Wednesday, October 17 14:11:25
Dublin-based IMC Exploration Group has signed a deal with Harvest Resources, registered in the United Arab Emirates for a joint venture to explore for gold, zinc, copper and oil in Afghanistan.
It said both parties have signed a Memorandum of Understanding (MOU) to facilitate targeted exploration of minerals such as copper, lead, zinc, gold and silver in Afghanistan.
In addition, the MOU provides for the development of oil and gas opportunities in Afghanistan.
Last month, IMC announced very promising gold results from its Wexford licence and, on 11th October announced findings from further drilling in Tulla, Co Clare, confirming the area's potential to host significant zinc and other base metal mineralization.
"This is a very exciting time for the company with positive gold results in Wexford, as well as favourable geology with the potential to host significant zinc and other base metal mineralization in Tulla. Signing the MOU with international partners Harvest, will enable IMC to broaden its geographical focus and further leverage the expertise and ability of the company's world class geological team," said Managing Director of IMC, Dr Glenn Millar.