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.

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Loncor Gold Inc > Adumbi Resources….6 holes added 1 million ounces in 2021

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Comment by nozzpackon Jul 21, 2021 9:41am

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Post# 33580682

RE:Adumbi Resources….6 holes added 1 million ounces in 2021

I'm thinking 4.5 m ounces in the constrained $1500 POG pit and up to 2.5 million ounces down to 800 m underground.
Total resource at the completion of the new ( current ) Adumbi drilling program by late 2021 of 7 million ounces.

Current market cap is about $90 million which means that Loncor is value at less than $15 per ounce of gold in the ground.

Like shooting dead fish in a barrel..

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