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Wednesday, November 29, 2023

Leocor Gold


Gold is once again drawing the attention of investors as prices continue to rise, recently surging above US$2,000. Many investors are looking beyond commodity trading and placing their bets on gold mining companies to further capitalize on this upward trend. This has shifted the focus to proven gold mining jurisdictions, such as Nevada’s booming gold mining industry. Yet, while Nevada is well known for gold — there’s new jurisdiction that’s quickly gaining traction — one that is severely underexplored: Newfoundland and Labrador.

Mining companies are flocking to the region hoping to find the next big deposit. Over 80,000 claims were staked in Newfoundland between January 2021 and July 2021. The presence of gold in Newfoundland has been known since the 1980s, but due to the price of gold at the time, companies walked away from promising exploration results. Now, improved exploration technology and a soaring gold price is making the mining world take a second look at Newfoundland, and it likes what it sees. Billionaire Eric Sprott recently invested in multiple junior gold mining companies, including four exploration companies in Newfoundland, attracting even more attention to the province.

Discoveries made by legendary prospector Shawn Ryan are partially responsible for the renewed interest in Newfoundland. Ryan is directly responsible for the discovery of millions of ounces of gold in the Yukon, where he worked for decades. But now Newfoundland has caught his attention after his signature soil-sample technique yielded promising results. Coupled with intriguing discoveries made by other mining companies, Newfoundland is experiencing a historic gold rush. Even though Ryan found success in the Yukon, he recently said, “If I was 25 years younger and I found Newfoundland first instead of the Yukon, I’d be in Newfoundland.”

Leocor Gold (CSE:LECR, OTC:LECRF, FRA:LGO) is a junior exploration and development company focused on undervalued and underexplored gold projects throughout Newfoundland and Labrador, Canada. The company believes in the upside potential of the undiscovered or underdeveloped gold mineralizations within its three district-scale holdings spread throughout the region. On top of acquiring promising assets, the company is led by a strong management team with extensive experience in the mining industry, including the renowned prospector, Shawn Ryan.

Recent coverage from an investment firm shed light on Ryan’s reputation in the industry, stating, “Everybody who knows Shawn knows he’s a world-class prospector. He has had an illustrious career in the mining space, he helped discover several deposits and usually does the early-stage work. He goes around and stakes big claims out. He’s been active in the Yukon and has now moved over to Newfoundland and has taken a special interest in the emerging gold story that’s developing.”

The company’s district-scale portfolio covers 152,822 hectares of potential gold claims in three notable, yet separate, mining districts: The Western Exploit District, Baie Verte District, and the Gander District. Historic exploration data has already confirmed multiple high-grade gold mineralizations, while Ryan’s exploration data suggest new discoveries in entirely unexplored territory.

Alex Klenman, CEO, explained why the company is so optimistic about its holdings during an interview with INN, “Very few places on the planet, where you’re going to find such an underexplored geologically favorable theater to work in. And we get that in Newfoundland.”

Leocor Gold’s flagship project is within the Baie Verte District. Known as the Dorset Project, this asset contains two notable mineralized quartz veins, which are often indicative of gold deposits. Dorset encompasses 600-hectares with known occurrences of gold mineralizations, including extensive surface showings. Additionally, other projects within the district have promising historic results alongside new encouraging exploration data.

The company is led by an experienced management team with decades of experience in the mining industry. Shawn Ryan is leading the exploration charge as a technical advisor, while CEO Alex Klenman brings 30 years of experience in business development, finance, marketing and corporate communications. Heidi Gutte, CFO, brings her expertise in corporate financing, taxation and overall accounting experience to the company. Alexander Stares and Newman Wayne Reid, directors, both have decades of experience in exploration and mining to add additional expertise to the team.

​Company Highlights

  • Leocor Gold is focused on cultivating its impressive asset portfolio of unexplored and underdeveloped gold projects within Newfoundland and Labrador
  • The company’s asset portfolio covers a combined 144,000 hectares of prospective gold claims covering three notable mining districts: Baie Verte District, the Western Exploit District and the Gander District. Each district contains multiple individual projects with exciting new and historic exploration data
  • The Dorset Project, located within Baie Verte, is the company’s flagship project due to the confirmed presence of quartz mineralization veins and abundant surface showings
  • Acclaimed prospector Shawn Ryan leads the exploration team, and his track record of uncovering mineralizations resulting in millions of ounces of gold strengthen confidence in the company’s future
  • In addition to Ryan, the rest of the management team brings decades of experience in their respective fields, including corporate management, financing and mining exploration

​Key Projects

Baie Verte District

Covering a combined 2,000 hectares, multiple areas containing gold occurrences have been identified and are currently being explored for further analysis. Leocor Gold’s holdings within this district are in North Central Newfoundland and surrounded by other mine operators and developers, including Rambler Metals & Mining (AIM:RMM) and Maritime Resources (TSXV:MAE).

Project Highlights:

  • Dorset Gold Project and Dorset Extension: This project is located immediately south of the Pine Cove Gold Mine and includes a recent extension of 325 hectares. As the company’s flagship project, Dorset’s main zone has three historic gold occurrences with up to 409 g/t gold found in grab samples. Channel sampling results revealed 177 g/t gold over 0.35m, 22 g/t gold over 1.5m, 17.2 g/t gold over 1.5m, and 14.7 g/t gold over 1.5m. Historic drilling also indicates 9.5 g/t gold over 1.3m.
  • Copper Creek Project: Copper Creek is located in the north-central portion of the Baie Verte Peninsula and extends to a mere 1.6 kilometers of the active Pine Cove gold mine. Past assays include a channel sample of 3.9 g/t gold over 4m and 16 g/t gold grab samples. Copper is also present in the area, which often occurs alongside gold.
  • Five Mile Brook Project: Eight claims comprise the Five Mile Brook Project that is contiguous to the Dorset Gold Project. Non-contiguous historic samples returned assays indicating the strong presence of copper and gold, including 1.63% copper and 0.56 g/t gold, 226 g/t silver, and 0.28% zinc.

Western Exploit District

Shawn Ryan introduced Leocor to the Western Exploit District, which covers 144,000 hectares right in the heart of Newfoundland. The claims in this district are home to distinct magnetic high units in settings that indicate regional gold occurrences. The three projects found within the Western Exploit District cover multiple favorable corridors conducive to gold mineralizations in 5,760 mineral claims, which are covered by 37 licenses.

Project Highlights:

  • Robert’s Arm Project: Limited historical exploration uncovered four gold occurrences that were discovered in the late 1980s. The NFLD Government conducted regional till surveys after the 80s that indicate anomalous gold and arsenic, but these tills have never been investigated. This project is a rare opportunity as the majority of the claim block has never been explored for gold.
  • Leamington Project: As the largest of the Western Exploit District projects, the claim covers 16 mineral licenses for a total of 2,492 claims that cover 62,300 hectares. Highway 350 runs through the project, while Highway 352 runs along the western side, providing multiple transportation options as the project is developed. Much like Robert’s Arm, the Leamington Project has seen limited gold exploration. A small exploration program in 2004 uncovered 2 gold showings with grab samples ranging from 2 to 5 g/t gold.
  • Hodges Hill Project: Spanning 38,050 hectares, this project covers 9 mineral licenses for a total of 1,562 claims or 39,050 hectares. A forestry road runs through 8 of the 9 licenses, facilitating future access and transportation. This project hosts a Pyroxene Gabbro, which is recognized as being associated with gold mineralizations. Most of the project area has never had a claim staked on it, despite an anomalous gold and arsenic mineralization discovered by an NFLD till sampling.

Gander District

New exploration surveys making use of modern technology defined numerous bedrock conductors that suggest semi-massive sulfides. When considered alongside historical data, new targets have been identified for further exploration.

Project Highlights:

  • Startrek Project: Spread across 6,847 hectares and only 20 kilometers south of the town of Gander, this project is currently in grassroots-stage mineral exploration. Three zones have been identified as areas of interest: Western, Central and Eastern. Over 50 gold occurrences have been identified due to historic trenching and grab samples. The Western Zone features a gold mineralization with grab samples up to 3.5 g/t gold, while the Eastern Zone’s assays average 130 ppg gold. Grab samples in the Central Zone reached up to 40 g/t gold.

​Management Team

Shawn Ryan – Technical Advisor

Shawn Ryan began his career in exploration in the early ’80s working with the Kidd Creek Exploration geophysics team and various other local contracting firms. In 1996, while living in Dawson City, Yukon, he decided to try his luck as a prospector. He focused his prospecting in the Dawson District looking for the sources of alluvial gold. His research led to perfecting a deeper soil sampling technique that became a Yukon industry standard. Ryan received the Spud Huestis Award for excellence in prospecting and mineral exploration from AME BC in 2010 for the White Gold Discovery. In 2011, a New York Times profile went so far as to christen Ryan ‘the king of a new Yukon Gold rush’, he was also honored that year with the Bill Dennis, Prospector of the Year Award by the PDAC for his prospecting success that led to the discovery on the White Gold Property and the Coffee Projects, now owned by Newmont.

Alex Klenman – CEO & Director

Alex Klenman brings over three decades of both public and private sector business development, finance, marketing, branding, media, and corporate communications experience as CEO of Leocor Ventures. After a decade in private sector media-related positions, which included notable board positions with CKVU Television and Canwest Pacific Television in Vancouver, he began his career in the public markets in the late 1990s serving in business development and communications roles for publicly listed Internet and tech companies. Over the past decade Mr. Klenman has held senior management, consulting roles, and board positions with multiple TSX Venture and CSE listed companies. As a consultant, he worked closely with well-known TSX Venture listed resource companies such as Roxgold Inc., Integra Gold, and Forum Uranium, and currently, he holds board and senior management positions with several publicly traded resource companies, including Nexus Gold Corp, Azincourt Energy, Arbor Metals Corp, Manning Ventures, Tisdale Resources, Cross River Ventures Corp. and others.

Heidi Gutte – CFO

Heidi Gutte specializes in providing corporate finance, financial reporting, consulting, taxation and other accounting services to both small businesses as well as public companies in various industries. She also assists in many aspects of clients’ administration, corporate compliance and other activities. Gutte earned her bachelor’s degree of computer engineering from the University of Applied Sciences in Brandenburg, Germany. She holds the professional designation of chartered professional accountant (CPA, CGA) and is a member of Chartered Professional Accountants of British Columbia and Canada. Ms. Gutte has had extensive experience as a controller and chief financial officer of numerous publicly traded and private corporations in several industries.

Alexander “Sandy” Stares – Director

Alexander Stares has over 25 years of experience in mineral exploration, spanning a variety of Canadian geological terranes, from Newfoundland to the Yukon. He has also completed several tours prospecting in Indonesia and Mexico. Prior to forming his own Contracting Company, Stares Prospecting Ltd., Mr. Stares worked with IndoMetals, Rubicon Minerals Corporation, Freewest Resources of Canada, New Millenium, Lac Des Isle Mines, and Noranda. He was instrumental in the discovery of the H-Pond Gold Prospect and the Lost Pond Uranium Prospect. He also discovered numerous major mineral occurrences in Canada and abroad which have been the subject of extensive exploration programs. Stares has served as President and CEO of Metals Creek Resources Corp. since December of 2007 and is also currently a director of White Metal Resources Corp., a director of the Qalipu Development Corporation and an alternate Director of the Newfoundland and Labrador Prospectors Association. In February of 2013, Stares was awarded the Queen Elizabeth II, Diamond Jubilee Medal, for his dedication to his Peers, Community, Canada and the Prospecting Community. He was also one of the recipients of the PDAC “Bill Dennis Prospector of the Year” Award in March of 2007.

Newman Wayne Reid – Director

Waye Reid has over 40 years of experience in exploration and mining geology, spanning a variety of geological terrains, from Newfoundland to Northern B.C. and Alaska. He has held senior positions with various public companies and projects in the business of mining and exploration, including Noranda Inc., Hemlo Gold Mines, Echo Bay Mines Ltd. and St. Andrew Goldfields Ltd. Mr. Reid was part of the team involved in the discovery of the Brewery Creek Gold Deposit in Yukon Territory and the Boundary Massive Sulfide Deposit / Duck Pond Mine in Central Newfoundland. His experience includes gold, base metal and uranium/REE exploration in most geological environments in North America. He has over 20 years with the Noranda / Hemlo group in the capacity of District and Regional manager across Canada. Reid holds a BSc. in Geology from Memorial University in Newfoundland and has a Professional Geologist designation from Professional Engineers and Geoscientists – Newfoundland and Labrador. He has been a director and senior officer with several junior exploration companies and is currently serving as a director of Manning Ventures Inc. and Metals Creek Resources Corp. and as Vice President of Exploration of Quadro Resources Ltd.

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