IMC Exploration Group plc (IMC) is pleased to announce results from a study by Dr Norman Moles from the University of Brighton undertaken in order to further understand the nature of gold mineralization intersected during recent drilling in Prospecting Licence ("PL") Area 2551, County Wexford, Ireland, suggests multiple sources for gold mineralization in this prospecting licence area.
The form of the gold grains recovered from the Ballygarrett Stream was studied by Dr Moles' team, with more detailed studies using Scanning Electron Miscrosopy (SEM) to follow. The range of sizes and angularity of abundant gold grains recovered in the lower reaches of the Ballygarret Stream suggests a nearby upstream bedrock source of gold-bearing vein type rather than disseminated bedrock gold mineralization. In contrast, grains from an upstream site have a similar size range but are angular to sub-angular, indicating a longer transport distance. In conclusion, gold grains recovered from the Ballygarrett Stream suggest a range of transport distances supporting interpretation that the Ballygarrett Stream appears to cut across multiple sources of gold.
Based on these results, IMC are continuing their focus in the area with further drilling adjacent to the Ballygarrett Stream. Elsewhere in PL Area 2551, sluicing has recovered many placer gold grains from rivers in the Kilmichael area; these will also be studied by SEM.
Dr Glenn Millar commented "This is excellent news as the gold in PL Area 2551 may well be concentrated in local vein pockets rather than being disseminated, so giving us the potential for multiple high grade drill targets."
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
Tel. Ireland: +353 87 2745427
Mr. Hugh Gibney
Tel. Ireland: +353 1 823 0510
Dr. Glenn Millar
Managing Director
Tel. Ireland: +353 86 1714790
LHM Casey McGrath
Mr. Con Casey
Tel. Ireland: +353 1 495 9200
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Kathryn Byrne
Limelight Communications
Tel. Ireland: +353 85 2336033
