IMC Exploration Group Plc - Analytical Results; Goldmines River Licence Area

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”). 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”)

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,
2^nd 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: [phone]

Keith, Bayley, Rogers & Co. Limited
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Brinsley Holman: [phone] / [e-mail]     

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