REG-IMC Exploration Group Plc: Drilling Report; New Appraisal Programme in N. Wexford

IMC ExplorationAnnouncement

13/10/2020 08:00

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 plc (“IMC” or the “Company”)

Permission granted for appraisal drilling at North Wexford and trial pits
sampling at Avoca, Co. Wicklow

IMC Exploration Group plc (IMC), the London-listed gold exploration company
based in Ireland, is pleased to report that it has been granted permission to
commence appraisal drilling on its North Wexford gold project by the
Exploration and Mining Division of the Department of Communication, Climate
Action and Environment.  Furthermore, approval has been given to commence
trial pit sampling to upgrade IMC’s West Avoca spoils and tailings Mineral
Resource Estimate.

IMC will commence follow-up drilling on a gold-in-soil anomaly in PL 1200,
North Wexford.  Historical work by RioFinEx proved gold mineralisation hosted
by highly altered rocks at a depth of 30m.  Groove sampling of this drill
core proved an intercepted grade of 0.5 g/t Au over 18.6m (weighted average
over 3 to 3.6m sample intervals).  Half core sampling of part of the groove
sampled interval assayed 15m at 0.2 g/t Au (weighted average of 1.5m sample
intervals).  Although all the pertinent data is available for examination and
extrapolation, IMC will commence appraisal drilling in this area to confirm
and expand on the information available in accordance with the JORC Code
(2012).  High gold grades have already been encountered on the adjoining IMC
licence (PL 2551) and the upcoming drilling in PL 1200 aligns with IMC’s
strategy of establishing a gold resource on its North Wexford gold project. 

On 11(th) September 2019, IMC published the “CSA Global IMC Mineral Resource
Estimate” (MRE) on its spoils and tailings project at Avoca, Co. Wicklow
where the gold estimate alone is at circa 20,000 oz.  Furthermore, the
Company has recently identified exploration targets at West Avoca where there
is potential to increase this estimate by up to 4,000 oz. gold within the
Avoca area.  This additional trial pit sampling has now been granted
permission by the Exploration and Mining Division of the Department of
Communication, Climate Action and Environment.

IMC Chairman, Eamon O’Brien, commented, “This is an exciting time for IMC
with appraisal drilling set to commence on our North Wexford gold project. 
Additional trial pit sampling on our spoils and tailings project at Avoca, Co.
Wicklow as outlined above will also be underway, potentially adding to our
already-published MRE. Investors will no doubt already be aware that the price
of gold has recently reached an all-time high of over $2,000 per oz.  

These developments, along with our programme of work with Trinity College
Dublin, will ensure the coming weeks will be an eventful time for IMC and its
shareholders.”

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, 13(th) October 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: +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    

IMC Exploration Group plc
Kathryn Byrne: +353 85 233 6033



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