Investments
Portfolio
In early 2024 the Company announced the completion (see Company news release dated January 8, 2024) of a CDN $3M strategic investment in Intrepid Metals for the purpose of advancing Intrepid’ s world class copper and gold projects in Arizona.
Leocor’s initial investment resulted in the acquisition of 6,600,00 units of Intrepid at $0.34 per unit and 2,233.529 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 6,600,000 warrants exercisable at $0.45 until January 5, 2026.
On a partially diluted basis Leocor’s ownership stake in Intrepid is approximately 26%.
Highlights from drill holes include:
· 112.95 meters (“m”) of 1.50% Copper (“Cu”), 0.53 grams per ton (“gpt”) Gold (“Au”) and 8.22 gpt Silver (“Ag”) (1.66% Copper Equivalent (“CuEq”)1 ) in Hole CC24_023
o including 63.40m of 2.57% Cu, 0.91 gpt Au and 14.14 gpt Ag (2.83% CuEq1)
o 13.40m of 6.72% Cu, 1.49 gpt Au and 46.93 gpt Ag (6.90% CuEq1) and
o 1.40m of 20.20% Cu, 8.51 gpt Au and 250.00 gpt Ag (23.85% CuEq1).
· 64.95m of 0.84% Cu, 0.35 gpt Au and 2.83 gpt Ag (0.96% CuEq1 ) in Hole CC24_025
· including 15.65m of 1.55% Cu, 0.55 gpt Au and 2.52 gpt Ag (1.71% CuEq1)
· and 3.80m of 2.75% Cu, 1.07 gpt Au and 8.25 gpt Ag (3.13% CuEq1).
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TSXV: INTR
