• 13 completed, drilling is ongoing 

       

Vancouver, British Columbia – TheNewswire - February 20, 2025 - Leocor Mining Inc. (the “Company” or “Leocor”) (CSE: LECR, OTCQB: LECRF; Frankfurt: LGO0) (formerly Leocor Gold Inc.), a junior resource company focussed on the exploration and development of gold-copper projects in Eastern Canada, is pleased to provide an update on the ongoing drill program at the Baie Verte project, a 2,002-ha contiguous exploration package located on the north central coast of the island of Newfoundland in the province of Newfoundland and Labrador, Canada.

 

Crews continue drilling on the 13th of 19 planned holes of the campaign at the Baie Verte project’s Copper Creek prospect.  Following the previously reported occurrences of believed chalcopyrite mineralization in holes 25-CC-001 and 25-CC-002, 8 of the subsequent 11 drillholes have also encountered mineralization interpreted to be chalcopyrite over various lengths and in various visually estimated abundances. Highlights are described in further detail below.  

 

Hole 25-CC-005 intersected intermittent intervals of interpreted chalcopyrite in association with other sulphide minerals between 5.3m and 40.4m downhole. Mineralized intervals range between 0.4m to 3.8m in drilled length and contain interpreted chalcopyrite in visually estimated modal abundances of 0.1% (trace) to 2%. The hole’s most significant interval, with respect to estimated chalcopyrite abundance, 31.4m to 33.4m (2m length) contained a visually estimated modal abundance of blebby chalcopyrite of 2%.

 

Hole 25-CC-007 intersected intermittent intervals of interpreted chalcopyrite in association with other sulphide minerals between 100.6m and 162.4m downhole. Mineralized intervals range between 0.1m to 10.8m in drilled length and contain interpreted chalcopyrite in visually estimated modal abundances of 0.1% (trace) to 3%. The hole’s most significant interval, with respect to estimated chalcopyrite abundance, 133.6m to 138m (4.4m length) contained a visually estimated modal abundance of blebby chalcopyrite of 3%.

 

Hole 25-CC-010 intersected intermittent intervals of interpreted chalcopyrite in association with other sulphide minerals between 11.5m and 22.0m downhole. Mineralized intervals range between 1.1m to 2.9m in drilled length and contain interpreted chalcopyrite in visually estimated modal abundances of 0.1% (trace) to 3%. The hole’s most significant interval, with respect to estimated chalcopyrite abundance, 20.0m to 22.0m (2m length) contained a visually estimated modal abundance of blebby chalcopyrite of 3%.

Holes 25-CC-006, 009, and 011 also intersected mineralization believed to be chalcopyrite but not in estimated abundances or drilled lengths deemed to be significant at this time.

Additional information pertaining to holes 25-CC-012 and 25-CC-013 will be provided after detailed logging.

 

It is important to note that these are preliminary observations, and the true grade and thickness of the mineralization will only be determined once assay results are received. Samples of mineralized intervals are being prepared for geochemical analysis by SGS, an accredited laboratory, and the Company expects to receive results within four weeks.

 

Table 1 details drillhole collar information. Collar coordinates may be planned, or spot locations as final location survey are not complete for all holes.

 

Hole ID	Easting	Northing	Dip	Azimuth	Length
25-CC-001	556656.4	5529618.4	-45	120	194
25-CC-002	556657.4	5529617.8	-70	120	119
25-CC-003	556699.7	5529594.9	-50	120	74
25-CC-004	556701.7	5529593.3	-70	120	110
25-CC-005	556722.0	5529693.2	-50	120	110
25-CC-006	556724.2	5529691.8	-70	120	95
25-CC-007	556700.7	5529594.6	-50	300	170
25-CC-008	556740.3	5529676.7	-50	120	74
25-CC-009	556739.7	5529677.1	-70	120	69.5
25-CC-010	556707.7	5529653.2	-50	120	89
25-CC-011	556707.7	5529652.5	-70	120	62
25-CC-012	556623	5529588	-50	120	125
25-CC-013	556623	5529588	-70	120	ongoing

 

Drilling crews continue to build trails and level drill pads in Copper Creek. Before mobilizing equipment to prepare planned drilling at the company’s Dorset prospect. Exploring gold mineralization targets defined by anomalous surface geochemistry, ground magnetometer survey interpretation and the company’s previous trenching results reported (see Company News Releases www.leocormining.com/news).

 

Drill Hole Targeting

 

Multiple drill holes at Copper Creek are targeting areas of known mineralization identified in 2022 Rab drilling as well as previously mapped structures displaying hydrothermal alteration and anomalous base and precious metal geochemistry from soil and rock sampling.  At the Dorset claim, drilling targets are concentrated in areas where the Company intersected significant gold results during its 2022 RAB drilling campaign detailed the company’s  September 19, 2023 news release. The drill program is being conducted under the supervision of David Murray, P. Geo, president of Resourceful Geosciences. The Company will provide an update early next week.

 

The Dorset project is prospective for additional gold occurrences and the 2025 program will be designed to test some of the priority zones within a prominent 1 x 2 km gold-in-soil anomaly delineated by Leocor in 2022.

 

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Figure 1: Location of the Baie Verte Project, NW Newfoundland

 

For more information regarding Leocor’s Baie Verte Project, including detailed figures, assessment details, and historic data, please visit our website.

Qualified Person

David Murray, P.Geo., Principal Consultant at Resourceful Geoscience Solutions Inc., an Independent Qualified Person within the meaning of National Instrument 43-101 Standards of Disclosure for Minerals Projects, has reviewed and approved the technical information presented herein.

  

About Leocor Mining Inc. (Formerly Leocor Gold Inc.)

 

Leocor Mining Inc. is a British Columbia-based resource company involved in the acquisition and exploration of precious metal projects, with a current focus in Atlantic Canada.  Leocor, through outright ownership and earn-in agreements, currently controls several gold-copper projects in prime exploration ground located within the prolific Baie Verte Mining District.  Leocor’s Bae Verte portfolio includes the Dorset, Dorset Extension, Copper Creek and Five Mile Brook projects, creating a contiguous nearly 2,000-hectare exploration corridor.  The Company also controls district scale land packages in North Central Newfoundland, known as Robert’s Arm, Hodge’s Hill, and Leamington, (collectively “Western Exploits”) representing over 144,000 hectares (1,440 square kilometers) of prospective exploration ground. For more information, sign up for news alerts, watch our corporate video, or view our presentation at our website.

Contact Information

Leocor Mining Inc.

Alex Klenman, Chief Executive Officer

Email : aklenman@leocorgold.com  

Telephone : (604) 970-4330

Neither the Canadian Securities Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.

 

Cautionary Statements Regarding Forward-Looking Information

This press release contains forward-looking information within the meaning of Canadian securities laws. Such information includes, without limitation, information regarding the terms and conditions of the Option. Although Leocor believes that such information is reasonable, it can give no assurance that such expectations will prove to be correct.

 

Forward looking information is typically identified by words such as: “believe”, “expect”, “anticipate”, “intend”, “estimate”, “postulate” and similar expressions, or are those, which, by their nature, refer to future events. Leocor cautions investors that any forward-looking information provided by Leocor is not a guarantee of future results or performance, and that actual results may differ materially from those in forward looking information as a result of various factors, including, but not limited to: the agreement of the parties to proceed with 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 financial markets for Leocor's securities; the state of the natural resources sector in the event the Option, or any of them, are completed; recent market volatility; circumstances related to COVID-19; Leocor's ability to raise the necessary capital or to be fully able to implement its business strategies; and other risks and factors that Leocor is unaware of at this time. The reader is referred to Leocor's initial public offering prospectus for a more complete discussion of applicable risk factors and their potential effects, copies of which may be accessed through Leocor’s issuer page on SEDAR at www.sedar.com.

 

The forward-looking statements contained in this press release are made as of the date of this press release. Leocor disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.