Loncor Gold Inc T.LN

Alternate Symbol(s): LONCF

Metals & Mining Gold

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

Loncor Gold Inc > News..Deepest Drill Hits Bonanza Gold at Adumbi

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Comment by nozzpackon Mar 25, 2021 10:36am

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Post# 32874822

RE:RE:News..Deepest Drill Hits Bonanza Gold at Adumbi

Bonanza grade is defined as grade X intersect length greater than 100 gms

Grades increase with depth below the open pit, which is what we are seeing here.

At Kibali, drilling is down to 751 m and the underground grades at twice those of the open pit.

Latest resource levels showed 14.7 million in the underground and 3.1 m ounces in the open pit, a UG/ OP ratio greater than 4 .

Such a ratio would place the undeground of Adumbi over 10 million ounces..

How much longer will Barraik wait ?

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