Leocor Ventures reviews exploration targets at the Dorset Gold Project, Newfoundland, Canada
Leocor Ventures Inc.
Suite 303, 750 West Pender Street
Vancouver, BC V6C 2T7
LEOCOR VENTURES REVIEWS EXPLORATION TARGETS AT THE DORSET GOLD
PROJECT, NEWFOUNDLAND, CANADA
Vancouver, British Columbia – May 11, 2020 - Leocor Ventures Inc. (the "Company" or
"Leocor") is Leocor Ventures Inc. (the "Company" or "Leocor") (CSE: LECR) is pleased to
announce that it has begun a comprehen sive review of av ailable data on the Dorset Gold
Project, located in North Central Newfoundla nd, Canada. The Company is currently
implementing the review as a preliminary step in formulating budgets and work plans for
its 2020 exploration programs.
Phase one exploration is anticipated to con centrate in and around known quartz vein s
with strong historical show ings, and may include additional prospecting, sampling, soil
geochemistry, and channel sampling , in and around known quartz vein s with strong
historical showings.
The Dorset # 1 vein is comprised of two narrow, discontinuous quartz veins, trenched for
60m along strike. The western vein varies from 2 to 15 cms in width and contains visible
gold, pyrite and galena. Grab samples collected from this vein assayed up to 409 grams-
per-tonne (“g/t”) gold (“Au”) and channel samples of 177 g/t Au over 0.35m; 56 g/t Au
over 2.5m, and 41.6 g/t Au over 1.5m (Noranda assessment reports).
The Dorset # 2 vein system is located 37 m west of the Dorset # 1 vein. It is the most
significant of the veins and has been trenched and tested by diamond drilling over a strike
length of 110 m. Further trenching and limited diamond drilling have indicated a minimum
strike length of 400m and may extend up to 900m (Dorset Extension).
2
Mineralization comprises of visible gold, pyrite, galena, chalcopyrite, bornite and minor
sphalerite and arsenopyrite. Diamond d rilling has confirmed the presence of high-grade
gold grades.
“Dorset has an excellent history and we’re eager to begin our exploration eff orts there,”
said CEO, Alex Klenman. “There are a number of areas we ’re interested in testing, so the
current review w ill help us prioritize our drilling targets . We know there ’s high -grade
mineralization present so the goal is to expand the known occurrences and add to the drill
target inventory,” continued Mr. Klenman.
Further details re garding 2020 explorati on prog rams at t he Dorset Go ld Project will be
announced in the coming weeks.
About the Dorset Gold Project
The Dorset Gold Project is a 275 -ha gold exploration project, located south of the Pine
Cove Gold Mine, in the Baie Verte Mining Distric t, north central Newfoundland, Canada,
with multiple zones of high -grade gold mineral ization. The Main Zone includes three
historic occurrences, with up to 409 grams-per-tonne g/t Au in grab samples, with channel
sampling results of 177 g/t Au over 0.35 metre, 22 g/t Au over 1.5m, 17.2 g/t Au over 1.5m
and 14.7 g/t Au over 1.5 m. Historic drilling includes DDH 87 -1, which intersected 9.5 g/t
Au over 1.3m* (MacDougall, 1990).
Historic select sampling at the Braz Zone returned values of 314 g/t Au, 40 g/t Au, 31.4 g/t
Au, 21.2 g/t Au, 19. 2 g/t Au and 14.8 g/t Au. Historic channel sampling across the vein
returned 9.5 g/t Au over 0.4 m, 5.7 g/t Au over 0.5 m and 1.2 g/t Au over 0.65m. Weighted
averages of historic rock sampling encompassing v ein and mineralized wall rock r eturned
values of 5.8 g/t Au over 1.9 m, 3.1 g/t Au over 2m and 2.5 g/t Au over 1.5 m (MacDougall,
1990).
Other zones include: The Albatross, whe re historic rock sampling of mineralized zones
returned values up to 9.6 g/t Au and locally up to 30.3 g/t Au. As say results from thr ee
1987 diamond dr ill holes include 1.0 g/t Au over 7.3 m, 1.81 g/t over 4.3 m and 1.02 g/t
over 2.2m; the Phoenix Zone, where grabs of altered gabbro assayed up to 5.8 g/t Au, 5.5
g/t Au and 3.3 g/t Au , and diamond drill hole intersectio n of 1.07 g/t Au ove r 5.45m; and
the Gunshot Zone, where veins contain ing visible gold and pyrite returned grab samples
that assayed up to 162 g/t Au and channel samples that assayed up to 18 g/t Au over 0.4m
(MacDougall, 1989).
3
*The reported drill intercept is an intersected length and is not a true width.
About Leocor Ventures Inc.
Leocor is a British Columbia-based company involved in the acquisition and exploration of
precious metal projects, with a focus in Cana da. Leocor is a reporting issuer in Bri tish
Columbia, Albe rta and O ntario, and has its common shares listed for trading on the
Canadian Securities Exchange under the symbol "LECR".
Contact Information
Leocor Ventures Inc.
Alex Klenman, Chief Executive Officer
Email: [email protected]
Telephone: (604) 681-0084
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 LOI or at
all; Leocor's ability to exercise the Option; the expected timing and terms of 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; 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
4
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.