IMC Imc Exploration Group Plc

 
TIDMIMC 
 
THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF ARTICLE 7 OF 
REGULATION (EU) NO. 596/2014 OF THE EUROPEAN PARLIAMENT AND THE COUNCIL OF 16 
APRIL 2014 ON MARKET ABUSE AS IT FORMS PART OF RETAINED EU LAW AS DEFINED IN 
THE EUROPEAN UNION (WITHDRAWAL) ACT 2018 (THE "MARKET ABUSE REGULATION"). UPON 
THE PUBLICATION OF THIS ANNOUNCEMENT THE INSIDE INFORMATION IS NOW CONSIDERED 
TO BE IN THE PUBLIC DOMAIN. 
 
                           IMC EXPLORATION GROUP PLC 
 
                           ("IMC" or the "Company") 
 
                   Drilling Update; West Avoca, Co. Wicklow 
 
IMC Intersects Zinc, Lead and Copper Mineralisation in First Drillhole at West 
Avoca 
 
  * The initial drillhole, 21-3850-01, has encountered four zones of massive 
    and semi-massive sulphide.  Over 75m of drill core is being split for 
    assay. 
 
  * Three further drill holes are planned to assess the extent and continuity 
    of Cu, Au, Zn, Pb mineralisation along strike from the historic Avoca mine. 
 
  * Historical mineralised intercepts in the West Avoca area include 10m 
    grading 1.1% Cu and 9m grading 10.3% Zn and 4.8% Pb. 
  * IMC plans that the drill programme will allow an independent resource 
    calculation to be undertaken. in addition to that already in place for the 
    spoils' and tailings' project. 
 
IMC Exploration Group plc (IMC), the London-listed exploration company based in 
Ireland, is pleased to announce the completion of its first drillhole in a 
1,000m drilling programme at its West Avoca property on PL 3850, Co. Wicklow, 
Ireland. 
 
Drill hole 21-3850-01 has extended the down dip extent of mineralisation and 
has encountered zinc-lead and copper-gold mineralization as interpreted. 
 
A total of four massive and semi-massive sulphide zones were encountered 
between depths of 159m and 226m representing individual heavily mineralised 
intervals of 1.85, 5.3, 5.0 and 4.9m respectively.  The upper three zones are 
zinc dominant and the lower zone copper dominant.  Over 75m of drill core has 
been split and sent to ALS Laboratories in Co. Galway for analyses. 
 
Drill hole 21-3850-01 represents a down dip step out of 40m from the nearest 
historical drillhole which assayed 9m grading 10.3% Zn and 4.8% Pb.  The 
(upper) zinc-lead mineralized horizon now has an extrapolated minimum dip 
extent of 75m (supported by three drillholes) and remains open both up and down 
dip and along strike to the southwest. 
 
Many previous drillholes in this part of West Avoca had not drilled deep enough 
to test presence of a copper-gold zone underlying the zinc-lead zone.  The 4.9m 
(lower) copper zone intersected in 21-3850-01 confirms the copper potential of 
the West Avoca area. 
 
Background 
 
The Avoca Mine is estimated to have contained 16 million tonnes of 0.6% copper 
which was exported as a concentrate that contained 'payable grades of gold and 
silver' (Williams et al., 1986).  In addition, in situ zinc and lead 
mineralisation is present at West Avoca over a minimum strike length of c. 
300m. 
 
When the Avoca mine ceased operation in 1982 (owing mainly to the low price of 
copper prevailing at that time) significant amounts of ore were left in place. 
With the copper price recently at an all-time high, IMC has reassessed 
historical records along strike to the southwest from the Avoca mine, and 
interprets there to be a 1.2 km minimum strike length that has either been only 
partially tested or else has specific targets remaining to be drill tested. 
 
At the north-eastern end of the 1.2 km strike length outlined by IMC, 
historical drilling encountered 13.3m grading 3.7% Zn 1.8% Pb and 5.3m grading 
1.9% Cu.  At the southwestern end, historical assays include 5.8m grading 0.5% 
Cu with 0.9m grading 0.5 g/t Au.  Widely-spaced drillholes within the 1.2km 
strike extent have assayed 10m grading 1.1% Cu and 9.0m grading 10.25% Zn and 
4.78% Pb.  Gold grades of up to 0.4 g/t Au over 4.5m have been recorded and 
represent a highly positive 'credit' when taken in consideration with the high 
copper and zinc grades. 
 
In the West Avoca area, zinc-lead mineralisation overlies copper-gold 
mineralisation.  Much of the historical drilling has not tested the deeper (c. 
200m depth) copper-gold mineralisation.  This programme is planned to test the 
down dip extent of the zinc-lead mineralisation and assess the mostly untested 
underlying copper-gold mineralisation. 
 
IMC has reported JORC-compliant figures of c. 20,000 ozs of gold, 2.6k tonnes 
of copper and 7.8k tonnes of lead from mine spoils and tailings to the 
northeast of the planned drilling (8th September 2020). 
 
Eamon O'Brien, Chairman, commented: 
 
'The first drill hole in the 1,000m drill programme has validated and extended 
zones of mineralisation encountered in historical exploration which tested part 
of the unmined zones of mineralisation.  It has confirmed the geological 
interpretation and I look forward to reporting grades in the near future. 
 
The substantive historical intercepts and strike length identified, allied with 
this planned drilling, will allow IMC to move towards a bedrock resource 
calculation to complement existing JORC-compliant spoils' and tailings' 
calculations.  With copper prices recently reaching an all-time high, climate 
change initiatives to the fore and copper a vital component to drive the green 
economy, IMC will be part of this new green future with its copper project in 
Avoca.' 
 
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 P. O'Brien, 
Executive Chairman, 
Dublin, 6th October 2021 
 
The Directors of IMC, after due and careful enquiry, accept responsibility for 
the contents of this announcement. 
 
REGULATORY ANNOUNCEMENT ENDS. 
 
Contact Details: 
 
Keith, Bayley, Rogers & Co. Limited 
Graham Atthill-Beck: +44 7506 43 41 07 / Graham.Atthill-Beck@kbrl.co.uk / 
blackpearladvisers@gmail.com 
Brinsley Holman: +44 20 7464 4098 / Brinsley.Holman@kbrl.co.uk 
 
IMC Exploration Group plc 
Kathryn Byrne: +353 85 233 6033 
 
 
 
END 
 
 

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