Loncor Gold Inc T.LN

Makapela will be sold or Spun out

[nozzpack]

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.....

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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
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• 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. 
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• 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. 
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• The basalt hosting Reef 1 shows intense hydrothermal alteration for several metres into the hangingwall and footwall.
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• 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. 
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• 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.
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•  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.
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• As with Reef 1, Reef 2 shows excellent geological continuity, the altered BIF horizon being intersected in all holes in the expected position.
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•  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.
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• Reef 2 style mineralization occurs in the Bamako area where channel sampling returned an intersection of 4.60 metres @ 11.42 g/t Au. 
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• 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.

 

[Aberta1]

I agree this could be a spin off.A little wild card is the data that Barrick handed over from there drilling program. if I recall ABX did their exploration around  the edges of this resource.

[nozzpack]

That is correct....Mongaliema , Mokepa and several others. Having found what they were looking for, they shut down any further exploration.   Kondradt has his shell company ready, already with a public listing. If not Makaoela, them Imbo East and its massive potential..