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Leocor Gold Completes Phase 1 Soil Campaign at Hodges Hill Project, North Central Newfoundland, Canada
Vancouver, British Columbia - TheNewswire - January 20, 2022 - Leocor Gold Inc. (the “Company” or “Leocor”) (CSE:LECR) (CNSX:LECR.CN) (OTC:LECRF) (FRA:LGO) is p
About this update from Leocor Mining Inc.
[{"type":"text","content":"Vancouver, British Columbia - TheNewswire - January 20, 2022 - Leocor Gold Inc. (the “Company” or “Leocor”) (CSE:LECR) (CNSX:LECR.CN) (OTC:LECRF) (FRA:LGO) is pleased to announce the completion of a soil sampling campaign, consisting of 4583 soils, on the Hodges Hill Property, consisting of nine mineral licenses totaling 1562 claims and covering 39,050 hectares (390 square km) in the southwest corner of the Western Exploit District, north central Newfoundland, Canada. This campaign forms part of a comprehensive phase one exploration program on the grassroots-stage property. The claims are host to distinct magnetic high units (Gabbros) in settings indicative of known regional gold occurrences. These rocks are associated with continental volcanism. Gabbros have long been recognized as being directly associated with gold mineralization in the Baie Verte area in occurrences such as Anaconda Mines Pine Cove deposit and more recently, the 2014 discovery by Anaconda of the Stog’er Tight and Argyle showings. The project covers major regional NE and NNW structures outlined by the regional NFLD airborne magnetic surveys. Anomalous government till sampling programs have identified gold and arsenic anomalies associated with these regional structures. The overall distribution of soils from this 2021 Leocor campaign is illustrated in Figure 1. Leocor is working with GroundTruth exploration on the program which we expect to define a significant mineralized footprint. The GroundTruth method breaks down the exploration process into phases, typically defined as follows: Phase 1) Soils 100 m line separation and 25 m sampling separation Aeromagnetic and VLF survey Lidar Survey Ground Magnetic survey Phase 2) GT Probe Drilling (around areas of interest constituting potential targets) Induced Polarization across potential drill targets Phase 3) GT Rab Drilling (typically 60m holes in fences across shallow targets) Phase 4) Diamond or Reverse Circulation drilling (once structure and orientation of target are well defined) It has recently come to light that the Central Newfoundland Gold Belt is prospective for high-grade gold associated with strong northeast trending regional structures. High-grade gold at New Found Gold’s Keats showing and Labrador Gold’s Big Vein target were originally discovered ...