Precious Metals

(TheNewswire)

Leocor Gold Inc.

Vancouver, British Columbia TheNewswire - October 5, 2022 - Leocor Gold Inc. (the " Company " or " Leocor ") (CSE:LECR ) ( OTC:LECRF) is pleased to announce that it has entered into an option to purchase agreement (the " Option Agreement "), dated September 14, 2022, with an arms-length party(the " Vendor "), pursuant to which it has been granted the right to acquire the Joes Lake Property (the " Property ").  The Property consists of a 300-hectare exploration-stage parcel located in the Province of Newfoundland.

Pursuant to the Option Agreement, the Company can acquire the Property by completing a series of cash payments and share issuances to the Vendor and incurring exploration expenditures on the Property over a six-year term, as follows:

Cash Payments

Share Issuances

Exploration Expenditures

On Closing

$7,500

30,000

First Anniversary

$10,000

50,000

$10,000

Second Anniversary

$10,000

75,000

$10,000

Third Anniversary

$15,000

100,000

$15,000

Fourth Anniversary

$25,000

150,000

$15,000

Fifth Anniversary

$32,500

250,000

$25,000

Sixth Anniversary

$25,000

Total

$100,000

655,000

$100,000

Assuming the Company exercises the option and acquires the Property, it will remain subject to a two percent (2.0%) net smelter returns royalty in favour of the Vendor on commercial production from the Property.  One-half (1.0%) of the royalty can be purchased from the Vendor at any time by completing a one-time cash payment of $1,000,000.

All common shares issued to the Vendor will be subject to a four-month-and-one-day statutory hold period in accordance with applicable securities laws.  No finders' fees or commissions are owing by the Company in connection with the entering into of the Option Agreement.

About Leocor Gold Inc.

Leocor Gold Inc. is a British Columbia-based resource company involved in the acquisition and exploration of precious metal projects, with a current focus in Atlantic Canada.  Leocor, through outright ownership and earn-in agreements, currently controls several gold-copper projects in prime exploration ground located within the prolific Baie Verte Mining District.  Leocor's Bae Verte portfolio includes the Dorset, Dorset Extension, Copper Creek and Five Mile Brook projects, creating a contiguous nearly 2,000-hectare exploration corridor.  The Company also controls the 6,847-ha grassroots Startrek project near Gander, as well as three district scale land packages in North Central Newfoundland, known as Robert's Arm, Hodge's Hill, and Leamington, (collectively "Western Exploits") representing over 144,000 hectares (1,440 square kilometers) of prospective exploration

Contact Information

Leocor Gold Inc.

Alex Klenman, Chief Executive Officer

Email : aklenman@leocorgold.com

Telephone : (604) 970-4330

Neither the Canadian Securities Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release .

Copyright (c) 2022 TheNewswire - All rights reserved.

News Provided by TheNewsWire via QuoteMedia

LECR:CC
Leocor Gold (CSE:LECR)

Leocor Gold


Keep reading...Show less
Red Pine discovers two high-grade structures: Intersects 5.57 g/t gold over 8.51 m west of the Surluga Deposit and 10.18 g/t gold over 4.89 m south of the Sadowski Zone

Red Pine discovers two high-grade structures: Intersects 5.57 g/t gold over 8.51 m west of the Surluga Deposit and 10.18 g/t gold over 4.89 m south of the Sadowski Zone

Red Pine Exploration Inc. (TSXV: RPX) (OTCQB: RDEXF) (" Red Pine " or the "Company") is pleased to report new results from its 2022 exploration program. Red Pine continues to expand the footprint of mineralization outside the current resource of the Surluga Deposit and quantify additional gold bearing structures on the property.

The exploration program of Red Pine continues to validate the presence of a large gold system on the Wawa Gold Project.

News Provided by PR Newswire via QuoteMedia

Keep reading...Show less
Fabled Silver Gold Corp Announces Results of Annual General Meeting And Closing of Private Placement

Fabled Silver Gold Corp Announces Results of Annual General Meeting And Closing of Private Placement

Fabled Silver Gold Corp. ("Fabled" or the "Company") (TSXV:FCO)(OTCQB:FBSGF)(FSE:7NQ) is pleased to announced that all proposed resolutions were approved at the Company's Annual General Meeting of Shareholders held on October 27, 2022

Shareholders voted in favor of all the resolutions proposed by the Board of Directors and management of the Company. A total of 33,569,956 common shares were voted, representing 15.62% of total shares issued and outstanding as of the record date.

News Provided by ACCESSWIRE via QuoteMedia

Keep reading...Show less
Prismo Metals Announces Palos Verdes Drilling Results and Corporate Update

Prismo Metals Announces Palos Verdes Drilling Results and Corporate Update

Additional Drilling Planned at Palos Verdes in January 2023

 Prismo Metals Inc. (CSE: PRIZ) (OTCQB: PMOMF) (the "Company" or "Prismo") is pleased to announce assay results for the first five holes in the recent drilling program at its Palos Verdes project, located in the historic Panuco-Copala district of the state of Sinaloa, Mexico. Assays for the last three holes of the 2022 drilling campaign are expected by the end of December.

News Provided by Newsfile via QuoteMedia

Keep reading...Show less
Maxwell Gold Property Geophysical Survey Commences and JMW Property Diamond Drilling to Begin, Chapais-Chibougamau Area, Quebec

Maxwell Gold Property Geophysical Survey Commences and JMW Property Diamond Drilling to Begin, Chapais-Chibougamau Area, Quebec

Newfoundland Discovery Corp. (CSE: NEWD) (OTC PINK: NEWDF) (FSE: M4K) ("Newfoundland Discovery" or the "Company") is pleased to announce that a 1,000-line kilometre airborne Triaxial Gradient Magnetometer ("MAG") survey has commenced on the Maxwell gold property ("Maxwell") in the Chapais-Chibougamau area of Quebec (see location map below). The MAG survey will cover the entire 9,400-hectare property.

Maxwell is a project that the Company entered into an option agreement with Gitennes Exploration Inc. (TSXV: GIT) to acquire up to an 85% interest in on November 3rd, 2022. The project is situated between two of Iamgold Corporation's properties with the Monster Lake high grade gold property six km to the east (see Figure 1). Maxwell has several occurrences of gold in both the fine and heavy fraction of glacial tills and the gold in tills is associated with mapped structures. The structures are northeast trending, similar to Iamgold's Nelligan property. Maxwell has seen very little exploration and several EM geophysical anomalies remain untested.

News Provided by Newsfile via QuoteMedia

Keep reading...Show less
Red Pine discovers two high-grade structures: Intersects 5.57 g/t gold over 8.51 m west of the Surluga Deposit and 10.18 g/t gold over 4.89 m south of the Sadowski Zone

Red Pine discovers two high-grade structures: Intersects 5.57 g/t gold over 8.51 m west of the Surluga Deposit and 10.18 g/t gold over 4.89 m south of the Sadowski Zone

Red Pine Exploration Inc. (TSXV: RPX, OTCQB: RDEXF) ("Red Pine" or the "Company") is pleased to report new results from its 2022 exploration program. Red Pine continues to expand the footprint of mineralization outside the current resource of the Surluga Deposit and quantify additional gold bearing structures on the property.

The exploration program of Red Pine continues to validate the presence of a large gold system on the Wawa Gold Project.

News Provided by GlobeNewswire via QuoteMedia

Keep reading...Show less
Alianza partner Allied Copper intersects 4.26% Copper over 1.06 metres at West Graben Fault Target, Klondike Property, Colorado

Alianza partner Allied Copper intersects 4.26% Copper over 1.06 metres at West Graben Fault Target, Klondike Property, Colorado

(TheNewswire)

Alianza Minerals Ltd

Vancouver, BC, TheNewswire , November 30, 2022 - Alianza Minerals Ltd. ("Alianza") (TSXV:ANZ ) , ( OTC:TARSF) and Cloudbreak Discovery PLC ("Cloudbreak") (LSE: CDL) (the " Alliance ") are pleased to announce results of the first modern drill test of the Klondike property, funded by partner Allied Copper Corp. ("Allied") (TSX-V: CPR) , under the terms of its earn-in agreement with the Alliance. Five holes were completed testing the Northeast Fault (2 holes), West Graben Fault (2 holes) and East Graben Fault (1 hole) targets. Hole KDB22-05 tested a strand of the West Graben Fault yielding long intersections of alteration and 42 metres of anomalous copper mineralization in a halo surrounding a fault intersection of 4.26% copper over 1.06 metres. Management interprets this result to indicate strong potential for copper mineralization on the main strand of the West Graben Fault. The Klondike Property consists of 76 unpatented mining claims, a State of Colorado Exploration Permit and an exclusive right to a State lease.

News Provided by TheNewsWire via QuoteMedia

Keep reading...Show less

Latest Press Releases

Related News

×