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TSX:LN OTCQX:LONCF

Loncor Resources Inc

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Market:
TSX
Market Cap:
$71.82 m
Price
0.64 CAD
Change
3.23%
52 weeks high
0.89
52 weeks low
0.32

In brief

Loncor Resources is a gold exploration company focused on projects in the vast Ngayu Belt, NE of the DRC. The company is looking to increase its +3M oz high grade mainly open pit gold resource centered on Adumbi through a fully funded drill program, followed by a potential scoping study in 2021. Loncor is also actively exploring numerous early stage targets, with a focus along trend from Adumbi. Additionally, Barrick Gold fully funds up to feasibility a Joint Venture with Loncor over +/-2 000km2 of Loncor’s Ngayu ground. Barrick commenced drilling in June 2020 on target areas that they state host Tier 1 potential, 220kms away from the highly successful Kibali Gold mine that Barrick operates.

Snapshot

Loncor’s flagship project, Imbo, sits on the eastern portion of the Ngayu belt and contains numerous targets including three resource-bearing gold deposits