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  • Loncor Resources (LN) has returned “significant results” from the deepest hole at its Imbo Project
  • The project is part of the Ngayu greenstone belt in the Democratic Republic of the Congo
  • The company owns a 84.68 per cent stake in the project
  • The objective of the current drilling program at Adumbi is to outline additional mineral resources
  • Loncor Resources is up 5.41 per cent on the day, trading at C$0.78 at 10:57 am ET

Loncor Resources (LN) has returned “significant results” from the deepest hole at its Imbo Project.

The project is part of the Ngayu greenstone belt in the Democratic Republic of the Congo.

The company owns a 84.68 per cent stake in the project.

The deepest borehole drilled to date at its flagship Adumbi deposit, LADD009 intersected 32.15 metres grading 6.17 grams of gold per tonne of material and 15.36 metres grading 3.73 grams of gold per tonne of material.

“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.

These excellent results combined with previous results from the ongoing drilling program indicate that gold grades are increasing with depth.

We continue to be excited by the results at Adumbi.

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,” said Loncor President Peter Cowley.

The gold mineralization at Adumbi is associated with a thick package (up to 130 metres) of interbedded banded ironstone 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, according to the company.

The objective of the current drilling program at Adumbi is to outline additional 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.

Loncor is a Canadian gold exploration company focussed on the Ngayu Greenstone Gold Belt in the northeast of the Democratic Republic of the Congo.

Loncor Resources is up 5.41 per cent on the day, trading at C$0.78 at 10:57 am ET.

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