Leocor Gold updates exploration at the Dorset Gold Project, Baie Verte, Newfoundland.
Leocor Gold Inc.
Suite 303, 750 West Pender Street
Vancouver, BC V6C 2T7
LEOCOR GOLD UPDATES EXPLORATION AT THE DORSET GOLD PROJECT,
BAIE VERTE, NEWFOUNDLAND
• Confirms high-grade mineralization including 42.87 g/t Au over 0.4m
at the Gunshot Prospect
Vancouver, British Columbia , Ca nada – February 1 1, 20 21 - Leocor Gold Inc. (the
“Company” or “Leocor”) (CSE: LECR, OTCQB: LECRF; Frankfurt: LGO) is pleased to provide
an update on onoing wor k at the Dorset Gold Pro ject, located in the Baie Verte Mini ng
District, central Newfoundland, Canada.
Preliminary work on the Dorset property, consisting of research of historical assessment
files, data compilation and base map preparation was completed Company geologist,
Wilson Jacobs. Geological mapping and sa mpling were carried out and initial focus was
given to the general areas of the historic (Noranda) trench sites, in preparation for a new
trenching program scheduled for the first half of 2021. The planned trenching will focus on
the strike extensi on of a number of hi gh-grade, gold -bearing, quartz vein systems
discovered, by Noranda, in 1987-1989. The se prospects include the Dorset and Copper
Creek mineralization which were initially discovered by Noranda while trenching Au-in-soil
anomalies.
A total of 36 rock samples were collected from the o ld trenches, approximately half of
which consisted of angular quartz vein debris found along the excavated margins of the
historic trenches. Bedrock was limited due to de bris-infill and vegetation growth in most
of the plus 30 year old trenches, however in situ quartz vein exposures were observed at
two of the Noranda trench sites – the Gunshot and the Dorset No. 2 prospects.
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The recent sampling carried out by Leocor personnel on the prospects confirmed the high
grade nature o f the mineralization. Results included 42.87 grams-per-tonne ( “g/t “) gold
(“Au”) over 0.4m from a chip sample at the Gunshot prospect and grab samples of the
Dorset No. 2 vein , located 300m east, yielded assay values up to 11.41 g/t Au. (Historical
sampling at Gunshot record results up to 162 g/t Au in grab samples, 18.4 g/t Au over
0.4m in channel samples and 5.7 g/t Au over 0.6 m in drill core. The Dorset No. 2 vein has
published results of up to 408 g/t Au in grab samples, 41.3 g/t Au over 1.5m in channel
samples and up to 9.5 g/t Au over 1.3m in drill core).*
Detailed geological mapping and additional sampling was also carried out on an expanded
area around the Gunshot/Dorset area and several (previously unreported) mineralized and
altered bedrock exposures were recognized. These are described as zones of gossaneous,
strongly sericitized and locally silicified, intermediate to felsic, volcanics, bearing 1 -10%
disseminated and banded pyrite.
Additional information from the recent exploration activities are being compiled and will
be released over the coming weeks as the results are tabulated.
*Historical results are quoted from previous operators on the property - (Noranda, 1988-
1990; Anaconda Mining 2004; Chan 2013)
Note: the reader is cautioned that rock grab samples are selecti ve by nature and m ay not
represent the true grade or style of mineralization across the property.
Wayne Reid, P. Geo., a qualified person as defined in National In strument 43 -101, has
reviewed and approved the technical information contained in this news release.
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Figure 1: Leocor Gold holdings in the Baie Verte Peninsula, central Newfoundland, Canada
About Leocor Gold Inc.
Leocor Gold Inc is a British Columbia-based resource company involved in the acquisition
and exp loration of precious metal projects, with a current focus in Atlantic Canada.
Leocor, through outight ownership and earn-in agreements, currently controls over 1900-
hectares of contiguous, prime exploration ground in the prolific 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
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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
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.