Loncor Gold Inc. (TSX: “LN”; OTCQX: “LONCF”; FSE: “LO5”) has reported multiple wide, high-grade gold intersections at its Adumbi drilling program in the Democratic Republic of Congo (DRC).
The latest results from borehole LADD027 include an impressive 22.64 metres grading 4.77 g/t gold, with a notable 13.97-metre section at 6.99 g/t gold.
Additional intersections measured 16.07 metres at 5.82 g/t gold, including 11.85 metres at 7.14 g/t gold, and a peak assay of 26.94 g/t gold over 0.45 metres.
The Adumbi deposit currently holds an indicated resource of 1.88 million ounces and an inferred resource of 1.78 million ounces within a USD 1,600/oz open-pit shell.
John Barker, CEO of Loncor Gold, highlighted the significance of these results:
“Hole LADD027 was drilled in the northwest of Adumbi at a vertical depth of 478 metres, extending 75 metres below the previous pit shell. The consistent high-grade results reinforce the potential for an underground mining operation alongside the open pit.”
Drilling Data and Technical Insights
The drilling campaign at Adumbi, part of Loncor’s Imbo Project in the Ngayu Greenstone Belt, aims to expand and upgrade existing resources.
The reported results confirm the continuity of high-grade mineralization at deeper levels, enhancing the potential for underground extraction.
Quality control measures included core sampling at one-metre intervals, with assays conducted by SGS Laboratory in Tanzania. Industry-standard quality assurance procedures, including duplicate testing and internationally recognized standards, were applied to validate the findings.
Strategic and Market Impact
Loncor’s latest results bolster investor confidence in the project’s long-term viability.
The high-grade nature of the intersections positions the Adumbi deposit as a key asset in Africa’s gold sector, potentially attracting further investment and development partnerships.
Analysts suggest that these results could positively influence Loncor’s stock performance, particularly given the continued strength of gold prices in global markets.
The latest drilling update also aligns with broader industry trends favoring high-grade, scalable deposits. With ongoing drilling set to deliver additional results in March, Loncor’s strategic focus remains on unlocking further value at Adumbi and enhancing its overall project economics.
Regional and Industry Context
The DRC remains a crucial player in Africa’s gold production, and Loncor’s progress at Adumbi contributes to the country’s growing mining sector.
However, operational challenges such as regulatory stability and infrastructure constraints remain factors for investors to consider.
If Loncor successfully advances its underground mining potential, it could mark a significant shift in how gold projects are developed in the region.
In the broader gold market, supply constraints and geopolitical uncertainties continue to support strong bullion prices.
Loncor’s ongoing success at Adumbi positions it well within this favorable market environment, with potential upside for both shareholders and the company’s future growth strategy.
Looking Ahead
With continued drilling and further assay results expected in the coming months, Loncor remains focused on expanding the Adumbi resource base.
The combination of high-grade results, a growing resource estimate, and the prospect of underground mining underscores the company’s strong position in the DRC’s gold exploration landscape.
Investors and industry stakeholders will be closely watching as Loncor progresses toward its next development milestones.
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