IMC announces the implementation of its work’s programme on its base metal licence area in the highly prospective South West Ireland. The comprehensive exploration programme consists of geochemistry, geophysics and drilling.
IMC holds numerous licences between the Tynagh and Silveriness deposits within this Irish Base Metal Province. These licences are highly prospective, lying proximal to the intersection of the ‘Navan-Silvermines Trend’ and ‘Limerick Trend’, the latter which hosts the deposits at Pallas Green and Kilbricken.
Since the opening of the Tynagh mine in Co. Galway, Ireland has become a significant producer of base metals ranking third in Europe and fourteenth in the world for zinc. IMC also holds licences close to Tynagh.
Liam McGrattan, Chairman of IMC said ‘The zinc price soared in 2016 and many experts are predicting that 2017 will bring more of the same. A Senior Analyst on Zinc Markets at Wood Mackenzie is predicting an average zinc price of $3,200 per tonne. The Analyst sees the metal hitting $4,000 per tonne midway through next year. The implementation of the works programme, concentrating on licence areas with previously indicated zinc deposits, makes absolute sense from a financial, strategic and asset enhancement point and represents a great opportunity to unlock significant value for IMC’s shareholders.’
IMC Exploration Group PLC
Tel. +353 872745427
Keith Bayley Rogers & Co. Limited
Tel: +44 207 464 4090
Tel. +44 7976 431608