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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Comment by nozzpackon Dec 18, 2021 8:49am

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Post# 34243148

RE:RE:New to this board

Actually , the head grade is 2.17 gms per ton which is identical to that of Kibali.
Expanding the sides of the pit in the absence of drilling data, I presume added lower grade ounces to the Krieging model and provided additional feed to get to 300,000 ounces and LOM of 10.3 years....

They should have no problem quickly adding high grade ounces below the pit as the mineralized BIF host sequence increases in thickness below the open pit shell and wide spaced drilling has already intersected grades and thicknesses amenable to underground mining.

Besides increasing the resource base, a combined open pit/underground project could increase grade throughput and reduce strip ratios with the higher grade, deeper mineral resources being mined by underground which could increase annual gold production and reduce operating costs.
The Adumbi pit itself is open laterally .
Additional geotechnical investigations including drilling has the potential to optimize and steepen pit slopes especially for the competent fresh BIF host rock and thus reducing the strip ratio and thereby lowering mining costs.

As mentioned previously, hydroelectric sites have already been identified close to Adumbi and further studies are required to optimize the power set for the operation.
The HEP hybrid option chosen costs $138.6 m versus $15.7 million for Diesel only.
That makes a significant difference in capital costs.
This will obviously be closely examined in the updated resource and full Feasability in 2023