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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 Jun 05, 2021 6:09am
214 Views
Post# 33335557

Last ABX update on Makapela Sattelite Discoveries..Nov/ 20

Last ABX update on Makapela Sattelite Discoveries..Nov/ 20
The Mokepa target lies in the northern margin, adjacent to the interpreted F2 fold hinge in a setting similar to Barrick's operating Kibali gold mine, and just 3 km away from Makapela.

In November 2020, the first core hole was started, reported Loncor.

 
Two encouraging trench results have been received, 600 metres apart with wide zones of gold mineralization of 110 metres grading 0.50 grams per ton (g/t) gold and 32 metres grading 0.99 g/t gold.

No Drilling Update

 
Meanwhile, the Mongaliema target lies around 7 kilometres northwest of Loncor's wholly-owned Makapela project where indicated mineral resources of 614,200 ounces and 549,600 ounces of inferred have already been outlined by Loncor.

 
During the quarter, Barrick carried out mapping, auger drilling, scout-pitting and trenching and there was an encouraging trench/artisanal pit assay of 37.3 metres grading 1.48 g/t gold plus several rock samples from old artisanal workings yielding gold mineralization including 14.9 g/t, 5.23g/t, 2.9g/t and 2.43g/t gold, the firm noted.

 
Pitting, trenching and augering is continuing to determine the full extent of this mineralized system.
 

No Subsequent Update

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