IMC Exploration Group PLC Regulatory News (IMC)

IMC Exploration Group Plc - Mineral Resource Estimate

PR Newswire

London, September 9

THE INFORMATION CONTAINED WITHIN THIS ANNOUNCEMENT IS DEEMED BY IMC TO CONSTITUTE INSIDE INFORMATION AS STIPULATED UNDER THE MARKET ABUSE REGULATION (EU) NO. 596/2014, AS AMENDED (“MAR”). ON THE PUBLICATION OF THIS ANNOUNCEMENT VIA A REGULATORY INFORMATION SERVICE (“RIS”), THIS INSIDE INFORMATION IS NOW CONSIDERED TO BE IN THE PUBLIC DOMAIN.

IMC EXPLORATION GROUP PLC(“IMC” or the “Company”)

JORC-compliant Inferred Mineral Resource Estimate on IMC’s licence area at Avoca, Co. Wicklow, Ireland (PL 3850)

CSA Global Pty Ltd (CSA Global) has completed a Mineral Resource Estimate (MRE) for IMC’s Avoca[GA1] historic mine site project located in Co. Wicklow, south-east[GA2] Ireland.

The sample density has allowed the MRE to be classified as an Inferred Resource and is reported in accordance with the JORC Code (2012). The classification of the MRE was carried out taking into consideration the volumes of the spoil heaps, the nature and spacing of the sampling and density data. The MRE is presented below.

Inferred Mineral Resource estimate (all tonnages reported with no cut-off grade applied)

Source: CSA Global (2019)

The MRE is based on data from 14 sample pits, dug with an excavator and reflecting representative vertical intervals throughout the spoils’ heaps.

Samples were taken from each sample pit sample stockpile and used to calculate an in-situ bulk density of 1.59t/m3 (assumed to be a wet bulk density). The total tonnage of dumps in Tigroney East, Mount Platt and Cronebane was calculated at 1.871 million tonnes.

An average sample grade for Cu (%), Pb (%), Zn (%), Au (g/t) and Ag (g/t) was assigned to each spoil heap based upon the sample grades from the relevant pit(s).

Mineralogical testing is ongoing and results will be reported when they become available. 

There is further potential to increase the tonnage and grade of the MRE by conducting further investigations including basal topography surveying as well as the investigation of other spoil heaps present in the area, particularly at West Avoca.

IMC is to establish an environmental clean-up operation to remove metals from the existing mine waste at the project site.

IMC’s Chairman, Eamon O’Brien, commented, “The Mineral Resource Estimate for our spoils and tailings project in Avoca, Co. Wicklow is of great significance. There is further potential to increase the tonnage and grade, not only on this site but also on other spoil heaps within IMCs licence areas. The scale of this opportunity at Avoca is transformational for IMC and its shareholders. The Mineral Resource Estimate is a significant development and further validates the Company’s strategy. Work continues and the Directors believe this represents an exciting time for the Company and its shareholders.”

Consent to release the report dated September 2019 “JORC compliant Inferred Mineral Resource Estimate on IMC’s licence area at Avoca, Co. Wicklow, Ireland (PL 3850)”, announcing the Mineral Resource, was given by David Williams, Principal Resource Geologist at CSA Global Pty Ltd.

Eamon P. O’Brien,Executive Chairman,

Dublin, 10th September 2019 

The Directors of IMC, after due and careful enquiry, accept responsibility for the contents of this announcement.

REGULATORY ANNOUNCEMENT ENDS.

Contact Details:

Kathryn Byrne: +353 85 233 6033IMC Exploration Group plc

Graham Atthill-Beck: +44 20 7464 4091 / +44 750 643 4107 / +971 50 856 9408 / Graham.Atthill-Beck@kbrl.co.ukBrinsley Holman: +44 20 7464 4098 / Brinsley.Holman@kbrl.co.uk Keith, Bayley, Rogers & Co. Limited