IMC’s Wexford exploration potential:

• IMC’s PL 2551 had previously encountered Bonanza grade gold discovered during IMC drilling at Boley (PL 2551): 1.5 m grading 354 g/t within a 13.5 m interval averaging 3.5 g/t Au (applying 20 g/t top cut). Notable drill intercepts at PL 2551 of 0.72m @ 10g/t Au; 1.3m @ 3.81 g/t Au; 1.2m @8.3 g/t Au and 5m @ 2.4 g/t Au. Further drilling was recently carried out and the assay of its results from Drillhole 24-2551-01, which was designed to test the interpreted strike extent of the two zones of gold mineralization 150m to the northeast, intersected both mineralized zones and returned values of 1m grading 5.8g/t Au from 90.5 – 91.5m in the upper zone and 1m grading 1.1g/t Au from 139.5 – 140.5m in the lower zone.  Background gold values are present throughout both zones, which are interpreted as shear zones, and are considered prospective for orogenic style gold mineralization.  The drillhole reached a depth of 172.5m.    
• In our February 2018 Competent Person’s report, the author, SLR, stated that in their opinion IMC’s work has significantly upgraded the gold potential of the licence. It is considered that there is strong support for the presence of a zone of major gold mineralization trending NE to ENE through the townlands of Boley, Ballygarret and Kilmichael.

IMC currently holds 4 prospecting licences on the East coast of Ireland in Co. Wexford PL 2551, and Co. Wicklow (PL 3850, PL 3849 & PL 3857). The various Competent Person’s Reports completed (SLR March 2016 to IGS June 2023) confirms the exploration activities on these licences and selected findings below: Bonanza grade gold discovered during IMC drilling at Boley (PL 2551): 1.5 m grading 354 g/t within a 13.5 m interval averaging 3.5 g/t Au (applying 20 g/t top cut). Notable drill intercepts at PL 2551 of 0.72m @ 10g/t Au; 1.3m @ 3.81 g/t Au; 1.2m @8.3 g/t Au and 5m @ 2.4 g/t Au.

Co. Wickow licences include the former Avoca Copper mine and highlights of previous exploration on these licences include drill intersections of 8.3m @ 10.1% Zn, 5.7% Pb, 0.48% Cu 284 g/t Ag and 10m @ 12.95 g/t Au. Following the establishment of IMC’s collaboration with the Raw Materials Research Group at Trinity College Dublin, the Company is now working with them on petrographic and microanalytical work on samples from IMC drill-holes targeting the gold-rich Kilmacoo zone. This Trinity College Dublin research group is led by Dr. Sean McClenaghan and Dr. Thomas Riegler.

Milner and McArdle (1992) reported that drilling at the gold-rich Kilmacoo zone at the north-east end of the Avoca Mine property intersected 19 metres of quartz veined schist grading 2.88 g/t Au and 16.6 g/t Ag. The site was further explored by Riofinex and, although no resource figures were published by Riofinex, Milner and McArdle (1992) stated that a (non-compliant) resource of up to 500,000t at up to 2 g/t Au could be present over a 125 metre strike length, equivalent to over 35,000 ozs of gold. More recently, further drilling on the property has been carried out by IMC.