels of gold contained in wall rock associated with the old
workings. This is potentially significant as, in one drill
hole intersection, the wall rock is a highly sheared siliceous tuff
containing 10% magnetite over a 6m
interval and implies that fluids associated with gold
mineralisation may have been widespread.
Furthermore, a moderately sorted,
‘washed-in’, coarse-grained sand was intersected in the old
workings. Analyses of the sand contained elevated levels of
silver (up to 12.1 g/t Ag), tungsten (0.4% W) and nickel.
These elemental associations raise the possibility that the
‘washed-in’ sand is ‘sampling’ a range of mineralisation within PL
3857 and may be reflecting a multi-element mineralising
system.
Regional mapping has identified
extensive zones of propylitic alteration as well as chlorite
sericite alteration. This alteration is supported by the
presence of gold mineralised float. Chairman Eamon O’Brien commented ‘We are delighted to
report records of gold in one of our historical samples in our
Goldmines River Licence area. These positive results bode
well for our imminent sample testing on this licence area.
The results further justify the extensive drilling programme just
completed and the ongoing works’ programme underway, which includes
analysis of the drill results. These findings are in addition to
our flagship spoils and tailings project in Avoca Co. Wicklow,
where a JORC Code (2012) Mineral Resource Estimate has been
completed.’
Eamon P. O’Brien,
Chairman,
2nd December 2019
This RIS release has been approved by
Eur Geol Professor Garth Earls,
PGeo, FSEG, who is an independent consulting geologist and a
Competent Person as defined in the JORC 2012 reporting code. The
Directors of IMC, after due and careful enquiry, accept
responsibility for the contents of this announcement.
REGULATORY ANNOUNCEMENT ENDS.
Enquiries:
IMC Exploration Group plc
Kathryn Byrne: +353 85 233 6033
Keith, Bayley, Rogers & Co. Limited
Graham Atthill-Beck: +44 20 7464
4091 / +971 50 856 9408 / Graham.Atthill-Beck@kbrl.co.uk
Brinsley Holman: +44 20 7464 4098
/ Brinsley.Holman@kbrl.co.uk