Leocor Gold Inc. [LECR-CSE; LECRF-OTCQB; LGO-FSE] reported results of the 2021 exploration activities and 2022 exploration plans on the company’s Baie Verte project located near Anaconda’s Pine Cove mine and Rambler’s Ming mine in northwestern Newfoundland.
The 2021 work program included soil sampling, GT Probe sampling, geophysics, and a LiDAR and high-resolution drone imagery surveys. Highlights include multiple targets identified along 7 km northeast trending zone of anomalous gold in soils and a 4km subparallel trend of anomalous copper (+/- gold) in soils with results up to 1,601 ppb gold and 2862 ppm copper.
Indications of two styles of mineralization on the project including VMS style copper (+/-gold-zinc) mineralization and structurally controlled gold mineralization with similarities to the nearby Pine Cover Mine.
Based on the results of the 2021 program, Leocar is also planning a Phase 1 drilling campaign consisting of a minimum of 30 Rotary Air Blast (RAB) drill holes on at least 4 of the gold and copper targets. The RAB drill program is expected to commence in June 2022 and is designed to evaluate the targets for potential follow up diamond drilling. In addition to the RAB drilling the company is also planning to complete additional soil sampling, prospecting, geologic mapping, and geophysical surveys on the project.
Shawn Ryan, Leocor’s Technical Advisor, said, “The soil results over the Dorset Project were better than I could have predicted and really shows our project’s, and in a broader sense, Newfoundland’s, exploration potential. Here we have an area that has seen a lot of previous exploration work, from gold to base metal and the detailed 2021 soil program outlined a brand new 6.5-km mineralized gold trend that has not been previous seen. And the soil work also outlined a nice base metal copper-zinc target measuring 1,200 by 400 metres sitting directly across from the old Terra Nova base metal deposit. Having one of these anomalies is impressive but having two is exceptional. It should be an exciting year for Leocor with the planned follow up drilling.
“These results at Dorset and the larger Baie Verte project are very positive developments,” said CEO, Alex Klenman. “We’re eager to follow up on the discovery of the 7-km gold-copper trend and get drills going. The RAB program will help us vector in on the best diamond drill locations, and we want to move forward as quickly as possible. These are compelling targets and we’re committed to prioritizing our exploration plans at Dorset and the larger Baie Verte project.”
In addition to the soils, a total of 449 GT Probe samples were collected over 14 lines on the Copper Creek, Copper Creek South, and Dorset Trends. Assays for the samples ranged from trace to 1.97 g/t gold and from trace to 400 ppm copper.
The Dorset trend consists of a 2.5-km-long gold-in -oil anomaly located approximately 3 km south of the Baie Verte town site and extending from historic Dorset and Gunshot prospects (rock samples up to 57.2 g/t gold) to the southwest. The target has soil results of up to 1,601 ppb gold and includes 33 samples >100 ppb gold. Six GT Probe lines were also placed across the target and include results up to 1.19 g/t gold.
The FMB Trend (Five Mile Brook Trend) is characterized by a 2 km gold-arsenic (Au-As) soil trend that is 4 km SSW of Baie Verte and less than 1 km off of the main highway. This target has soil values of up to 1,536 ppm As and 263 ppb Au and is locally associated with anomalous molybdenum, antimony, and zinc. A rock sample returning 1.31 g/t gold was also collected along the trend.
Copper Creek Southwest is about 1 km southwest of the main Copper Creek trend, and consists of a 1.5-km gold-in-soil anomaly with samples up to 1,266 ppb gold. The Copper Creek Trend (Copper & Gold) is a 2-km-long southwest trending gold-in-soil anomaly with highs of 867 ppb gold. The northern area of the trend is defined by a 500 x 1,000-metre copper anomaly with highs up to 2,860 ppm copper that has association with anomalous Zinc.
The Copper Creek South target is located between Dorset and Copper Creek trends approximately 2 km south of Baie Verte, immediately north of the LaCie Highway. This area has soil results up to 416 ppb gold and 1,429 ppm copper.