Annuncio • Feb 13
An undisclosed buyer acquired 60.23% stake in KGL Resources Ltd. (TSXV:KGL.H) from Loncor Gold Inc. (TSX:LN) for CAD 0.6 million. An undisclosed buyer acquired 60.23% stake in KGL Resources Ltd. (TSXV:KGL.H) from Loncor Gold Inc. (TSX:LN) for CAD 0.6 million on February 10, 2026. A cash consideration valued at CAD 0.07 per share will be paid by the buyer.
An undisclosed buyer completed the acquisition of 60.23% stake in KGL Resources Ltd. (TSXV:KGL.H) from Loncor Gold Inc. (TSX:LN) on February 10, 2026. Annuncio • Feb 11
Chengtun Gold Ontario Inc. completed the acquisition of Loncor Gold Inc. (TSX:LN) from Resolute Mining Limited (ASX:RSG) and Arnold Kondrat. Chengtun Gold Ontario Inc. entered into an arrangement agreement to acquire Loncor Gold Inc. (TSX:LN) from Resolute Mining Limited (ASX:RSG) and Arnold Kondrat for approximately CAD 250 million on October 14, 2025. Under the terms of the acquisition, Chengtun Gold Ontario Inc will pay a cash consideration of CAD 1.38 per share. As part of the Transaction, Resolute Mining Ltd, and Arnold Kondrat (Executive Chairman of Loncor), who own approximately 18% and 17%, respectively, of the issued and outstanding Loncor Shares, have entered into a voting support agreement with Chengtun Mining pursuant to which they have agreed to vote their respective Loncor Shares in favor of the Transaction at the Loncor Meeting. Upon completion, Chengtun Gold Ontario Inc. will own 100% stake in Loncor Gold Inc. and Loncor Shares are expected to be de-listed from the TSX. In case of termination of transaction, Chengtun Gold Ontario Inc. will pay a termination fee of CAD 10 million and Loncor Gold Inc will pay a termination fee of CAD 10 million.
The transaction is subject to the approval at a special meeting of Loncor shareholders, approval of the Ontario Superior Court, requisite regulatory approvals and other standard conditions of closing for a transaction of this nature. The board of directors of Loncor Gold Inc. has formed a Special Committee and has unanimously recommends the shareholders to vote in the favor of the transaction. The transaction is expected to close not later than Q1 2026. On December 11, 2025, the shareholders of Loncor Gold Inc. approved the transaction. Closing of the transaction remains subject to the receipt of a final order in respect of the
Arrangement from the the Ontario Superior Court of Justice (Commercial List).
Stifel Nicolaus Canada Inc. acted as fairness opinion provider and financial advisor to Loncor Gold Inc and its special committee board members. EB Capital, LLC acted as financial advisor to Loncor Gold Inc and its special committee board members. Dickinson Wright LLP acted as legal advisor and TSX Trust Company acted as depositary bank to Loncor Gold Inc. Baker & McKenzie FenXun (FTZ) acted as legal advisor to Chengtun Gold Ontario Inc. Geoffrey Farr of Dentons Canada LLP acted as legal advisor to Chengtun Gold Ontario Inc. Fortuna Capital Hong Kong acts as an advisor to Loncor Gold.
Chengtun Gold Ontario Inc. completed the acquisition of Loncor Gold Inc. (TSX:LN) from Resolute Mining Limited (ASX:RSG) and Arnold Kondrat on February 11, 2026. In connection with the closing of the Transaction, the Shares will be delisted from the TSX and the Frankfurt Stock Exchange and will no longer be quoted on the OTCQX Market of the OTC Markets Group Inc. Further, Loncor Gold has applied to cease to be a reporting issuer in each of the applicable jurisdictions in Canada. New Risk • Nov 20
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 17% This is considered a minor risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-US$10m free cash flow). Earnings have declined by 29% per year over the past 5 years. Revenue is less than US$1m. Minor Risk Shareholders have been diluted in the past year (17% increase in shares outstanding). Annuncio • Oct 14
Chengtun Gold Ontario Inc. entered into an arrangement agreement to acquire Loncor Gold Inc. (TSX:LN) from Resolute Mining Limited (ASX:RSG) and Arnold Kondrat for approximately CAD 240 million. Chengtun Gold Ontario Inc. entered into an arrangement agreement to acquire Loncor Gold Inc. (TSX:LN) from Resolute Mining Limited (ASX:RSG) and Arnold Kondrat for approximately CAD 240 million on October 14, 2025. Under the terms of the acquisition, Chengtun Gold Ontario Inc will pay a cash consideration of CAD 1.38 per share. As part of the Transaction, Resolute Mining Ltd, and Arnold Kondrat (Executive Chairman of Loncor), who own approximately 18% and 17%, respectively, of the issued and outstanding Loncor Shares, have entered into a voting support agreement with Chengtun Mining pursuant to which they have agreed to vote their respective Loncor Shares in favor of the Transaction at the Loncor Meeting. Upon completion, Chengtun Gold Ontario Inc. will own 100% stake in Loncor Gold Inc. and Loncor Shares are expected to be de-listed from the TSX. In case of termination of transaction, Chengtun Gold Ontario Inc. will pay a termination fee of CAD 10 million and Loncor Gold Inc will pay a termination fee of CAD 10 million.
The transaction is subject to the approval at a special meeting of Loncor shareholders, approval of the Ontario Superior Court, requisite regulatory approvals and other standard conditions of closing for a transaction of this nature. The board of directors of Loncor Gold Inc. has formed a Special Committee and has unanimously recommends the shareholders to vote in the favor of the transaction. The transaction is expected to close not later than Q1 2026.
Stifel Nicolaus Canada Inc. acted as fairness opinion provider and financial advisor to Loncor Gold Inc and its special committee board members. EB Capital, LLC acted as financial advisor to Loncor Gold Inc and its special committee board members. Dickinson Wright LLP acted as legal advisor to Loncor Gold Inc. Baker & McKenzie FenXun (FTZ) acted as legal advisor to Chengtun Gold Ontario Inc. Dentons Canada LLP acted as legal advisor to Chengtun Gold Ontario Inc. New Risk • Aug 15
New major risk - Financial position The company has less than a year of cash runway based on its current free cash flow trend. Free cash flow: -US$9.6m This is considered a major risk. With less than a year's worth of cash, the company will need to raise capital or take on debt unless its cash flows improve. This would dilute existing shareholders or increase balance sheet risk. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-US$9.6m free cash flow). Earnings have declined by 35% per year over the past 5 years. Revenue is less than US$1m. Minor Risk Market cap is less than US$100m (CA$110.9m market cap, or US$80.3m). New Risk • Jul 06
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Canadian stocks, typically moving 13% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risks Earnings have declined by 42% per year over the past 5 years. Revenue is less than US$1m. Minor Risks Share price has been volatile over the past 3 months (13% average weekly change). Shareholders have been diluted in the past year (19% increase in shares outstanding). Market cap is less than US$100m (CA$110.6m market cap, or US$81.3m). New Risk • Jun 22
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 20% This is considered a minor risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risks Earnings have declined by 42% per year over the past 5 years. Revenue is less than US$1m. Minor Risks Shareholders have been diluted in the past year (20% increase in shares outstanding). Market cap is less than US$100m (CA$103.2m market cap, or US$75.1m). Annuncio • May 24
Loncor Gold Inc. announced that it has received CAD 9.400001 million in funding On May 23, 2025, Loncor Gold Inc., closed the transaction. The company issued 17,090,910 units at a price of CAD 0.55 per unit for the gross proceeds of CAD 9,400,000 in the transaction. As a part of the transaction cash commissions and advisory fees of CAD 503,999 and 877,562 broker warrants of the company. Annuncio • May 02
Loncor Gold Inc. announced that it expects to receive CAD 5 million in funding Loncor Gold Inc. announced it has entered into an agreement with Red Cloud Securities Inc. to act as sole agent and bookrunner in connection with a best efforts private placement issuing up to 9,090,909 units of the company at a price of CAD 0.55 cents per unit for gross proceeds of CAD 4,999,999.95 on May 1, 2025. Each unit will consist of one common share of the company and one-half of one common share purchase warrant of the company. Each whole warrant shall entitle the holder to purchase one common share of the company at a price of CAD 0.80 at any time on or before that date that is 36 months after the closing date. The agent will have an option, exercisable in full or in part, up to 48 hours prior to the closing date, to sell up to an additional 1,818,182 units at the offering price for up to an additional CAD 1,000,000 in gross proceeds. The offering is scheduled to close on May 23, 2025, or such other date as the company and the agent may agree. Completion of the offering is subject to certain conditions, including, but not limited to, the receipt of all necessary approvals, including the approval of the Toronto Stock Exchange. Annuncio • Apr 30
Loncor Gold Inc., Annual General Meeting, Jun 27, 2025 Loncor Gold Inc., Annual General Meeting, Jun 27, 2025. Annuncio • Jan 28
Loncor Gold Inc. Provides Operations Update Loncor Gold Inc. reported that operations and logistics for the Company's Adumbi gold exploration project remain unaffected by the recent developments in the city of Goma, which is about 746 kilometres southeast from Adumbi. Two drill rigs continue to drill the Adumbi deposit with the aim of furthering the resource towards the Company's 5M oz target. Annuncio • Jan 18
Loncor Gold Inc. Reports Encouraging Drilling Results Along Structural Trend from Adumbi Loncor Gold Inc. announced encouraging drilling results from a scout drilling program along trend from the Company's 3.66 million ounce Adumbi deposit where an indicated mineral resource of 1.88 million ounces of gold (28.185 million tonnes grading 2.08 g/t Au), and an inferred mineral resource of 1.78 million ounces of gold (20.83 million tonnes grading 2.65 g/t Au) have already been delineated within a USD1,600/oz open pit shell. Scout drilling using a man-portable core rig has been completed on three exploration targets (Museveni, Esio Wapi, Mungo Iko), eight to twelve kilometres to the southeast of the Adumbi deposit and close to a major, primary transcrustal structure between older Archean metavolcanic/banded ironstone terrain and younger Archean, predominantly metasediments. Assay results have been received from nine core holes totalling 2,112.94 metres with hole depths varying from 160.36 to 319.66 metres, with significant assays. The gold intercepts in holes LIDD003 and LIDD004 were found in quartz veins associated with disseminated pyrite, arsenopyrite and pyrrhotite in silicified quartz carbonate schist lithologies. The multiple intersections in boreholes LIDD008 and LIDD009 were found in basalts and quartz carbonated schists with pyrite and arsenopyrite close to the major, interpreted transcrustal structure.Infill soil sampling and detailed geological mapping was also undertaken to better define the prospects in Imbo East. At the Adumbi project, deep drilling operations below the open pit have been hampered by a number of logistical problems including breakdowns. Steps are being taken to increase metreage rates. Drilling has now restarted after the Christmas break. Quality Control and Quality Assurance: Drill cores for assaying were taken at a maximum of one-metre intervals and were cut with a diamond saw, with one-half of the core placed in sealed bags by Company geologists and sent to the Company's on-site sample preparation facility. The core samples were then crushed down to 80% passing minus 2 mm and split with one half of the sample up to 1.5 kg pulverized down to 90% passing 75 microns. Approximately 150 grams of the pulverized sample was then sent to the SGS Laboratory in Mwanza, Tanzania (independent of the Company). Gold analyses were carried out on 50g aliquots by fire assay. In addition, check assays were also carried out by the screen fire assay method to verify high-grade sample assays obtained initially by fire assay. As part of the Company's QA/QC procedures, internationally recognized standards, blanks and duplicates were inserted into the sample batches prior to submitting to SGS Laboratory. Annuncio • Oct 28
Loncor Gold Provides Update on Its Drilling Activities At Adumbi Loncor Gold Inc. announced that a 11,000 metre deep drilling program has commenced below the Adumbi open pit where an indicated mineral resource of 1.88 million ounces of gold (28.185 million tonnes grading 2.08 g/t Au), and an inferred mineral resource of 1.78 million ounces of gold (20.83 million tonnes grading 2.65 g/t Au) have already been delineated within a USD1,600/oz open pit shell. The gold mineralisation is open at depth at Adumbi and the banded ironstone host thickens at depth. Drilling has started with one rig at Adumbi and an additional rig to commence within the next two weeks. Scout drilling using a man-portable core rig has also commenced on four exploration targets, 8 to 13 kilometres to the southeast of Adumbi on the same major structural shear and where an initial 12 hole (2,400 metre) drill program is planned. To date, five shallow holes have been completed totaling 1,123 metres. Preliminary assays have been received from two high grade sections in hole LIDD003 on the Museveni prospect where visible gold was observed in the core. This gold mineralisation is found in quartz veins with disseminated pyrite, arsenopyrite and pyrrhotite in a silicified quartz carbonate schist. Annuncio • Aug 15
Loncor Gold Inc. Resume Drilling on Its 3.66 Million Ounce Adumbi Deposit and Four Prospects on Its Imbo Exploitation Licence Loncor Gold Inc. announced that drilling equipment and personnel have arrived at the Adumbi camp to resume drilling on the Company's flagship Adumbi gold project and at four prospects within the Imbo exploitation licence and where Loncor Gold has a 84.68% attributable interest. Adumbi is situated approximately 220 kilometres from Africa's largest gold mine, Barrick Gold/AngloGold Ashanti's Kibali Gold Mine, a hub for many mining related contractors in the DRC. Two core rigs will focus on a 11,000-metre-deep drilling program below the Adumbi open pit where an indicated mineral resource of 1.88 million ounces of gold (28.185 million tonnes grading 2.08 g/t Au), and an inferred mineral resource of 1.78 million ounces of gold (20.83 million tonnes grading 2.65 g/t Au) have already been delineated within a USD1,600/oz open pit shell. The Adumbi resource remains open at depth below the USD1,600/oz pit shell with the favourable Banded Ironstone Formation (BIF) host increasing in thickness. As stated in the Company's press release of December 19, 2023, the Company estimates the potential Adumbi underground exploration target below the USD1,600/oz pit shell as between 8.9 million tonnes to 9.6 million tonnes grading 4.7 g/t Au to 4.9 g/t Au to a depth of 800 metres (reference is made to the said press release, which can be found at SEDAR+ at www.sedarplus.ca, for additional information with respect to this estimate). These potential quantities and grade are conceptual in nature as there has been insufficient exploration to define a mineral resource and it is uncertain if further exploration will result in the Adumbi underground exploration target being delineated as a mineral resource. Fifteen intersections are proposed below the pit shell in order to outline an inferred underground mineral resource. Of the fifteen proposed intersections, six interceptions will be wedged off nine deeper holes in order to save time and costs. In addition, a further core rig has been mobilised to undertake initial scout drilling on four exploration targets, 8 to 13 kilometres to the southeast from Adumbi on the same major structural shear across the Imbo river at Imbo East. Geological mapping, soil geochemical, rock chips and channel sampling of old colonial trenches and artisanal workings have outlined four significant mineralized trends at Esio Wapi, Museveni, Mungo Iko and Paradis. An initial 12 hole (2,400 metre) drill program will test these four targets. Loncor's independent geological consultants Minecon Resources and Services Limited undertook the Adumbi underground exploration target tonnage and grade estimation ranges. The Adumbi 3-dimensional ("3-D") model was constructed using cross sectional and horizontal flysch plans of the geology and mineralization and was used to assist in constraining the 3-D geological model. This underground exploration target has been estimated to a maximum depth of 800 metres below surface. Annuncio • Jun 13
Loncor Mobilises Three Core Rigs to Define Additional Mineral Resources Below and Along Strike from Adumbi's Current 3.66 Million Ounce Open Pit Resources Loncor Gold Inc. announced that drill contracts have been signed and three core rigs are now being mobilised to the Company's Adumbi gold project within the Imbo exploitation licence and where Loncor has a 84.68% attributable interest. Adumbi is situated approximately 220 kilometres from Africa's largest gold mine, the Barrick Gold/AngloGold Ashanti Kibali Gold Mine, a hub for many mining related contractors in the DRC. Two core rigs will focus on a 11,000-metre-deep drilling program below the Adumbi open pit where an indicated mineral resource of 1.88 million ounces of gold (28.185 million tonnes grading 2.08 g/t Au), and an inferred mineral resource of 1.78 million ounces of gold (20.83 million tonnes grading 2.65 g/t Au) have already been delineated within a USD1,600/oz open pit shell. The Adumbi resource remains open at depth below the USD1,600/oz pit shell with the favourable Banded Ironstone Formation (BIF) host increasing in thickness. As stated in the Company's press release of December 19, 2023, the Company estimates the potential Adumbi underground exploration target below the USD 1,600/oz pit shell as between 8.9 million tonnes to 9.6 million tonnes grading 4.7 g/t Au to 4.9 g/t Au to a depth of 800 metres. These potential quantities and grade are conceptual in nature as there has been insufficient exploration to define a mineral resource and it is uncertain if further exploration will result in the Adumbi underground exploration target being delineated as a mineral resource. Fifteen intersections are proposed below the pit shell in order to outline an underground mineral resource. Of the fifteen proposed intersections, six interceptions will be wedged off nine deeper holes in order to save time and costs. Loncor's independent geological consultants Minecon Resources and Services Limited undertook the Adumbi underground exploration target tonnage and grade estimation ranges. The Adumbi 3-dimensional ("3-D") model was constructed using cross sectional and horizontal flysch plans of the geology and mineralization and was used to assist in constraining the 3-D geological model. This underground exploration target has been estimated to a maximum depth of 800 metres below surface. In addition, a further core rig has been mobilised to undertake initial scout drilling on four exploration targets, 8 to 13 kilometres to the southeast from Adumbi on the same major structural shear across the Imbo River at Imbo East. Geological mapping, soil geochemical, rock chips and channel sampling of old colonial trenches and artisanal workings have outlined four significant mineralized trends. The four highlighted areas below form the initial focus for the proposed 12-hole scout drilling program: At Esio Wapi, there is a significant soil geochemical anomaly over 1.9 kilometres. Channel sample results from old colonial workings included 19.80 metres grading 1.58 g/t Au (open to the northeast), 8 metres grading 1.11 g/t Au and 5.0 metres grading 1.65 g/t Au in brecciated Banded Ironstone Formations (BIF) and metasediment. The Paradis trend shows a soil geochemical anomaly over 1.0 kilometres. Channel samples included 6.8 metres grading 5.44 g/t Au (open to the southwest) in metasediments with quartz veins. Individual rock sample values include 22.40 g/t, 5.84 g/t and 2.31 g/t Au. On the Mungo Iko trend, there is a soil geochemical anomaly of 3.1 kilometres. Rock sample results include 12.30 g/t Au and 3.50 g/t Au in brecciated BIF; 14.20 g/t, 4.81 g/t, and 3.68 g/t Au in metasediments. On the Museveni trend, anomalous soil samples and artisanal workings occur over a strike of 3.2 kilometres. Channel samples from artisanal workings included 6.0 metres grading 4.37 g/t Au. Annuncio • May 08
Loncor Gold Inc., Annual General Meeting, Jun 27, 2024 Loncor Gold Inc., Annual General Meeting, Jun 27, 2024. Annuncio • Jan 25
Loncor Gold Inc. Prepares Deep Drilling Program to Define Additional Mineral Resources Below Adumbi's 3.66 Million Ounce Open Pit Resource Loncor Gold Inc. announced that drilling tenders have been sent to a number of drilling companies to bid on a 11,000-metre-deep drilling program at its priority gold exploration target below the Adumbi USD 1,600/oz pit shell. It is proposed that two core rigs will commence a deep drilling program at Adumbi by the beginning of April 2024. Adumbi is situated 220 kilometres from Africa's large gold mine, the Barrick Gold/AngloGold Ashanti Kibali Gold Mine, a hub for many major mining related contractors in the DRC. Fifteen intersections are proposed below the pit shell in order to outline an inferred underground mineral resource. Of the fifteen proposed intersections, six interceptions will be wedged off nine deeper holes in order to save time and costs. This drilling program is estimated to be completed by year end at which time an underground inferred mineral resource estimate will be carried out. Adumbi currently has an indicated mineral resource of 1.88 million ounces of gold (28.185 million tonnes grading 2.08 g/t Au), and an inferred mineral resource of 1.78 million ounces of gold (20.83 million tonnes grading 2.65 g/t Au) – all within the USD 1,600/oz pit shell, with 84.68% of these mineral resources being attributable to Loncor. The Adumbi resource remains open at depth below the USD 1,600/oz pit shell (maximum depth of pit shell bottom 550 metres below surface) with the favourable Banded Ironstone Formation (BIF) host increasing in thickness. As stated in the Company's press release of December 19, 2023, the Company estimates the potential Adumbi underground exploration target as between 8.9 million tonnes to 9.6 million tonnes grading 4.7 g/t Au to 4.9 g/t Au to a depth of 800 metres. These potential quantities and grade are conceptual in nature as there has been insufficient exploration to define a mineral resource and it is uncertain if further exploration will result in the Adumbi underground exploration target being delineated as a mineral resource. Loncor's independent geological consultants Minecon Resources and Services Limited undertook the Adumbi underground exploration target tonnage and grade estimation ranges. The Adumbi 3-dimensional (3-D) model was constructed using cross sectional and horizontal flysch plans of the geology and mineralization and was used to assist in constraining the 3-D geological model. This underground exploration target has been estimated to a maximum depth of 800 metres below surface. Annuncio • Dec 20
Loncor Gold Forecasts Continued Growth for Adumbi Through Positive Underground Exploration Estimates Loncor Gold Inc. announced that its priority exploration target below the Adumbi USD 1,600/oz pit shell is estimated be in a range from 8.9 million tonnes to 9.6 million tonnes grading from 4.7 g/t Au to 4.9 g/t Au below USD1,600/oz pit shell. The Adumbi resource remains open at depth below the USD1,600 pit shell (maximum depth of pit shellbottom 550 metres below surface), with the Company's estimates of the potential underground explorationtarget suggesting it could contain between 8.9 million tonnes to 9.6 million tonnes grading 4.7 g/t Au to 4.9g/t Au to a depth of 800 metres. These potential quantities and grade are conceptual in nature as there hasbeen insufficient exploration to define a mineral resource and it is uncertain if further exploration will resultin the Adumbi underground exploration target being delineated as a mineral resource. The gold mineralisation below the USD1,600 pit shell at Adumbi is considered Loncor's principal"exploration target" to generate additional mineral resources. Near the bottom of the pit and below the pitshell, eleven core holes have been drilled which demonstrate that the favourable gold mineralised BandedIronstone Formation ("BIF") host is thickening at depth below the pit shell with grades and thicknessespotentially amenable to underground mining. Drill cores for assaying were taken at a maximum of one-metre intervals and were cut with a diamond saw,with one-half of the core placed in sealed bags by Company geologists and sent to the Company's on-sitesample preparation facility. The core samples were then crushed down to 80% passing minus 2 mm andsplit with one half of the sample up to 1.5 kg pulverized down to 90% passing 75 microns. Approximately150 grams of the pulverized sample was then sent to the SGS Laboratory in Mwanza, Tanzania(independent of the Company). Gold analyses were carried out on 50g aliquots by fire assay. In addition,check assays were also carried out by the screen fire assay method to verify high-grade sample assaysobtained initially by fire assay. As part of the Company's QA/QC procedures, internationally recognizedstandards, blanks and duplicates were inserted into the sample batches prior to submitting to SGSLaboratory. Annuncio • Dec 14
An undisclosed buyer entered into an agreement to acquire Non-Core Makapela Property from Loncor Gold Inc. (TSX:LN) for CAD 13.5 million. An undisclosed buyer entered into an agreement to acquire Non-Core Makapela Property from Loncor Gold Inc. (TSX:LN) for CAD 13.5 million on December 13, 2023. The consideration consists of CAD 13.50 million in cash. The agreement calls for the sale price to be paid in a series of progress payments beginning with a deposit of CAD 2 million. The balance of the progress payments, totaling CAD 11.5 million, will be paid upon completion of the transfer of title to Makapela, which is expected to occur before the end of February 2024. New Risk • Aug 14
New major risk - Financial position The company has less than a year of cash runway based on its current free cash flow trend. Free cash flow: -US$3.4m This is considered a major risk. With less than a year's worth of cash, the company will need to raise capital or take on debt unless its cash flows improve. This would dilute existing shareholders or increase balance sheet risk. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-US$3.4m free cash flow). Earnings have declined by 31% per year over the past 5 years. Revenue is less than US$1m. Minor Risks Share price has been volatile over the past 3 months (14% average weekly change). Shareholders have been diluted in the past year (3.8% increase in shares outstanding). Market cap is less than US$100m (CA$47.5m market cap, or US$35.3m). Annuncio • Jul 01
Loncor Gold Inc. Elects Kevin R. Baker as Director Loncor Gold Inc. announced at annual and special meeting of shareholders held on June 30, 2023, the shareholders elected Kevin R. Baker as Director of the company. Board Change • Jul 01
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 2 experienced directors. 3 highly experienced directors. President & Director Peter Cowley was the last director to join the board, commencing their role in 2020. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. New Risk • Jun 21
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Canadian stocks, typically moving 13% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risks Earnings have declined by 37% per year over the past 5 years. Revenue is less than US$1m. Minor Risks Share price has been volatile over the past 3 months (13% average weekly change). Shareholders have been diluted in the past year (3.8% increase in shares outstanding). Market cap is less than US$100m (CA$64.3m market cap, or US$48.6m). Annuncio • Nov 18
Loncor Gold Moves Closer to Creating A Second Mining District Centred on Its High Grade Makapela Gold Resource Loncor Gold Inc. announced that it has received notification that the Standing Evaluation Committee has given a positive recommendation to allow Loncor to convert its Exploration Permit at Makapela into an Exploitation Permit (Mining Permit). This followed a detailed review and analysis of Loncor's Environmental and Social Impact Studies on Makapela. The recommendation has been forwarded to the DRC Mining Cadastral for further processing prior to Ministerial sign-off. The Mining Permit application is for the potential development of the Company's 1.164 million ounce Makapela gold resource found within the Ngayu Greenstone Gold Belt in the northeast of the Democratic Republic of the Congo (the "DRC"). Makapela has an indicated mineral resource of 614,200 ounces of gold (2.20 million tonnes grading 8.66 g/t Au) and an inferred mineral resource of 549,600 ounces of gold (3.22 million tonnes grading 5.30 g/t Au) at a 2.75 g/t Au cut-off. The Makapela Project is owned 100% by Loncor and is located approximately 50 kilometres from its 3.66 million ounce Adumbi deposit which already has a Mining Permit. The Preliminary Economic Assessment (PEA) of the Adumbi deposit, the results of which were announced by Loncor in December 2021, did not include the Makapela deposit. The Makapela mineralization is hosted by a sequence of steeply-dipping basaltic volcanics containing thin BIF (banded ironstone formation) units. A total of 83 core holes have been drilled at Makapela with several significant drill intersections including 7.19 metres grading 64 g/t Au, 4.28 metres at 32.6 g/t Au, 3.47 metres grading 24.9 g/t Au, 4.09 metres at 21.7 g/t Au and 4.35 metres grading 17.5 g/t Au. There are two principal, subvertical mineralized units at Makapela: (a) Reef 1, a quartz vein emplaced into a shear zone which crosscuts the basalt sequence at an acute angle and has an average true width and grade of 2.15 metres @ 11.15 g/t Au, and has been drilled over a strike of 480 metres and to a maximum vertical depth of 480 metres; and (b) Reef 2, an assemblage of brecciated quartz within a sheared BIF unit over a strike of at least 3 kilometres. The best Reef 2 mineralization occurs over a strike of 480 metres, where it has an average true width and grade of 3.52 metres @ 8.44 g/t Au. Good potential exists for locating additional blind gold mineralization along well-defined structures over an aggregate strike of over 5 kilometres. Annuncio • Jul 19
Loncor Gold Inc. Looks to Create a Second Mining District Centred on its High Grade Makapela Gold Resource Loncor Gold Inc. ('Loncor' or the 'Company') announced that it has applied for an Exploitation Permit ('Mining Permit') for the potential development of the Company's 1.164 million ounce Makapela gold resource found within the Ngayu Greenstone Gold Belt in the northeast of the Democratic Republic of the Congo (the 'DRC'). Makapela has an indicated mineral resource of 614,200 ounces of gold (2.20 million tonnes grading 8.66 g/t Au) and an inferred mineral resource of 549,600 ounces of gold (3.22 million tonnes grading 5.30 g/t Au) at a 2.75 g/t Au cut-off. The Makapela Project is owned 100% by Loncor and is located approximately 50 kilometres from its 3.66 million ounce Adumbi deposit which already has a Mining Permit. The Preliminary Economic Assessment (PEA) of the Adumbi deposit, the results of which were announced by Loncor in December 2021, did not include the Makapela deposit. The award of a Mining Permit at Makapela would create a second avenue to release value held within their deposits, and the Company will continue to analyse both practical and corporate solutions to maximise the value attributed to all of Loncor's assets. The Makapela mineralization is hosted by a sequence of steeply-dipping basaltic volcanics containing thin BIF (banded ironstone formation) units. A total of 83 core holes have been drilled at Makapela with several significant drill intersections including 7.19 metres grading 64 g/t Au, 4.28 metres at 32.6 g/t Au, 3.47 metres grading 24.9 g/t Au, 4.09 metres at 21.7 g/t Au and 4.35 metres grading 17.5 g/t Au. There are two principal, subvertical mineralized units at Makapela: (a) Reef 1, a quartz vein emplaced into a shear zone which crosscuts the basalt sequence at an acute angle and has an average true width and grade of 2.15 metres @ 11.15 g/t Au, and has been drilled over a strike of 480 metres and to a maximum vertical depth of 480 metres; and (b) Reef 2, an assemblage of brecciated quartz within a sheared BIF unit over a strike of at least 3 kilometres. The best Reef 2 mineralization occurs over a strike of 480 metres, where it has an average true width and grade of 3.52 metres @ 8.44 g/t Au. Good potential exists for locating additional blind gold mineralization along well-defined structures over an aggregate strike of over 5 kilometres. Annuncio • Jun 11
Loncor Gold Inc. announced that it has received CAD 4.147501 million in funding On June 10, 2022, Loncor Gold Inc. announced the company has issued 6,750,000 units at a price of CAD 0.50 for gross proceeds of 3,375,000. Each Unit consists of one common share of the Company and one-half of one common share purchase warrant (each whole common share purchase warrant, a "Warrant") of the Company, with each Warrant entitling the holder thereof to acquire one common share of the Company at an exercise price of CAD 0.75 for a period of 24 months following the closing date of the Financing.
The company received $1,853,909 (CAD 2,370,000.255676) from 5 investors pursuant to exemption provided under Regulation D. Annuncio • May 28
Loncor Gold Inc. announced that it expects to receive CAD 2.5 million in funding Loncor Gold Inc. announced a non-brokered private placement of up to 5,000,000 units at an issue price of CAD 0.50 per unit for gross proceeds of up to CAD 2,500,000 on May 27, 2022. Each unit will consist of one common share and one-half of one common share purchase warrant. Each warrant will be exercisable to purchase one common share of the company at a price of CAD 0.75 for a period of 24 months following the closing date of the transaction. The Closing of the transaction is subject to receipt of all necessary approvals, including board and Toronto Stock Exchange approvals. Annuncio • May 07
Loncor Gold Inc., Annual General Meeting, Jun 29, 2022 Loncor Gold Inc., Annual General Meeting, Jun 29, 2022. Recent Insider Transactions • Mar 06
Chief Executive Officer recently bought CA$72k worth of stock On the 2nd of March, John Barker bought around 128k shares on-market at roughly CA$0.56 per share. This was the largest purchase by an insider in the last 3 months. John has been a buyer over the last 12 months, purchasing a net total of CA$142k worth in shares. Annuncio • Feb 10
Loncor Gold Inc. Files Adumbi Pea Technical Report Confirming Annual Gold Production of 303,000 Ounces/Year At A Feed Grade of 2.17 G/T over 10.3 Year Mine Life Loncor Gold Inc. announced that it has filed on SEDAR a National Instrument 43-101 technical report relating to the Preliminary Economic Assessment ("PEA") of the Company's proposed open pit Adumbi gold deposit within its 84.68%-owned Imbo Project in the Democratic Republic of the Congo (the "DRC") Results of the Adumbi PEA were reported in the Company's December 15, 2021 press release. Average annual production for Adumbi of 303,000 ounces of gold over a 10.3 mine life within proposed pit shell at an average feed of 2.17 g/t Au over the proposed pit life. Pre-tax NPV (5% discount) of US$895 million and post-tax NPV of US$624 million for HEP Hybrid case at a USD 1,600 gold price. Using a US$1,760 gold price, post-tax NPV (5% discount) of US$879 million for HEP Hybrid case. Average total cash costs of US$852 per ounce over life of mine and AISC of US$950 per ounce for HEP Hybrid case. The Adumbi Indicated Mineral Resource of 1.88 million ounces of gold (28.185 million tonnes grading 2.08 g/t Au) and Inferred Mineral Resource of 1.78 million ounces of gold (20.828 million tonnes grading 2.65 g/t Au) constrained within a US$1,600 per ounce optimised pit shell. In addition, the Company reports that it has been in preliminary discussions with potential strategic partners with respect to further development of the Company's Adumbi and Makapela gold deposits. There is excellent exploration potential to further increase the mineral resources at Adumbi and within the Imbo Project area. At Adumbi, the mineralized BIF (Banded Ironstone Formation) host sequence increases in thickness below the open pit shell and wide spaced drilling has already intersected grades and thicknesses amenable to underground mining. Further drilling is required to initially outline a significant underground inferred mineral resource which can then be combined with the open pit mineral resource so that studies can be undertaken for a combined open pit and underground mining scenario at Adumbi. Besides increasing the resource base, a combined open pit/underground project could increase grade throughput and reduce strip ratios with the higher grade, deeper mineral resources being mined more economically by underground, which could increase annual gold production and drive down operating costs. Additional deposits and prospects occur close by to Adumbi and have the potential to add mineral resources and feed for the Adumbi mine development. Along trend from Adumbi, the Manzako and Kitenge deposits remain open along strike and at depth and further drilling is warranted on these two deposits, while further along the structural trend to the southeast across the Imbo river and within the Imbo Project, four prospects (Esio Wapi, Paradis, Museveni and Mungo Iko) have been outlined which require initial drilling. Annuncio • Sep 15
Latest Infill Holes Drilled At Loncor’s Adumbi Deposit Intersect Further Significant Widths and Grades Loncor Gold Inc. announced further significant assay results from its drilling program within its 84.68%-owned Imbo Project in the eastern part of the Ngayu greenstone belt in the Democratic Republic of the Congo. Borehole LADD021 drilled at its flagship Adumbi deposit, intersected 15.73 metres grading 5.28 grammes per tonne (g/t) gold (including 5.00 metres grading 13.70 g/t Au) while borehole LADD018 intersected 25.72 metres grading 2.26 g/t gold and borehole LADD022 intersected 21.50 metres grading 2.23 g/t gold. Note: It is estimated that the true widths of the mineralised sections for core holes LADD018, LADD019, LADD021 and LADD022 are, respectively, 75%, 65%, 73% and 58% of the intersected widths in the above table. In addition, the two holes that intersected grade closest to surface, LADD019 and LADD022, experienced poor associated core recoveries in places, in which case, core loss material was assigned zero grade.Regular measurements of inclination and azimuth were taken at 30 metre intervals down the hole and all the core was orientated. All intercepted grades are uncut with maximum internal dilution equal to or less than 4 metres of intersected width. Drill cores for assaying were taken at a maximum of one-metre intervals and were cut with a diamond saw, with one-half of the core placed in sealed bags by Company geologists and sent to the Company’s on-site sample preparation facility. The core samples were then crushed down to 80% passing minus 2 mm and split with one half of the sample up to 1.5 kg pulverized down to 90% passing 75 microns. Approximately 150 grams of the pulverized sample was then sent to the SGS Laboratory in Mwanza, Tanzania (independent of the Company). Gold analyses were carried out on 50g aliquots by fire assay. In addition, check assays were also carried out by the screen fire assay method to verify high-grade sample assays obtained initially by fire assay. As part of the Company’s QA/QC procedures, internationally recognized standards, blanks and duplicates were inserted into the sample batches prior to submitting to SGS Laboratory. Recent Insider Transactions • Aug 28
Insider recently bought CA$71k worth of stock On the 24th of August, John Barker bought around 100k shares on-market at roughly CA$0.71 per share. This was the largest purchase by an insider in the last 3 months. Insiders have collectively bought CA$127k more in shares than they have sold in the last 12 months. Annuncio • Aug 21
Loncor Gold Inc. Announces Further Significant Assay Results from Its Drilling Program in the Democratic Republic of the Congo Loncor Gold Inc. announced further significant assay results from its drilling program within its 84.68%-owned Imbo Project in the eastern part of the Ngayu greenstone belt in the Democratic Republic of the Congo. The deepest borehole drilled to date at its Adumbi deposit, LADD016, intersected 25.59 metres grading 2.39 grammes per tonne (g/t) gold (including 6.09 metres grading 4.78 g/t Au) and 8.09 metres grading 1.90 g/t Au. Mineralized sections for borehole LADD016 are summarised: Borehole number: LADD016 from 672.85 m to 680.94 m and intersected width 8.09 m and grade 1.90 (g/t) Au; LADD016 from 731.51 m to 757.10 m and intersected width 25.59 m and grade 2.39 (g/t) Au; including from 737.18 m to 743.27 m and intersected width 6.09 m and grade 4.78 (g/t) Au; including from 749.67 m to 752.56 m and intersected width 2.89 m and grade 4.98 (g/t) Au; LADD016 from 765.55 m to 768.36 m and intersected width 2.81 m and grade 2.42 (g/t) Au. Borehole LADD016 had an inclination of minus 75 degrees and azimuth of 218 degrees at the start of hole and regular measurements of inclination and azimuth were taken at 30 metre intervals down the hole. All core was orientated, and it is estimated that the true widths of the mineralised sections are approximately 71% of the intersected width. All intercepted grades are uncut with maximum internal dilution equal to or less than 4 metres of intersected width. Drilling is continuing at Adumbi with two drill rigs and is focusing on infill drilling within the inferred mineral resource open pit to generate indicated resources as well as below the pit to generate underground resources. Annuncio • Jul 24
Loncor Gold Inc. announced that it has received CAD 5.495 million in funding On July 23, 2021, Loncor Gold Inc. closed the transaction. The company amended the terms of the transaction. The company issued 7,850,000 units for gross proceeds of CAD 5,495,000. Annuncio • Jul 14
Loncor Gold Inc. Announces Further Significant Assay Results from the Drilling Program within its Imbo Project in the Eastern Part of the Ngayu Greenstone Belt in the Democratic Republic of the Congo Loncor Gold Inc. announced further significant assay results from its drilling program within its 84.68%-owned Imbo Project in the eastern part of the Ngayu greenstone belt in the Democratic Republic of the Congo. Borehole LADD017 drilled at its Adumbi deposit, intersected 25.77 metres grading 6.24 grammes 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 the core was orientated. All intercepted grades are uncut with maximum internal dilution equal to or less than 4 metres of intersected width. Commenting on these latest drilling results, 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. The 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. Disseminated sulphide assemblages include pyrite, pyrrhotite and arsenopyrite which can attain up to 20% of the total rock in places. Drill cores for assaying were taken at a maximum of one-metre intervals and were cut with a diamond saw, with one-half of the core placed in sealed bags by Company geologists and sent to the Company’s on-site sample preparation facility. The core samples were then crushed down to 80% passing minus 2 mm and split with one half of the sample up to 1.5 kg pulverized down to 90% passing 75 microns. Approximately 150 grams of the pulverized sample was then sent to the SGS Laboratory in Mwanza, Tanzania (independent of the Company). Gold analyses were carried out on 50g aliquots by fire assay. In addition, check assays were also carried out by the screen fire assay method to verify high-grade sample assays obtained initially by fire assay. As part of the Company’s QA/QC procedures, internationally recognized standards, blanks and duplicates were inserted into the sample batches prior to submitting to SGS Laboratory. Annuncio • Jun 30
Loncor Gold Inc. announced that it expects to receive CAD 4.9 million in funding Loncor Gold Inc. (TSX:LN) announced a non-brokered private placement of up to 7,000,000 units at a price of CAD 0.70 per share for gross proceeds of up to CAD 4,900,000 on June 28, 2021. Each unit will consist of one common share and one-half of one common share purchase warrant, with each warrant entitling the holder thereof to acquire one common share at an exercise price of CAD 0.95 for a period of 12 months following the closing date. Certain insiders of the company have agreed to purchase a total of up to 15% of the units. The transaction is subject to receipt of all necessary approvals, including board and Toronto Stock Exchange approvals. Annuncio • Jun 18
Loncor Gold Inc. Announces Award of Adumbi PEA to SENET and Minecon Loncor Gold Inc. announced that it has awarded the Preliminary Economic Assessment (“PEA”) relating to the Company’s Imbo Project inferred mineral resource of 3.466 million ounces of gold (42.996 million tonnes grading 2.51 g/t Au). 84.68% of this gold resource is attributable to Loncor via its 84.68% interest in the Imbo Project. The focus of the PEA will be on the Adumbi deposit where an inferred mineral resource of 3.153 million ounces of gold (41.316 million tonnes grading 2.37 g/t Au) has been delineated within a USD 1,500 per ounce pit shell. SENET and DRA Global have been involved in numerous gold mining projects on the African continent including the feasibility and EPCM contracts on Barrick Gold/AngloGold Ashanti’s Kibali mine, situated 220 kilometres to the northeast of Adumbi. SENET will assist in the metallurgical testwork as well as undertaking mineral processing plant design and flowsheet and project infrastructure including water, power, tailings dam facility and the associated determination of capital and operating costs. The current focus of the Company’s ongoing drill program at the Adumbi deposit is to outline substantial underground resources at depth below the 3.15 million ounce inferred resource pit shell where higher grades are being intersected, as well as other prospects in close vicinity to Adumbi. The Imbo mineral resources are in addition to Loncor’s resources at its Makapela Project where there is an indicated mineral resource of 614,200 ounces of gold (2.20 million tonnes grading 8.66 g/t Au) and an inferred mineral resource of 549,600 ounces of gold (3.22 million tonnes grading 5.30 g/t Au). Loncor’s Makapela Project is located approximately 50 kilometres from the Imbo Project. Annuncio • Jun 12
Loncor Gold Inc Files Updated NI 43-101 Technical Report on Imbo Project, Confirming Inferred Mineral Resource Increase to 3.466 Million Ounces Loncor Gold Inc. announced that it has filed on SEDAR an updated National Instrument 43-101 technical report (the “Technical Report”) relating to the Company’s Imbo Project, in particular, the increased gold mineral resource estimate for the Adumbi deposit found within the Imbo Project reported in the Company’s April 27, 2021 press release. The Imbo Project inferred mineral resource increased by 38% to 3.466 million ounces of gold (42.996 million tonnes grading 2.51 g/t Au). 84.68% of this gold resource is attributable to Loncor via its 84.68% interest in the Imbo Project. Within the Imbo Project, the Adumbi deposit inferred mineral resource increased by 44% to 3.153 million ounces of gold (41.316 million tonnes grading 2.37 g/t Au) (the Adumbi deposit is one of the three deposits at Imbo currently with a resource). The 3.153 million ounce inferred resource at Adumbi was constrained within a US$1,500 per ounce open pit shell where appropriate input parameters for mining, processing and G&A costs, pit slopes and metallurgical recoveries were applied. The current focus of the Company’s ongoing drill program at the Adumbi deposit is to outline substantial underground resources at depth below the 3.153 million ounce inferred resource pit shell where higher grades are being intersected. The Imbo mineral resources are in addition to Loncor’s resources at its Makapela Project where there is an indicated mineral resource of 614,200 ounces of gold (2.20 million tonnes grading 8.66 g/t Au) and an inferred mineral resource of 549,600 ounces of gold (3.22 million tonnes grading 5.30 g/t Au). Loncor’s Makapela Project is located approximately 50 kilometres from the Imbo Project. Annuncio • May 26
Loncor Resources Inc. Announces Further Significant Assay Results from the Drilling Program Within its Imbo Project in the Eastern Part of the Ngayu Greenstone Belt in the Democratic Republic of the Congo Loncor Resources Inc. announced further significant assay results from its drilling program within its 84.68%-owned Imbo Project in the eastern part of the Ngayu greenstone belt in the Democratic Republic of the Congo. Borehole LADD013 drilled at its flagship Adumbi deposit, intersected 20.00 metres grading 4.21 grammes per tonne (g/t) gold (including 11.00 metres grading 6.91 g/t Au), 17.30 metres grading 2.48 g/t gold (including 8.20 metres grading 4.71 g/t Au) and 7.04 metres grading 2.68 g/t gold. Borehole LADD013 had an inclination of minus 72 degrees and azimuth of 218 degrees at the start of hole and regular measurements of inclination and azimuth were taken at 30 metre intervals down the hole. All core was orientated, and it is estimated that the true widths of the mineralised sections are approximately 85% of the intersected width. All intercepted grades are uncut with maximum internal dilution equal to or less than 4 metres of intersected width. Borehole LADD013 intersected the mineralization at a depth of approximately 65 metres below the open pit shell. Commenting on these latest drilling results, Loncor President Peter Cowley said: “Borehole LADD013 was targeting the northwest edge of the mineralization but encountered a better than expected thickness of the banded ironstone package as well as grades due to the increased higher grade zones of 'Replacement Rock' drilled. This suggests a shallower northwest plunge to the mineralization than the previously indicated sub vertical plunge at depth. The gold mineralization at Adumbi is associated with a thick package (up to a ma ximum 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. Disseminated sulphide assemblages include pyrite, pyrrhotite and arsenopyrite which can attain up to 20% of the total rock in places. The objective of the current drilling program at Adumbi is to outline additional mineral resources to the current inferred mineral resource of 3.46 million ounces of gold on Loncor’s 84.68%-owned Imbo Project which contains the Adumbi, Kitenge and Manzako deposits (total inferred mineral resources of 43.0 million tonnes grading 2.51 g/t Au on these three deposits). Annuncio • Apr 29
Loncor Resources Inc. Increases Open Pit Mineral Resources by 44% to 3.15 Million Ounces of Gold at its Adumbi Deposit Loncor Resources Inc. announced a 44% increase in mineral resources at its Adumbi deposit in the Imbo Project (Loncor 84.68%) in the D.R. Congo. Compared to the inferred mineral resource of 2.19 million ounces of gold (28.97 million tonnes grading 2.35 g/t Au) outlined in April 2020 (see Company press release dated April 17, 2020), further drilling has now increased the Adumbi inferred mineral resource by 44% to 3.15 million ounces of gold (41.316 million tonnes grading 2.37 g/t Au), constrained within a US$1,500 open pit shell. 84.68% of this inferred mineral resource is attributable to Loncor via its 84.68% interest in the Imbo Project. Drilling Results included in Mineral Resource Update: An additional six core holes totaling 2,557.25 metres were drilled with the initial focus in areas within the pit shell where insufficient drilling had been undertaken to outline mineral resources. Later drilling has and is being undertaken at depth below the open pit shell to outline potential underground mineral resources. Core Logging & Geological Controls: Gold mineralization at Adumbi is found within a BIF (Banded Iron Formation) unit with a strike length of 850 metres and up to 130 metres in thickness. Four main zones of gold mineralization are present within the BIF and are located in: the upper part of the Upper BIF Sequence, the lower part of the Upper BIF Sequence separated by the Carbonaceous Marker, which is essentially unmineralized, and within the Lower BIF Sequence. There is a higher-grade zone of gold mineralization termed the Replaced Rock Zone (“RP Zone”) associated with alteration and structural deformation that has destroyed the primary host BIF fabric. The RP Zone occurs in the lower part of the Upper BIF and in the Lower BIF, and transgresses the Carbonaceous Marker, located between the Upper and Lower BIF zones, both along strike and down dip. Geological Modelling and Grade Estimation: The Adumbi 3-dimensional model was constructed by Minecon in collaboration with on site geologists using cross sectional and horizontal flysch plans of the geology and mineralization and was used to assist in the constraining of the 3-D geological model. The mineralization model was constrained within a wireframe at 0.5 g/t Au cut-off grade. Grade interpolation was undertaken using: 2 metre sample composites capped at 18 g/t Au to improve the reliability of the block grade estimates; Ordinary Kriging to interpolate grades into the block model; Relative densities of 2.45 for oxide, 2.82 for transitional and 3.05 for fresh rock were applied to the block model for tonnage estimation. Annuncio • Mar 05
Loncor Resources Inc. Announces Additional Results from Infill Drilling Within Open Pit Shell at its Adumbi Deposit Loncor Resources Inc. announced further significant assay results from its drilling program within its 84.68% owned Imbo Project in the eastern part of the Ngayu greenstone belt in the Democratic Republic of the Congo. The final infill core hole within the Adumbi open pit shell, LADD008 intersected 43.10 metres grading 1.68 g/t gold, 0.78 metres grading 21.8 g/t gold and 14.98 metres grading 3.62 g/t gold including 3.09 metres grading 13.28 g/t gold. Borehole LADD008 intersected the mineralization at a vertical depth of 272 metres below surface and within the southeastern boundary of the USD 1,500 open pit shell, and had an inclination of minus 65 degrees and azimuth of 218 degrees at the start of hole and regular measurements of inclination and azimuth were taken at 30 metre intervals down the hole. All core was orientated, and it is estimated that the true widths of the mineralised sections are 62% of the intersected width. All intercepted grades are uncut. Drilling is now focussed on the downdip/down plunge extensions below the open pit shell where the gold mineralization remains open. The deepest core hole of this drilling campaign, LADD009 has now been completed and assays are awaited. Boreholes LADD011 and LADD012 are currently being drilled (LADD010 was abandoned before reaching target depth due to mechanical problems and LADD012 is being drilled in its place). 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 Loncor’s 84.68%-owned Imbo Project which contains the Adumbi, Kitenge and Manzako deposits (inferred mineral resources of 30.65 million tonnes grading 2.54 g/t Au). Drill cores for assaying were taken at a maximum of one-metre intervals and were cut with a diamond saw, with one-half of the core placed in sealed bags by Company geologists and sent to the Company’s on-site sample preparation facility. The core samples were then crushed down to 80% passing minus 2 mm and split with one half of the sample up to 1.5 kg pulverized down to 90% passing 75 microns. Approximately 150 grams of the pulverized sample was then sent to the SGS Laboratory in Mwanza, Tanzania (independent of the Company). Gold analyses were carried out on 50g aliquots by fire assay. In addition, check assays were also carried out by the screen fire assay method to verify high-grade sample assays obtained initially by fire assay. As part of the Company’s QA/QC procedures, internationally recognized standards, blanks and duplicates were inserted into the sample batches prior to submitting to SGS Laboratory. Annuncio • Feb 25
Loncor Resources Inc. Continues to Define Four Extensive Mineralized Trends to Southeast of Key Adumbi Deposit Loncor Resources Inc. announced that recent soil geochemical results have outlined four significant, undrilled mineralised trends at its 84.68%-owned Imbo Project. The focus of greenfields exploration by Loncor at Imbo East, along trend to the southeast from the 2.5 million ounce Adumbi, Kitenge and Manzako deposits (inferred mineral resources of 30.65 million tonnes grading 2.54 g/t Au) previously delineated in the northwest of the 122 square kilometre project area. Core drilling is currently being undertaken at Adumbi to increase this resource base. Analytical results have now been received for all soil samples from the completed 5.4 kilometre by 2.3 kilometre grid, east of the Imbo River where soil samples were collected every 40 metres on lines 160 metres apart. Geological mapping, soil geochemical, rock chips and channel sampling of old colonial trenches and artisanal workings have outlined four significant mineralised trends - Esio Wapi, Museveni, Mungo Iko and Paradis - approximately 8 to 10 kilometres southeast of the Adumbi deposit. At Esio Wapi, soil geochemical results have outlined a number of plus 130 ppb Au (parts per billion)
gold in soil anomalies with a maximum value of 2,230 ppb Au over a 1.9 kilometre long mineralis ed
trend. As announced previously, channel sample results from old colonial workings included 19.80 metres grading 1.58 g/t Au
(open to the northeast), 8 metres grading 1.11 g/t Au and 5.0 metres grading 1.65 g/t Au in brecciated
banded ironstone (BIF) and metasediment. Individual rock sample values included 15.10 g/t and 7.88
g/t Au in quartz veins, 6.39 g/t and 3.08 g/t Au in BIF and 9.06 g/t, 7.91 g/t and 3.24 g/t Au in
metasediments. Annuncio • Feb 19
Loncor Announces Significant Gold Mineralization At Depth from Its Adumbi Deposit Loncor Resources Inc. announced further significant assay results from its drilling program within its 84.68% owned Imbo Project in the eastern part of the Ngayu greenstone belt in the Democratic Republic of the Congo. The deepest borehole drilled to date at its Adumbi deposit, LADD007 intersected 55.43 metres grading 2.76 g/t gold (including 12.45 metres grading 8.11 g/t Au). Assay results were also received for core hole LADD006, which was a shallower hole drilled on the northeastern contact of the Adumbi deposit, with expected grades and widths. Borehole LADD007 had an inclination of minus 68 degrees and azimuth of 218 degrees at the start of hole and regular measurements of inclination and azimuth were taken at 30 metre intervals down the hole. All core was orientated, and it is estimated that the true widths of the mineralised sections are approximately 89% of the intersected width. All intercepted grades are uncut. Borehole LADD007 intersected the mineralization at a depth of 100 metres below S52 and approximately 40 metres below the open pit. Borehole LADD006 had an inclination of minus 58 degrees
and azimuth of 218 degrees and it is estimated that the true widths of the mineralised sections of LADD006 are approximately 95% of the intersected width. 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. Disseminated sulphide assemblages include pyrite, pyrrhotite and arsenopyrite which can attain up to 20% of the total rock in places. 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 Loncor's 84.68%-owned Imbo Project which contains the Adumbi, Kitenge and Manzako deposits (inferred mineral resources of 30.65 million tonnes grading 2.54 g/t Au). Quality Control and Quality Assurance Drill cores for assaying were taken at a maximum of one-metre intervals and were cut with a diamond saw, with one-half of the core placed in sealed bags by Company geologists and sent to the Company's on-site sample preparation facility. The core samples were then crushed down to 80% passing minus 2 mm and split with one half of the sample up to 1.5 kg pulverized down to 90% passing 75 microns. Approximately 150 grams of the pulverized sample was then sent to the SGS Laboratory in Mwanza, Tanzania (independent of the Company). Gold analyses were carried out on 50g aliquots by fire assay. In addition, check assays were also carried out by the screen fire assay method to verify high-grade sample assays obtained initially by fire assay. As part of the Company's QA/QC procedures, internationally recognized standards, blanks and duplicates were inserted into the sample batches prior to submitting to SGS Laboratory. Annuncio • Jan 23
Loncor Resources Inc. announced that it expects to receive CAD 5 million in funding Loncor Resources Inc. (OTCPK:LONC.F) is pleased to announce a non-brokered private placement of up to 10,000,000 units at a price of CAD 0.50 per share for gross proceeds of up to CAD 5,000,000 on January 22, 2021. Each unit will consist of one common share and one-half of one common share purchase warrant, with each warrant entitling the holder thereof to acquire one common share at an exercise price of CAD 0.75 for a period of 12 months following the closing date. Certain insiders of the company have agreed to purchase a total of up to 20% of the units. The transaction is subject to receipt of all necessary approvals, including board and Toronto Stock Exchange approvals. Is New 90 Day High Low • Jan 15
New 90-day low: CA$0.50 The company is down 12% from its price of CA$0.57 on 16 October 2020. The Canadian market is up 12% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Metals and Mining industry, which is down 3.0% over the same period. Annuncio • Jan 06
Loncor Resources Inc. Continues to Intersect Significant Gold Mineralization At Its Adumbi Flagship Deposit Loncor Resources Inc. announced that the third core hole of a 7,000 metre drilling program at its Adumbi deposit has intersected significant gold intersections of 28.00 metres grading 3.26 g/t gold (including 4.90 metres grading 6.96 g/t Au and 3.53 metres grading 8.30 g/t Au) and 20.30 metres grading 2.83 g/t Au (including 6.55 metres grading 4.64 g/t Au and 2.30 metres grading 7.25 g/t Au) at its 84.68% owned Imbo Project in the eastern part of the Ngayu greenstone belt in the Democratic Republic of the Congo. Borehole LADD004 had an inclination of minus 70 degrees and azimuth of 220 degrees at the start of hole and regular measurements of inclination and azimuth were taken at 30 metre intervals down the hole. All core was orientated and it is estimated that the true widths of the mineralised sections are 81% of the intersected width. All intercepted grades are uncut. LADD004 intersected the mineralized zone at a shallower depth than planned due to upward deflection of the borehole. 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. Disseminated sulphide assemblages include pyrite, pyrrhotite and arsenopyrite which can attain up to 20% of the total rock in places. 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 Loncor's 84.68%-owned Imbo Project which contains the Adumbi, Kitenge and Manzako deposits (inferred mineral resources of 30.65 million tonnes grading 2.54 g/t Au). Drill cores for assaying were taken at a maximum of one-metre intervals and were cut with a diamond saw, with one-half of the core placed in sealed bags by Company geologists and sent to the Company's on-site sample preparation facility. The core samples were then crushed down to 80% passing minus 2 mm and split with one half of the sample up to 1.5 kg pulverized down to 90% passing 75 microns. Approximately 150 grams of the pulverized sample was then sent to the SGS Laboratory in Mwanza, Tanzania (independent of the Company). Gold analyses were carried out on 50g aliquots by fire assay. In addition, check assays were also carried out by the screen fire assay method to verify high-grade sample assays obtained initially by fire assay. As part of the Company's QA/QC procedures, internationally recognized standards, blanks and duplicates were inserted into the sample batches prior to submitting to SGS Laboratory. Annuncio • Dec 01
Loncor Resources Inc. Reports Multiple Gold Intercepts in First Hole At Its Flagship Adumbi Deposit Loncor Resources Inc. announced that the first core hole of a 7,000 metre drilling program at its Adumbi deposit has intersected multiple gold sections including 20.33 metres grading 2.47 g/t gold (including 4.8 metres grading 5.40 g/t Au), 7.33 metres grading 5.80 g/t Au and 20.77 metres grading 1.72 g/t Au, on its 84.68% owned Imbo Project in the eastern part of the Ngayu greenstone belt in the Democratic Republic of the Congo. Borehole LADD001 had an inclination of minus 65 degrees and azimuth of 220 degrees at the start of hole and regular measurements of inclination and azimuth were taken at 30 metre intervals down the hole. All core was orientated and it is estimated that the true widths of the mineralised sections are 82% of the intersected width. All intercepted grades are uncut. he 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. Disseminated sulphide assemblages include pyrite, pyrrhotite and arsenopyrite which can attain up to 20% of the total rock in places. The objective of the 7,000 metre drilling program is to outline additional mineral resources to the current 2.5 million ounces on Loncor’s 84.68%-owned Imbo Project which contains the Adumbi, Kitenge and Manzako deposits (inferred mineral resources of 30.65 million tonnes grading 2.54 g/t Au). At the Adumbi deposit where there is a current inferred resource of 2.19 million ounces of gold (28.97 million tonnes grading 2.35 g/t Au), drilling is targeting mineralized zones within the US$1,500 open pit shell where closer spaced holes such as LADD001 are required to delineate additional mineral resources. Drilling will also focus on outlining mineral resources below the pit shell where the gold mineralization remains open at depth over a strike length of over 600 metres. In addition to core hole LADD001, LADD003 has now been completed to the southeast of LADD001 and within the open pit shell and will be submitted for assay. Deeper holes LADD004 and LADD005 are currently being drilled to intercept the downdip/down plunge mineralized zone below the open pit (see Figure 2 - Longitudinal Section of the Adumbi Deposit). Hole LADD004 is targeting mineralization 150 metres below previous hole S53 drilled in 2017 which intersected 23.5 metres grading 6.08 g/t Au and 9.37 metres grading 3.70 g/t at the base of the open pit shell. Commenting on these drilling results. Exploration is also ongoing on new targets along the 14 kilometre long mineralized trend on the Imbo permit in order to generate additional drill targets. Drill cores for assaying were taken at a maximum of one-metre intervals and were cut with a diamond saw, with one-half of the core placed in sealed bags by Company geologists and sent to the Company’s on-site sample preparation facility. The core samples were then crushed down to 80% passing minus 2 mm and split with one half of the sample up to 1.5 kg pulverized down to 90% passing 75 microns. Approximately 150 grams of the pulverized sample was then sent to the SGS Laboratory in Mwanza, Tanzania (independent of the Company). Gold analyses were carried out on 50g aliquots by fire assay. In addition, check assays were also carried out by the screen fire assay method to verify high-grade sample assays obtained initially by fire assay. As part of the Company’s QA/QC procedures, internationally recognized standards, blanks and duplicates were inserted into the sample batches prior to submitting to SGS Laboratory. Annuncio • Nov 25
Loncor Resources Inc. Provides Exploration Update on Barrick Joint Venture Loncor Resources Inc. to provide an update on its exploration activities within the Ngayu greenstone belt, where the Company has a joint venture with Barrick Gold (DRC) Limited (“Barrick”) as well as its own majority-owned projects. Loncor received exploration reports from joint venture partner Barrick, who are managing and funding the joint venture that covers approximately 2,000 square kilometres of the Ngayu Archean greenstone belt. As announced previously, Barrick commenced a scout drilling program on a number of prospects in the Ngayu greenstone belt as well as continuing to delineate additional priority targets for follow-up drilling. Scout drilling was undertaken at the Medere, Bakpau and Anguluku prospects to better understand the subsurface geology including the structural setting for the gold mineralisation at these targets. Ongoing ground exploration has also outlined additional high priority drill targets at Mokepa and Mongaliema and where some of the most significant trench results since the start of the Barrick joint venture have been obtained. The east-west trending Medere mineralized zone is located approximately 10 kilometres south of Makapela and subparallel and 250 metres in the footwall to the south of the Makasi/Itali trend. Both these trends are located along a shear corridor between basalts and carbonaceous meta sediments coincident with a 800 metre long +100ppb gold in soil anomaly. Previous drilling along the Itali mineralized trend by Loncor intersected significant gold mineralization including 38.82 metres grading 2.66 g/t Au in core hole NIDD0001 and 14.70 metres grading 1.68 g/t and 3.95 metres grading 19.50 g/t Au in core hole NIDD0004 and where the depth of complete oxidation exceeded 130 metres. Three core holes were drilled by Barrick to obtain a better understanding of the structural setting of the mineralization at Medere and its relationship to the Itali mineralized trend with the best intersection to date of 9.05 metres grading 3.75 g/t Au from 39.82 metres in core hole ITDD0003 which is located 200 metres east of the Loncor hole NIDD0001. The Itali mineralized trend remains open to the east and further drilling is warranted on this mineralized trend. Drilling at the Bakpau and Anguluku prospects were undertaken to test various geological concepts. At Bakpau, the favourable geological setting of a mineralized shear system hosted mainly within a coarse-grained quartz-monzonite intrusion at the contact with sheared and brecciated banded ironstone was tested. Resampling of old trenches outlined wide zones of gold mineralization including 70 metres grading 0.34 g/t Au and 33 metres grading 0.53 g/t Au. Two holes have been drilled and final assay results are awaited. At Anguluku, drilling was undertaken to test a complexly folded and thrust banded ironstone sequence below a barren overlying banded ironstone unit. Drilling results indicated that this prospect did not have the potential for hosting a Tier one deposit to meet Barrick’s filters and no further drilling is planned at this prospect. At the Yambenda/Yasua prospect in the north of the Ngayu greenstone belt, a core rig has now been mobilised to test the prominent +9 kilometre long banded ironstone ridge associated with a number of +100 ppb gold in soil anomalies. A number of core hole sections will be drilled to fully evaluate this extensive strike length. Ongoing exploration within the Ngayu joint venture generated new priority drill targets that have the potential to attain Barrick’s Tier 1 status at Mokepa and Mongaliema. The Mokepa target is located on the northern margin of the major domain boundary adjacent to the interpreted F2 fold hinge in a structural setting similar to Barrick’s Kibali mine. The subsequent field mapping and trenching has defined a corridor of matrix-supported rheological contrast with complex geology composed of banded ironstone formation (BIF) and basalt interbedded with fine-grained sediments mainly with moderate to strong shearing associated with an alteration assemblage of moderate to intense silica-limonite-sericite+boxworks. Encouraging trench results have been received from trenches ADTR0004 and ADTR0005, 600 metres apart with wide zones of gold mineralization of 110 metres grading 0.50 g/t Au and 32 metres grading 0.99 g/t Au. Assay results are awaited from trench ADTR0006 which is located 1.5 kilometres southwest of trench ADTR0004 and where a 80 metre wide zone of sheared, altered and fractured BIF and basalt has been excavated (see Figure 2 below). The first core hole at Mokepa has now commenced. Mongaliema is situated approximately 7 kilometres northwest of Loncor’s 100%-owned Makapela project where indicated mineral resources of 614,200 ounces (2.2 million tonnes grading 8.66 g/t Au) and 549,600 ounces (3.22 million tonnes grading 5.30 g/t Au) of inferred mineral resources have already been outlined by Loncor. The target area is a west northwest trending shear zone hosted within altered meta sediments with cherty units near the contact of a dolerite intrusive. During the quarter, geological mapping, auger drilling, scout-pitting and trenching was undertaken with an encouraging trench/artisanal pit assay result of 37.3 metres grading 1.48 g/t Au plus several rock samples from old artisanal workings yielding gold mineralization including 14.9 g/t, 5.23g/t, 2.9g/t and 2.43g/t Au. Pitting, trenching and augering is continuing to determine the full extent of this mineralized system. Annuncio • Nov 12
Loncor Resources Inc. and Barrick Gold Further Strengthen Joint Venture Relationship in DRC Loncor Resources Inc. announced that it has entered into two new agreements with its joint venture partner Barrick Gold (DRC) Limited which further strengthen the Loncor and Barrick joint venture relationship in the Ngayu gold belt in the northeast of the Democratic Republic of the Congo (“DRC”). The ground covered by these agreements includes a number of priority, exploration targets already outlined by Barrick, two of which are ready for initial scout, core drilling. Total acreage under the various Barrick/Loncor joint ventures in Ngayu now totals approximately 2,000 square kilometres. In the first new agreement, three exploration properties in the Ngayu gold belt previously held by Barrick outside of its joint ventures with Loncor, have now been added to an existing Loncor/Barrick joint venture agreement (the “Amended Barrick JV”). These three Barrick properties are located northwest of Loncor’s 100%-owned Makapela project where indicated mineral resources of 614,200 ounces (2.2 million tonnes grading 8.66 g/t Au) and 549,600 ounces (3.22 million tonnes grading 5.30 g/t Au) of inferrred mineral resources have already been outlined by Loncor. Two significant targets have been delineated by Barrick at Mongaliema (7 kilometres northwest of Makapela) and Ntokayulu (3 kilometres northwest of Makapela). At Mongaliema, trenching and augering is continuing along a west northwest trending shear zone with trench results including 37.3 metres grading 1.48 grammes per tonne of gold. In the second new agreement (the “New Isiro JV”), Loncor and Barrick have replaced the existing joint venture agreement between Barrick and Loncor relating to the Isiro properties in the Ngayu gold belt, to focus on the three most prospective Isiro properties. These three Isiro properties include two of the drill targets identified by Barrick, Yambenda and Yasua, and which Barrick plans to drill as part of its ongoing drill campaign on priority targets in the Ngayu gold belt. At Yambenda, a 9.5 kilometre long banded ironstone ridge has a number of gold in soil anomalies. In addition to the above agreements, a new drill target has been outlined by Barrick on one of the properties which is part of the Barrick/Loncor joint venture entered into in June of this year. At the Mokepa target, scout core drilling is due to commence shortly on a +250ppb gold-in-soil anomaly extending over 1,600 metres and where encouraging trench results of 110 metres grading 0.5 grammes per tonne gold and 32 metres grading 0.99 grammes per tonne gold have been outlined. At Mokepa, the mineralized system consists of banded ironstones in mafic volcanics sandwiched between conglomerate and carbonaceous shale. Annuncio • Sep 22
Loncor Resources Inc. Announces Exploration Results from 84.68%-Owned Imbo Project Loncor Resources Inc. announced that the recent exploration results have outlined a number of significant, undrilled mineralised trends at its 84.68%-owned Imbo Project. The focus of exploration by Loncor during 2020 has been along trend in the southeast of the Imbo Project from the 2.5 million ounce Adumbi, Kitenge and Manzako deposits (inferred mineral resources of 30.65 million tonnes grading 2.54 g/t Au) previously delineated in the northwest of the 122 square kilometre project area. Gridding, geological mapping, soil geochemical sampling and channel sampling of old colonial trenches and artisanal workings have outlined three significant mineralised trends, Esio Wapi, Paradis and Museveni, to the east of the Imbo river and approximately 8 to 10 kilometres southeast of the Adumbi deposit. Analytical results have been received for 21% of soil samples from the completed 5,440 metre by 2,320 metre grid and where soil samples were collected every 40 metres on lines 160 metres apart. At Esio Wapi, soil geochemical results have outlined a number of plus 200 ppb (parts per million) gold in soil anomalies with a maximum value of 2,230 ppb Au over a 3.2 kilometre long mineralised trend. Best channel samples from old colonial workings are tabulated in Table 1 above and include 19.80 metres grading 1.58 g/t Au (open to the northeast), 8 metres grading 1.11 g/t Au and 5.0 metres grading 1.65 g/t Au in brecciated banded ironstone (BIF) and metasediment. Individual rock sample values included 15.10 g/t and 7.88 g/t Au in quartz veins; 12.30 g/t and 6.39 g/t Au in BIF and 7.91 g/t, 4.81 g/t and 4.52g/t Au in metasediments. On the Paradis trend, soil sample results are still awaited from the eastern part of the trend but
soil anomalies (plus 200 ppb Au) in the western part of the trend occur over 800 metres of strike. Significant channel samples along the Paradis trend include 6.8 metres grading 5.44 g/t Au (open to the southwest) in metasediments with quartz veins. Individual rock sample values included 22.40 g/t, 5.84 g/t and 2.31 g/t Au in quartz veins. At Museveni, soil samples are still to be received but artisanal workings occur over a strike of 2.7 kilometres. Channel samples from the artisanal workings include 6.0 metres grading 4.37 g/t Au and 1.40 metres grading 62.10 g/t Au and represent high grade quartz veins in metasediment. Individual rock sample values included 53.90 g/t, 32.80 g/t and 32.60 g/t Au in quartz veins and 18.10 g/t Au in metasediment. Annuncio • Sep 04
Loncor Resources Inc. (OTCPK:LONC.F) acquired an additional unknown minority stake in Adumbi Mining SARL. Loncor Resources Inc. (OTCPK:LONC.F) acquired an additional unknown minority stake in Adumbi Mining SARL on September 3, 2020. Upon completion of the transaction, Loncor Resources will have 84.68% stake in Adumbi Mining. Pursuant to the transaction Adumbi Mining SARL will change its name to Adumbi Mining S.A.
Loncor Resources Inc. (OTCPK:LONC.F) completed the acquisition of an additional unknown minority stake in Adumbi Mining SARL on September 3, 2020. Annuncio • Aug 29
Loncor Resources Inc. announced that it has received CAD 5 million in funding On August 27, 2020, Loncor Resources Inc. (OTCPK:LONC.F) closed the transaction. The company issued 2,000,000 common shares for proceeds of CAD 1,000,000 in its second and final tranche. Annuncio • Jul 10
Loncor Resources Inc. announced that it expects to receive CAD 5 million in funding Loncor Resources Inc. (OTCPK:LONC.F)is pleased to announce a non-brokered private placement of up to 10,000,000 common shares at a price of CAD $0.50 per share for gross proceeds of up to CAD 5,000,000 on July 9, 2020. Certain insiders of the company have agreed to purchase a total of up to 50% of the offered shares. The transaction is subject to receipt of all necessary approvals, including board and Toronto Stock Exchange approvals.