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.