IMC Exploration Group Plc - Update re. Appraisal Drilling and Sampling

IMC Exploration Group Plc - Update re. Appraisal Drilling and Sampling

PR Newswire

London, November 17

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 13^thOctober 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 8^thSeptember 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, 19^th 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: [phone]/ [phone] / [e-mail]
Brinsley Holman: [phone] / [e-mail]

IMC Exploration Group plc
Kathryn Byrne: [phone]