Results from Trial Pits; West Avoca, Co. Wicklow

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”)

Results from IMC’s Trial Pits at West Avoca, Co. Wicklow, Ireland

Highlights

• Trial pits were excavated proving greater depths than expected at West Avoca, indicating the presence of a larger tonnage of spoils and tailings than was originally estimated in the CSA Global Report (2019).
• The gold assays from the trial pits combined with the expected increase in tonnage implies the existing gold Exploration Target at West Avoca is likely to represent an underestimate. Significantly elevated copper, lead and silver grades are also present.
• Furthermore, IMC will commission an update of the existing West Avoca Exploration Target with the objective of upgrading it to an Inferred Resource.

IMC Exploration Group Plc (IMC), the London-listed gold explorer in Ireland, is pleased to report initial results based upon recent further exploration work carried out on the West Avoca spoil and tailing heaps.

After a series of trial pits excavated across the Ballymurtagh spoil heaps in West Avoca, potential additional tonnage has been discovered as depths of spoil were greater than had previously been estimated.

One sample taken vertically across a metre interval within a spoil heap returned grades of 1.14 g/t Au and 0.27% Cu.  This reinforces the potential for significantly elevated gold grades to occur within the spoil heaps. 

In addition to the spoil heap tonnage, other trial pits also discovered a larger area of mine tailings contained within the north lode pit than had previously been calculated. These tailings also contain significant grades of gold and copper.

IMC will immediately commission studies on the West Avoca Exploration Target with the objective of allowing upgrading to an Inferred Resource category.

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 O’Brien, Chairman of IMC, commented, “This is an important result.  With the existing Exploration Target in West Avoca planned to be upgraded to an Inferred Resource, this will complement the JORC compliant CSA Global Mineral Resource Estimate on East Avoca where an Inferred Resource of circa 20,000 oz gold was previously reported.  IMC will immediately commence the process of upgrading and expanding the 2019 MRE to include these encouraging results in accordance with the JORC Code (2012).”

Dublin, 10^th December 2020

The foregoing announcement has been issued after due and careful enquiry and the Directors of IMC take responsibility for the content.

REGULATORY ANNOUNCEMENT ENDS.

Enquiries :

Keith, Bayley, Rogers & Co. Limited
Graham Atthill-Beck: [phone] / [phone] /  [e-mail]  
Brinsley Holman: [phone] /  [e-mail]  

IMC Exploration Group plc
Kathryn Byrne: [phone]