DRILLING UPDATE - INDEPENDENT EXPERT CONFIRMS EXCITING BASE METAL PROSPECT IN IMC TULLA LICENCE AREA
The directors of IMC Exploration Group Plc (“IMC”) wish to inform shareholders that, following encouraging indications from Drillhole 11-3729-01 in Prospecting Licence Area 3729, Tulla, Co. Clare, an independent expert was engaged by IMC to undertake further investigative work to confirm the view of the company that the results were of a highly significant and encouraging nature. Dr John Kelly of SLR Consulting Ireland Limited (“SLR”), an expert on the characteristics of Irish Base Metal Deposits, was commissioned to provide an independent report on the drill core.
IMC is now pleased to announce the results of this independent review of the drill core and confirm that a copy of the entire report has been uploaded onto the company's website at www.imcexploration.com.
In summary, 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.)”.
Commenting on the report and its findings, Dr Glenn Millar, Managing Director of IMC said:
“This is great news for the company and confirms that significant alteration of the type associated with Silvermines, Lisheen and Galmoy is present in the Tulla area.
As a result of these highly encouraging findings we have decided to immediately increase our drilling activity in the Tulla area in order to further understand this area's exploration potential and confirm the directors’ belief that the Tulla Prospecting Licence area hosts significant base metal mineralisation.
We will now introduce a second drill rig to our exploration programme, with one drill rig entirely focused on this exciting base metal prospect in Tulla, whilst the other drill rig continues to focus on the gold prospects in an area of Co. Wexford where grades of up to 35.05g/t Gold over 0.7m have been recorded”.
The Directors of IMC Exploration Group plc are responsible for the contents of this announcement.
Contact Details:
IMC Exploration Group Plc
Mr. Liam McGrattan
Tel. Ireland: +353 87 2745427
Mr. Hugh Gibney
Tel. Ireland: +353 87 6719332
LHM Casey McGrath
Mr. Con Casey
Tel. Ireland: +353 1 495 9200
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