Locor Resources Inc. [LN-TSX; LONCF-OTCQX; LO51-FSE] reports that the first core hole of a 7,000-metre drilling program at its Adumbi deposit has intersected multiple gold sections, on its 84.68%-owned Imbo project in the eastern part of the Ngayu greenstone belt in the Democratic Republic of the Congo. Mineralized sections are summarized in the attached table.
Borehole From To Intersected Gold Grade
No. (m) (m) width (m) (g/t)
LADD001 202.58 -223.35 20.77 1.72
LADD001 231.27-237.17 5.90 1.89
LADD001 251.27-258.60 7.33 5.80
LADD001 295.25-298.70 3.45 2.10
LADD001 301.62-321.95 20.33 2.47
Including 317.11-321.95 4.80 5.40
It is estimated that the true widths of the mineralized sections are 8% of the intersected width. All intercepted grades are uncut.
The objective of the 7,000-metre drilling program is to outline additional mineral resources to the current 2.5 million at the Imbo Project, which hosts the Adumbi, Kitenge and Manzako deposits (inferred mineral resources of 30.65 million tonnes grading 2.54 g/t gold). At the Adumbi deposit, where there is a current Inferred Resource of 2.19 million ounces of gold (28.97 million tonnes grading 2.35 g/t gold), drilling is targeting mineralized zones within the US$1,500 open-pit shell where closer-spaced holes such as LADD001 are required to delineate additional mineral resources.
Drilling will also focus on outlining resources below the pit shell, where the gold mineralization remains open at depth over a strike length of over 600 metres.
In addition to core hole LADD001, LADD003 has now been completed to the southeast of LADD001 and within the open-pit shell and will be submitted for assay. Deeper holes LADD004 and LADD005 are currently being drilled to intercept the downdip/downplunge mineralized zone below the open pit.
Loncor President Peter Cowley said: “We are encouraged by the results of this first hole of our 7,000-metre drilling program at Adumbi, where we are targeting a significant increase of resources, both within and below the open-pit shell. Exploration is also ongoing on new targets along the 14-kilometre-long mineralized trend on the Imbo permit in order to generate additional drill targets. If we achieve our objectives, the next step will be a preliminary economic assessment to illustrate the positive economic potential that we believe is contained within Adumbi and the neighbouring deposits and other targets within the Imbo exploitation permit.”