Loncor Gold posts multiple wide high-grade gold intersections at Adumbi, DRC
Loncor Gold Inc. [TSX: LN; OTCQX: LONCF; FSE: LO5] reported encouraging drilling results from its deep drilling program at the company’s 3.66 million-ounce Adumbi deposit, 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 LADD027 intersected 16.07 metres grading 5.82 g/t gold, including 11.85 metres grading 7.14 g/t gold, 22.64 metres grading 4.77 g/t gold, including 13.97 metres grading 6.99 g/t gold and 0.45 metres grading 26.94 g/t gold.
It is estimated that the true width of the mineralised sections for core hole LADD027 is 77% of the intersected widths.
Commenting on these latest drilling results, Loncor CEO John Barker said: “Hole LADD027 was situated in the northwest of the Adumbi deposit and intersected the mineralization at a vertical depth of 478 metres below surface, and 75 metres below the previously outlined US$1,600/oz pit shell. When combining these results with prior deeper holes in proximity, we are excited by the high grades over excellent widths that have been recorded. The combination continues to offer significant potential for an underground operation to complement the open pit at Adumbi. Drilling continues and we expect further results in March.”
Loncor is a Canadian gold exploration company focused on the Ngayu Greenstone Gold Belt in the northeast of the Democratic Republic of the Congo (the 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 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.