- VMS Mineralized System Confirmed
Vancouver, British Columbia – July 8, 2025 – Leocor Mining Inc. (the “Company” or “Leocor”) (CSE: LECR, OTCQB: LECRF; Frankfurt: LGO0) (formerly Leocor Gold Inc.), a junior resource company focussed on the exploration and development of precious metals projects in Eastern Canada, is pleased to report final assay results from its recently completed maiden drilling program at the Copper Creek prospect, located within the Company’s 2,002-ha contiguous Baie Verte gold-copper exploration package. The Baie Verte project (“The Project”) is situated on the north central coast of the island of Newfoundland in the province of Newfoundland and Labrador, Canada.
The complete geochemical results received June 27, 2025, from SGS Canada, support preliminary interpretations that Copper Creek represents the stockwork feeder zone of a Volcanogenic Massive Sulphide (“VMS”) mineralizing system. In addition to stockwork chalcopyrite mineralization the program identified additional hallmarks of VMS systems including anomalous zinc mineralization and lenses of massive and semi-massive pyrite.
Copper Highlights Include:
- 3.6m of 1.49 % Cu Including 0.9m of 3.22 % Cu within 6.1m of 0.99 % Cu in hole CC-25-001 beginning at 31.7m downhole
- 6.6m of 0.44 % Cu Including 0.6m of 1.97 % Cu in hole CC-25-002 beginning at 15.2m downhole
- 3.6m of 0.66 % Cu Including 1.8m of 0.92 % Cu Within 6.0m of 0.45 % Cu in hole 25-CC-006 beginning at 19.0m downhole.
- 4.1m of 0.56 % Cu Including 1.4m of 1.43 % Cu in hole 25-CC-014 beginning at 45.7m downhole.
Zinc highlights include:
- 3.0m of 0.34 % Zn Including 1.0m of 0.69% Zn in hole 25-CC-006 beginning at 47m downhole.
Further significant results from the drilling program are presented in Table 1, and an image of Chalcopyrite mineralization from hole 25-CC-002 is presented below in Figure 2. Figure 3 displays significant intercepts from holes 25-CC-014 and 25-CC-015 in cross section.
Modelling work is underway to place these results within the geological context of the project and the Company is planning follow-up exploration activities to evaluate the potential of this mineral system.
“We are excited and encouraged by these results. Copper Creek’s maiden diamond drilling program has succeeded in identifying a VMS mineralization system at Copper Creek confirming the favorable geological setting at our Baie Verte Project,” said Leocor CEO, Alex Klenman. “There is much work ahead of us to now fully evaluate the potential of the VMS system and we’re eager to get boots back on the ground to follow up this discovery,” continued Mr. Klenman.
The Baie Verte Peninsula has a well documented mineral endowment which includes several past producing VMS mines. Bedrock geology of the project area includes mafic volcanic and metasedimentary sequences of the Notre-Dame Subzone of the Dunnage Zone of the Newfoundland Appalachians. The Notre-Dame Subzone is characterized by Ordovician submarine bimodal volcanics, metasedimentary rocks and ophiolite sequences from a volcanic arc environment. This geological setting is consistent with the development of exhalative and replacement type VMS deposits. The most notable occurrences within the Notre Dame Subzone on the Baie Verte Peninsula include the past producing Terra Nova, Rambler, and Tilt Cove Mines. Figure 1 below outlines notable mineral deposits within the Baie Verte Peninsula.
Figure 1. Notable Mineral deposits on the Baie Verte Peninsula
Copper Creek Drilling
In March of 2025 the company completed a campaign comprising 21 diamond drillholes totalling 2308.5 meters at Copper Creek. The program was designed to follow up on significant and widespread copper anomalism in soils and shallow Rotary Air Blast Drilling completed by the company in 2022. The 2025 program represents the maiden diamond drill program on the Copper Creek prospect. Drillhole Collar information is detailed in Table 1.
Figure 2: Chalcopyrite mineralization at 15.75m downhole length in hole 25-CC-002, Copper Creek project, Baie Verte.
Figure 3: Cross section of holes 25-CC-014 and 25-CC-015 displaying significant intercepts
Table 1. Drillhole Collar information for the 2025 Copper Creek diamond drilling program
| Hole ID | Easting | Northing | Dip | Azimuth | Length |
| 25-CC-001 | 556656.4 | 5529618.4 | -45 | 120 | 194 |
| 25-CC-002 | 556657.4 | 5529617.8 | -70 | 120 | 119 |
| 25-CC-003 | 556699.7 | 5529594.9 | -50 | 120 | 74 |
| 25-CC-004 | 556701.7 | 5529593.3 | -70 | 120 | 110 |
| 25-CC-005 | 556722.0 | 5529693.2 | -50 | 120 | 110 |
| 25-CC-006 | 556724.2 | 5529691.8 | -70 | 120 | 95 |
| 25-CC-007 | 556700.7 | 5529594.6 | -50 | 300 | 170 |
| 25-CC-008 | 556740.3 | 5529676.7 | -50 | 120 | 74 |
| 25-CC-009 | 556739.7 | 5529677.1 | -70 | 120 | 69.5 |
| 25-CC-010 | 556707.7 | 5529653.2 | -50 | 120 | 89 |
| 25-CC-011 | 556707.7 | 5529652.5 | -70 | 120 | 62 |
| 25-CC-012 | 556623.0 | 5529588.0 | -50 | 120 | 125 |
| 25-CC-013 | 556623.0 | 5529588.0 | -70 | 120 | 125 |
| 25-CC-014 | 556625.2 | 5529592.9 | -50 | 120 | 152 |
| 25-CC-015 | 556626.0 | 5529588.4 | -70 | 120 | 101 |
| 25-CC-016 | 556595.7 | 5529546.9 | -50 | 120 | 140 |
| 25-CC-017 | 556598.1 | 5529546.3 | -50 | 120 | 62 |
| 25-CC-018 | 556651.0 | 5529523.0 | -70 | 120 | 134 |
| 25-CC-019 | 556529.1 | 5529486.9 | -60 | 120 | 152 |
| 25-CC-020 | 556528.6 | 5529487.4 | -50 | 120 | 71 |
| 25-CC-021 | 556528.9 | 5529487.1 | -70 | 120 | 80 |
Table 2. Significant Copper intercepts from the Copper Creek Prospect, Baie Verte Project, Newfoundland and Labrador. Core lengths are presented, and true widths are unknown currently. Significant intervals defined as composite intervals with a length weighted average grade above 0.1% Cu AND grade x length greater than 0.2.
| Drillhole | From (m) | To (m) | Length (m) | Grade (% Cu) | |
| 25-CC-001 | 13.0 | 16.8 | 3.8 | 0.54 | |
| Including | 13.0 | 15.0 | 2.0 | 0.91 | |
| 25-CC-001 | 31.7 | 35.3 | 3.6 | 1.49 | |
| Including | 33.0 | 33.9 | 0.9 | 3.22 | |
| Within | 29.2 | 35.3 | 6.1 | 0.99 | |
| 25-CC-002 | 15.2 | 17.2 | 2.0 | 0.90 | |
| Including | 15.2 | 15.8 | 0.6 | 1.97 | |
| Within | 10.0 | 16.6 | 6.6 | 0.44 | |
| 25-CC-005 | 5.0 | 9.0 | 4.0 | 0.24 | |
| 25-CC-005 | 23.0 | 27.0 | 4.0 | 0.32 | |
| 25-CC-006 | 19.0 | 22.6 | 3.6 | 0.66 | |
| Including | 19.5 | 21.9 | 1.8 | 0.92 | |
| Within | 19.0 | 24.0 | 6.0 | 0.45 | |
| 25-CC-006 | 39.6 | 40.4 | 0.8 | 0.74 | |
| 25-CC-007 | 11.3 | 14.0 | 2.7 | 0.24 | |
| 25-CC-007 | 45.2 | 51.8 | 6.6 | 0.32 | |
| Including | 51.1 | 51.8 | 0.7 | 0.94 | |
| 25-CC-007 | 100.6 | 101.8 | 1.2 | 0.31 | |
| 25-CC-007 | 133.0 | 138.0 | 5.0 | 0.23 | |
| Including | 133.6 | 135.0 | 1.4 | 0.41 | |
| 25-CC-010 | 18.2 | 22.0 | 3.8 | 0.57 | |
| 25-CC-011 | 5.3 | 9.0 | 3.7 | 0.20 | |
| Including | 5.3 | 6.0 | 0.7 | 0.54 | |
| 25-CC-011 | 16.6 | 17.4 | 0.8 | 0.30 | |
| 25-CC-011 | 36.0 | 37.0 | 1.0 | 0.27 | |
| 25-CC-012 | 10.0 | 12.5 | 2.5 | 0.24 | |
| 25-CC-012 | 23.6 | 26.0 | 2.4 | 0.29 | |
| 25-CC-012 | 32.2 | 40.3 | 8.1 | 0.26 | |
| Including | 36.3 | 37.1 | 0.8 | 1.52 | |
| Including | 39.7 | 40.3 | 0.6 | 0.47 | |
| 25-CC-012 | 54.2 | 61.3 | 7.1 | 0.33 | |
| 25-CC-013 | 11.5 | 18.0 | 6.5 | 0.25 | |
| 25-CC-013 | 33.0 | 33.8 | 0.8 | 0.81 | |
| 25-CC-013 | 59.2 | 72.2 | 13.0 | 0.10 | |
| Including | 59.2 | 59.6 | 0.4 | 0.51 | |
| Including | 68.4 | 69.4 | 1.0 | 0.32 | |
| 25-CC-014 | 11.6 | 14.7 | 3.1 | 0.32 | |
| Including | 13.0 | 13.4 | 0.4 | 1.28 | |
| 25-CC-014 | 45.7 | 47.1 | 1.4 | 1.43 | |
| Including | 45.7 | 46.2 | 0.5 | 3.61 | |
| Within | 43.0 | 47.1 | 4.1 | 0.56 | |
| 25-CC-014 | 52.4 | 54.3 | 1.9 | 1.02 | |
| 25-CC-014 | 57.6 | 59.8 | 2.2 | 0.22 | |
| Including | 57.6 | 58.0 | 0.4 | 0.52 | |
| 25-CC-014 | 70.1 | 71.0 | 0.9 | 0.50 | |
| 25-CC-015 | 15.7 | 16.4 | 0.7 | 0.80 | |
| Including | 16.0 | 16.4 | 0.4 | 1.16 | |
| Within | 13.7 | 19.0 | 5.3 | 0.20 | |
| 25-CC-015 | 31.2 | 35.6 | 4.4 | 0.20 | |
| 25-CC-015 | 57.0 | 70.7 | 13.7 | 0.19 | |
| Including | 67.0 | 67.8 | 0.8 | 0.77 | |
| Within | 67.0 | 70.7 | 3.7 | 0.30 | |
| 25-CC-015 | 94.1 | 96.1 | 2.0 | 0.77 | |
| 25-CC-017 | 14.8 | 15.8 | 1.0 | 0.27 | |
| 25-CC-017 | 52.3 | 54.1 | 1.8 | 0.27 | |
| 25-CC-017 | 58.3 | 61.9 | 3.6 | 0.23 | |
| Including | 58.3 | 58.6 | 0.3 | 0.82 | |
| 25-CC-017 | 75.0 | 77.0 | 2.0 | 0.20 | |
| 25-CC-017 | 91.6 | 93.7 | 2.1 | 0.19 | |
| Including | 93.2 | 93.7 | 0.5 | 0.55 | |
| 25-CC-018 | 44.0 | 45.0 | 1.0 | 0.22 | |
| 25-CC-018 | 47.9 | 49.4 | 1.5 | 0.16 | |
| 25-CC-018 | 60.6 | 71.3 | 10.7 | 0.10 | |
| Including | 68.6 | 69.1 | 0.5 | 0.54 | |
| 25-CC-018 | 92.8 | 97.5 | 4.7 | 0.12 | |
| 25-CC-018 | 126.5 | 127.1 | 0.6 | 0.42 | |
| 25-CC-019 | 58.4 | 59.1 | 0.7 | 0.30 | |
| 25-CC-020 | 22.3 | 25.3 | 3.0 | 0.35 | |
| Including | 24.0 | 25.3 | 1.3 | 0.70 | |
| 25-CC-021 | 46.0 | 51.5 | 5.5 | 0.10 | |
| 25-CC-021 | 55.4 | 58.7 | 3.3 | 0.15 | |
| 25-CC-021 | 63.0 | 66.2 | 3.2 | 0.21 | |
| Drillhole | From (m) | To (m) | Length (m) | Grade (% Zn) | |
| 25-CC-002 | 85.3 | 86.3 | 1.0 | 0.56 | |
| 25-CC-005 | 42.0 | 44.0 | 2.0 | 0.22 | |
| 25-CC-006 | 47.0 | 50.0 | 3.0 | 0.34 | |
| Including | 48.0 | 49.0 | 1.0 | 0.69 | |
| 25-CC-010 | 28.0 | 34.7 | 6.7 | 0.14 | |
| Including | 28.0 | 30.3 | 2.3 | 0.24 | |
| 25-CC-011 | 34.0 | 37.9 | 3.9 | 0.13 | |
| 25-CC-012 | 79.9 | 80.7 | 0.8 | 0.67 | |
| 25-CC-014 | 82.4 | 86.0 | 3.6 | 0.13 | |
| 25-CC-015 | 117.6 | 118.0 | 1.0 | 0.20 | |
| 25-CC-018 | 63.7 | 64.3 | 0.6 | 0.12 |
Figure 4: Location of the Baie Verte Project, NW Newfoundland
For more information regarding Leocor’s Baie Verte Project, including detailed figures, assessment details, and historic data, please visit our website.
Qualified Person
David Murray, P.Geo., Principal Consultant at Resourceful Geoscience Solutions, A Consultant to Leocor is an Independent Qualified Person within the meaning of National Instrument 43-101 Standards of Disclosure for Minerals Projects, has reviewed and approved the technical information presented herein.
Laboratory Technical Note
Analytical services were provided by SGS Canada, which is an independent, CALA-accredited analytical services firm registered to ISO 17025 standard. A 3rd party contractor was employed to half drill core by sawing. This contractor transported core between the logging, sawing and Laboratory locations. Sample Preparation took place at SGS’ facility in Grand Falls-Windsor, Newfoundland and Labrador, analysis was conducted at SGS Burnaby British Columbia. Samples were crushed to 75% passing 2 mm, riffle split 250 g and pulverized to 85% passing 75 microns. Au assays were conducted on 30g of pulverized material using the Fire Assay method with a 4-acid digestion. Multi-element analyses, including base metals, were conducted on pulverized material using the ICP method for 40 elements. Laboratory over-limits analysis methods were applied as required. A systematic QAQC protocol was employed that includes systematic insertion in the sample stream of certified reference materials and blank samples, plus analysis of duplicate pulp splits and ¼ core duplicates.
Technical Reference
Hibbard, J., 1983, Geology of the Baie Verte Peninsula, Newfoundland: Mineral Development division Department of Mines and Energy, Government of Newfoundland and Labrador
About Leocor Mining Inc. (Formerly Leocor Gold Inc.)
Leocor Mining 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 ~2,000-hectare exploration corridor. For more information, sign up for news alerts, watch our corporate video, or view our presentation at our website.
Contact Information
Leocor Mining 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.
Cautionary Statements Regarding Forward-Looking Information
This press release contains forward-looking information within the meaning of Canadian securities laws. Such information includes, without limitation, information regarding the terms and conditions of the Option. Although Leocor believes that such information is reasonable, it can give no assurance that such expectations will prove to be correct.
Forward looking information is typically identified by words such as: “believe”, “expect”, “anticipate”, “intend”, “estimate”, “postulate” and similar expressions, or are those, which, by their nature, refer to future events. Leocor cautions investors that any forward-looking information provided by Leocor is not a guarantee of future results or performance, and that actual results may differ materially from those in forward looking information as a result of various factors, including, but not limited to: the agreement of the parties to proceed with the proposed transaction on the terms set out in the Option Agreements or at all; Leocor’s ability to exercise the Options; the state of the financial markets for Leocor’s securities; the state of the natural resources sector in the event the Option, or any of them, are completed; recent market volatility; circumstances related to COVID-19; Leocor’s ability to raise the necessary capital or to be fully able to implement its business strategies; and other risks and factors that Leocor is unaware of at this time. The reader is referred to Leocor’s initial public offering prospectus for a more complete discussion of applicable risk factors and their potential effects, copies of which may be accessed through Leocor’s issuer page on SEDAR at www.sedar.com.
The forward-looking statements contained in this press release are made as of the date of this press release. Leocor disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.
