- Loncor (TSX:LN)(OTCQB:LONCF) attributable gold resources of over 2.4 million oz (outside of Barrick JV), (Makapela Deposit: M&I 614,000 oz @ 8.66 g/t, Inferred 549,600 oz @ 5.3g/t. Adumbi Deposit: (71.25%) Inferred 1,675,000 oz @ 2.5g/t). All resources are 43-101 compliant.
- Loncor’s Ngayu Greenstone belt contains a 130 km BIF (banded ironstone formation) with previous drill results yielding up to 64 g/t over 7.19 m & 17.64 g/t over 6.28 m. Significant exploration potential for finding world class gold deposits (5+ million ounces).
- JV partnership with Barrick Gold Corporation (TSX:ABX) is currently exploring 1,894 sq km of Loncor’s 3,534 sq km Ngayu Greenstone belt with an active trenching, sampling and drill program with 6 drill ready targets identified to date.
- The Ngayu project is 200 km southwest of Barrick’s $2.5 billion Kibali gold mine which produced over 800,000 oz of gold in 2018.
- Additionally Loncor controls exploration permits covering 13,000 sq km of underexplored and highly prospective ground in North Kivu province, DR Congo.
Loncor NGAYU Greenstone Belt staked claims