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 & 17.64g/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 800,000oz 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.
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