Loncor Gold Inc (TSE:LN) (OTCQX:LONCF) (FRA:LO51) has revealed significant assay results from a drilling program on its 84.68%-owned Imbo Project in the eastern part of the Ngayu greenstone belt in the Democratic Republic of the Congo.
The Canadian gold exploration company reported that Borehole LADD017 drilled at its flagship Adumbi deposit, intersected 25.77 metres grading 6.24 grams per tonne (g/t) gold, including 9.29 metres grading 9.68 g/t Au and 5.50 metres grading 9.75 g/t gold, while borehole LADD012 intersected 13.45 metres grading 3.63 g/t gold and borehole LADD014 intersected 11.80 metres grading 2.97 g/t gold.
Regular measurements of inclination and azimuth were taken at 30 metre intervals down the hole and all intercepted grades are uncut with maximum internal dilution equal to or less than 4 metres of intersected width, explained the company.
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In a statement, Loncor president Peter Cowley said: “Borehole LADD017 was the first of the infill holes to upgrade the mineral resources within the shallower part of the open pit shell and gold grades were better than the previously drilled surrounding holes. Boreholes LADD012 and LADD014 were drilled on the southeast edge of the mineralization and as expected, thickness of the banded ironstone package as well as grades were less than in the central part of the Adumbi deposit.”
“This further indicates a shallower northwest plunge to the mineralization. Our current drilling focus is to upgrade some of the shallower, inferred resource within the US$1,500 pit shell into the indicated category and to outline underground resources at depth below the 3.15-million-ounce inferred resource pit shell,” he added.
In this regard, the deepest hole at Adumbi, LADD016 was recently completed after intersecting a wide zone of the mineralized package and is now being submitted to an independent lab for gold analysis, said the company.
Loncor noted that gold mineralization at Adumbi is associated with a thick package up to a maximum of 130 metres of interbedded banded ironstone formation (BIF) and quartz-carbonate and chlorite schist with higher grade sections being found in a strongly altered siliceous unit termed “Replaced Rock” (RP) where structural deformation and alteration has completely destroyed the primary host lithological fabric.
The Canadian gold exploration company has a growing resource base in the Ngayu Greenstone Gold Belt comprising the Imbo and Makapela Projects.
Contact the author Uttara Choudhury at uttara@proactiveinvestors.com
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