Loncor Gold to explore additional ground close to Adumbi resource in DRC

TSX-listed explorer Loncor Gold has applied for an exploitation permit relating to a 1.164 million ounce gold resource located around 50 km from its flagship Adumbi deposit in the Democratic Republic of Congo (DRC).

The Makapela Project in Northeastern DRC is owned 100% by Loncor with an indicated mineral resource of 614,200 ounces of gold and an inferred mineral resource of 549,600 ounces at a 2.75 g/t gold cut-off.

The current resource estimate for Makapela is not included in the December 2021 preliminary economic assessment (PEA) for Adumbi, which estimated a 3.66 million ounce gold resource.

Speaking about the company’s aimbitions at Makapela, Loncor CEO John Barker said: “Makapela represents a high-grade opportunity either as a potential feed source for a future gold operation at Adumbi, or as an independent stand-alone high-grade project.

“The deposit remains open at depth, along strike, plus has a number of parallel zones that require further investigation. Within close proximity, there are a number of other deposits such as Mokepa and Mongaliema that historically have been drilled and could hold the potential of future ore feed for Makapela.”

The award of a mining permit at Makapela would create a second avenue to release value held within the company’s deposits in the region, Barker added.

@RGNonline