Welcome to Loncor Resources Inc.
Loncor Resources Inc. is a Canadian gold exploration company focused on two projects on the Ngayu Belt in the Democratic Republic of the Congo (the “DRC”):
- expanding the Adumbi (76.29%) deposit, and
- a JV partnership with Barrick Gold (TSX:ABX)(NYSE:GOLD) focused on 6 priority targets.
Loncor holds exploration permits covering 3,534 km2 of the Ngayu Archaean greenstone belt 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, Barrick Gold Corporation on its Ngayu Joint Venture whereby Barrick earns 65% to manage and sole fund an exploration program including delivery of a pre-feasibility study on any gold discovery that would meet Barrick’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 deposit, Adumbi (76.29%) deposit and Yindi prospects which are retained by Loncor and do not form part of the Joint Venture.
Loncor's Makapela deposit 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). Loncor’s Adumbi deposit has an Inferred Mineral Resource of 1,675,000 oz @ 2.5 g/t.