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Loncor Gold Inc. (TSX:LN; OTCQX:LONCF; FSE:LO51), is a Canadian gold exploration company focused on projects within a 480km2 area on the Ngayu Greenstone Belt in the North East of The Democratic Republic of the Congo (the “DRC”). Its neighbour is Africa’s largest gold mine, the Barrick Gold-managed Kibali mine, a world class operation with grades similar to those found in Loncor’s growing resources. The area around Adumbi has a history of mining since the 1920s when the Belgians extracted modest amounts of gold, with a focus on Adumbi.

In December 2021, Loncor announced the results from a Preliminary Economic Study on the likely 3.66M oz open pit resource at Adumbi (84.68% owned by Loncor).

The pre-tax NPV@5% at US$1760/oz was US$1,243M, with further value to be added should recent drilling add underground resources in early 2022.

In total, Loncor controls 2.5 million ounces of indicated resources (30.4M tonnes @ 2.56g/t), and 2.64 million ounces (25.7M tonnes at 3.19g/t) of inferred resources, illustrating the company has more than Adumbi within its portfolio of high grade assets.

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