Overview

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.”

The company’s district-scale portfolio covers 153,000 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.

In 2022, Leocor Gold entered into an option agreement to purchase the Joes Lake Property consisting of a 300-hectare exploration-stage parcel also located in Newfoundland.

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
• Leocor Gold has an option agreement to purchase the Joes Lake Property consisting of a 300-hectare exploration-stage parcel also located in Newfoundland.
• Acclaimed prospector Shawn Ryan leads the exploration team, and his track record of uncovering mineralizations resulting in millions of ounces of gold strengthens 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