International Mining Developments Impact Positively on IMC
08 September 2016 - 6:57PM
ADVFN NewsWire
International Mining
Developments Impact Positively on IMC
IMC Exploration Group Plc
("IMC" or the "Company" or the "Group")
Global events in recent months have impacted very positively on
the mining sector and IMC is in a position to benefit from these
developments. On a macro level, the rising price of gold and zinc
since the beginning of the year is very reassuring but we are also
very mindful of, and encouraged by, the results of an Irish
Government sponsored/instigated geological survey.
In March 2016, the Geological Survey of Ireland (GSI) released
the Tellus Survey, revealing higher than expected values of gold
and platinum in the streams and rivers of Counties Wicklow and
Wexford in south east Ireland. All five of IMC's precious metal
prospecting licences in Wicklow and Wexford are sited centrally in
the survey region, the very licence areas we are exploring with our
joint venture partners, Koza Limited (a subsidiary of the gold
mining major, Koza Altin Isletmeleri AS).
The Tellus Survey further confirms high levels of gold in
streams near the Gold Mine River and Avoca region of Wicklow,
justifying, confirming and validating the current geological
exploration programme underway with Koza Limited.
The company has had several approaches from international mining
companies in relation to its base metal licences. These approaches
have come as a result of a resurgence of interest in the base metal
sector in Ireland, leaving IMC well positioned to take advantage of
this via our 10 base metal licences, through the imminent
implementation of our comprehensive, fully costed and attainable 18
month base metal Work's Programme.
Chairman, Liam McGrattan said:
"Ireland's position as the largest producer of zinc concentrates
in Europe and its rank as the 10th largest producer of zinc
concentrates in the world, IMC is poised to join the list of
companies adding value to this national asset. This is a great time
for gold and base metals and is an exciting time for IMC."
The Directors of the issuer accept responsibility for this
announcement.
Contact Details:
IMC Exploration Group Plc
Mr. Liam McGrattan
Tel. Ireland: +353 87 2745427
Keith Bayley Rogers & Co. Limited
Mr. Hugh Oram
Tel. +44 207 464 4090
8th September 2016
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