LECRF - Leocor Gold Receives RAB Drill Results from the Dorset Project Baie Verte District Newfoundland
(TheNewswire)
Vancouver, BritishColumbia - TheNewswire - September 19, 2023 - LeocorGold Inc. (the “ Company ” or“ Leocor ”) (CSE:LECR ) ( OTC:LECRF) is pleased to report significant RAB drillingresults from the recently completed drill program on the DorsetProject within the Company’s Baie Verte District landholdings,located on north central Newfoundland, Canada (Figure 1).
These results are highlighted by hole DORRAB23-004which returned 0.226 grams-per-tonne (“g/t”) gold (“Au”) over32m starting at surface (4.6m). This includes 1.01 g/t Au over 1.52mstarting at surface and 0.464 g/t Au over 1.52m from 32m. A total of14 RAB holes were completed at the Dorset Project totaling 750m.Drilling concentrated on the Sharpie Ridge, Gunshot and Dorsetshowings. The above wide low-grade intercept tested an undrilled 1 x 2km gold-in-soil anomaly outlined by Leocor in 2022 (Figure 2).
“We are excited to announce the results from oursummer RAB drill program at the Dorset Project which is one of our keyassets in the Central Newfoundland gold belt,” said CEO, AlexKlenman. “RAB drilling is a very mobile and cost-effective tool totest targets of merit at the subsurface. The drilling isn’t deep anda wide low-grade intercept over a 1 km wide gold-in-soil anomaly is avery significant finding. Last year’s RAB drilling 700 meters tothe north intersected high-grade gold. The combination ofhigher-grade hits and wide areas of lower grade values presents alarge and very compelling exploration target. We are on to awide-spread gold system and we’re eager to probe this area withdiamond drilling,” continued Mr. Klenman.
Figure 1. Regional location ofLeocor’s Baie Vert District landholdings.
Table 1. Interval and compositeresults of the Dorset Project RAB 2023 drill program
| Hole ID |
| Target |
| From (m) |
| To (m) |
| Interval (m) |
| Au g/t) |
| DORRAB22-001 |
| DOR Main |
| 28.96 |
| 36.58 |
| 7.62 |
| 1.41 |
| DORRAB22-002 |
| DOR Main |
| 28.96 |
| 35.05 |
| 6.10 |
| 1.14 |
| DORRAB22-003 |
| DOR/Gunshot Extension |
| 27.43 |
| 30.48 |
| 3.05 |
| 0.57 |
| DORRAB22-004 |
| DOR/Gunshot Extension |
| No Significant Results |
| DORRAB22-005 |
| DOR/Gunshot Extension |
| 1.52 |
| 19.81 |
| 18.29 |
| 0.21 |
| DORRAB22-006 |
| Sharpie Ridge |
| No Significant Results |
| DORRAB22-007 |
| Sharpie Ridge |
| 15.24 |
| 25.91 |
| 10.67 |
| 2.32 |
| Incl. |
| 15.24 |
| 16.76 |
| 1.52 |
| 10.2 |
| DORRAB22-008 |
| Sharpie Ridge |
| No Significant Results |
| DORRAB22-009 |
| Sharpie Ridge |
| No Significant Results |
| DORRAB22-010 |
| BRAZ NE |
| 0.00 |
| 4.57 |
| 4.57 |
| 3.18 |
| DORRAB22-011 |
| Gunshot |
| 18.29 |
| 19.81 |
| 1.52 |
| 0.64 |
| DORRAB22-012 |
| Gunshot |
| No Significant Results |
Table 2. Results of the DorsetProject 2022 RAB drill program
Figure 2. Drill hole locations ofthe 2023 RAB drilling program at the Dorset Project.
RAB Drilling
The RAB drilling was 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-groundpressure and minimal surface disturbance. Individual drill holes canbe up to 100m in depth and are paired with onsite XRF analysis andoptical televiewer surveys, allowing rapid evaluation of the targetareas.
2022-2023 RAB Results and NextSteps
Based on the 2022 and 2023 significant RAB drillresults, Leocor’s geological team has advanced the interpretation ofpossible controls to gold mineralization related to north tonorth-northeast and southeast-northwest structural lineaments (Figure3). Where these trends intersect has produced the more significantsub-surface drill intercepts. This relationship appears very importantand will provide targets of merit for the follow up program. Permitting for diamond drilling has now been submitted.
Figure 3. Dorset Project 2023 Rabdrill holes over total magnetic intensity with structural lineamentinterpretation.
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.
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 and conditions of the Option. Although Leocorbelieves that such information is reasonable, it can give no assurancethat such expectations 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- looking information provided by Leocor isnot a guarantee of future results or performance, and that actualresults may differ materially from those in forward lookinginformation as a result of various factors, including, but not limitedto: the agreement of the parties to proceed with the proposedtransaction on the terms set out in the Option Agreements or at all;Leocor's ability to exercise the Options; the state of the financialmarkets for Leocor's securities; the state of the natural resourcessector in the event the Option, or any of them, are completed; recentmarket volatility; circumstances related to COVID-19; Leocor's abilityto raise the necessary capital or to be fully able to implement itsbusiness strategies; and other risks and factors that Leocor isunaware of at this time. The reader is referred to Leocor's initialpublic offering prospectus for a more complete discussion ofapplicable risk factors and their potential effects, copies of whichmay be accessed through Leocor’s issuer page on SEDAR atwww.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.
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