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IMC Exploration Group (IMCP)

IMC

 

 

 

IMCJune5

The above is historical data that may not be up to date or accurate and, in particular, may not reflect any subsequent trade cancellations that may have occurred. Information should not be relied upon as authoritative or taken in substitution for the exercise of your own commercial judgement

 

IMC Exploration Group plc (IMC) is listed on the ISDX Growth Market. The company is focused on acquiring and exploring prospecting licence areas which they believe to have high potential for natural resources.

IMC comprises a team of geologists with extensive and wide-ranging experience working in mineral exploration in Ireland and throughout the world. The team includes geologists with over 140 combined years working in the Irish Midlands and in particular working on the nature of the Irish Base Metal deposits. The vast experience and knowledge held by the board of IMC together with the generation of new exploration models and techniques has resulted in the forward moving IMC exploration program. IMC has already had encouraging results from both base metal and precious metal exploration licence areas during the first full year of operation.

Over the last three years the Irish Government awarded IMC twenty one mineral prospecting licences, three gold and eighteen base metal licences. IMC is continually reviewing and acquiring new mineral exploration licences which they consider to have exploration potential as and when they become available.

A recent survey by the Geological Survey of Ireland’s (GSI) Tellus programme has revealed higher than expected levels of gold and platinum in the streams and rivers of Wicklow and Wexford in south east Ireland. The 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.).

TellusIrelandSurv

IMC Exploration is also actively seeking joint venture opportunities globally to broaden its geographical focus and further leverage the expertise and ability of the company’s world class geological team.

IMC’s Gold Prospecting Licences.

Arklow map

  • 5 prospecting licences on the East coast of Ireland in Co. Wexford and Co. Wicklow (PL 2551, PL 3850, PL3849, PL 3857 & PL 2239).
  • Ongoing exploration and drilling programme, drilling 16 holes and surface prospecting and sampling activities on the precious metal licence areas. This culminated in the following significant results:
  • Bonanza’ grade gold discovered during drilling at Boley (PL 2551): 1.5 m grading 354 g/t within a 13.5 m interval averaging 3.5 g/t Au (applying 20 g/t top cut)
  • 4.50m interval at a deeper level intersected base metal and associated precious metal values, including 1.50m at 0.70% Pb, 2.24% Zn, 7.9g/t Ag and 0.18g/t Au. Further significant grade intersections including 5m@2.4 g/t Au.
  • Surface samples in County Wexford yielded results of up to 76.8g/t Au.
  • Kilmacoo, which was identified by Riofinex (subsidiary of Rio Tinto) in 1980s as having a resource of at least 300,000t at 1.5g/t Au.

Wexford Overview (PL 2551) and priority targets

Boley

Wexford overview

  • Mineralized in weathered zone including grades of 354g/t and 5m at 1g/t Au in bedrock.
  • Mineralized float returned gold values up to 8 g/t.
  • Stream sediments contained 3130, 2530 and 1490 ppb Au.

Knockbrandon

  • Drilling intersected 0.25m@9.64 g/t Au.
  • Shallow soil anomalies follow an ENE trend.

Kilmichael

  • Surface quartz vein sample returned 18.24 g/t Au.
  • 295 g/t Au returned for mineralized float.
  • Drilling intersections of 0.7m@35 g/t Au and 1.05m@3.09g/t Au.

Ballyowen-Ballygarrett

  • 935g/t Au returned from a mineralized boulder.
  • Drilling intersections of 0.7m@10 g/t Au and 1.15m@1.37g/t Au.
  • Fine gold noted in pan concentrates.

 

IMC’s Base Metal Prospecting Licences

IMC Exploration’s 10 base metal prospecting licences are grouped into two areas situated within the world class Irish Base Metal Province (PL 3729, PL 3644, PL 3550, PL 3806, PL 3668, PL 2103, PL 3460 & PL 3644).
  • This province hosts a number of economic Zn/Pb deposits including the Navan and Lisheen deposits, together with the recently discovered Kilbricken and Pallas Green deposits.
  • PL 3729 (Tulla) has shown features texturally similar to, and characteristic of, alteration associated with Irish base-metal deposits such as Silvermines, Lisheen and Galmoy.
  • Ireland is the largest producer of zinc concentrates in Europe and ranks as the 10th largest producer of zinc concentrates in the world, with no state participation and excellent infrastructure.
  • Since 1960, 14 significant (resource >1Mt) zinc-lead deposits have been discovered, including the world class orebody at Navan (>100Mt).

West Midlands Block

base metals map

  • The Limerick Licences lie along strike from the intersection of the “Navan – Silvermines Trend” with the “Limerick Trend” along which the deposits of Pallas Green and Kilbricken are situated.
  • Intensive alteration similar to that associated with “Irish Type” deposits has been observed in outcrop on the Shannon Licence.
  • The Tulla Licence sits on an ENE striking mineralized structural trend that includes the Kilbricken deposit.
  • Breccias and alteration similar to those observed at the Navan, Tynagh, Silvermines, Lisheen and Galmoy deposits have been recorded in previous drilling on the Nenagh Licences.
  • Alteration, mineralized surface float and mineralized drill intersections have been recorded from the Ballinasloe Licences on the northern side of the Tynagh Basin.

Tulla Area

base metals map

  • Prospecting Licence Area 3729, Tulla, Co. Clare.
  • Dr John Kelly of SLR Consulting Ireland Limited (“SLR”), an independent expert on the characteristics of Irish Base Metal Deposits was commissioned to undertake  further investigative work.
  • Dr Kelly reported that “The drillhole intersected a number of interesting features including breccias, interpreted to be hydrothermal in origin with clasts containing replacive pyrite noted, together with green argillite bands having an altered appearance at the base of the Waulsortian Limestone”.
  • He further confirmed that “Features such as these are texturally similar to and characteristic of alteration associated with some Irish base of Waulsortian base-metal deposits (e.g. Silvermines, Lisheen, Galmoy etc.)”.
  • As a result of Dr Kelly’s conclusions IMC has a fully costed  works programme in place.

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