IMC Exploration Group Plc - Drilling Report
PR Newswire
LONDON, United Kingdom, March 21
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
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+353 87 6183024
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IFC Advisory Limited (Financial PR and IR)
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