Business
Leocor Mining Updates Investment In Intrepid Metals
Vancouver, British Columbia – TheNewswire - April 1, 2025 - Leocor Mining Inc. (the “Company” or “Leocor”) (CSE: LECR, OTCQB: LECRF; Frankfurt: LGO0) (formerly
About this update from Leocor Mining Inc.
[{"type":"text","content":"Vancouver, British Columbia – TheNewswire - April 1, 2025 - Leocor Mining Inc. (the “Company” or “Leocor”) (CSE: LECR, OTCQB: LECRF; Frankfurt: LGO0) (formerly Leocor Gold Inc.), a junior resource company focused on the exploration and development of precious metals projects in Eastern Canada, is pleased to provide an update on its capital investment in Intrepid Metals (TSX.V: INTR). In early 2024, the Company announced the completion (see Company news release dated January 8, 2024) of a CDN $3M strategic investment in Intrepid for the purpose of advancing Intrepid’s copper and gold projects in Arizona, specifically the Corral Copper project (“the Project” or “Corral”). On May 1, 2024, Intrepid announced initial drill results at Corral, located in Cochise County, Arizona. The results were impressive, with highlight near surface intercepts of 105.20 meters of 1.17% Copper (1.42% CUEQ) and 48.85 meters of 2.24% Copper (2.58% CUEQ). On May 14, 2025, Intrepid released additional results for a further five drill holes with a highlight intersection of 72.20 meters of 1.28% Copper within 198.00 meters of 0.68% CUEQ. On July 9, 2024, further impressive drill results were released from Corral, including 112.95 meters of 1.50% Copper, 0.53 grams per ton Gold and 8.22 gpt Silver (1.66% Copper Equivalent (\"CuEq\")) in Hole CC24_023 which included 63.40m of 2.57% Cu, 0.91 gpt Au and 14.14 gpt Ag (2.83% CuEq). Leocor’s initial investment resulted in the acquisition of 6,600,00 units of Intrepid at $0.34 per unit and 2,223.529 Special Warrants at $0.45. Leocor currently holds 8,823,529 shares of Intrepid with an approximate value of CDN $4.2M. In addition, the Company holds an additional 8,823,529 warrants exercisable at $0.45 until January 5, 2026. On a partially diluted basis Leocor’s ownership stake in Intrepid is approximately 26%. “Corral is a world class copper project, and we’re very pleased with the results to date,” said Leocor CEO, Alex Klenman. “Leocor would also like to congratulate Intrepid on yesterday’s announcement of the closing of an oversubscribed $5 million dollar financing. We look forward to the next round of drilling and are excited to watch the company’s continued development under the leadership and direction of their strong management and technical teams,”...