Welcome to Loncor Resources Inc.
Loncor Resources Inc. is a Canadian gold exploration company focused on two projects in the Democratic Republic of the Congo (the “DRC”) - the Ngayu and North Kivu projects. Loncor holds exploration permits covering 1,696 km2 of the Ngayu Archaean greenstone belt in Tshopo province in the northeast DRC and is its main focus. The Company also controls exploration permits covering an area of approximately 13,000 km2 in North Kivu province. Both projects have historic gold production.
Loncor has been working with one of Africa’s most successful gold mining companies, Randgold Resources (Nasdaq: GOLD), in its Ngayu Joint Venture whereby Randgold earns 65% to manage and sole fund an exploration program including delivery of a pre-feasibility study on any gold discovery that would meet Randgold’s investment criteria (reference is made to Loncor’s May 18, 2017 press release). The Joint Venture covers all of the exploration permit areas comprising Loncor’s Ngayu project, other than certain parcels of land surrounding and including the Makapela and Yindi prospects which are retained by Loncor and do not form part of the Joint Venture.
Loncor's Makapela prospect 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).