IMC’s Wexford exploration potential:

• IMC was awarded two additional licenses PL1200 and PL 1199 adjacent to PL 2551, where IMC had previously encountered Bonanza grade gold discovered during IMC 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). Notable drill intercepts at PL 2551 of 0.72m @ 10g/t Au; 1.3m @ 3.81 g/t Au; 1.2m @8.3 g/t Au and 5m @ 2.4 g/t Au.  IMC believes that the two new licences should significantly enhance the Company’s North Wexford gold project.    
• In our February 2018 Competent Person’s report, the author, SLR, stated that in their opinion IMC’s work has significantly upgraded the gold potential of the licence. It is considered that there is strong support for the presence of a zone of major gold mineralization trending NE to ENE through the townlands of Boley, Ballygarret and Kilmichael.

IMC currently holds 6 prospecting licences on the East coast of Ireland in Co. Wexford (PL 2551, PL 1200 & PL 1199) and Co. Wicklow (PL 3850, PL 3849 & PL 3857). The SLR Competent Person’s Report (March 2016) confirms the exploration activities on these licences and selected findings below:

Bonanza grade gold discovered during IMC 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).
Notable drill intercepts at PL 2551 of 0.72m @ 10g/t Au; 1.3m @ 3.81 g/t Au; 1.2m @8.3 g/t Au and 5m @ 2.4 g/t Au.
Co. Wickow licences include the former Avoca Copper mine and highlights of previous exploration on these licences include drill intersections of 8.3m @ 10.1% Zn, 5.7% Pb, 0.48% Cu 284 g/t Ag and 10m @ 12.95 g/t Au.

Following the establishment of IMC’s collaboration with the Raw Materials Research Group at Trinity College Dublin, the Company is now working with them on petrographic and microanalytical work on samples from IMC drill-holes targeting the gold-rich Kilmacoo zone. This Trinity College Dublin research group is led by Dr. Sean McClenaghan and Dr. Thomas Riegler.

Milner and McArdle (1992) reported that drilling at the gold-rich Kilmacoo zone at the north-east end of the Avoca Mine property intersected 19 metres of quartz veined schist grading 2.88 g/t Au and 16.6 g/t Ag. The site was further explored by Riofinex and, although no resource figures were published by Riofinex, Milner and McArdle (1992) stated that a (non-compliant) resource of up to 500,000t at up to 2 g/t Au could be present over a 125 metre strike length, equivalent to over 35,000 ozs of gold. More recently, further drilling on the property has been carried out by IMC.