Loncor Gold Inc. projects potential growth at Adumbi
Loncor Gold Inc. forecast promising developments and growth potential of Adumbi deposit in the Democratic Republic of the Congo (DRC).
Exploration targets suggest the presence of 8.9 to 9.6 million tonnes of gold ore with high grades. Gold Concentration Estimates: The estimated gold concentration in the Adumbi deposit ranges from 4.7 grams per tonne (g/t) to 4.9 g/t. This indicates a substantial quantity of gold within the ore.
Growth
Loncor’s CEO, John Barker, highlights the impressive growth of Adumbi’s high-grade gold resources since 2020, totaling 3.66 million ounces. The recent reclassification from inferred to indicated resources adds to the optimism regarding the deposit’s underground potential.
Loncor recently sold its Makapela asset for C$13.5 million, focusing on bolstering its efforts to expand the Adumbi deposit. This strategic move aligns with the company’s concentration on the development of Adumbi. Adumbi’s current resources include 1.88 million ounces of gold categorized as indicated and 1.78 million ounces as inferred. The deposit has 28.185 million tonnes at 2.08 g/t in the indicated category and 20.83 million tonnes at 2.65 g/t in the inferred category.
Exploration targets suggest that the Adumbi deposit extends deep underground, potentially up to 800 meters below the surface. Preliminary drilling results indicate promising signs of a gold-rich zone at greater depths. Loncor’s geological consultants, Minecon Resources and Services Limited, utilized advanced 3D modeling of the deposit’s geology and mineralization patterns to develop the underground exploration forecasts. Loncor’s focus on exploring and developing resources in challenging underground environments reflects a broader trend in the mining industry. Companies are increasingly looking for opportunities to expand resources through exploration in such environments.
The potential for expanding gold resources in the DRC, particularly at the Adumbi deposit, has garnered interest within the mining community. The results are still in the early stages, and further exploration is required to confirm the projections.
