Loncor Gold (LN.V) has confirmed drilling has started on its flagship Adumbi gold project in the DRC. As mentioned before, drilling will focus on the gold mineralization located directly below the open pit, and the planned 11,000 meters of drilling will be important to add some of the lower hanging fruit zones to the existing resource estimate which currently contains approximately 3.65 million ounces of gold of which 1.88 million ounces are located in the indicated resource category and 1.78 million ounces are part of the inferred resource category.
Additionally, Loncor Gold is still working on a regional exploration program and a man-portable core rig has started drilling on the first of the four exploration targets which are located on the same major structural shear as the Adumbi flagship resource. The company has designed an initial 12 hole drill program for a total of 2,400 meters of drilling. As of last week, the company was almost halfway that drill program after completing five holes for a total of 1,124 meters, and Loncor Gold already received preliminary assay results from two high-grade sections in hole LIDD003 on the Museveni prospect.
The company’s field team observed visible gold in the core, and this was backed up by the assay results which highlighted 1.18 meters of 69.7 g/t gold and 0.85 meters containing 22.9 g/t gold. The true widths are estimated to be approximately 60% of the intersected widths. Assay results from the scout drill program will likely continue to trickle in while assay results from the Adumbi below-pit drill program will take longer as those holes are deeper.
Disclosure: The author has a long position in Loncor Gold. Loncor is a sponsor of the website. Please read the disclaimer.
