The new areas have yet to be drilled but are in close proximity to the 2.5-million-ounce Adumbi deposit on the firm's flagship project, according to the Toronto-based company.
Exploration work undertaken throughout 2020 has outlined three significant mineralized trends known as Esio Wapi, Paradis and Museveni, which are around eight to 10 kilometres (km) southeast of Adumbi.
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Soil geochemical results from Esio Wapi revealed numerous gold in soil anomalies with values of up to 2,230 parts per billion gold over a 3.2-kilometre-long trend, the company told shareholders. Channel sample results included 19.8 metres (m) grading 1.6 grams per ton (g/t) gold in brecciated banded ironstone (BIF) and metasediment. and individual rock samples of up to 15.1 g/t gold.
At Paradis, soil anomalies in the western area of the trend occur over 800 m of strike, with channel samples including 6.8 m of 5.4 g/t gold in metasediments and rock sample values of up to 22.4 g/t.
Museveni also shows channel samples from artisanal workings including 6 m grating 4.3 g/t gold and rock samples of up to 53.9 g/t gold.
Loncor is focused on the Ngayu Greenstone Belt in the northeast of the Democratic Republic of the Congo, an area 220 km southwest of the Kibali gold mine operated by Barrick Gold Corp (TSE:ABX) (NYSE:GOLD).
Loncor’s CEO Peter Crowley called the new exploration results “very encouraging.”
“Situated approximately 9 kilometres from our key deposit of Adumbi, we are very encouraged by the exploration results received to date on the eastern part of our Imbo Project,” Crowley said in a statement.
“Additional infill soil sampling, augering and channel sampling will be undertaken at Esio Wapi, Paradis and Museveni to better define these mineralised trends prior to outlining drill targets later in the year.”
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