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