REG-IMC Exploration Group Plc: Mineral Resource Estimate

IMC ExplorationAnnouncement

11/09/2019 08:00

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”)

JORC-compliant Inferred Mineral Resource Estimate on IMC’s licence area at
Avoca, Co. Wicklow, Ireland (PL 3850)

CSA Global Pty Ltd (CSA Global) has completed a Mineral Resource Estimate
(MRE) for IMC’s Avoca
(http://hsdomapp1/disclose/disclose.nsf/vRelByComp/null) GA1   historic mine
site project located in Co. Wicklow, south-east
(http://hsdomapp1/disclose/disclose.nsf/vRelByComp/null) GA2   Ireland.

The sample density has allowed the MRE to be classified as an Inferred
Resource and is reported in accordance with the JORC Code (2012).  The
classification of the MRE was carried out taking into consideration the
volumes of the spoil heaps, the nature and spacing of the sampling and density
data.  The MRE is presented below.

Inferred Mineral Resource estimate (all tonnages reported with no cut-off
grade applied)

 Spoil Heap                Tonnes (kt)  Cu (%)  Pb (%)  Zn (%)  Au (g/t)  Ag (ppm)  
 Forest of Gold            2            0.57    4.31    0.83    5.2       64        
 Tigroney Lower East       19           0.44    0.68    0.37    0.6       13        
 Tigroney North            158          0.18    0.12    0.04    0.1       3         
 Subtotal (Tigroney East)  178          0.29    0.62    0.20    0.7       11        
 Mt Platt                  852          0.13    0.37    0.12    0.2       7         
 Cronebane                 841          0.13    0.43    0.16    0.4       10        
 TOTAL                     1,871        0.14    0.42    0.14    0.3       9         

Source: CSA Global (2019)

The MRE is based on data from 14 sample pits, dug with an excavator and
reflecting representative vertical intervals throughout the spoils’
heaps.  

Samples were taken from each sample pit sample stockpile and used to calculate
an in-situ bulk density of 1.59t/m(3) (assumed to be a wet bulk density). The
total tonnage of dumps in Tigroney East, Mount Platt and Cronebane was
calculated at 1.871 million tonnes.

An average sample grade for Cu (%), Pb (%), Zn (%), Au (g/t) and Ag (g/t) was
assigned to each spoil heap based upon the sample grades from the relevant
pit(s).

Mineralogical testing is ongoing and results will be reported when they become
available. 

There is further potential to increase the tonnage and grade of the MRE by
conducting further investigations including basal topography surveying as well
as the investigation of other spoil heaps present in the area, particularly at
West Avoca.

IMC is to establish an environmental clean-up operation to remove metals from
the existing mine waste at the project site.

IMC’s Chairman, Eamon O’Brien, commented, “The Mineral Resource Estimate
for our spoils and tailings project in Avoca, Co. Wicklow is of great
significance. There is further potential to increase the tonnage and grade,
not only on this site but also on other spoil heaps within IMCs licence areas.
 The scale of this opportunity at Avoca is transformational for IMC and its
shareholders.  The Mineral Resource Estimate is a significant development and
further validates the Company’s strategy.  Work continues and the Directors
believe this represents an exciting time for the Company and its
shareholders.”

Consent to release the report dated September 2019 “JORC compliant Inferred
Mineral Resource Estimate on IMC’s licence area at Avoca, Co. Wicklow,
Ireland (PL 3850)”, announcing the Mineral Resource, was given by David
Williams, Principal Resource Geologist at CSA Global Pty Ltd.

Eamon P. O’Brien,
Executive Chairman,

Dublin, 10(th) September 2019 

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

REGULATORY ANNOUNCEMENT ENDS.

Contact Details:

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

Graham Atthill-Beck: +44 20 7464 4091 / +44 750 643 4107 / +971 50 856 9408
/ Graham.Atthill-Beck@kbrl.co.uk
Brinsley Holman: +44 20 7464 4098 / Brinsley.Holman@kbrl.co.uk    
Keith, Bayley, Rogers & Co. Limited



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