#DRC « AGORACOM Small-cap Investor Relations Blog

Posts Tagged ‘#DRC’

With 4M Ounces Of Gold and $12M In Cash, Loncor Gold Is Set To Propel Expansion of DRC’s Second Largest Gold Deposit

Posted by Paul Nanuwa at 11:32 AM on Thursday, April 11th, 2024

Introduction:

As the gold market charts a bullish course, Loncor Gold emerges as a glimmer of opportunity amidst the industry’s optimistic trajectory. With recent milestones aligning with positive industry trends, Loncor Gold’s strategic direction reflects its readiness to ride the waves of growth.

Industry Outlook and Loncor Gold’s Trajectory:

The recent surge in gold prices signals a buoyant market, fueled by geopolitical tensions, central bank purchases, and shifting investor sentiments. Against this backdrop, Loncor Gold’s strategic positioning in the gold-rich DRC positions the company for significant growth. The surge in gold prices, coupled with Loncor Gold’s substantial presence in the DRC and its flagship Adumbi gold deposit, underscores the company’s potential to capitalize on the current market dynamics.

Voices of Authority:

Industry leaders echo Loncor Gold’s strategic vision, emphasizing the importance of proactive growth strategies, value creation, and seizing opportunities amidst market fluctuations. CEO John Barker’s insights highlight the company’s resilience and foresight, reinforcing its commitment to maximizing shareholder value and expanding its resource base.

Loncor Gold’s FLASH Highlights:

Loncor Gold’s recent achievements, encapsulated in its FLASH milestones, underscore the company’s progress and potential. With approximately 4 million ounces of high-grade gold under its control, Loncor’s Adumbi gold deposit emerges as a world-class asset. The company has $12 million in cash and short-term receivables which is due to a recent sale of a non-core property and that cash will be put to work on the company’s Adumbi open pit gold deposit.

It’s the second largest gold deposit in the DRC, about 1.9 million ounces of gold indicated & about 2.1 million ounces of gold inferred equating to USD $1.3 billion after tax valuation at a price of $2,000/oz gold.

The resource is still growing and a mining permit has already been granted for the development of Adumbi. The company’s strategic initiatives, including plans to expand the Adumbi deposit and capitalize on favourable market conditions, position it as a key player in the global gold market.

Real-world Relevance:

Loncor Gold’s contributions to the industry translate into tangible impacts, akin to the emergence of gold as a safe-haven asset amidst geopolitical uncertainties. The company’s strategic growth initiatives mirror the cyclical nature of the gold market, offering investors an opportunity to capitalize on the enduring allure of gold.

Looking Ahead with Loncor Gold:

As the gold market continues its upward trajectory, Loncor Gold remains poised for further growth and value creation. With a focus on expanding its resource base, maximizing shareholder value, and leveraging favourable market conditions, Loncor Gold invites investors to join its journey toward success in the dynamic gold industry.

Conclusion:

In conclusion, Loncor Gold’s alignment with the bullish trends in the gold market positions the company for a promising future. As industry optimism prevails, Loncor Gold stands out as a compelling investment opportunity, offering investors a chance to participate in the ongoing growth story of the gold sector.

YOUR NEXT $LN STEPS

$LN HUB On AGORACOM: https://agoracom.com/ir/LoncorGold
$LN 5 Minute Research Profile On AGORACOM: https://agoracom.com/ir/LoncorGold/profile
$LN Official Verified Discussion Forum On AGORACOM: https://agoracom.com/ir/LoncorGold/forums/discussion

DISCLAIMER AND DISCLOSURE

This record is published on behalf of the featured company or companies mentioned (Collectively “Clients”), which are paid clients of Agora Internet Relations Corp or AGORACOM Investor Relations Corp. (Collectively “AGORACOM”)

AGORACOM.com is a platform. AGORACOM is an online marketing agency that is compensated by public companies to provide online marketing, branding and awareness through Advertising in the form of content on AGORACOM.com, its related websites (smallcapepicenter.com; smallcappodcast.com; smallcapagora.com) and all of their social media sites (Collectively “AGORACOM Network”) . As such please assume any of the companies mentioned above have paid for the creation, publication and dissemination of this article / post.

You understand that AGORACOM receives either monetary or securities compensation for our services, including creating, publishing and distributing content on behalf of Clients, which includes but is not limited to articles, press releases, videos, interview transcripts, industry bulletins, reports, GIFs, JPEGs, (Collectively “Records”) and other records by or on behalf of clients. Although AGORACOM compensation is not tied to the sale or appreciation of any securities, we stand to benefit from any volume or stock appreciation of our Clients. In exchange for publishing services rendered by AGORACOM on behalf of Clients, AGORACOM receives annual cash and/or securities compensation of typically up to $125,000.

Facts relied upon by AGORACOM are generally provided by clients or gathered by AGORACOM from other public sources including press releases, SEDAR and/or EDGAR filings, website, powerpoint presentations. These facts may be in error and if so, Records created by AGORACOM may be materially different. In our video interviews or video content, opinions are those of our guests or interviewees and do not necessarily reflect the opinion of AGORACOM.

From time to time, reference may be made in our marketing materials to prior Records we have published. These references may be selective, may reference only a portion of an article or recommendation, and are likely not to be current. As markets change continuously, previously published information and data may not be current and should not be relied upon.

NO INVESTMENT ADVICE

This record, and any record we publish by or on behalf of our clients, should not be construed as an offer or solicitation to buy or sell products or securities.

You understand and agree that no content in this record or published by AGORACOM constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is suitable or advisable for any specific person and that no such content is tailored to any specific person’s needs. We will never advise you personally concerning the nature, potential, advisability, value or suitability of any particular security, portfolio of securities, transaction, investment strategy, or other matter.

Neither the writer of this record nor AGORACOM is an investment advisor. Both are neither licensed to provide nor are making any buy or sell recommendations. For more information about this or any other company, please review their public documents to conduct your own due diligence.

If you have any questions, please direct them to [email protected]

For our full website disclaimer, please visit https://agoracom.com/terms-and-conditions

Tags: #Africa, #Congo, #DRC, #PreciousMetals, gold, mining, Pennystocks, resource, smallcap, smallcaps, SmallCapStocks, stocks
Posted in AGORACOM Client Feature, AGORACOM Sector Spotlight, AGORACOM Small Cap Stocks For Investment, AGORACOM Traffic, All Recent Posts, Loncor | Comments Off on With 4M Ounces Of Gold and $12M In Cash, Loncor Gold Is Set To Propel Expansion of DRC’s Second Largest Gold Deposit

With 4M Ounces Of Gold and $13.5M In Cash, Loncor Gold Is Set To Grow The 2nd Largest Gold Deposit In The DRC

Posted by Paul Nanuwa at 11:14 AM on Wednesday, April 3rd, 2024

In the realm of gold exploration and mining, one company stands out for its remarkable achievements and promising future – Loncor Gold. In a recent interview with Loncor Gold’s CEO, John Barker, we gained exclusive insights into the company’s significant milestones, its strategic vision, and the compelling investment opportunity it presents in the dynamic gold market.

A Leader in the Gold Industry

Loncor Gold (TSX: LN) (OTCQX: LONCF), has garnered attention as an undervalued gold exploration company with a substantial presence in the Democratic Republic of Congo (DRC). At a time when gold prices are soaring, Loncor Gold’s strategic positioning in the gold-rich DRC couldn’t be more opportune.

The company boasts control over approximately 4 million ounces of high-grade gold across its projects, with its flagship Adumbi gold deposit emerging as a world-class asset. Adumbi, the second-largest gold deposit in the DRC, holds immense potential with 1.9 million ounces of gold indicated and an additional 2.1 million ounces inferred. Moreover, Loncor Gold is about to possess $13.5 million in cash and short-term receivables, bolstering its financial strength and capacity for further growth.

Navigating Through Challenges with Resilience

In an industry characterized by volatility and uncertainty, Loncor Gold has demonstrated resilience and foresight. Despite operating in challenging market conditions, the company has remained steadfast in its pursuit of growth and value creation. CEO John Barker highlighted the company’s proactive approach, emphasizing their focus on expanding the business, preserving shareholder value, and seizing opportunities amidst market fluctuations.

Unveiling the Potential of Adumbi

Central to Loncor Gold’s success is the Adumbi gold deposit, renowned for its size, grade, and economic viability. With approximately 4 million ounces of gold under its control, Loncor Gold’s Adumbi deposit stands out as one of the largest and highest-grade projects in its peer group. The robust economics of the project, including a $1.3 billion after tax valuation and favourable production forecasts, underscore its significance as a value driver for the company.

Strategic Growth Initiatives

Loncor Gold’s strategic vision extends beyond its existing accomplishments, with a keen focus on further expanding the Adumbi deposit. The company’s plans to initiate an 11,000-meter drill program aimed at increasing the deposit size to 5 million ounces signal its commitment to unlocking additional value for shareholders. Moreover, with gold prices surpassing previous records, Loncor Gold is poised to capitalize on the favourable market dynamics and elevate its status as a key player in the gold sector.

Conclusion: A Bright Future Ahead

In conclusion, Loncor Gold’s remarkable achievements and strategic initiatives position it for a bright future in the gold industry. With a focus on maximizing shareholder value, expanding its resource base, and capitalizing on favorable market conditions, Loncor Gold is poised to emerge as a leading player in the global gold market. As investors seek opportunities in the precious metals sector, Loncor Gold stands out with tremendous potential and a compelling investment opportunity for those looking to capitalize on the enduring allure of gold.

YOUR NEXT $LN STEPS

DISCLAIMER AND DISCLOSURE

NO INVESTMENT ADVICE

This record, and any record we publish by or on behalf of our clients, should not be construed as an offer or solicitation to buy or sell products or securities.

If you have any questions, please direct them to [email protected]

For our full website disclaimer, please visit https://agoracom.com/terms-and-conditions

Tags: #Africa, #Congo, #DRC, #PreciousMetals, gold, mining, Pennystocks, resource, smallcap, smallcaps, SmallCapStocks, stocks
Posted in AGORACOM Client Feature, AGORACOM Clients (New), AGORACOM Small-Cap TV, AGORACOM Traffic, All Recent Posts, Featured, Loncor | Comments Off on With 4M Ounces Of Gold and $13.5M In Cash, Loncor Gold Is Set To Grow The 2nd Largest Gold Deposit In The DRC

Loncor $LN.ca $LONCF Deepest Hole Drilled at Adumbi Deposit Intersects Significant Widths and Grades in Multiple Gold Zones $ABX $NGT $GOLD $TECK

Posted by AGORACOM at 9:37 AM on Thursday, March 25th, 2021

This image has an empty alt attribute; its file name is Loncor-Small-Square.png

Results include 32.15 metres grading 6.17 g/t gold (including 1.46 metres grading 94.77 g/t gold) and 15.36 metres grading 3.73 g/t gold (including 5.89 metres grading 6.56 g/t gold)

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).

Tags: #Africa, #Assay, #Barrick, #Congo, #Crescat, #Discovery, #DRC, #Drilling, #leadership, gold
Posted in All Recent Posts, Loncor | Comments Off on Loncor $LN.ca $LONCF Deepest Hole Drilled at Adumbi Deposit Intersects Significant Widths and Grades in Multiple Gold Zones $ABX $NGT $GOLD $TECK

Loncor $LN.ca $LONCF Announces Additional Results from Infill Drilling within Open Pit Shell at its Adumbi Deposit $ABX $NGT $GOLD $TECK

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.”

Tags: #Africa, #Assay, #Barrick, #Congo, #Crescat, #Discovery, #DRC, #Drilling, #leadership, gold
Posted in All Recent Posts, Loncor | Comments Off on Loncor $LN.ca $LONCF Announces Additional Results from Infill Drilling within Open Pit Shell at its Adumbi Deposit $ABX $NGT $GOLD $TECK

Loncor $LN.ca $LONCF Defines Four Extensive Mineralized Trends Southeast of Key Adumbi Deposit $ABX $NGT $GOLD $TECK

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.

Tags: #Africa, #Assay, #Barrick, #Congo, #Crescat, #Discovery, #DRC, #Drilling, #leadership, gold
Posted in All Recent Posts, Loncor | Comments Off on Loncor $LN.ca $LONCF Defines Four Extensive Mineralized Trends Southeast of Key Adumbi Deposit $ABX $NGT $GOLD $TECK

Loncor $LN.ca $LONCF Announces Significant Gold Mineralization at Depth from its Flagship Adumbi Deposit $ABX $NGT $GOLD $TECK

Posted by AGORACOM at 11:58 AM on Thursday, February 18th, 2021

Deepest borehole at Adumbi intersects 55.43 metres grading 2.76 g/t Au including 12.45 metres grading 8.11 g/t Au
Significant widths and grades will increase the current inferred mineral resource of 2.19 million ounces (28.97 million tonnes grading 2.35 g/t gold) at Adumbi

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, 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.

Mineralized sections for boreholes LADD007 and LADD006 are summarised in the table below:

Borehole Number	From (m)	To (m)	Intersected Width (m)	Grade (g/t) Au
LADD007	99.95	107.80	7.85	1.45
LADD007	540.62	596.05	55.43	2.76
LADD007 including	583.60	596.05	12.45	8.11
LADD007	607.90	611.27	3.37	4.61

LADD006	299.37	302.25	2.88	2.64
LADD006	308.00	309.00	1.00	21.20
LADD006	322.10	337.30	15.20	1.67
LADD006	353.35	357.85	4.50	3.25

Borehole LADD007 had an inclination of minus 68 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 89% of the intersected width. All intercepted grades are uncut. Borehole LADD007 intersected the mineralization at a depth of 100 metres below S52 and approximately 40 metres below the open pit (see Figures 2 and 3 below). Borehole LADD006 had an inclination of minus 58 degrees and azimuth of 218 degrees and it is estimated that the true widths of the mineralised sections of LADD006 are approximately 95% of the intersected width.

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.”

Tags: #Africa, #Assay, #Barrick, #Congo, #Crescat, #Discovery, #DRC, #Drilling, #leadership
Posted in All Recent Posts, Loncor | Comments Off on Loncor $LN.ca $LONCF Announces Significant Gold Mineralization at Depth from its Flagship Adumbi Deposit $ABX $NGT $GOLD $TECK

VIDEO – Loncor Resources $LN How Great Is Loncor? Their JV With #Barrick $ABX Is Their 2nd Best Asset $RSG $NGT.to $GOLD $NEM $TECK.ca

Posted by AGORACOM-JC at 6:00 PM on Thursday, February 11th, 2021

When you have a billion dollar major scouring your land for a major gold discovery in excess of 5 million ounces, most juniors would find little motivation to continue their own exploration.

Not Loncor. Loncor has the goods on their JV partner Barrick to the sum of 3.7 million ounces and counting; outside of the JV. They plan on growing ounces through drilling and have 5 million ounces in their sights. Right around the threshold for what Barrick is looking for and currently outside of their reach.

If that isn’t enough to grab your attention, Newmont Owns 6% , Resolute Owns 26% and CEO Arnold Kondrat Owns 27%

Tune in to discover why their JV with Barrick is their 2nd best asset, making Loncor the SmallCap Exploration company to own.

Tags: #Assay, #Barrick, #Congo, #Crescat, #Discovery, #DRC, #Drilling, #leadership
Posted in AGORACOM Via Satellite, Loncor | Comments Off on VIDEO – Loncor Resources $LN How Great Is Loncor? Their JV With #Barrick $ABX Is Their 2nd Best Asset $RSG $NGT.to $GOLD $NEM $TECK.ca

Loncor $LN.ca $LONCF Closes First Tranche of Private Placement Financing $RSG $NGT.to $GOLD $NEM $TECK.ca

Posted by AGORACOM at 1:08 PM on Wednesday, February 3rd, 2021

1st tranche of $4M
Insiders Participating
Expected to Close Further $1M

Loncor Resources Inc. (“Loncor” or the “Company“) (TSX: “LN”; OTCQX: “LONCF”; FSE: “LO51”) is pleased to announce that, further to its January 22, 2021 press release, it has closed a first tranche of its non-brokered private placement financing (the “Financing“) for 8,000,000 units of the Company (the “Units”) at a price of Cdn$0.50 per Unit for gross proceeds of Cdn$4,000,000. Each Unit consists of one common share of the Company and one-half of one common share purchase warrant (each whole common share purchase warrant, a “Warrant“) of the Company, with each Warrant entitling the holder thereof to acquire one common share of the Company at an exercise price of Cdn$0.75 for a period of 12 months following the closing date of the Financing. A total of 1,400,000 of the Units were purchased by insiders of the Company. The Company expects to close the balance of the Financing (up to 2,000,000 Units at a price of Cdn$0.50 per Unit for gross proceeds of up to Cdn$1,000,000) next week.

The Company intends to use the proceeds from the Financing for continued exploration and development of the Company’s Imbo Project (including finalizing the current drill program at the Adumbi gold deposit and, following this program, undertaking a Preliminary Economic Assessment of Adumbi and its neighbouring deposits) and for general corporate purposes.

Tags: #Assay, #Barrick, #Congo, #Crescat, #Discovery, #DRC, #Drilling, #leadership, #Loncor
Posted in All Recent Posts, Loncor | Comments Off on Loncor $LN.ca $LONCF Closes First Tranche of Private Placement Financing $RSG $NGT.to $GOLD $NEM $TECK.ca

Loncor $LN.ca Announces Private Placement Financing $RSG $NGT.to $GOLD $NEM $TECK.ca

Posted by AGORACOM at 7:57 AM on Friday, January 22nd, 2021

Loncor Resources Inc. (“Loncor” or the “Company“) (TSX: “LN”; OTCQX: “LONCF”; FSE: “LO51”) is pleased to announce a non-brokered private placement of up to 10,000,000 units of the Company (the “Units”) at a price of Cdn$0.50 per Unit for gross proceeds of up to Cdn$5,000,000 (the “Financing“). Each Unit will consist of one common share of the Company and one-half of one common share purchase warrant (each whole common share purchase warrant, a “Warrant“) of the Company, with each Warrant entitling the holder thereof to acquire one common share of the Company at an exercise price of Cdn$0.75 for a period of 12 months following the closing date of the Financing.

About Loncor Resources Inc.
Loncor is a Canadian gold exploration company focussed on the Ngayu Greenstone Belt in the northeast of the Democratic Republic of the Congo (the “DRC”). The Loncor team has over two decades of experience of operating in the DRC. Ngayu has numerous positive indicators based on the geology, artisanal activity, encouraging drill results and an existing gold resource base. The area is 220 kilometres southwest of the Kibali gold mine, which is operated by Barrick Gold (TSX: “ABX”; NYSE: “GOLD”). In 2019, Kibali produced record gold production of 814,000 ounces at “all-in sustaining costs” of US$693/oz. Barrick has highlighted the Ngayu Greenstone Belt as an area of particular exploration interest and is moving towards earning 65% of any discovery in approximately 2,000 km2 of Loncor ground in the Ngayu Greenstone Belt that they are exploring. As per the joint venture agreements entered into between Loncor and Barrick, Barrick manages and funds exploration on the said ground until the completion of a pre-feasibility study on any gold discovery meeting the investment criteria of Barrick. In a recent announcement Barrick highlighted six prospective drill targets and have commenced confirmation drilling in 2020. Subject to the DRC’s free carried interest requirements, Barrick would earn 65% of any discovery with Loncor holding the balance of 35%. Loncor will be required, from that point forward, to fund its pro-rata share in respect of the discovery in order to maintain its 35% interest or be diluted.

In addition to the Barrick joint ventures, certain parcels of land within the Ngayu Belt surrounding and including the Adumbi and Makapela deposits have been retained by Loncor and do not form part of any of the joint ventures with Barrick. Barrick has certain pre-emptive rights over the Makapela deposit. Adumbi and two neighbouring deposits hold an inferred mineral resource of 2.5 million ounces of gold (30.65 million tonnes grading 2.54 g/t Au), with 84.68% of this resource being attributable to Loncor via its 84.68% interest in the project. Loncor’s Makapela deposit (which is 100%-owned by Loncor) has an indicated mineral resource of 614,200 ounces of gold (2.20 million tonnes grading 8.66 g/t Au) and an inferred mineral resource of 549,600 ounces of gold (3.22 million tonnes grading 5.30 g/t Au).

Resolute Mining Limited (ASX/LSE: “RSG”) owns 26% of the outstanding shares of Loncor and holds a pre-emptive right to maintain its pro rata equity ownership interest in Loncor following the completion by Loncor of any proposed equity offering.

Tags: #Assay, #Barrick, #Congo, #Crescat, #Discovery, #DRC, #Drilling, #leadership, #Loncor, #NewmontGold
Posted in All Recent Posts, Loncor | Comments Off on Loncor $LN.ca Announces Private Placement Financing $RSG $NGT.to $GOLD $NEM $TECK.ca

Loncor $LN.ca Continues to Intersect Significant Gold Mineralization at its Adumbi Flagship Deposit $RSG $NGT.to $GOLD $NEM $TECK.ca

Posted by AGORACOM at 11:14 AM on Tuesday, January 5th, 2021

Drill results include 28.00 metres grading 3.26 g/t and 20.30 metres at 2.83 g/t Au

Loncor Resources Inc. (“Loncor” or the “Company“) (TSX: “LN”; OTCQX: “LONCF”; FSE: “LO51”) is pleased to announce that the third core hole of a 7,000 metre drilling program at its Adumbi deposit has intersected significant gold intersections of 28.00 metres grading 3.26 g/t gold (including 4.90 metres grading 6.96 g/t Au and 3.53 metres grading 8.30 g/t Au) and 20.30 metres grading 2.83 g/t Au (including 6.55 metres grading 4.64 g/t Au and 2.30 metres grading 7.25 g/t Au) at its 84.68% owned Imbo Project in the eastern part of the Ngayu greenstone belt in the Democratic Republic of the Congo (see Figure 1 below).

Mineralized sections are summarised in the table below:

Borehole Number	From (m)	To (m)	Intersected Width (m)	Grade (g/t) Au
LADD004	429.00	457.00	28.00	3.26
LADD004	Incl. 432.00	436.90	4.90	6.96
LADD004	Incl. 450.62	454.15	3.53	8.30
LADD004	473.80	478.40	4.60	2.07
LADD004	505.85	526.15	20.30	2.83
LADD004	Incl. 506.85	513.40	6.55	4.64
LADD004	Incl. 523.85	526.15	2.30	7.25

Borehole LADD004 had an inclination of minus 70 degrees and azimuth of 220 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 81% of the intersected width. All intercepted grades are uncut. LADD004 intersected the mineralized zone at a shallower depth than planned due to upward deflection of the borehole.

Commenting on these latest drilling results, Loncor President Peter Cowley said: “We are very encouraged by the results of the first three core holes of our 7,000 metre drilling program at Adumbi. All these boreholes have intersected significant widths and grades and should increase the current inferred mineral resource of 2.19 million ounces (28.97 million tonnes grading 2.35 g/t gold) at Adumbi, both within the current open pit and at depth below the pit (see Figure 2 below).

Quality Control and Quality Assurance
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.

Figures accompanying this announcement are available at

https://www.globenewswire.com/NewsRoom/AttachmentNg/dfb0c899-1320-4033-ae51-d9388d7ec1df

https://www.globenewswire.com/NewsRoom/AttachmentNg/6726c38b-eea9-4bfa-90a4-5f99e83c580d

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 17, 2020 and entitled “Independent National Instrument 43-101 Technical Report on the 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.

Additional 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.

About Loncor Resources Inc.
Loncor is a Canadian gold exploration company focussed on the Ngayu Greenstone Belt in the northeast of the Democratic Republic of the Congo (the “DRC”). The Loncor team has over two decades of experience of operating in the DRC. Ngayu has numerous positive indicators based on the geology, artisanal activity, encouraging drill results and an existing gold resource base. The area is 220 kilometres southwest of the Kibali gold mine, which is operated by Barrick Gold (TSX: “ABX”; NYSE: “GOLD”). In 2019, Kibali produced record gold production of 814,000 ounces at “all-in sustaining costs” of US$693/oz. Barrick has highlighted the Ngayu Greenstone Belt as an area of particular exploration interest and is moving towards earning 65% of any discovery in approximately 2,000 km2 of Loncor ground in the Ngayu Greenstone Belt that they are exploring. As per the joint venture agreements entered between Loncor and Barrick, Barrick manages and funds exploration on the said ground until the completion of a pre-feasibility study on any gold discovery meeting the investment criteria of Barrick. In a recent announcement Barrick highlighted six prospective drill targets and have commenced confirmation drilling in 2020. Subject to the DRC’s free carried interest requirements, Barrick would earn 65% of any discovery with Loncor holding the balance of 35%. Loncor will be required, from that point forward, to fund its pro-rata share in respect of the discovery in order to maintain its 35% interest or be diluted.

Additional information with respect to Loncor and its projects can be found on Loncor’s website at www.loncor.com.

Tags: #Assay, #Barrick, #Congo, #Crescat, #Discovery, #DRC, #Drilling, #leadership, #Loncor, #NewmontGold
Posted in All Recent Posts, Loncor | Comments Off on Loncor $LN.ca Continues to Intersect Significant Gold Mineralization at its Adumbi Flagship Deposit $RSG $NGT.to $GOLD $NEM $TECK.ca

Posts Tagged ‘#DRC’

Categories