IMC Exploration Group Plc (IMC) is pleased to provide the following summary and update on its activities.
On 20th September IMC announced very promising gold results from its Wexford licence and, on 11th October announced findings from further drilling in Tulla, Clare, confirming the area's potential to host significant zinc and other base metal mineralization.
Harvest Resources Limited ("Harvest"), a resource exploration company registered in the United Arab Emirates, recently approached IMC with a view to leveraging the geological expertise of both companies by way of joint venture.
Subsequent to this initial approach, a Memorandum of Understanding ("MOU") has been signed with Harvest to facilitate targeted exploration of minerals such as copper, lead, zinc, gold and silver in Afghanistan.
In addition, the MOU also provides for the development of oil and gas opportunities in Afghanistan.
Managing Director of IMC, Dr Glenn Millar commented, "This is a very exciting time for the company with positive gold results in Wexford, as well as favourable geology with the potential to host significant zinc and other base metal mineralization in Tulla. Signing the MOU with international partners Harvest, will enable IMC to broaden its geographical focus and further leverage the expertise and ability of the company's world class geological team."
The Directors of the company accept responsibility for the contents of this announcement.
For further information please contact:
IMC Exploration Group Plc
Mr. Liam McGrattan
Investor Relations
Tel. Ireland: +353 87 2745427
Mr. Hugh Gibney
Executive Chairman
Tel. Ireland: +353 1 823 0510
Dr. Glenn Millar
Managing Director
Tel. Ireland: +353 86 1714790
Kathryn Byrne
Limelight Communications
Tel. Ireland: +353 85 2336033
LHM Casey McGrath
Mr. Con Casey
Tel. Ireland: +353 1 495 9200
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