24th Sep 2019 15:18
(Alliance News) - IMC Exploration Group PLC on Tuesday said preliminary testing has indicated "significant free gold" at the Avoca gold project in Ireland.
IMC has collaborated with the the Raw Materials Research Group at Trinity College Dublin on Avoca, where historic mines have left spoil heaps. The college is currently conducting micro-analytical and petrographic work on IMC drill-hole samples which target the Kilmacoo zone where Avoca is located.
IMC said: "Preliminary results suggest that significant free gold is present and that, for oxidised materials (i.e., the spoils at Avoca), free gold may be liberated during the oxidation of sulphides."
Moreover, the presence "of free gold in late cross-cutting (orogenic) veins suggests a potential for further gold occurrences in similar structures across the Avoca belt."
The Kilmacoo was found in the 1950s and intersects 19 metres of quartz, and was the target of more exploration in the 1980s.
IMC Chair Eamon O'Brien said: "IMC is delighted to have established this collaboration with the Raw Materials Research Group at Trinity College Dublin. I am extremely pleased that our Avoca gold project was highlighted by Trinity College for their research into resolving the paragenesis of gold in Caledonian terranes across Ireland. We look forward to working with them on this exciting project."
Shares in IMC were untraded at 1.95 pence in London on Tuesday.
By Anna Farley; [email protected]
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