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