Loncor Resources Inc (TSE:LN) (OTCQX:LONCF) (FSE:LO51) has revealed encouraging exploration results on the eastern part of its Imbo property that better defines four large mineralized trends along the Ngayu greenstone belt in northeast Democratic Republic of Congo.
The Toronto-based firm said Wednesday that recent geochemical results outlined four significant, undrilled mineralized trends at Imbo.
Loncor is focusing its greenfield exploration on the Imbo East area, which is along trend from its flagship 2.5-million ounce Adumbi, Kitenge and Manzako deposits.
READ: Loncor Resources reports drilling results from deepest borehole to date at Imbo gold project
The deposits boast an inferred mineral resource of 30.7 million tonnes grading 2.5 grams per ton (g/t) gold. Core drilling is currently being undertaken at Adumbi to increase the resource base, according to Loncor.
In Wednesday’s release, the company said it had received analytical results for all soil samples from the completed 5.4 kilometre by 2.3 kilometre grid east of the Imbo river, which outlined four significant mineralized trends - Esio Wapi, Museveni, Mungo Iko and Paradis - aorund 8 to 10 kilometres southeast of the Adumbi deposit.
Results from Esio Wapi outlined a number of over 130 parts per billion (ppb) gold in soil anomalies, with a maximum value of 2,230 ppb gold over a 1.9-kilometre long trend.
At Paradis, soil sample results outlined a broad one-kilometre trend with maximum value of 870 ppb gold. Significant channel samples along the trend included 6.8 metres grading 5.4 g/t gold in metasediments with quartz veins.
Museveni also saw anomalous soil samples and artisanal workings occur over a strike of 3.2 kilometres, with a maximum value of 5,850 ppb gold in soils. Channel samples from the artisanal workings include 6 metres grading 4.4 g/t gold and 1.4 metres grading 62.1 g/t gold and represent high grade quartz veins in metasediment, according to Loncor.
Finally, at Mungo Iko, soil samples outlined a 3.1-kilometre-long mineralized trend (plus 130ppb gold) with maximum value of 1,540 ppb gold. Individual rock sample values included 12.3 g/t and 3.5 g/t gold in brecciated BIF, 14.2 g/t, 4.8 g/t, and 3.7 g/t gold in metasediments, and 2 g/t gold in quartz veins. Loncor told shareholders that further mapping is needed to determine whether the eastern part of the trend represents a faulted extension of Esio Wapi.
Encouraging results
Loncor president Peter Crowley hailed the positive news from its exploration program.
“Situated approximately nine kilometres from our key deposit of Adumbi, we are further encouraged by the exploration results received to date on the eastern part of our Imbo Project,” Crowley told shareholders in the statement.
“Additional infill soil sampling, augering and channel sampling will be undertaken at Esio Wapi, Paradis, Museveni and Mungo Iko to better define these mineralised trends prior to outlining drill targets.”
Shares of Loncor increased by 3.1% in Toronto at C$0.67 in early Wednesday trading.
Contact Angela at angela@proactiveinvestors.com
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