Loncor reports ‘encouraging’ deep drilling results at Adumbi
TSX- and OTCQX-listed Loncor Gold has announced “encouraging” drilling results from a deep drilling programme at its 3.66-million-ounce Adumbi deposit in the Democratic Republic of Congo.
The project has an indicated mineral resource of 1.88-million ounces of gold (28.19-million tonnes, grading 2.08 g/t gold) and an inferred mineral resource of 1.78-million ounces of gold (20.83-million tonnes, grading 2.65 g/t gold) within a $1 600/oz openpit shell.
In the latest drilling results, borehole LADD027 intersected 16.07 m, grading 5.82 g/t gold (including 11.85 m, grading 7.14 g/t gold); 22.64 m, grading 4.77 g/t gold (including 13.97 m, grading 6.99 g/t gold); and 0.45 m, grading 26.94 g/t gold.
“Hole LADD027 is situated in the north-west of the Adumbi deposit and intersected the mineralisation at a vertical depth of 478 m below surface, and 75 m below the previously outlined $1 600/oz pit shell.
“When combining these results with prior deeper holes in proximity, we are excited by the high grades over excellent widths that have been recorded. The combination continues to offer significant potential for an underground operation to complement the openpit at Adumbi. Drilling continues and we expect further results in March,” Loncor CEO John Barker said.
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