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IMC Exploration Group (IMCP) – Update on Exploration Programme

IMCIMC Exploration Group Plc is pleased to announce that, in conjunction with its joint venture partner Koza Limited, it has recently commenced an extensive target generation, mapping and rock sampling programme on its Goldmines River licence PL 3857 in Co. Wicklow, and on licence PL 2551 in Co. Wexford. This work, scheduled to commence in early 2017, is in addition to the previous drilling programme, and is part of our works programme on our five precious metal Licence Areas, and is essential preparatory work for our next phase fully funded drilling programme.

Commenting on this development, IMC Chairman, Liam McGrattan said: “The recently published Geological Survey of Ireland Tellus Survey confirms high levels of gold in streams near the Goldmines River and Avoca regions of Wicklow, areas included in our licences.  The fact that the new data identifies gold values in streams that flow across and along the edges of the Leinster granite, a complex area long thought to be the source for the gold mineralisation in the region encourages us to believe that this comprehensive, extensive and agreed works programme will identify promising drill targets.”

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

Brand Communications
Mr. Alan Green
Tel. +44 (o)7976 431608

IMC Exploration (IMCP) – International Mining Developments Impact Positively on IMC

Global events in recent months have impacted very positively on the mining sector and IMC Exploration (ISDX:IMCP) 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

Brand Communications
Mr. Alan Green
Tel. +44 (o)7976 431608

Gold on Waterford’s coast? – Munster Express

by Michelle Clancy

Rumours that ‘there’s gold in them thar hills’ of County Waterford abounded last week, when it emerged that relatively high levels of the precious metal had been found along Waterford’s ‘gold coast’, from Dungarvan to Stradbally.

Archaeologists have long believed that the south east was once a major source of gold for Celtic jewellery makers.

Now, an ongoing geological survey called Tellus (run by the Geological Survey of Ireland) has revealed higher than expected levels of gold and platinum in streams and rivers across Waterford, Wexford and Wicklow.

Applying modern testing methods to stream samples collected in the 1980s, the survey has identified high gold values in streams in the Dungarvan to Stradbally area, thought to be sourced from 450 million-year-old volcanic rocks in the area. It’s hoped that this new data, along with additional data from samples due to be released later this year, will offer a fresh perspective of Ireland’s natural resources, with the scope for further exploration attracting additional inward investment.

Ireland is largely underexplored for a variety of precious metals and critical raw materials, according to Ray Scanlon, Principal Geologist at the Geological Survey of Ireland’s Tellus Programme.

“The Tellus geochemistry programme, which is underway across the country, continues to reveal fascinating and previously unknown details of Ireland’s natural resources. This type of geological information and understanding is vital not only for economic reasons but also for environmental, health and agricultural planning.”

Tellus aims to have surveyed 50% of the country by the end of 2017 and has plans to complete national surveying in the coming years.
A geochemical sampling survey will be undertaken with a team of agricultural scientists gathering stream samples across the West, Midlands and East over the next two years. The Tellus Programme also includes an airborne survey which will be active in the Waterford region later this spring and Galway later in the year.

In the meantime, anyone thinking of heading to the gold coast for a spot of spanning should take note: you are legally obliged to report to the authorities if you find more than 20 flakes of gold or any nuggets of two grammes or more. Such gold is regarded as belonging to the Stat e and you’d be breaking the law if you kept it!

Full story by Michelle Clancy here

Gorey Guardian – More gold and platinum in county than previously thought

There is more platinum, gold and precious metals in the south east’s streams and rivers than previously believed, with notable levels on the borders of Wexford and Wicklow.

By applying modern testing methods to stream samples collected in the 1980s, the Geological Survey of Ireland’s Tellus Programme has discovered the highest levels of platinum are found mainly in the area to the southeast of the towns of Aughrim and Tinahely.

Rarer than gold, the discovery of platinum is of particular interest as it has never before been analysed in stream sediment from this region. As well as being a premier choice for jewellery, platinum has a significant industrial use in electronics, medical applications and in catalytic converters in cars.

As well as reconfirming high levels of gold in streams near the Goldmines River and Avoca regions of Wicklow, the new data identifies high gold values in streams that flow across and along the edges of the Leinster granite, a complex area long thought to be a source for the gold mineralisation in the region. High gold values in streams have also been identified in County Waterford, in the Dungarvan to Stradbally area, locally known as the ‘Gold Coast’ and is thought to be sourced from 450 million-year-old volcanic rocks in the area.

The recently re-analysed data from the Tellus Survey team also highlights a broad zone of gold in County Wicklow, north of the Sugar Loaf region where only small traces of the precious metal have been found previously. It is hoped that this new data, along with additional data from samples due to be released later this year, will offer a fresh perspective of Ireland’s natural resources with the scope for further exploration attracting additional inward investment.

‘The mining and mineral exploration industry’s contribution to the Irish economy has been considerable over the past five decades,’ said Director of the Geological Survey of Ireland, Koen Verbruggen.

‘The industry is currently suffering from a major global downturn due to low commodity prices, which coupled with a scarcity of recent economically significant discoveries has seen Ireland’s indigenous production of metals retreat with the closure of a number of mines. A core strategy of the Department of Communications, Energy and Natural Resources and that of the Geological Survey of Ireland is to support investment and development of this important industry by producing high-quality openly available geological information to identify new areas for exploration.

‘I am pleased to see the latest Tellus data highlighting new insights, and opening new possible opportunities for investment into our underexplored country,’ he said.

Ray Scanlon, Principal Geologist at the Geological Survey of Ireland’s Tellus Programme, said that the resulting maps detailing the natural variability of precious metals across this region show how Ireland is largely underexplored for a variety of precious metals and critical raw materials.

‘The Tellus geochemistry programme, which is underway across the country, continues to reveal fascinating and previously unknown details of Ireland’s natural resources. This type of geological information and understanding is vital not only for economic reasons but also for environmental, health and agricultural planning.’ 

Tellus aims to have surveyed 50 per cent of the country by the end of 2017 and has plans to complete national surveying in the coming years.

A geochemical sampling survey will be undertaken with a team of agricultural scientists gathering stream samples across the West, Midlands and East over the next two years. The Tellus Programme also includes an airborne survey which will be active in the Waterford region later this spring and Galway later in the year.

The new geochemical data for south east Ireland and all previous phases of the Tellus Survey are available, free of charge, to view and download at www.tellus.ie. The new data was showcased at a major international convention, the Prospectors and Developers Association of Canada (PDAC) in Toronto on March 7.

Link here to full article

IMC Exploration – Geological Survey of Ireland Tellus Survey Reveals High Levels of Gold in streams near the Goldmines River and Avoca regions of County Wicklow.

IMCThe directors of IMC Exploration Group plc (IMCP) note the unprecedented Irish press coverage of a geological survey that has revealed higher than expected levels of gold and platinum in the streams and rivers of Wicklow and Wexford in south east Ireland.

Articles published in recent days in the Irish Times, the Independent, the Journal and several other publications tell how the Geological Survey of Ireland’s (GSI) Tellus programme made the discovery by applying modern testing methods to stream samples collected in the 1980s.

The survey confirms high levels of gold in streams near the Goldmines River and Avoca regions of Wicklow, and the new data identifies high gold values in streams that flow across and along the edges of the Leinster granite.

All five of IMC’s gold prospecting licenses in Wicklow and Wexford are sited centrally in the survey region, and are operated as a Joint Venture agreement with Koza Limited (a subsidiary of Koza Altin Isletmeleri A.S.).

IMC is currently listed on the ISDX market (ticker: IMCP) and is at an advanced stage of seeking a standard listing on the main market of the London Stock Exchange.

Chairman Liam McGrattan commented ‘These encouraging GSI survey results further confirm our own findings for the region.  This report justifies, confirms and validates our geological exploration programme underway with Koza Limited.  We are very excited by this.’

IMC BACKGROUND:

IMC Exploration Group plc (IMC) was incorporated in Ireland in June 2011 with a view to identifying precious and base metal deposits in Ireland

  • IMC holds 15 mineral prospecting licences in Ireland:
  • 5 precious metal licences
  • 10 base metal licences
  • JV agreement commenced in July 2015 between IMC and Koza Gold (a subsidiary of Koza Altin Isletmeleri AS with a current market capitalisation of over US$1 billion) on IMC’s precious metal licences in Wicklow and Wexford
  • IMC is currently listed on the London based ISDX market (Ticker: IMCP)

TELLUS SURVEY REPORT:

Tellus Survey Uncovers Platinum and Gold in south east Leinster:

  • Precious metal platinum identified in numerous stream sediments for the first time in Leinster
  • More gold in Wicklow, Wexford and Waterford than previously known

Applying modern testing methods to stream samples collected in the 1980s, the Geological Survey of Ireland’s Tellus Programme has discovered there is more platinum, gold and precious metals in the streams and rivers of south east of Ireland than previously believed.

  • Stream sediment geochemistry – Gold
  • Stream sediment geochemistry – Platinum

As well as reconfirming high levels of gold in streams near the Goldmines River and Avoca regions of Wicklow, the new data identifies high gold values in streams that flow across and along the edges of the Leinster granite, a complex area long thought to be a source for the gold mineralisation in the region.

High gold values in streams have also been identified in County Waterford.  The recently reanalysed data from the Tellus Survey team also highlights a broad zone of gold in County Wicklow.  It is hoped that this new data, along with additional data from samples due to be released later this year, will offer a fresh perspective of Ireland’s natural resources with the scope for further exploration attracting additional inward investment.

The new geochemical data for south east Ireland and all previous phases of the Tellus Survey are available, free of charge, to view and download at www.tellus.ie. The new data released today will be showcased next week at a major international convention, the Prospectors and Developers Association of Canada (PDAC) in Toronto on the 7th March.

Contact Details:

IMC Exploration Group Plc
Mr. Liam McGrattan
Tel. Ireland: +353 87 2745427

Brand Communications
Mr. Alan Green
Tel. +44 (0)7976 431608

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