LECRF - Leocor Gold Begins RAB Drilling at Dorset Project Baie Verte District Newfoundland
(TheNewswire)
Vancouver, BritishColumbia – TheNewswire - June 13, 2023 - Leocor Gold Inc. (the“ Company ” or “ Leocor ”) (CSE:LECR ) , ( OTC:LECRF) is pleasedto announce that RAB drilling has begun on the Dorset Project withinthe Company’s Baie Verte District landholdings, Newfoundland,Canada.
The Baie Verte District is home to the Point Roussegold mine now owned by Signal Gold and the Ming copper and gold minebelonging to Rambler Metals and Mining (Figure 1).
“We are excited to announce the beginning of our RABdrilling at Dorset as part of Leocor’s planned $1.2 million 2023exploration program,” said CEO, Alex Klenman. “RAB drilling is avery mobile and cost-effective tool we are utilizing to target thesub-surface with instant XRF analysis and downhole optical viewing.The Dorset Project remains a top priority for Leocor based on ourimpressive inaugural RAB results from 2022, and we’re lookingforward to continuing the project’s development,” continued Mr.Klenman.
Figure 1. Regional location ofLeocor’s Baie Vert District landholdings
Dorset (Baie Verte District)
A total of 16 RAB drill holes are planned for theDorset Project. RAB drilling will continue to test and expand on theSharpie Ridge gold occurrence with seven RAB holes where in late 2022drilling returned 2.32 g/t Auover 10.67 m and 10.2 g/t Au over 1.52m . Anadditional two RAB holes will be completed at Copper Creek targetwhere in 2022 drilling returned 0.58% % Cu over 9.12m, which includes 1.095% Cu over1.52m .
Two RAB holes will be completed at the DorsetGunshot/Braz occurrence where in 2022 drilling returned 3.18 g/t Au over 4.57 m . An additional seven RAB holes willtarget the Dorset Trend where a large 1 x 2 km gold-in-soil anomalywas outlined by 2022 soil sampling efforts (Figure 2). The extensivegold-in-soil anomaly is “one of the most clustered and anomalous”he has seen, says Leocor’s Technical Advisor, Shawn Ryan.
Figure 2. Planned 2023 RAB drillholes at the Dorset Project
RAB Drilling
The RAB drilling will be completed by GroundTruthExploration Inc. using their “GT RAB Drill,” a Heli-Portable,wireless remote-controlled, rubber tracked platform with a hydraulictilting mast assembly and rotary drill head. The GT RAB Drill isenvironmentally friendly with low-ground pressure and minimal surfacedisturbance. Individual drill holes can be up to 100m in depth and arepaired with onsite XRF analysis and optical televiewer surveys,allowing rapid evaluation of the target areas.
Qualified Person
Mike Kilbourne, P. Geo, an independent qualifiedperson as defined in National Instrument 43-101, has reviewed, andapproved the technical contents of this news release on behalf of theCompany.
About Leocor Gold Inc.
Leocor Gold Inc. is a British Columbia-based resourcecompany involved in the acquisition and exploration of precious metalprojects, with a current focus in Atlantic Canada. Leocor, throughoutright ownership and earn-in agreements, currently controls severalgold-copper projects in prime exploration ground located within theprolific Baie Verte Mining District. Leocor’s Bae Verte portfolioincludes the Dorset, Dorset Extension, Copper Creek and Five MileBrook projects, creating a contiguous nearly 2,000-hectare explorationcorridor. The Company also controls the 6,847-ha grassroots Startrekproject near Gander, as well as three district scale land packages inNorth Central Newfoundland, known as Robert’s Arm, Hodge’s Hill,and Leamington, (collectively “Western Exploits”) representingover 144,000 hectares (1,440 square kilometers) of prospectiveexploration ground.
Contact Information
Leocor Gold Inc.
Alex Klenman, Chief Executive Officer
Email : aklenman@leocorgold.com
Telephone : (604) 970-4330
Neither the CanadianSecurities Exchange nor its Regulation Services Provider (as that termis defined in the policies of the Canadian Securities Exchange)accepts responsibility for the adequacy or accuracy of thisrelease .
Cautionary Statements RegardingForward-Looking Information
This press release containsforward-looking information within the meaning of Canadian securitieslaws. Such information includes, without limitation, informationregarding the terms andconditions of the Option. Although Leocor believes that suchinformation is reasonable, it can give no assurance that suchexpectations will prove to be correct.
Forward looking information istypically identified by words such as: “believe”, “expect”,“anticipate”, “intend”, “estimate”, “postulate” andsimilar expressions, or are those, which, by their nature, refer tofuture events. Leocor cautions investors that any forward-lookinginformation provided by Leocor is not a guarantee of future results orperformance, and that actual results may differ materially from thosein forward looking information as a result of various factors,including, but not limited to: the agreement of the parties to proceedwith the proposed transaction on the terms set out in the OptionAgreements or at all; Leocor's ability to exercise the Options; thestate of the financial markets for Leocor's securities; the state ofthe natural resources sector in the event the Option, or any of them,are completed; recent market volatility; circumstances related toCOVID-19; Leocor's ability to raise the necessary capital or to befully able to implement its business strategies; and other risks andfactors that Leocor is unaware of at this time. The reader is referredto Leocor's initial public offering prospectus for a more completediscussion of applicable risk factors and their potential effects,copies of which may be accessed through Leocor’s issuer page onSEDAR at www.sedar.com.
The forward-looking statementscontained in this press release are made as of the date of this pressrelease. Leocor disclaims any intention or obligation to update orrevise any forward-looking statements, whether as a result of newinformation, future events or otherwise, except as required bylaw.
Copyright (c) 2023 TheNewswire - All rights reserved.