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

IMC ExplorationAnnouncement

03/12/2019 07:55

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: +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     



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