Should nudge us very close to 5 m ounces..
ORIGINAL: Loncor Reports 4.11 g/t Gold over 19.10 Metres as part of the Infill Drill Program within the Proposed Adumbi Pit Shell
2021-10-12 09:29 ET - News Release
- Results from hole LADD024 reported 17.78 metres grading 3.20 g/t gold and 11.50 metres grading 3.47 g/t gold (including 3.55 metres grading 7.79 g/t gold);
- Hole LADD025 includes 19.10 metres grading 4.11 g/t gold (including 8.75 metres grading 5.40 g/t gold), 14.60 metres grading 2.11 g/t gold
TORONTO, Oct. 12, 2021 (GLOBE NEWSWIRE) -- Loncor Gold Inc. ("Loncor" or the "Company") (TSX: "LN"; OTCQX: "LONCF"; FSE: "LO51") is pleased to announce further significant assay results from its drilling program within its 84.68%-owned Imbo Project in the eastern part of the Ngayu greenstone belt in the Democratic Republic of the Congo. Borehole LADD025 drilled at its flagship Adumbi deposit intersected 19.10 metres grading 4.11 grammes per tonne (g/t) gold (including 8.75 metres grading 5.40 g/t Au) and 14.60 metres grading 2.11 g/t gold, while borehole LADD024 intersected 17.78 metres grading 3.20 g/t gold and 11.50 metres grading 3.47 g/t gold (including 3.55 metres grading 7.79 g/t gold (see Figures 1 and 2 below).
Significant mineralized sections for boreholes LADD024 and LADD025 are summarised in the table below:
| Borehole Number | From (m) | To (m) | Intersected
Width (m) | Grade (g/t) Au |
| LADD024 | 216.15 | 227.65 | 11.50 | 3.47 |
| LADD024 including | 224.10 | 227.65 | 3.55 | 7.79 |
| LADD024 | 235.97 | 253.75 | 17.78 | 3.20 |
| | | | | |
| LADD025 | 258.38 | 266.00 | 7.62 | 1.16 |
| LADD025 | 279.50 | 286.35 | 6.85 | 3.44 |
| LADD025 | 301.10 | 311.57 | 10.47 | 1.74 |
| LADD025 | 321.60 | 336.20 | 14.60 | 2.11 |
| LADD025 | 342.65 | 361.75 | 19.10 | 4.11 |
| LADD025 including | 349.00 | 357.75 | 8.75 | 5.40 |
Note: It is estimated that the true widths of the mineralised sections for core holes LADD024 and LADD025 are, respectively, 77% and 78% of the intersected widths in the above table. Regular measurements of inclination and azimuth were taken at 30 metre intervals down the hole and all the core was orientated. All intercepted grades are uncut with maximum internal dilution equal to or less than 4 metres of intersected width.
Commenting on these latest drilling results, Loncor President Peter Cowley said: “These two core holes were all infill holes within the south eastern part of the open pit shell with the objective of converting a good part of the 3.15 million ounce inferred resource into a higher confidence category. Results received for this infill program demonstrate very good continuity of the mineralised, banded ironstone formation (“BIF”) package as well as an increase in thickness with depth (see Figure 2). The current drilling focus is to complete these infill holes within the shallower part of the pit and to outline potential underground resources at depth below the pit shell as well as complete the Adumbi Preliminary Economic Assessment (P.E.A) by December of this year.”
Quality Control and Quality Assurance re Adumbi Deposit Drill Results
Drill cores for assaying were taken at a maximum of one-metre intervals and were cut with a diamond saw, with one-half of the core placed in sealed bags by Company geologists and sent to the Company’s on-site sample preparation facility. The core samples were then crushed down to 80% passing minus 2 mm and split with one half of the sample up to 1.5 kg pulverized down to 90% passing 75 microns. Approximately 150 grams of the pulverized sample was then sent to the SGS Laboratory in Mwanza, Tanzania (independent of the Company). Gold analyses were carried out on 50g aliquots by fire assay. In addition, check assays were also carried out by the screen fire assay method to verify high-grade sample assays obtained initially by fire assay. As part of the Company’s QA/QC procedures, internationally recognized standards, blanks and duplicates were inserted into the sample batches prior to submitting to SGS Laboratory.
Qualified Person
Peter N. Cowley, who is President of Loncor and a "qualified person" as such term is defined in National Instrument 43-101, has reviewed and approved the technical information in this press release.
Technical Reports
Additional information with respect to the Company’s Imbo Project (which includes the Adumbi deposit) is contained in the technical report of Minecon Resources and Services Limited dated April 27, 2021 and entitled "Updated Resource Statement and Independent National Instrument 43-101 Technical Report, Imbo Project, Ituri Province, Democratic Republic of the Congo". A copy of the said report can be obtained from SEDAR at www.sedar.com and EDGAR at www.sec.gov.
Information with respect to the Company’s Makapela Project, and certain other properties of the Company in the Ngayu gold belt, is contained in the technical report of Venmyn Rand (Pty) Ltd dated May 29, 2012 and entitled "Updated National Instrument 43-101 Independent Technical Report on the Ngayu Gold Project, Orientale Province, Democratic Republic of the Congo". A copy of the said report can be obtained from SEDAR at www.sedar.com and EDGAR at www.sec.gov.