IMC Exploration Group Plc - North Wexford Appraisal Drilling
London, January 26
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") 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")
Update on gold mineralisation in appraisal drilling at North Wexford
- Pyrite mineralisation present throughout rhyolites
- Potential confirmed along strike and to depth
- Mineralogical and analytical studies underway
IMC Exploration Group plc (IMC), the London-listed gold exploration company based in Ireland, is pleased to report that it has intersected a mineralised acid volcanic horizon at depths up to 50m deeper than historical drilling (reported 19thNovember 2020) during appraisal drilling on its North Wexford gold project. Pyrite mineralisation occurs throughout drill hole 20-1200-01 and the alteration encountered is strongly indicative of a mineralising system. Analytical and mineralogical studies are underway.
In 1986, the only hole ever previously drilled in PL 1200 (GQ1) intersected elevated gold values at depth of c. 30m. Groove sampling of this drill core proved an intercepted grade of 0.5 g/t Au over 18.6m. IMC drill hole 20-1200-01 drilled a similar package of rock types to those in GQ1 with extensive pyrite mineralised rhyolitic horizons interbedded with acidic tuffs and black shales. This package of rock types is highly prospective for a range of mineralisation types including gold.
The acid volcanic package tested by 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 c. 9km of highly prospective rock types in the licence. Furthermore, IMC operates both the adjoining licence to the south-east (PL 1199) which has the strike continuation of the same geology as PL 1200 and the highly prospective licence to the north-west (PL 2551) where IMC reported gold grades of 354 g/t Au over a 1.5m width in drilling at Boley.
Eamon O'Brien commented, "The preliminary drilling information from PL 1200 reinforces the highly prospective geology of IMC's licences in the North Wexford area and supports IMC's strategy of understanding the gold mineralisation with the objective of establishing a gold resource."
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,
Dublin, 28thJanuary 2021
The Directors of IMC, after due and careful enquiry, accept responsibility for the contents of this announcement.
REGULATORY ANNOUNCEMENT ENDS.
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
Keith, Bayley, Rogers & Co. Limited
Kathryn Byrne: +353 85 233 6033
IMC Exploration Group plc