Post by
nozzpack on Nov 17, 2021 5:53pm
Makapela Can Now Be Valued
Loncor holds 100% of the Makapela project, which is a 5-kilometre radius, circular parcel of land within the western part of the Archean Ngayu Greenstone Belt surrounding and including the Makapela deposit. It is approximately 50 kilometres from Adumbi.
As is obvious from the pasted info below, it contains 1.2 million ounces at extremely high grades of which 55% are Indicated.
It is surrounded by former colonial mines and ABX identified Mongaliema as a possible associated clone.
In any event, the African PEA examples are also a mixture of Indicated and Inferred and none come close to the high grades of Makapela, yet about $200 US per ounce or more is how their PEA describes their NPV.
So, in any spin out, Makapela and its surrounding deposits would be valued above $200 US per ounce....$240 million US..and could use the Adumbi mill, designed in advance with redundant capacity, to process their high grade gold.
Table 1: Resources at Makapela – 100% Attributable to Loncor Gold
Deposit +
Attributable % | Tonnes
(million) | Gold Grade
(g/t Au) | Contained Gold
(000 oz) | Attributable Gold
(000 oz) |
| Indicated Resource | 2.21 | 8.66 | 614 | 614 |
| Inferred Resource | 3.22 | 5.30 | 550 | 550 |
After undertaking soil and channel sampling, Loncor commenced a core drilling program at Makapela in November 2010 with the objective of testing along strike and at depth the sub-vertical, vein mineralized system being exploited by the artisanal miners at the Main, North and Sele Sele pits which returned significant results from soil and channel sampling.
Drill results at Makapela were announced by the Company via a number of press releases in 2011 and 2012.
Significant drill intersections included 7.19 metres grading 64 g/t Au, 4.28 metres @ 32.6 g/t Au, 3.47 metres grading 24.9 g/t Au, 4.09 metres @ 21.7 g/t Au and 4.35 metres grading 17.5 g/t Au.
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