Leocor Gold engages JDS Energy & Mining Inc for preliminary work assessment on Newfoundland projects; receives U.S. trading symbol.
Leocor Gold Inc.
Suite 303, 750 West Pender Street
Vancouver, BC V6C 2T7
LEOCOR GOLD ENGAGES JDS ENERGY & MINING INC. FOR PRELIMINARY
WORK ASSESSMENT ON NEWFOUNDLAND PROJECTS; RECEIVES U.S.
TRADING SYMBOL
Vancouver, British Columbia – August 26, 2020 - Leocor Gold Inc. (the “Company” or
“Leocor”) (CSE: LECR) is pleased to announce it has formally engaged JDS Energy & Mining
Inc. ("JDS") to conduct a Preliminary Work Assessment on the Company ’s Dorset Gold,
Copper C reek and Five Mile Brook Projec ts in the Baie Verte Mining District in
Newfoundland, Canada.
The team at JDS will wo rk alongside Leocor ’s fi eld geologist , Wilson Jaco bs, and the
Company’s sen ior management and board, in reviewing historical results, area history,
geological and technical reports, and ongoing reconnaissance exploration programs, in an
effort to prioritize targets for future drill programs at the Company ’s Newfoundland
projects.
“We’re excited to add JDS to our team,” said CEO, Alex Klenman. “Their level of expertise
is well documented and their involvement will be of great benefi t to our development
efforts in Newfoundland. We ’re committed to both an aggressive and efficient path, and
adding JDS will be a key component in unlocking the va lue we believe is held within o ur
Baie Verte project portfolio,” continued Mr. Klenman.
About JDS Energy & Mining Inc.
JDS Energy & Mining Inc. (JDS) was founded in 2004 by Jeff Stibbard and is now composed
of a diverse set of skilled and highly expe rienced mining and construction professionals.
With a proven record providing clients with fit -for-purpose solutions and value delivery,
JDS has acquired a reputation for delivering and executing project plans on budget, on
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time, and most importantly, safe ly. The JDS team prides itself o n d elivering project
concepts from inception to full operations – a process it has executed seamlessly for
operations throughout Canada and the world, including the Minto and Eagle Gold Mines
in the Yukon, the Gahcho Kue Mine located in the Northwest Territories, and the currently
under construction Madsen Mine in Red Lake, Ontario.
About the Dorset Gold Project
The Dorset gold project is a 275 -hectare gold explorati on project, located south of the
Pine Cove gold mine, Baie Verte mining district , north -central Newfoundland, Canada,
with multiple zones of high-grade gold mineralization. A number of high-target areas have
been delineated for follow -up, based on the hist oric work, which includes the following
highlights*:
• Dorset - 408 grams-per-tonne (“g/t”) gold (“Au”) (grab sample), 41.6 g/t Au over
1.5 metres (channel) and 9.5 g/t Au over 1.3 m in a diamond drill hole;
• Dorset ex tension - 56 g/t Au over 2.5 m (channel) and 2.32 g/t Au over 0.5 m
(diamond drill hole);
• Braz - 314 g/t Au (grab), 40 g/t Au (grab) and 5.8 g/t over 1.9 m (channel);
• Gunshot - 162 g/t Au (grab), 18 g/t Au over 0.4 m (channel) and 5.73 g/t over 0.55
m (diamond drill hole);
• Central carbonate zone - 5.5 g/t Au (grab), 4.6 g/t Au (grab) and 0.6 g/t Au over 5.5
m (channel).
About Copper Creek and Five Mile Brook Projects
The Baie Verte Peninsula represents one of the more productive and historical gold an d
base metal mining districts in Canada. The former Terra Nova base metal mine – one of
several copper mines of the region, which operated during the lat e 1880’s to early 1900’s
– lies 200 meters west of Leocor’s Copper Creek claims. Former gold mining operations in
the area include the Goldenvill e mine (of 1903-1906), located 8 km NE of the property,
and the more recent Nugg et Pond mine (1997-2000) of th e eastern Baie Verte Peninsula
area. Currently producing mines in the area include the Rambler base m etal-gold mine
(1961-present), located 14 km ESE of Baie Verte, and the Pine Cove Mine and Stogertite
deposit (collectively, 2011-present) located 1.6 km and 5.4 km NE of the current property.
Historical results at Copper Creek include 3.9 g/t Au over 4 meters in a channel s ample,
and 16 g/t Au, 11.35 g/t Au, 9.20 g/t Au, 8.23 g/t Au, 7.33 g/t in grab samples*. Five Mile
Brook has been subject to minimal exploration in the past but shows potentially important
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geological continuity to the Company’s Dorset Gold Project, which lies directly contiguous
to the northern boundary.
* (Noranda, 1988-1990; Anaconda Mining 2004; Chan 2013)
Note: the reader is ca utioned that rock grab samples are selective by nature and may not
represent the true grade or style of mineralization across the property.
Figure 1: Leocor Gold holdings in the Baie Verte Peninsula, central Newfoundland, Canada
Wayne Reid, P. Geo., a qualified person as defined in National Instrument 43 -101, is
responsible for this release and supervised the preparation of the information forming the
basis for this release.
Leocor Shares Begin Trading in USA
The Company i s also please d to announce tha t effective immediately, its common shares
have commenced trading in the United States under the ticker symbol “ LECRF”. The
listing coincides wit h the Company’s ongoing efforts to both increase and support its
existing U.S. shareholder base and to facilitat e trading in the OTC markets. The company
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has also pursued DTC eligibility to support electronic trading and expects that approval in
the coming weeks.
About Leocor Gold Inc.
Leocor Gold Inc is a British Columbia-based resource company involved in the a cquisition
and exploration of precious metal projects, with a current focus in Atlantic Canada.
Leocor is a reporting issuer in British Columbia, Alberta and Ontario, and has its com mon
shares listed for trading on the Cana dian Securiti es Exchange under t he symbol "LECR".
Leocor has an option agreement with Nexus Gold Corp. on the Dorset Gold Project in the
Province of Newfoundland and L abrador, pursuant to which Leocor has the optio n to
acquire a 100% interest in the project. Dorset is located in the Baie Verte Mining District,
proximal to known deposits and currently producing mines, including Anaconda Mining’s
Pine Cove Mine and Stogertite deposit, and Rambler Metals’ Ming Mine.
Contact Information
Leocor Gold Inc.
Alex Klenman, Chief Executive Officer
Email: [email protected]
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
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Agreement or at all; Leocor's ability to exercise the Option; the state of the financial
markets for Leocor's securities; the state of the natural resources sector in the event the
Option is 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.