Loncor Resources Inc (TSE:LN) (OTCQX:LONCF) (FRA:LO51) revealed results from the deepest drill hole to date on its flagship Adumbi project in the Democratic Republic of the Congo on Thursday.
Drill hole intersected 32.2 metres (m) grading 6.2 grams per tonne (g/t) gold, (including 1.5m grading 94.8 g/t gold), 15.4m grading 3.7 g/t gold (including 5.9m grading 6.6 g/t gold), 5m grading 3.2 g/t gold and 7.5m grading 1.5 g/t gold.
The hole intersected “significant widths and grades” in multiple zones, Toronto-based Loncor said in a statement.
READ: Loncor Resources releases further positive results from drilling program at Adumbi deposit
“Borehole LADD009 is the deepest hole drilled to date at Adumbi, as well as the highest value in terms of the product of grade multiplied by true width for the multiple intersections,” Loncor’s President Peter Cowley said in a statement.
Thursday’s results, when combined with previous results from the ongoing drilling program, indicate that gold grades are increasing at depth, Cowley told investors.
“We continue to be excited by the results at Adumbi,” Cowley added.
“The holes from our current drilling program have intersected significant widths and grades and will increase the current open pittable, inferred mineral resource of 2.19 million ounces (28.97 million tonnes grading 2.35 g/t gold) at the Adumbi deposit. Studies are underway to quantify this increase.”
Loncor is in the midst of a drill program at Adumbi to add mineral resources to the current inferred mineral resource of 2.5 million ounces of gold on the Imbo project, which contains the Adumbi, Kitenge and Manzako deposits.
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