CORPORATE UPDATE - Loncor Gold provides update on its drilling activities at Adumbi and on other targets along the 14 km prospective structural trend

CNW Group
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TORONTO, Oct. 28, 2024 /CNW/ - Loncor Gold Inc. ("Loncor" or the "Company") (TSX: LN) (OTCQX: LONCF) (FSE: LO5) is pleased to announce 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 (see Figure 1 below) and where an initial 12 hole (2,400 metre) drill program is planned.  To date, five shallow holes have been completed totalling 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 (see Table 1 below).  This gold mineralisation is found in quartz veins with disseminated pyrite, arsenopyrite and pyrrhotite in a silicified quartz carbonate schist.

Table 1

Borehole Number

From (m)

To (m)

Intersected

Width (m)

Grade (g/t) Au

LIDD003

118.62

119.80

1.18

69.7

LIDD003

205.85

206.70

0.85

22.9

 

Note:  It is estimated that the true widths of the mineralised sections for core hole LIDD003 is approximately 60% of the intersected widths in the above table.  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.

Loncor's Chief Executive Officer, John Barker, commented: "After some logistical challenges to get all the drilling equipment to site during the peak of the rainy season, drilling has now commenced on the deep drilling programme at Adumbi that has the potential to push the high-grade deposit towards Tier 1 status.  In addition, scout drilling has commenced on a number of targets along the 14 km structural trend to the southeast of Adumbi and where we are starting to get encouraging results."

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.

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