Loncor to Resume Drilling on Its 3.66 Million Ounce Adumbi Deposit

Loncor Gold Inc. has announced the arrival of drilling equipment and personnel at the Adumbi camp, aiming to resume drilling at its flagship Adumbi gold project and four additional prospects within the Imbo exploitation licence in the Democratic Republic of Congo. Loncor Gold holds an 84.68% interest in these resources.

Two core rigs will target gold mineralisation below the open pit in an 11,000-metre-deep drilling program. An additional rig will undertake scout drilling of four exploration targets along the Adumbi mineralised structural trend.

The Adumbi resource, which holds an indicated mineral resource of 1.88 million ounces of gold and an inferred resource of 1.78 million ounces, remains open at depth below the USD1,600/oz pit shell. Fifteen intersections are proposed to outline an inferred underground mineral resource.

An initial 12-hole drill program will test four significant mineralized trends at Esio Wapi, Museveni, Mungo Iko, and Paradis, located 8 to 13 kilometres southeast from Adumbi. Geological mapping and sampling have outlined these mineralized trends.

The drilling has been enabled by cash raised from a Cdn$13.5 million asset sale announced in December 2023. Loncor's independent geological consultants have helped undertake the Adumbi underground exploration target estimation.