Loncor (LN) announces significant assay results from its drilling program within its 84.68% owned Imbo Project.
The Imbo Project is located in the eastern part of the Ngayu greenstone belt in the Democratic Republic of the Congo.
The deepest borehole drilled to date at its flagship Adumbi deposit, LADD007 intersected 55.43 metres grading 2.76 g/t gold (including 12.45 metres grading 8.11 g/t Au).
Assay results were also received for core hole LADD006, which was a shallower hole drilled on the northeastern contact of the Adumbi deposit, with expected grades and widths.
Commenting on these latest drilling results, Loncor President Peter Cowley said:
“We continue to be encouraged by the results at Adumbi. Results from all five boreholes of our current drilling program have intersected significant widths and grades and will increase the current inferred mineral resource of 2.19 million ounces (28.97 million tonnes grading 2.35 g/t gold) at Adumbi. We are especially pleased with the continuity of gold mineralization at depth as highlighted in Figures 2 and 3.”
The objective of the current drilling program at Adumbi is to outline additional mineral resources to the current inferred mineral resource of 2.5 million ounces of gold on Loncor’s 84.68%-owned Imbo Project which contains the Adumbi, Kitenge and Manzako deposits (inferred mineral resources of 30.65 million tonnes grading 2.54 g/t Au).
Loncor is a Canadian gold exploration company focussed on the Ngayu Greenstone Belt in the northeast of the Democratic Republic of the Congo.
Loncor Resources Inc. (LN) opened trading at C$0.66 per share.