Loncor Gold Inc. [LN-TSX; LONCF-OTCQX; LO51-FSE] reported further significant assay results from its drilling program within its 84.68%-owned Imbo Project in the eastern part of the Ngayu greenstone belt in the Democratic Republic of the Congo.
Borehole LADD025 drilled at its flagship Adumbi deposit intersected 19.10 metres grading 4.11 g/t gold, including 8.75 metres grading 5.40 g/t gold and 14.60 metres grading 2.11 g/t gold. Borehole LADD024 intersected 17.78 metres grading 3.20 g/t gold and 11.50 metres grading 3.47 g/t gold, including 3.55 metres grading 7.79 g/t gold.
It is estimated true widths for holes LADD024 and LADD025 are, respectively, 77% and 78% of the intersected widths.
Loncor President Peter Cowley said, “These two core holes were all infill holes within the south eastern part of the open pit shell with the objective of converting a good part of the 3.15 million ounce inferred resource into a higher confidence category. Results received for this infill program demonstrate very good continuity of the mineralized, banded ironstone formation (BIF) package as well as an increase in thickness with depth. The current drilling focus is to complete these infill holes within the shallower part of the pit and to outline potential underground resources at depth below the pit shell as well as complete the Adumbi Preliminary Economic Assessment (PEA) by December of this year.”
Loncor is currently carrying out a drilling program at the Adumbi deposit with the objective of outlining additional mineral resources.
The company’s 100%-owned Makapela Project, located approximately 50 km from the Imbo Project, has an indicated mineral resource of 614,200 ounces of gold (2.20 million tonnes grading 8.66 g/t gold) and an inferred mineral resource of 549,600 ounces of gold (3.22 million tonnes grading 5.30 g/t gold).