(TheNewswire)
Vancouver,B C - TheNewswire- February28, 2023 - Leocor Gold Inc. (the “ Company ” or “ Leocor ”) (CSE:LECR ) ( OTC:LECRF) is pleased to provide an exploration update for its over 150,000-hectarecombined gold projects located in Newfoundland, Canada. Thefollowing summaries encompass exploration work to date at each of theCompany’s five prospective gold projects. Work programs for the2023 field season are being finalized presently and will be announcedin the coming weeks.
Dorset (Baie Verte)
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34 rock samples taken.
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442 soil samples
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18 RAB drill holes – 1023 meters – 681samples
RAB drilling results received in late summer 2022 with10.2 g/t Au gold intercept on a new drill target (Sharpie Ridge), andOver 1% Cu intercept on Copper Creek target (see Company news releasedated December 7, 2022) warrant further drilling plans on Dorset. RAB or diamond drilling will be used to test the extents ofmineralization on these higher-grade targets. Drilling on othertargets along the “Dorset Trend” Au soil anomaly will focus ongeophysical bodies identified at depth which are thought relate tostructure and mineralization at surface.
Leamington
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102 rock samples taken on target areas formulated from2021 soils and airborne geophysics.
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6,662 soils taken.
Prospecting identified a low-grade gold and coppertarget that needs to be further assessed on desktop for historicaldata, and in the field by a team of geologists. The scope is toidentify zones of higher-grade Au + Cu near that target since thereare large structures and favorable geology present. Northern areasof Leamington remain relatively unexplored due to access, and thecentral part of the project was unexplorable for part of last seasondue to fires. These areas will be scouted and explored alonggeological and geophysical contacts that have anomalous soil. SouthLeamington may warrant trenching or bedrock interface drilling wherethe till is deeper.
Robert’s Arm
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161 rock samples taken on target areas determined fromsoil and airborne geophysical survey.
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3,712 soil samples
Further follow up on soil anomalies, geophysicalcontacts, and geological contacts is needed on Robert’s Arm. Theprospecting covered a large area of road accessible targets identifiedfrom 2021 soil sampling and airborne geophysical surveys. Thecomprehensive 2022 soil sampling program has generated additionaltargets for exploration efforts in 2023.
Hodges Hill
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60 rock samples taken on target areas determined fromsoil and airborne geophysical survey.
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3,838 soils taken.
Further follow up on soil anomalies and geophysicalcontacts is needed on Hodges Hill. Hand/mechanical trenching, orbedrock interface drilling may be necessary to further explore throughthe till layers on this project. The 2022 soil sampling program hasgenerated new target areas for 2023 exploration efforts.
Startrek
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1319 soils taken.
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56 rock samples taken in areas of interest.
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12 line-km of ground Mag-VLF (geophysicalsurvey)
Several areas of low-grade epithermal gold have beenidentified on surface from 2022 rock sampling and historical data. This paired with results from ground geophysics, and detailed soilsampling will provide viable data to conduct a short hole RAB drillhole program. The drill program is designed to test geophysicalcontacts and conductive bodies at depth that relate to mineralizationon surface. Most of the drilling would target the Stallion Trendwhich is outlined by a large antimony anomaly on the project. Further prospecting is scheduled to be conducted on areas outsidethe Stallion Trend. There are historical reports of Zinc values upto 3.3%, and Silver up to 24 g/t where large structures are apparentin the LiDAR survey.
National Instrument43-101 Disclosure
Jodie Gibson, P.Geo., consultant, and aQualified Person as defined by National Instrument 43-101, hasreviewed, and approved the scientific technical content of thisrelease.
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-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 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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