PR Newswire
LONDON, United Kingdom, February 24
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»)
IMC Exploration Group plc (IMC), the London-listed exploration company based in
Ireland, is pleased to announce results showing free gold in quartz veins
intersected by drillhole 24-2551-01 from a laboratory study of its 2024 drilling
at its Boley prospect in Prospecting Licence (PL) 2551 in Co. Wexford Ireland.
Drillhole 24-2551-01 extended the strike extent of known gold mineralization at
the Boley prospect by 150m to the northeast by intersecting 1m grading 5.8g/t Au
in an upper zone and 1m grading 1.1g/t Au in a lower zone (IMC News Release 21st
March 2024). An historic IMC drillhole from the Boley prospect intercepted 1.5m
grading 354g/t Au near surface.
The laboratory study reported today was undertaken by, Dr Seán H. McClenaghan of
the Raw Materials Characterization Laboratory, Trinity College Dublin and
confirmed free gold in quartz veins intersected by drillhole 24-2551-01.
Highlights
· Petrographic examination of 24-2551-01 confirmed the presence of quartz-vein
hosted gold mineralization in bedrock at a depth of 90.5m.
· Polished sections reveal a high abundance of bismuth-tellurides in
association with gold-rich electrum (Au91Ag09) and tetrahedrite within orogenic
quartz also hosting chalcopyrite, galena, pyrite and arsenopyrite.
· Work reported today indicates pyrite and chalcopyrite in quartz veins may
represent effective indicators of gold and associated mineralization.
Mineralogical assessment indicates gold in the Boley quartz veins in PL 2551 may
represent part of an orogenic Au-Bi-Te (Cu-Pb) trend. Discrete gold-bearing
quartz veins intersected in drillhole 24-2551-01 may be interpreted to represent
a distal extent of a wider orogenic gold trend. Laser-Ablation ICP-MS analyses
of pyrite crystals reveals gold enrichment up to 248g/t Au, representing some of
the highest recorded values of gold within pyrite from Caledonian terranes.
The level of gold in pyrite analysed at Boley is similar to that in pyrite
phases which host gold at the Curraghinalt deposit in Co. Tyrone, Northern
Ireland.
Planned 2026 exploration activities on PL 2551 will focus on ground prospecting,
bedrock mapping and trenching of targets informed by data from drillhole 24-2551
-01.
Dr Sean H. McClenaghan, Raw Materials Characterization Laboratory, Trinity
College Dublin commented:
«Petrographic confirmation of gold in bedrock following up from an earlier assay
intersection of 354g/t Au highlights the potential for further discovery at PL
2551. The strong auriferous nature of pyrite associated with the vein
intersections suggest strong Au fertility with excellent potential along the
Boley trend.»
Eamon O’Brien, IMC Executive Chairman commented:
«Following the Company’s recently announced Karaberd Gold and Silver mine’s
successful licence extension to 2035 in Armenia, these findings from the Irish
portfolio further underscore IMC’s strategy of identifying and advancing high
-value gold assets across multiple jurisdictions. Having a mineralogical
fingerprint showing similarities to the world-class Curraghinalt multi-million
-ounce gold deposit located in the Sperrin Mountains of County Tyrone, Northern
Ireland, justifies the Company’s continued high expectations for further
exploration activities on this PL2551 licence, particularly as finding Au-rich
electrum (Au91Ag09) in the ore can be a positive indicator because higher gold
fineness generally suggests favourable hydrothermal conditions for gold
enrichment»
A copy of the full report is available on the IMC website at:
https://www.imcexploration.com/licences/technical-reports
Qualified Person
Technical information in this news release has been approved by Professor Garth
Earls, Eur Geol, P.Geo, FSEG, geological consultant at IGS (International
Geoscience Services) Limited, and independent `Competent Person’ as defined
under the 2021 Pan-European Reporting Standard.
The Directors of IMC, after due and careful enquiry, accept responsibility for
the contents of this announcement.
Eamon P. O’Brien,
Executive Chairman,
Dublin, 24th February 2026.
REGULATORY ANNOUNCEMENT ENDS.
Enquiries
IMC Exploration Group plc
Eamon O’Brien
+353 87 6183024
Kathryn Byrne
+353 85 233 6033
Keith, Bayley, Rogers & Co. Limited
Stephen Clayson
+44 (0)7771 871 847
Brinsley Holman
+44 (0)7776 302 228
IFC Advisory Limited (Financial PR and IR)
Tim Metcalfe
Florence Staton
+44 (0)203 934 6632
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