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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 Jul 13, 2021 6:28am
156 Views
Post# 33534631

LADD0017 will significantly increase pit ounces

LADD0017 will significantly increase pit ouncesLADD0017 intersected the pit at 4 locations over a total of 44 meters within the 45 m to 118 m length of the core.

Average grades of that core was 4.9 gms per ton which is more than twice average pit grades of 2.17 gms per ton at Adumbi.

This will significantly increase the infill coverage of the Krieging model, resulting in a significant gain in gold ounces within the Adumbi pit.

Three more holes will soon report two of which are within the pit limits.

Those could add more ounces to the pit resources.
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