Posted by AGORACOM
at 7:00 PM on Sunday, June 13th, 2021
American Creek ( AMK:TSXV ) is located in one of the best mining jurisdictions in the world in B.C. Canada. They are already partnered to a world class discovery and just embarked on this years exploration program to determine how big their Goldstorm deposit really is, and to see if the deposit is not alone. There may yet be a whole storm of deposits out there on the property.
The Treaty Creek project is in the Golden Triangle on one of the largest hydrothermal systems in the world. The “Sulphurets Hydrothermal system” supports numerous world scale deposits, including the high-grade Brucejack mine (opened 2017 by Pretivm) and Seabridge’s KSM which boasts the largest undeveloped gold deposit by reserves in the world.
The southern half of the system contains 188m oz gold, 1.2 bn oz silver, 55bn lbs. copper in resources.
American Creeks Treaty Creek project is a Joint Venture. Tudor Gold owns 3/5th, is the operator and controls all costs associated with development and discovery. American Creek owns 20% and is fully carried until a “Production Notice” is issued and benefits from a “free ride” on any discovery, or discoveries made, to which there is one to date.
In March the 1st the very first resource calculation was released for Treaty Creek’s Goldstorm deposit. It is true world class, opening with 19.4m ounces of gold equivalent in Indicated and 7.9m Inferred. The potential to grow with further drilling is substantial.
A 2021 Phase 1, 30,00m, 4 drill program is underway to define where the mineralization stops in order to truly define the scope of the Goldstorm deposit. It is still open in all directions. Not too many companies have the advantage of this position, let alone at no cost.
There will be 2 more drills and 20,000 more metres added to the program later this summer targeting new discoveries.
Last Year Eric Sprott said the following about the Goldstorm Deposit on Treaty Creek:”
“It certainly looks like they have 20 million ounces and they could easily get to 30 or 40 or 50 million ounces (of gold)” Eric Sprott, July 24, 2020
I wonder how many ounces he will be counting at the end of this drill campaign. Or will it be discoveries?
Drop in and enjoy this illustrative narrative with Kelvin Burton of American Creek and discover the world class scale of Treaty Creek.
Posted by AGORACOM
at 9:11 AM on Wednesday, April 21st, 2021
Brookville Capital Intelligence Report Covers Treaty Creek Partners
The Brookville Capital Intelligence Report is a weekly newsletter out of London that covers the commodities markets. It tells subscribers about a wide variety of companies and has delivered some very strong returns. For example it told subscribers about Chalice when it was 15.5 cents and today it’s over $6.
Commodity TV is a channel focused on mining companies, experts, analysts and professional opinions of funds managers and more. Their video presentation of Treaty Creek can be found by clicking through the button below.
Fundamental Research Corp is one of the largest independent research houses in the world, with a 17-year track record of covering 550+ companies. As of April 05, 2021, FRC’s top picks were up 69.3% on average since initiation of coverage. Last week they initiated coverage on our JV Partner Tudor Gold / Treaty Creek.
The comprehensive report mention on Commodity TV can be accessed on their website by subscribing to their free membership.
EVEN, EVEN MORE COVERAGE: Stansberry Research, one of the largest investment research firms in the United States, had initiated coverage of Tudor Gold / Treaty Creek last year and issued an update on April 7th, 2021. This article can be accessed by subscribing to the Gold & Silver Report at Stansberry Research.
Posted by AGORACOM
at 9:15 AM on Monday, April 12th, 2021
Fundamental Research Corp is one of the largest independent research houses in the world, with a 17-year track record of covering 550+ companies.
As of April 05, 2021, FRC’s top picks were up 69.3% on average since initiation of coverage. Last week they initiated coverage on our JV Partner Tudor Gold / Treaty Creek
The comprehensive report on TUD and Treaty Creek can be accessed on their website by subscribing to their free membership.
Loncor Resources 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. The deepest borehole drilled to date at its flagship Adumbi deposit, LADD009 intersected 32.15 metres grading 6.17 grammes per tonne (g/t) gold (including 1.46 metres grading 94.77 g/t Au), 15.36 metres grading 3.73 g/t gold (including 5.89 metres grading 6.56 g/t Au), 5.00 metres grading 3.17 g/t gold and 7.45 metres grading 1.48 g/t gold.
Mineralized sections for borehole LADD009 are summarised in the table below:
Borehole Number
From (m)
To (m)
Intersected Width (m)
Grade (g/t) Au
LADD009
559.76
564.76
5.00
3.17
LADD009
581.90
614.05
32.15
6.17
LADD009 including
599.05
600.51
1.46
94.77
LADD009
629.56
644.92
15.36
3.73
LADD009 including
632.00
637.89
5.89
6.56
LADD009
650.50
657.95
7.45
1.48
Borehole LADD009 had an inclination of minus 75 degrees and azimuth of 218 degrees at the start of hole and regular measurements of inclination and azimuth were taken at 30 metre intervals down the hole. All core was orientated, and it is estimated that the true widths of the mineralised sections are approximately 82% of the intersected width. All intercepted grades are uncut with maximum internal dilution equal to or less than 4 metres of intersected width. Borehole LADD009 intersected the mineralization at a depth of approximately 140 metres below the open pit shell (see Figures 2 and 3 below). Boreholes LADD012 and LADD013 are currently being drilled (LADD011 was abandoned before reaching target depth due to mechanical problems and LADD013 is being drilled in its place).
Commenting on these latest drilling results, Loncor President Peter Cowley said: “Borehole LADD009 is the deepest hole drilled to date at Adumbi as well as the highest value in terms of the product of grade multiplied by true width for the multiple intersections (see Figure 2). These excellent results combined with previous results from the ongoing drilling program indicate that gold grades are increasing with depth. We continue to be excited by the results at Adumbi. The holes from our current drilling program have intersected significant widths and grades and will increase the current open pittable, inferred mineral resource of 2.19 million ounces (28.97 million tonnes grading 2.35 g/t gold) at the Adumbi deposit. Studies are underway to quantify this increase.”
The gold mineralization at Adumbi is associated with a thick package (up to 130 metres) of interbedded banded ironstone and quartz carbonate and chlorite schist with higher grade sections being found in a strongly altered siliceous unit termed “Replaced Rock” (RP) where structural deformation and alteration has completely destroyed the primary host lithological fabric. Disseminated sulphide assemblages include pyrite, pyrrhotite and arsenopyrite which can attain up to 20% of the total rock in places.
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).
Posted by AGORACOM
at 10:53 AM on Monday, March 22nd, 2021
– One of the largest gold discoveries in decades – Open in all directions and at depth – Exploration to increase in 2021 – Tudor is discovering gold at 1/50th the industry average* – Cost of discovery for AMK is $0 / Ounce – And yet… The Best Is Yet To Come! —————————————————————————————- American Creek Resources (TSX-V: AMK) Tudor Gold (TSX-V: TUD)
American Creek’s JV partner and operator at Treaty Creek, Tudor Gold, just announced a 27 million ounce gold equivalent resource* for the Goldstorm zone. This brings Goldstorm into a World Class category and while a discovery of this magnitude is very rare, Tudor’s VP of Exploration Ken Konkin says he’s just getting started. In the interview he states:
“This is the first page of a great book…I’m very excited about what we may find this year…I’m very optimistic.”
Every American Creek shareholder (and their friends and family) should watch Ken Konkin’s interview. Ken’s discussion highlights the true blue sky potential that Treaty Creek has. Who else in the world has ever said:
“You give me $30M and I’ll give you 30M ounces” [of gold M&I]
In the interview Ken lays out his priorities for the 2021 Drill Program. Priority #1 is to find the extent of the Goldstorm with big step outs then infill and convert as much of the Inferred resource into Measured and Indicated (M&I). Priority #2 is to expand exploratory drilling on the PS2 and Eureka zones.
“See if we can find another 15, 20, 25 million ounce deposit”
2021 at Treaty Creek is going to have more drills, more meters of drilling, convert Inferred resources to Measured & Indicated resources, expand the Goldstorm, develop the Perfect Storm zone, test the Eureka zone, and more. After watching this interview you’ll realize why… The Best Is Yet To Come!
Posted by AGORACOM
at 12:57 PM on Thursday, March 11th, 2021
B.C.’s prolific Golden Triangle is often referred to as “Elephant Country” given the intensity of mineral showings and deposits located there and because of the sheer scale of many of those deposits in this politically mining friendly jurisdiction. In this case a combination of the two may have been discovered as Treaty Creek has potential for multiple district-scale deposits on the same property.
The first mineralized zone at Treaty Creek to have a maiden resource is the Goldstorm. As explained in the March 9th press release it contains 19.4 million ounces at 0.74 g/t gold equivalent Measured and Indicated and 7.9 million ounces at 0.79 g/t gold equivalent Inferred. This makes it one of the largest gold deposits discovered in the last decade.
The Treaty Creek Project is a Joint Venture with Tudor Gold owning 60% (3/5th) and acting as operator. American Creek has a 20% (1/5th) interest in the project creating a 3:1 ownership relationship between Tudor Gold and American Creek. American Creek is fully carried until such time as a Production Notice is issued, at which time they are required to contribute their respective 20% share of development costs. Until such time, Tudor is required to fund all exploration and development costs while American Creek has a “free ride”.
A critical factor of metal deposits isn’t just the size, but it’s shape, consistency, and depth. Fortunately, the richest mineralization at Goldstorm is located in the close to surface “300 Zone.” The deposit is contiguous and is remarkably consistent as well. These factors create the potential for Goldstorm to be an open pit operation which is the least expensive route for both capital expenditures and operational expenditures, with the advantage of being able to mine the highest grade first.
FIGURE 1 (View looking NNE): Image of the 3D Constraining Pit Shell showing the 300 Horizon (Purple), CS-600 Zone (Red) DS-5 Zone (Orange) and Copper Belle (Blue). The maiden or initial resource calculation is exactly that: initial. The Goldstorm Zone remarkably remains open in all directions and at depth. As Tudor Gold’s VP of Exploration, Ken Konkin has stated: “This is just the first chapter of a very good book”. The edges or boundaries of the deposit are currently unknown with geophysical signatures indicating potential for significant expansion. Konkin, who was a key player in the development of the Brucejack Mine (Pretium Resources) just a few kilometers south of Treaty Creek, is an expert in both large-scale systems and geology in the Golden Triangle. He has often spoken of the importance of the “frequency for occurrence”, “frequency of distribution”, and “structural traps” characteristic of world class hydrothermal systems that create a predictable “rhythm”.
He’s stated that the Sulphurets Hydrothermal System, which includes Pretium (Brucejack mine), Seabridge (KSM deposits), and Treaty Creek, is a perfect example of this rhythm and refers to its many deposits as a “string of pearls……just really big pearls!” The potentially massive deposits on Treaty, including the Goldstorm and the Perfect Storm Zone, are located exactly where they should be within this system. Seabridge’s KSM deposits (Kerr, Sulphurets, Mitchell, Iron Cap) comprise the largest undeveloped gold deposit(s) in the world containing P&P reserves of 38 million ounces gold and 10.2 billion pounds of copper. Each deposit is approximately 2.5 – 3km apart and this “rhythm” continues northward through Treaty Creek with the Perfect Storm, the Goldstorm, and potential Goldstorm 2 zones. The yet to be drilled Perfect Storm zone has the same type of structural, geological, and geophysical characteristics as the other major deposits in the “string of pearls”. Along with expanding the Goldstorm, drilling the Perfect Storm will be one of the focuses for Tudor in 2021. On July 24, 2020 billionaire metals investor Eric Sprott stated (referring to the Goldstorm):
“It certainly looks like they have 20 million ounces and they could easily get to 30 or 40 or 50 million ounces (of gold)“
It looks like Eric’s prediction is remarkably accurate so far. With expansion of the Goldstorm and planned upcoming drilling of both the Perfect Storm and Eureka, the Treaty Creek project is primed to have a break-out year in the gold space. Treaty Creek is just 20km down a valley to a paved highway and high-transmission power lines with some of the cheapest power in the world. This is critical as power accounts for approximately 25% of mining costs. From there it’s only a 90-minute drive to bulk tonnage shipping ports in Stewart, BC. The project has excellent gold recoveries, water, a mining friendly government, and supportive First Nations in the area. What grade does it take to make a mine? That depends on a lot of factors, but critical ones include cheap power, proximity to roads and shipping ports, good recoveries, ample water, and close-to-surface deposits that can be open pit mined. Fortunately, Treaty Creek appears to have these characteristics. The in situ (in ground) grade is often lower than the head grade as initial beneficiation can concentrate the ore prior to processing. Canada’s newest gold mine, the Eagle mine (Victoria Gold) located in northern Yukon, produces with 0.65 g/t AuEq grade. Fort Knox (Kinross Gold) in Alaska produces at 0.4 g/t AuEq. Many mines in northern BC owned by companies like Centerra gold and Imperial Metals operate mines averaging well under 1g/t AuEq. Tudor Gold appears to be doing an exceptional job at adding shareholder value when considering how much gold has already been proven up given the exploration expenditures to date. Since their inception in 2016 it looks like they’ve raised close to $40M and they’ve discovered over 27 million ounces of gold! That’s less than $1.5/Oz gold CAD. Simply Amazing. That number would go down when we only consider exploration dollars at Treaty Creek. Because of the fully carried nature of American Creek’s 20% interest, it actually costs American Creek $0 / ounce regardless of how many ounces are potentially discovered. The American Creek shareholders are in the enviable position of seeing their stock value rise as Treaty Creek continues to be explored and developed without experiencing further dilution associated with that development. Currently American Creek shares are undervalued when considering the present market valuation of the Treaty Creek project. The global gold market and gold miners have a dilemma. Gold ounces in the ground are being mined faster than new ounces are being replenished, especially when it comes to new discoveries and large discoveries. Gold production is declining, and the mine life of new projects is getting shorter with smaller deposits being developed. This is increasing demand for the best projects and in particular, large projects, at a time when gold producers are making more money than at any time in their history.
Pierre Lassonde, the Canadian billionaire who is the past president of Newmont Goldcorp, has sat on the World Gold Council, and is Chair Emeritus of Franco Nevada ($23 billion) summed up the opportunity applicable to the Treaty Creek project quite nicely in two recent interviews. Back in the fall of 2020 he stated:
“Obviously, we’re going to see M&A in the space, and I think the way were going to see it is going to sort of be like three tiers. That is, if you have a project that has 1 to 3-million-ounce reserve capability, you’ll get offers at par. If you have 3 to 5-million-ounce of reserve capability, you’ll get a premium. Any project that is from 5 to 10 to 15-million-ounces, there will be bidding wars for those.”
On March 8th, 2021 Mr Lassonde was asked:
“If you were to think like an investor now, what would you do to convince some of these smaller companies to enhance shareholder value? What could the junior mining industry as a whole do right now that could be more attractive for investors at this time?”
His response:
“You know, the fundamental thing about junior mining is at the end of the day 90% of the value in our business is created by the drill bit. So, you’ve got to look at your finding costs per ounce, and if these companies are not able to find gold for like $20, $30, $40 an ounce (they) should not be in this business. What I look at as an investor, the bottom line is what’s your cost of finding an ounce of gold? That’s your common denominator. That’s where you find the value for shareholders.”
Gold is beingdiscovered at Treaty Creek for less than $1.50 CAD ($1.18 USD) / Oz opposed to $20-$40/Oz, and they’ve only begun scratching the surface from a geological point of view. American Creek shareholders are enjoying a $0/Oz rate. As Mr. Lassonde stated, “(this) is where you find the value for shareholders”. This truly is Elephant country and as Mr. Konkin put it “This is just the first chapter of a very good book”. Based on the first chapter, this appears to be a book well worth reading.
Posted by AGORACOM
at 2:43 PM on Tuesday, March 9th, 2021
American Creek Resources Ltd. (TSXV: AMK) (“the Company”) is pleased to present results of the Initial Mineral Resource Estimate for the Goldstorm and Copper Belle Zones at their flagship property, Treaty Creek. The Property is located within the heart of the Golden Triangle of Northwestern British Columbia which is on-trend from Seabridge’s KSM Project located five kilometres southwest of the Goldstorm Zone. A total of 218 drill holes totaling 105,658.8 metres were used in the Mineral Resource Estimate completed by P&E Mining Consultants Inc. (P&E). The constraining open-pit shell contains 14.15 million ounces of Measured and Indicated gold equivalent ounces (“AuEq”) at an average grade of 0.72 gpt AuEq and 5.26 million Measured and Indicated AuEq ounces at an average grade of 0.80 gpt AuEq for the out-of-pit Mineral Resources. Cut-off grades of 0.30 gpt AuEq were used inside the constraining open-pit shell and a higher cut-off grade of 0.46 gpt AuEq was used for the out-of-pit Mineral Resource Estimate which includes underground constrained blocks. The Goldstorm Zone remains open in all directions and at depth. The effective date of the Mineral Resource Estimate is March 1, 2021. A Technical Report prepared in accordance with National Instrument 43-101, Standards of Disclosure for Mineral Projects, will follow within 45 days of this news release and this will be posted on SEDAR and the Company’s website.
Tudor Gold’s Vice President of Exploration and Project Development, Ken Konkin, P.Geo., stated: “We are very pleased with the results obtained from our Initial Mineral Resource Estimate. Only 10-12 % of the gold equivalent values are attributed to silver and copper mineralization indicating a strong gold-dominate system. However, due to the immense volume of the system, it contains large quantities of silver and copper. Further studies are required to investigate the potential economic impact of these two metals. Our preliminary metallurgical test work shows excellent gold recoveries to a gravity + flotation concentrate. From four composite tests, gold recoveries averaged 96.2% in pyrite concentrates with overall gold recoveries after concentrate extraction expected to be on the order of 88%. The mineralogical studies also demonstrated that no deleterious elements such as As, Sb or Hg were detected within the Goldstorm and Copper Belle Zones. The four tests were carried out by BV Minerals Metallurgical Division and supervised by metallurgical consultant Frank Wright, P.Eng.
Our plans for 2021 are to complete the drilling of the Goldstorm Zone; to define the limits of the 300 Horizon, the CS-600 and DS-5 Zones. In-addition, diamond drilling is planned for the Eureka and Perfect Storm Zones. We believe that the Treaty Creek Property contains excellent potential for continued discovery of gold-silver-copper systems such as Goldstorm.”
Mineral Estimate Highlights include:
The classifications of Measured, Indicated and Inferred Mineral Resources for gold, silver, copper and gold-equivalents and their respective tonnage are listed in Table 1 below. In addition to the 17.33 million ounces of gold Measured and Indicated Mineral Resource and 7.22 million ounces of gold Inferred Mineral Resource, there are 93.41 million ounces of silver estimated as Measured and Indicated Mineral Resources with an additional 40.57 million ounces of Inferred silver Mineral Resource. The Measured and Indicated Mineral Resource also estimates 1.096 billion pounds of copper with an additional 330 million pounds of copper as an Inferred Mineral Resource.
A bulk density of 2.80 t/m3 was based on measurements taken by P&E during their field visits.
5m x 5m x 5m three-dimensional block model was used for the Mineral Resource Estimate. Measured Mineral Resources are informed by four of more drill holes within 100 metres; Indicated Mineral Resources are informed by four of more drill holes within 200 metres.
Posted by AGORACOM
at 10:17 AM on Thursday, March 4th, 2021
Borehole LADD008 intersects 43.10 metres grading 1.68 g/t Au, 0.78 metres grading 21.8 g/t Au and 14.98 metres grading 3.62 g/t Au, including 3.09 metres grading 13.28 g/t Au
Loncor Resources 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. The final infill core hole within the Adumbi open pit shell, LADD008 intersected 43.10 metres grading 1.68 g/t gold, 0.78 metres grading 21.8 g/t gold and 14.98 metres grading 3.62 g/t gold including 3.09 metres grading 13.28 g/t gold.
Mineralized sections for borehole LADD008 are summarised in the table below:
Borehole Number
From (m)
To (m)
Intersected Width (m)
Grade (g/t) Au
LADD008
235.05
278.15
43.10
1.68
LADD008
291.80
298.90
7.10
1.34
LADD008
305.15
305.93
0.78
21.8
LADD008
323.80
338.78
14.98
3.62
LADD008 including
335.75
338.78
3.09
13.28
Borehole LADD008 intersected the mineralization at a vertical depth of 272 metres below surface and within the southeastern boundary of the US$1,500 open pit shell (see Figures 2 and 3 below), and had an inclination of minus 65 degrees and azimuth of 218 degrees at the start of hole and regular measurements of inclination and azimuth were taken at 30 metre intervals down the hole. All core was orientated, and it is estimated that the true widths of the mineralised sections are 62% of the intersected width. All intercepted grades are uncut.
Drilling is now focussed on the downdip/down plunge extensions below the open pit shell where the gold mineralization remains open. The deepest core hole of this drilling campaign, LADD009 has now been completed and assays are awaited. Boreholes LADD011 and LADD012 are currently being drilled (LADD010 was abandoned before reaching target depth due to mechanical problems and LADD012 is being drilled in its place).
Commenting on these latest drilling results, Loncor President Peter Cowley said: “We continue to be impressed with the drill results at Adumbi. All four completed infill holes within the open pit shell have intersected significant gold mineralization with an improvement in grade and thickness compared to the previous block model, and further studies will now be undertaken to quantify this increase in terms of mineral resources within the open pit shell.”
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).
Posted by AGORACOM
at 8:47 AM on Thursday, March 4th, 2021
Stinger Resources Inc. (TSX-V: STNG) (the “Company” or “Stinger”) is pleased to announce that it has now received final approval from the TSX Venture Exchange and its common shares will commence trading on Friday, March 5, 2021, under the symbol “STNG”.
Darren Blaney, Chief Executive Officer of Stinger stated the following: “We are very pleased to have successfully completed this Spinout transaction. We again thank all of the American Creek shareholders for their confidence and support over the years and we look forward to that support continuing to be rewarded as we anticipate the future success of American Creek as well as newly launched Stinger.”
About Stinger Resources Inc.:
Stinger holds interests in gold and silver properties in British Columbia, including the 100% owned past producing Dunwell Mine which is located near Stewart in the prolific “Golden Triangle”.
The Company also holds the D1 McBride project, also located in the “Golden Triangle”.
In addition, Stinger owns the Gold Hill project located near Fort Steele, as well as optioned interests in the Ample Goldmax, Silver Side and Glitter King properties, all of which are located in other prospective areas of the Province of British Columbia.
Posted by AGORACOM
at 9:54 AM on Wednesday, February 24th, 2021
Targets Identified at Imbo East
Early Stage Exploration Identified 4 Mineralized Trends
9 kms down structure from Current Adumbi Resource
Loncor Resources Inc. (“Loncor” or the “Company“) (TSX: “LN”; OTCQX: “LONCF”; FSE: “LO51”) is pleased to announce that recent soil geochemical results have outlined four significant, undrilled mineralised trends at its 84.68%-owned Imbo Project. The focus of greenfields exploration by Loncor at Imbo East, along trend to the southeast from the 2.5 million ounce Adumbi, Kitenge and Manzako deposits (inferred mineral resources of 30.65 million tonnes grading 2.54 g/t Au) previously delineated in the northwest of the 122 square kilometre project area. Core drilling is currently being undertaken at Adumbi to increase this resource base.
Analytical results have now been received for all soil samples from the completed 5.4 kilometre by 2.3 kilometre grid, east of the Imbo River where soil samples were collected every 40 metres on lines 160 metres apart. Geological mapping, soil geochemical, rock chips and channel sampling of old colonial trenches and artisanal workings have outlined four significant mineralised trends – Esio Wapi, Museveni, Mungo Iko and Paradis – approximately 8 to 10 kilometres southeast of the Adumbi deposit (see Figures 1 and 2 below).
At Esio Wapi, soil geochemical results have outlined a number of plus 130 ppb Au (parts per billion) gold in soil anomalies with a maximum value of 2,230 ppb Au over a 1.9 kilometre long mineralised trend (see Figure 2 below). As announced previously (see Loncor’s press release dated September 21, 2020), channel sample results from old colonial workings included 19.80 metres grading 1.58 g/t Au (open to the northeast), 8 metres grading 1.11 g/t Au and 5.0 metres grading 1.65 g/t Au in brecciated banded ironstone (BIF) and metasediment. Individual rock sample values included 15.10 g/t and 7.88 g/t Au in quartz veins, 6.39 g/t and 3.08 g/t Au in BIF and 9.06 g/t, 7.91 g/t and 3.24 g/t Au in metasediments.
On the Paradis trend, soil sample results have outlined a broad 1.0 kilometre trend (plus 130 ppb Au) with maximum value of 870 ppb Au. Significant channel samples along the Paradis trend include 6.8 metres grading 5.44 g/t Au (open to the southwest) in metasediments with quartz veins. Individual rock sample values included 22.40 g/t, 5.84 g/t and 2.31 g/t Au in quartz veins.
On the Museveni mineralized trend, anomalous soil samples and artisanal workings occur over a strike of 3.2 kilometres with a maximum value of 5,850 ppb Au in soils. Channel samples from the artisanal workings include 6.0 metres grading 4.37 g/t Au and 1.40 metres grading 62.10 g/t Au and represent high grade quartz veins in metasediment. Individual rock sample values included 53.90 g/t, 32.80 g/t and 32.60 g/t Au in quartz veins and 18.10 g/t Au in metasediment.
On the Mungo Iko trend, soil samples have outlined a 3.1 kilometre long mineralized trend (plus 130ppb Au) with maximum value of 1,540 ppb Au. Individual rock sample values include 12.30 g/t and 3.50 g/t Au in brecciated BIF, 14.20 g/t, 4.81 g/t, and 3.68 g/t Au in metasediments, and 1.97 g/t Au in quartz veins. Further mapping is required to determine whether the eastern part of the Mungo Iko trend represents a faulted extension of the Esio Wapi trend.
