Vancouver, British Columbia – TheNewswire - June 04, 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 precious metals  projects in Eastern Canada, is pleased to announce it has commenced a soil sampling program at the Baie Verte project (“The Project”), a 2,002-ha contiguous gold-copper exploration package located on the north central coast of the island of Newfoundland in the province of Newfoundland and Labrador, Canada, has been completed.

 

Crews from Resourceful Geoscience Solutions have arrived to complete follow-up soil sampling on The Project's Five Mile Brook gold prospect. In 2021, the company undertook a preliminary soil sampling survey, which returned several anomalous results (See Company news release dated May 19, 2022), including two samples from one survey line that yielded 132 ppb Au and 163 ppb Au. This same survey line also concluded with an anomalous result of 85 ppb Au.

 

The 2021 survey collected B horizon soil at 25m spaced stations along 125m spaced parallel lines. The current follow-up survey aims to confirm the anomalism detected in 2021 through confirmatory duplicate sampling of sites that returned results exceeding 100 ppb Au, to extend the line to the northwest where the 2021 survey terminated with an 85 ppb Au sample, and to infill the survey line spacing adjacent to this survey line with new survey lines which close the sample line spacing to 60m.

 

Results from the recently completed 27-hole, 3040-meter winter drill program are expected shortly and the Company is pleased to report it has already begun preliminary planning for follow-up field activities.  All assay results will be released once received, reviewed and verified.

 

As reported in the March 25, 2025, Company news release, the completed drill program comprised 21 diamond drillholes totalling 2308.5 meters at the Copper Creek claims within the larger Baie Verte project ground. 18 of the 21 Copper Creek drillholes encountered chalcopyrite mineralization over various lengths and in various visually estimated abundances. Previously disclosed Copper Creek highlights included:

• 43.9m to 46.2m (2.3m length) in hole 25-CC-014 containing a visually estimated modal abundance of banded chalcopyrite of 15% with pyrite in visually estimated modal abundances of 10%. 

• 20m to 33.4m (13.4m drilled length) in hole 25-CC-012 containing blebby chalcopyrite in a visually estimated modal abundance of 1%. 

• 133.6m to 138m (4.4m drilled length) in hole 25-CC-007 containing blebby chalcopyrite in a visually estimated modal abundance of 3%. 

Holes 25-CC-015, -017, -019 and -020 intersected intervals of semi-massive pyrite over drilled lengths between 0.2m and 2.2m.  Figure 1 below, first released on March 3, 2025, illustrates an interval of semi-massive pyrite mineralization observed in drill hole 25-CC-017.

 

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Figure 1: Hole 25-CC-017 from 52.25m to 68.4m. Intervals of Semi-Massive pyrite mineralization are outlined in red.

The Company awaits assay results from 1671 samples from Copper Creek drilling.

 

Drilling at the Dorset gold prospect comprised six holes totalling 732 meters. Highlights of the Dorset drilling include intersecting a pyrite mineralized quartz vein with a drilled length of 1.1 meters in hole 25-DR-005 (Figure 2).

 

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Figure 2: Hole 25-DR-005 32.0m to 49.1m, featuring a 1.1m long pyrite mineralized quartz vein from 36.5m to 37.6m downhole, outlined in red.

The Company awaits assay results from 655 samples of drill core from Dorset drillholes.

 

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, a Standards Council of Canada (SCC) accredited laboratory.

  

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Figure 3: 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 ~2,000-hectare exploration corridor.  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.