Development on North Wexford Gold Project PL 1200 gives IMC immediate capacity to accelerate its exploration programme
IMC Exploration Group plc (IMC) is pleased to announce positive developments on its North Wexford gold project. An initial review of historical exploration on PL 1200 in Co. Wexford has commenced. PL 1200 is one of a group of three licences held by IMC that are underlain by the mineralised rhyolitic volcanic rocks of South East Leinster.
IMC Update Exploration Target for West Avoca Spoils
Highlights
Placing of New and Treasury Shares
The Board of IMC is pleased to announce that the Company has raised £267,500 (two hundred and sixty-seven thousand five hundred pounds Sterling) before expenses by way of an oversubscribed placing (the “Placing”) of 26,750,000 (twenty six million seven hundred and fifty thousand) new ordinary shares of €0.001 each ("Share") in the Company at a price of 1p per Share (one penny Sterling) for cash (the “Placing Shares”), conditional only upon admission of the new Placing Shares to the Official List of the FCA and to trading on the regulated market of the London Stock Exchange (“Admission”) of the new Placing Shares. Alongside each Placing Share will be issued a warrant to subscribe for one further Share at a price of 2 p (two pence Sterling) per Share, exercisable for one year from the date of issue (the “Warrants”). No application shall be made for admission to any list or to trading on any market (regulated or otherwise) of the Warrants.
Trinity College Dublin / IMC Exploration Group plc significant developments on Avoca Mine Property
IMC Exploration Group plc is pleased to report significant progress on its collaboration with the Raw Materials Group at Trinity College Dublin. Research has focused on:
(i) resolving the styles and occurrences of gold in the highly prospective Caledonian terranes across Ireland; and
(ii) through detailed petrographic work, characterising the gold-rich Kilmacoo zone at IMC's Avoca Mine property in Co. Wicklow.
DUBLIN, March 3, 2020 /PRNewswire/ -- IMC presented details of its world class spoils' and tailings' project on its Avoca licence, County Wicklow, Ireland to Mr. Seán Canney TD, the Irish Minister of State for Natural Resources during a meeting yesterday (2nd March 2020) at the Department of Communications, Climate Action and Environment, at the Prospectors and Developers Association of Canada ('PDAC'). This was particularly worthwhile as abstraction of the metals from the spoils and tailings, which are significant and were described in the inferred Mineral Resource Estimate previously announced by IMC, also dovetails with an essential environmental clean-up of the deleterious legacy of earlier mining activities in the area.
The PDAC convention is one of the most prestigious mining gatherings in the world with an estimated 25,000 delegates this year in attendance. IMC was privileged to have had the opportunity to present to the Irish Minister and to showcase IMC at such an outstanding convention.
Eamon O'Brien, Chairman commented 'The PDAC convention was a significant event for IMC. IMC availed itself of the opportunity to engage with a number of international mining companies, including those with similar spoils' and tailings' projects to IMC's assets in Avoca, County Wicklow.'
Enquiries:
IMC Exploration Group plc
Kathryn Byrne: +353 85 233 6033
Keith, Bayley, Rogers & Co. Limited
Graham Atthill-Beck: +44 20 7464 4091 / +44 7506 43 41 07 / +971 50 856 9408 / This email address is being protected from spambots. You need JavaScript enabled to view it. / This email address is being protected from spambots. You need JavaScript enabled to view it.
Brinsley Holman: +44 20 7464 4098 / This email address is being protected from spambots. You need JavaScript enabled to view it.
IMC Exploration Group plc (IMC) is currently listed on the London Stock Exchange market (Ticker: IMC). IMC has a Mineral Resource that is classified as ‘inferred’ and has been reported in accordance with the JORC Code (2012). IMC holds properties in southeast Ireland that are highly prospective for gold, copper and other base metals. These include the world famous historic Avoca copper mine.
IMC Exploration Group plc,
70 Ballybough Road,
Ballybough,
Dublin 3, Ireland
Telephone: +353 872819215
Email: info@imcexploration.com
