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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

Comment by nozzpackon Jul 23, 2021 8:01am
81 Views
Post# 33595103

RE:Loncor Closes Upsized Financing

RE:Loncor Closes Upsized FinancingWe should see hole #16 soon.
That one is the deepest as I recall.

Dont know how many more holes below the pit floor but that might become available once  we see the chart for #16.

As I said earlier, there are very large gaps in the current ( 3.15 m ounce ) open pit krieging model where interpolation between widely spaced  intersects would be assumed to have  zero grades.

Drilling additional holes to fill in these zero gaps will boost the resource level as well as increasing statistical confidence , while  converting to the much higher valued Indicated category.

Once all of these new holes are drilled within the pit from the current financing  ,they are indicating a 5 m ounce pit resource might be the outcome .

Thats pretty aggressive but what do I know.

In the past, Loncor has usually come in early on their timelines.

If they stick to the currently defined pit resource, I got a feeling that we will see the PEA before Nocvember..
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