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Loncor Resources Inc.
Summary
| Project: | Imbo | |
|---|---|---|
| Deposit: | Imbo | |
| Location: | Congo, Democratic Republic Of The | |
| Commodities: | Gold | |
| Date: | 4/17/2020 | |
| Report Code: | NI43-101 | |
| Report Type: | Resource Estimation | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 17-4-2020: Loncor Resources Inc. announces a Resource Estimation report for its Imbo deposit at the Imbo project. Updated Mineral Resource Estimate for Project. Toronto, Canada – April 17, 2020 – Loncor Resources Inc. ("Loncor" or the "Company") (TSX: "LN | |
| Resources: | (Resources, Inf.): 30.65Mt @ 2.54g/t Au | |
| CP/QP: | [Resources]: Daniel Bansah (Minecon Resources and Services Ltd.) | |
| ABSTRACT: | Toronto, Canada – April 17, 2020 – Loncor Resources Inc. ("Loncor" or the "Company") (TSX: "LN"; OTCQB: "LONCF") is pleased to announce a 49% increase in mineral resources at its Imbo Project (Loncor 76.29%) in the D.R. Congo. Compared to the inferred mineral resources of 1.675 million ounces of gold (20.78 million tonnes grading 2.5 g/t Au) outlined in January 2014 by independent consultants Roscoe Postle Associates Inc. (“RPA”) on three separate deposits, Adumbi, Kitenge and Manzako at Imbo, inferred mineral resources have now increased by 49% to 2.5 million ounces of gold (30.65 million tonnes grading 2.54 g/t Au), this increase coming from the Adumbi deposit. This assessment was undertaken by the Company’s independent geological consultants Minecon Resources and Services Limited (“Minecon”). The updated estimate for Adumbi was based on a review of the Adumbi deposit including remodelling, grade capping and considering the CIM requirement for mineral resources to have “reasonable prospects for economic extraction”. 76.29% of this updated gold resource is attributable to Loncor via its 76.29% interest in the Imbo Project. | |
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