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Leocor Gold to Undertake a Comprehensive Phase 1 Exploration Program at Baie Verte District, North Central Newfoundland, Canada
Vancouver, British Columbia - TheNewswire – August 12, 2021 - Leocor Gold Inc. (the “Company” or “Leocor”) (CSE:LECR) (CNSX:LECR.CN) is pleased to announce plan
About this update from Leocor Mining Inc.
[{"type":"text","content":"Vancouver, British Columbia - TheNewswire – August 12, 2021 - Leocor Gold Inc. (the “Company” or “Leocor”) (CSE:LECR) (CNSX:LECR.CN) is pleased to announce plans to begin a comprehensive phase one exploration program at its consolidated Baie Verte project portfolio, located in north central Newfoundland, Canada. The Baie Verte project combines the Dorset, Dorset Extension, Five Mile Brook and Copper Creek projects, consisting of fourteen mineral licenses, totalling 80 claims, and covering 1995 hectares (19.95 square km). Current and historical surface work shows a semi-continuous N-NE strike length of alteration and mineralization between the Five mile Brook South prospect to the Tidewater Prospect. Leocor will be working with GroundTruth exploration on the program which will unify the projects with a common soil database and holistically define what we expect to be 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 Air magnetic survey Lidar Survey VLF 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) The Baie Verte District is generally perceived to be at a phase 1 stage but because of the more advanced status of certain parts of the project we have budgeted phases 2 and 3 with GT Probe, GT Rab holes, the locations of which are still to be planned. The planned program is budgeted for 710,000 CA$ and consists of: Phase 1 171 Line Km of ground magnetic 4943 soil samples 20 Km2 Airborne Lidar survey Phase 2 5,000 m of Induced Polarization 585 GT Probe samples Phase 3 15 short, 60 m Rab holes The distribution of planned work is illustrated in image 1. Image 1A shows ground magnetic lines, soil lines and IP lines over topography and relative to a selection of some of the more important mineral occurrences on the property. Image 1B shows the same data over the district geology. The Baie Verte peninsula is a prolific gold and base metal district and much of the gold in Newfoundland appear...