Loncor Gold Inc (TSE:LN) (OTCQX:LONCF) (FRA:LO51) said it has been awarded a contract to South Africa-based SENET to complete a preliminary economic assessment on the Adumbi gold deposit.
Minecon Resources and Services Limited will assist with the geological, mineral resource, mining and environmental studies, including mining capital and operating costs.
Located on Loncor’s flagship Imbo project in the Democratic Republic of Congo, Adumbi boasts an inferred resource of 41.32 million tons grading 2.37 grams per ton (g/t) for 3.15 million ounces of gold.
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SENET, a subsidiary of international contractor DRA Global, is one of Africa’s leading engineering firms when it comes to mineral processing. The firm has completed a number of big-ticket contracts such as Barrick Gold and AngloGold Ashanti’s Kibali mine that is located 220 kilometres from Adumb.
SENET will help with metallurgical testwork and design a mineral processing plant and flowsheet, as well as project infrastructure like water, power and tailings.
“SENET has a major track record in Africa, including the DRC, of undertaking projects from the early study to the EPCM stage and this experience will greatly assist in unlocking the economic potential of the company’s Adumbi deposit,” Loncor president Peter Crowley said in a statement. “We look forward to the completion of the PEA during 4Q of this year.”
Toronto-based Loncor is currently drilling at Adumbi to add underground ounces below the inferred resource pit shell, where higher grades are being intersected.
Loncor is focused on projects in the prolific Ngayu Greenstone Gold Belt in northeast DRC.
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