IMC EXPLORATION GROUP PLC
LSE : IMCP

March 06, 2012 02:00 ET

Drilling Update

                                     IMC Exploration Group Plc
                                          Drilling Update

Dublin 6th March 2012


DRILLING UPDATE

 - INDEPENDENT EXPERT CONFIRMS EXCITING BASE METAL PROSPECT IN IMC TULLA LICENCE AREA.

The directors of IMC Exploration Group Plc ("IMC") wish to inform shareholders that, following
encouraging  indications from Drillhole 11-3729-01 in Prospecting Licence Area 3729, Tulla, Co.
Clare, an independent expert was engaged by IMC to undertake further investigative work to
confirm the view of the company that the results were of a highly significant and encouraging
nature. Dr John Kelly of SLR Consulting Limited ("SLR"), an expert on the characteristics of Irish
Base Metal Deposits, was commissioned to provide an independent report on the drill core.

IMC is now pleased to announce the results of this independent review of the drill core and
confirm that a copy of the entire report has been uploaded onto the company's website at
www.imcexploration.com.

In summary, Dr  Kelly reported that "The drillhole intersected a number of interesting features
including  breccias,  interpreted to be hydrothermal in origin with clasts containing replacive
pyrite noted, together with green argillite bands having an altered appearance at the base of the
Waulsortian Limestone".

He further confirmed that "Features such as these are texturally similar to and characteristic of
alteration associated with some Irish base of Waulsortian base-metal deposits (e.g.  Silvermines,
Lisheen, Galmoy etc.)".

Commenting on the report and its findings, Dr Glenn Millar, Managing Director of IMC said:

"This is great news for the company and confirms that significant alteration of the type
associated with Silvermines, Lisheen and Galmoy is present in the Tulla area.

As a result of these highly encouraging findings we have decided to immediately increase our
drilling activity in the Tulla area in order to further understand this area's exploration
potential and confirm the directors' belief that the Tulla Prospecting Licence area hosts
significant base metal mineralisation.

We will now introduce a second drill rig to our exploration programme, with one drill rig entirely
focused on this exciting base metal prospect in Tulla, whilst the other drill rig continues to
focus on the gold prospects in an area of Co. Wexford where grades of up to 35.05g/t  Gold  over
0.7m have been recorded".

The Directors of IMC Exploration Group plc are responsible for the contents of this announcement.


Contact Details:
IMC Exploration Group Plc
Mr. Liam McGrattan
Tel. Ireland: +353 87 2745427

Mr. Hugh Gibney
Tel. Ireland: +353 87 671 9332

LHM Casey McGrath
Mr. Con Casey
Tel. Ireland: +353 1 495 9200
con.casey@lhmcaseymcgrath.ie


Contact Information

  • IMC EXPLORATION GROUP PLC