Ticker: TSX: LN; LOTCQX: LONCF; FSE: LO51
Project Stage: Exploration
Location: Democratic Republic of the Congo
Loncor Resources Inc (TSX:LN) (OTCQX:LONCF) (FSE:LO51) is a Canadian gold exploration company focused on projects on the Ngayu Belt in the NE of the DRC – 220kms away from the highly successful Barrick managed Kibali mine. The company is looking to significantly increase its gold resource through an ongoing fully funded drilling program, followed by a potential scoping study in 2021 at the 84.68% owned Adumbi deposit. Loncor’s total attributable resource currently stands at 2.7M ozs (29.17Mt @ 2.80g/t) of inferred and 0.6M ozs (2.21Mt @8.66g/t) of indicated resources, the resource includes the 100% owned future drill target at Makapela. Loncor is also actively exploring numerous early stage targets, with a focus along trend from Adumbi, an area called Imbo East.
Additionally, Barrick Gold (TSX:ABX)(NYSE:GOLD) fully funds up to feasibility a Joint Venture with Loncor over +/-2 000km2 of Loncor’s Ngayu ground. After 4 years of geological assessment, Barrick commenced drilling in June 2020 looking for Kibali II.
Loncor Resources Inc will be showcasing their projects to prospective investors at Mines and Money Online Connect. Apply for your complimentary investor pass here.