IMC Exploration Group Plc :Economic Gold Potent...

IMC Exploration Group PLC

("IMC" or the "Company")

Following its recently awarded Avoca Prospecting Licences (PL 3849 and PL 3850) covering 73kmsq in the vicinity of the former Avoca Mine, IMC is pleased to announce a positive outcome of a target review completed by independent consultant PGeo Dr W.A. Sheppard.  These PLs contain near-mine opportunities for  economic gold  extraction and also lead-zinc mineralization.

In the northeast of the area at Kilmacoo, Dr Sheppard has confirmed the reporting of very significant previous drill intersections including:

19.8m @ 5.03g/t Au in drill hole KG01
10.0 m @ 12.95g/t Au in drill hole KG08
10.2 m @ 3.31g/t Au in drill hole KG12

Base metal massive sulphide drill intersections include:

8.3m @ 10.1% Zn, 5.73% Pb, 0.48% Cu and 284g/t Ag in drill hole KG08
4.15m @ 15.91% Zn, 7.47% Pb, 0.75% Cu and 64g/t Ag in drill hole KG11

Dr Sheppard concludes that there remains significant potential for exploration success within the Kilmacoo area, particularly to the southwest of the previous intersections.  In making this conclusion, he has drawn on his intimate knowledge of the Avoca Mine geology and exploration history. 

IMC will now focus on drilling the south western target area, and currently is identifying suitable drill targets as part of the first phase of exploration at Kilmacoo in Avoca.

Dr Glenn Millar, Managing Director IMC, commented:
"At Kilmacoo, on our Avoca licence areas, 15,000 ozs of inferred gold have already been identified.  IMC is confident that our focus on exploration on this, and our nearby gold licence areas, will realise the full potential of these resources".
Dr Sheppard has over 25 years of international experience in gold and base metal deposits and exploration.  He previously completed a geological Ph.D on the Avoca Mine and has many years exploration experience in southeast Ireland. 

General information on the Company and the Group

IMC Exploration Group Plc has secured full rights to 18 licences for base metal exploration in the IrishBaseMetalProvince and 5 licences for gold exploration in Wicklow/Wexford.

 

 

The directors of the issuer accept responsibility for this announcement.

 

Contact Details:

IMC Exploration Group Plc

Mr. Liam McGrattan

Tel. Ireland: [phone]

 

Mr. Hugh Gibney

Tel. Ireland: [phone]

 

William Albert Securities Limited

Mr. Albene Mendy

Tel.  [phone]

[e-mail]

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Source: IMC Exploration Group Plc via Thomson Reuters ONE

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