Loncor Gold posts encouraging gold Intersections at Adumbi, DRC
Loncor Gold Inc. [TSX: LN; OTCQX: LONCF; FSE: LO5] reported further encouraging drilling results from its drilling program at its 3.66-million ounce Adumbi deposit in the Democratic Republic of the Congo where an indicated mineral resource of 1.88 million ounces of gold (28.185 million tonnes grading 2.08 g/t Au), and an inferred mineral resource of 1.78 million ounces of gold (20.83 million tonnes grading 2.65 g/t Au) have already been delineated within a USD1,600/oz open pit shell.
Borehole LADD028 intersected 13.92 metres grading 6.01 g/t gold, (including 7.94 metres grading 9.54 g/t gold), 0.87 metres grading 82.97 g/t gold, and 7.40 metres grading 1.49 g/t gold. It is estimated that the true width of the mineralized sections for core hole LADD028 is 81% of the intersected widths.
The gold mineralization at Adumbi is associated with a thick package (up to a maximum of 130 metres) of interbedded banded ironstone formation (BIF) and quartz carbonate and schist with higher grade sections being found in strongly altered siliceous units where structural deformation and alteration have destroyed the primary lithological fabric. Gold is associated with disseminated sulphide assemblages include pyrite, pyrrhotite and arsenopyrite.
Commenting on these latest drilling results, Loncor CEO John Barker said: “This hole represents another excellent intersection from the ongoing drill program at Adumbi. Hole LADD028 was situated in the central part of the Adumbi deposit and intersected the mineralization at a vertical depth of 290 metres below surface and within the USD1,600/oz pit shell. This hole intersected several zones of gold mineralization and showed good geological continuity with adjacent holes in the banded ironstone formation (BIF) package. Drilling continues below the proposed open pit shell with the aim of increasing the 3.66-million ounce resource at Adumbi into a Tier 1 project.”
Loncor is focused on the Ngayu Greenstone Gold Belt in the northeast of the Democratic Republic of the Congo (DRC). The Loncor team has over two decades of experience of operating in the DRC.
Loncor’s growing resource base in the Ngayu Belt is focused on the Imbo Project where the Adumbi deposit holds an indicated mineral resource of 1.88 million ounces of gold (28.185 million tonnes grading 2.08 g/t gold), and the Adumbi deposit and two neighbouring deposits hold an inferred mineral resource of 2.090 million ounces of gold (22.508 million tonnes grading 2.89 g/t Au), with 84.68% of these resources being attributable to Loncor. Following a drilling program carried out by the company at the Adumbi deposit in 2020 and 2021, the company completed a Preliminary Economic Assessment (PEA) of the Adumbi deposit and announced the results of the PEA in December 2021.