17th Sep 2020 19:16
IMC Exploration Group PLC - Irish gold explorer - Believes "quality exploration targets remain to be tested" at its North Wexford gold project. An initial review of historical exploration on PL 1200 in County 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.
One drill hole has been drilled in PL 1200 and has been examined by IMC. In 1986, RioFinEx drilled a gold-in-soil anomaly and proved gold mineralisation hosted by highly altered rocks at a depth of 30 metres. Groove sampling of the drill core at that time proved an intercepted grade of 0.5 grammes per tonne gold over 18.6 metres. Half core sampling of part of the groove sampled interval assayed 15 metres at 0.2 grammes per tonne.
Although all the pertinent data is available for examination, IMC has determined that the overall data set is not JORC compliant. IMC therefore intends to drill further in this area in order to confirm and expand on the data available to the company in accordance with the JORC Code. IMC continues to assess the historical records available for PL 1200 and has concluded from geochemical and geophysical data that other areas within PL 1200 remain to be drill tested.
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By Paul McGowan; [email protected]
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