- Four drill holes are being drilled to assess the extent and continuity of Cu, Au, Pb, Zn mineralization along strike from the historic Avoca mine
- Historical mineralized intercepts in the West Avoca area include 10m grading 1.1% Cu and 9m grading 10.3% Zn and 4.8% Pb
- IMC has reported JORC compliant figures of c. 20,000ozs of gold, 2.6k tonnes of copper and 7.8k tonnes of lead from mine spoils and tailings to the northeast of the planned drilling (8th September 2020)
- IMC plans that the drill programme will allow an independent resource calculation to be undertaken in addition to that already in place for the spoils and tailings project
IMC Exploration Group plc (IMC), the London listed gold exploration company based
in Ireland, is pleased to announce the start of a 1,000m drilling programme at its West
Avoca property on PL 3850, Co. Wicklow, Ireland.
The Avoca Mine is estimated to have contained 16 million tonnes of 0.6% copper which
was exported as a concentrate that contained ‘payable grades of gold and silver’
(Williams et al., 1986). In addition, in situ zinc and lead mineralization is present at
West Avoca over a minimum strike length of c. 300m.
When the Avoca mine ceased operation in 1982 (due mainly to the low price of copper
prevailing at that time), significant amounts of ore were left in place. With the copper
price recently at an all-time high, IMC has reassessed historical records along strike
to the southwest from the Avoca mine, and interprets there is a 1.2km minimum strike
length that has either been only partially tested or else has specific targets remaining
to be drill tested.
At the north-eastern end of the 1.2km strike length outlined by IMC, historical drilling
encountered 13.3m grading 3.7% Zn 1.8% Pb and 5.3m grading 1.9% Cu. At the
southwestern end, historical assays include 5.8m grading 0.5% Cu with 0.9m grading
0.5 g/t Au. Widely spaced drillholes within the 1.2km strike extent have assayed 10mgrading 1.1% Cu and 9.0m grading 10.25% Zn and 4.78% Pb. Gold grades of up to 0.4
g/t Au over 4.5m have been recorded and represent a highly positive ‘credit’ when
taken in consideration with the high copper and zinc grades.
In the West Avoca area, zinc-lead mineralization overlies copper-gold mineralization.
Much of the historical drilling has not tested the deeper (c. 200m depth) copper-gold
mineralization. This programme is planned to test the down dip extent of the zinc-
lead mineralization and assess the mostly untested underlying copper-gold
mineralization.
Eamon O’Brien Chairman commented ‘This drill programme is designed to validate
and extend zones of mineralization encountered in historical exploration which left
unmined zones of mineralization. The substantive historical intercepts and strike
length identified, allied with this planned drilling, will allow IMC to move towards a
bedrock resource calculation to complement existing JORC compliant spoils and
tailings calculations. With copper prices recently reaching an all-time high, climate
change initiatives to the fore and copper a vital component to drive the green
economy, IMC will be part of this new green future with its copper project in Avoca.’
This release has been approved by EurGeol Professor Garth Earls PGeo, FSEG, who
is an independent consulting geologist and a Competent Person as described in the
JORC 2012 reporting code.
2) Further to announcement of 15th April 2021 re. proposed acquisition
Further to the regulatory announcement issued on 15th April 2021 concerning its
proposed acquisition of the Karaberd Mine in Lori Mar, Armenia, the Company
confirms that the due diligence process referred to in that announcement continues
and that, as and when such should be required, (a) further announcement(s) shall be
made.
Eamon P. O’Brien,
Executive Chairman,
Dublin, 17th August 2021
The Directors of IMC, after due and careful enquiry, accept responsibility for the
contents of this announcement.
REGULATORY ANNOUNCEMENT ENDS.
Contact Details:
IMC Exploration Group plc
Kathryn Byrne: +353 85 233 6033
Keith, Bayley, Rogers & Co. Limited
Graham Atthill-Beck: +44 7506 43 41 07; This email address is being protected from spambots. You need JavaScript enabled to view it.;
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