3rd Dec 2019 14:27
(Alliance News) - IMC Exploration Group PLC on Tuesday said results from a recent exploration programme in Ireland validate historical data.
IMC said results from the Goldmines River licence in County Wicklow have confirmed gold with grades of up to 0.4 grams of gold per tonne of ore.
The company was prospecting in the area around former mine workings earlier in 2019, it said, and follow-up work has found trace levels of gold contained in wall rock associated with old workings.
This is potentially significant as, in one drill hole intersection, the wall rock is a highly sheared siliceous tuff containing 10% magnetite over a 6m interval and implies that fluids associated with gold mineralisation may have been widespread.
IMC also said a coarse-grained sand found in old work contained silver, tungsten, and nickel, suggesting there may be a multi-element system at the licence.
Shares in the company were 17% lower on Tuesday afternoon in London at 1.25 pence each.
By George Collard; [email protected]
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