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Loncor Gold Inc T.LN

Alternate Symbol(s):  LONCF

Loncor Gold Inc. is a Canadian gold exploration company. The Company is focused on projects within an approximately 480 square kilometers (km2) area on the Ngayu Greenstone Belt in the Northeast of The Democratic Republic of the Congo (the DRC). The area is located over 220 kilometers southwest of the Kibali gold mine, which is operated by Barrick Gold (Congo) SARL. It owns or controls a contiguous block of 46 exploration permits covering an area of over 13,000 km2 to the northwest of Lake Edward in North Kivu province. The Adumbi gold deposit is found within the Company’s 84.68% owned Imbo Project area. At the Imbo Project, the Adumbi deposit holds an indicated mineral resource of 1.88 million ounces of gold, and the Adumbi deposit and two neighboring deposits hold an inferred mineral resource of approximately 2.090 million ounces of gold with 84.68% of these resources being attributable to the Company.


TSX:LN - Post by User

Post by nozzpackon Feb 19, 2021 8:44am
103 Views
Post# 32607600

Makapela is the Crown Jewel

Makapela is the Crown Jewel4 of Barricks 5 prospects to be drilled are around Loncor's Makapela high grade discovery which currently has 1.2 million ounces at 8.66 gms per ton.

It is wide open at depth and strike and, given its very high grades , could reasonably be expected to  
increase substantially from current levels , perhaps to 5 million ounces.

Now, let us suppose Barrick hits the same high grade paydirt at one or more of its 4 prospects being drilled around Makapela .

It does not take much imagination to think that Loudon immediately becomes a necessary part of  Barrick future plans.

As it should be obvious, there are so many ways that  Loudon is going to be a prime and highly competitive acquisition target in 2021
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