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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 19, 2021 8:21am
129 Views
Post# 33568120

Makapela will be sold or Spun out

Makapela will be sold or Spun out
See Info and documentation below on Makapela and its adjacent satellite discoveries.

Last drilled in 2011, Makapela has barely been explored.
Yet it has in the Indicated Category, 1.2 m ounces of gold at an average grade of 7.01 gms per ton.

This grade is high even for Undergound Lodes ( Kibali u.g is 5.3 gms per ton ) yet most of these ounces are shallower than 250 m.
Mongalenia, Bamako and Mokepa have similar lithology and alluvial mining by artisans are ubiquitous, showing widespread visible gold.

I cannot see anything less than $200 per ounce in the ground as its initial listing market cap, if spun out as anew public listing by Loncour.

Its sale would generate even more.....

xxxxxxxxxxxxxxx

see link below to  Makapela... Page 20 of Corporate Presentation
 
 
 
Three styles of gold mineralization are present at Makapela
  • Note  Extensive Alluvial workings in and around Makapela, indicative of existence of economic gold
  • Note excellent correspondence between channel samples and adjacent drill intersection
  • Note high grade grab samples outside the main pits
  • Note extensive high grade soil gold concentrations ( red Areas ) outside main pits
 
  • https://www.loncor.com/component/jdownloads/?task=download.send&id=106&catid=21&m=0&Itemid=101
  •  
  • Quartz veins emplaced into shear zones within the basalt sequence. The best developed and economically significant vein (Reef 1) is exploited in the Main pit and consists of white quartz with irregularly distributed pyrite. 
  • Visible gold is quite common, occurring in 28% of the intersections as isolated specks and small aggregates up to 2 mm across. 
  •  
  • Reef 1 has been intersected over a strike length of 480 metres and to a vertical depth of 480 metres, and dips to the WNW at 80 - 90°. It has an average true width and grade of 2.15 metres @ 11.15 g/t Au. 
  •  
  • A characteristic of Reef 1 is the good geological continuity between drill sections; although the width and grade is variable, the vein was present in almost all holes, in approximately the expected position. 
  •  
  • The basalt hosting Reef 1 shows intense hydrothermal alteration for several metres into the hangingwall and footwall.
  •  
  • A second style contains strike-parallel mineralization up to 6 metres in width is closely associated with shearing within and on the margins of narrow BIF units. 
  •  
  • The most important zone (Reef 2) is exploited in the North pit. Visible gold is much less common than in Reef 1 occurring in 5% of intersections.

    Reef 2 has been intersected on the North pit trend over a strike length of 800 metres, the most significant grades occurring in the northern section over a potential strike length of 480 metres.
  •  
  •  In this northern area, which has been drilled to a maximum vertical depth of 418 metres, the mineralization has an average true width of 3.52 metres with an average grade of 8.44 g/t Au.
  •  
  • As with Reef 1, Reef 2 shows excellent geological continuity, the altered BIF horizon being intersected in all holes in the expected position.
  •  
  •  The better-developed part of Reef 2 occurs at relatively shallow depths with a plunge of about 10 ° to the NNE, before assuming a very steep plunge to the SSW.
  •  
  • Reef 2 style mineralization occurs in the Bamako area where channel sampling returned an intersection of 4.60 metres @ 11.42 g/t Au. 
  •  
  • A third area of Reef 2 style mineralization occurs in the Bamako area where channel sampling returned an intersection of 4.60 metres @ 11.42 g/t Au. 
  • The mineralization is associated with a 2-kilometre long soil anomaly, and although the best intersection from preliminary drilling was of relatively low grade (3.60 metres @ 4.43 g/t Au) further work is warranted.

Future potential

The deposit at Makapela is open down plunge creating the prospect of drilling to below the current 500-metre depth to extend the resources as well as potentially exploring for additional resources

 between the main target areas delineated and further along the regional structure.

 It is also considered unlikely that all the mineralized bodies are outcropping and good potential exists for locating blind mineralized shoots along well-defined structures with an aggregate strike of over 5 kilometres.

 Geophysical Induced Potential (I.P.) surveys would be applicable in locating any blind mineralization along this strike.

 
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