REG-IMC Exploration Group Plc: Drilling Report

IMC ExplorationAnnouncement

21/03/2024 14:45

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 Reports Drilling Results from Boley Prospect, PL 2551, Co. Wexford,
Ireland

 

 

IMC Exploration Group plc (IMC), the London listed exploration company based
in Ireland, is pleased to announce assay results from a drillhole at its Boley
project on PL 2551, Co. Wexford, Ireland.

 

Highlights

 
* New drillhole 24-2551-04 confirms interpretation of two structural zones, up
to 20 metre (“m”) wide, associated with gold (“Au”) mineralization.
 
* Historic drillhole intercepted 1.5m grading 354g/t Au, interpreted as part
of an upper, near surface zone of mineralization and a lower zone of 2m
grading 1.4g/t Au.
 
* New drillhole 24-2551-01 extends these zones of mineralization by 150m to
the northeast and intersected grades of 1m grading 5.8g/t Au in the upper zone
and 1m grading 1.1g/t Au in the lower zone.
 
* Both the upper and lower zones are open along strike and to depth. 
Geological interpretation suggests more structural zones are present.
 

IMC identified an area of extensive anomalous gold values in panned
concentrates and in 2012 first drilled the Boley target.  This drillhole
intersected two zones of gold mineralization with the upper zone associated
with a bonanza grade quartz boulder with visible gold which assayed 354g/t Au
over a 1.5m interval.  The lower zone contained values of 2m grading 1.4g/t
Au.

 

Drillhole 24-2551-01 was designed to test the interpreted strike extent of the
two zones of gold mineralization 150m to the northeast.  The drillhole
intersected both mineralized zones and returned values of 1m grading 5.8g/t Au
from 90.5 – 91.5m in the upper zone and 1m grading 1.1g/t Au from 139.5 –
140.5m in the lower zone.  Background gold values are present throughout both
zones, which are interpreted as shear zones, and are considered prospective
for orogenic style gold mineralization.  The drillhole reached a depth of
172.5m.

 

The mineralization is present in wide zones of quartz-veined sediments (6m and
20m wide respectively) of which the upper zone is interpreted as the probable
host of the 354g/t Au bonanza grade boulder.  Geological analysis suggests
that there may be several parallel structures in the immediate area, yet
untested, which are open along strike and to depth.

 

Eamon O’Brien, Executive Chairman of IMC, commented:

 

“Detailed geological analysis of the Boley prospect following up on the
bonanza grade quartz boulder drilled in earlier exploration programmes has
enhanced the prospectivity of the area.  The recent drillhole has reinforced
this interpretation and future work will continue to evaluate the shear zones
at Boley to determine the source of the bonanza grade boulder. I look forward
to providing further updates in due course, as appropriate.”

 

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.

The Directors of IMC, after due and careful enquiry, accept responsibility for
the contents of this announcement.

 

Eamon P. O’Brien,
Executive Chairman,
Dublin, 21st March 2024

Enquires

IMC Exploration Group plc

Eamon O’Brien

+353 87 6183024

 

Kathryn Byrne

+353 85 233 6033
 

Keith, Bayley, Rogers & Co. Limited

 

Stephen Clayson

stephen.clayson@kbrl.co.uk

+44 (0)7771 871 847

 

Brinsley Holman

+44 (0)7776 302 228

brinsley.holman@kbrl.co.uk
 

IFC Advisory Limited (Financial PR and IR)

 

Tim Metcalfe

Florence Chandler

+44 (0)203 934 6630



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