Loncor Gold Reports Increase in Rigs at Its Deep Drilling Program at Adumbi
Loncor Gold (OTCQX: LONCF) has announced the addition of a new core rig at its Adumbi deposit to accelerate its deep drilling program. The deposit currently holds 3.66 million ounces of gold resources, comprising 1.88 million ounces of indicated resources (28.185 million tonnes at 2.08 g/t Au) and 1.78 million ounces of inferred resources (20.83 million tonnes at 2.65 g/t Au).
The newly mobilized PRD Multi Star rig is track-mounted and capable of coring down to 1,500 metres, with additional reverse circulation drilling capabilities. CEO John Barker cited slower-than-expected drilling progress in 2025 as the reason for adding this third rig from a second drilling company to expedite the approximately 11,000-metre deep drilling program.
Loncor Gold (OTCQX: LONCF) ha annunciato l'aggiunta di una nuova trivella core presso il deposito di Adumbi per accelerare il programma di perforazione profonda. Il deposito attualmente contiene 3,66 milioni di once di risorse aurifere, di cui 1,88 milioni di once di risorse indicate (28,185 milioni di tonnellate a 2,08 g/t Au) e 1,78 milioni di once di risorse inferite (20,83 milioni di tonnellate a 2,65 g/t Au).
La nuova trivella PRD Multi Star, montata su cingoli, è in grado di effettuare carotaggi fino a 1.500 metri, con capacità aggiuntive di perforazione a circolazione inversa. Il CEO John Barker ha citato un progresso nella perforazione più lento del previsto nel 2025 come motivo per aggiungere questa terza trivella da una seconda società di perforazione, al fine di accelerare il programma di perforazione profonda di circa 11.000 metri.
Loncor Gold (OTCQX: LONCF) ha anunciado la incorporación de una nueva plataforma de perforación core en su depósito Adumbi para acelerar su programa de perforación profunda. El depósito actualmente contiene 3,66 millones de onzas de recursos de oro, que incluyen 1,88 millones de onzas de recursos indicados (28,185 millones de toneladas a 2,08 g/t Au) y 1,78 millones de onzas de recursos inferidos (20,83 millones de toneladas a 2,65 g/t Au).
La nueva plataforma PRD Multi Star, montada sobre orugas, puede realizar perforaciones core hasta 1.500 metros, con capacidades adicionales de perforación por circulación inversa. El CEO John Barker mencionó que el progreso de perforación más lento de lo esperado en 2025 fue la razón para añadir esta tercera plataforma de una segunda compañía de perforación, con el fin de acelerar el programa de perforación profunda de aproximadamente 11.000 metros.
Loncor Gold (OTCQX: LONCF)는 깊은 시추 프로그램을 가속화하기 위해 Adumbi 광산에 새로운 코어 시추 장비를 추가했다고 발표했습니다. 이 광산은 현재 366만 온스의 금 자원을 보유하고 있으며, 이 중 188만 온스는 확인 자원(2818.5만 톤, 2.08 g/t Au)이고, 178만 온스는 추정 자원(2083만 톤, 2.65 g/t Au)입니다.
새로 투입된 PRD Multi Star 장비는 궤도식으로 최대 1,500미터까지 코어 시추가 가능하며, 역류 순환 시추 기능도 갖추고 있습니다. CEO John Barker는 2025년 시추 진척이 예상보다 느린 점을 이유로 두 번째 시추 회사에서 세 번째 장비를 추가하여 약 11,000미터 깊이의 시추 프로그램을 신속히 진행하기 위함이라고 밝혔습니다.
Loncor Gold (OTCQX: LONCF) a annoncé l'ajout d'une nouvelle foreuse core sur son gisement d'Adumbi afin d'accélérer son programme de forage profond. Le gisement contient actuellement 3,66 millions d'onces de ressources aurifères, comprenant 1,88 million d'onces de ressources indiquées (28,185 millions de tonnes à 2,08 g/t Au) et 1,78 million d'onces de ressources inférées (20,83 millions de tonnes à 2,65 g/t Au).
La nouvelle foreuse PRD Multi Star, montée sur chenilles, est capable de forer en carottage jusqu'à 1 500 mètres, avec des capacités supplémentaires de forage en circulation inverse. Le PDG John Barker a cité un progrès de forage plus lent que prévu en 2025 comme raison pour l'ajout de cette troisième foreuse provenant d'une seconde entreprise de forage, afin d'accélérer le programme de forage profond d'environ 11 000 mètres.
Loncor Gold (OTCQX: LONCF) hat die Hinzufügung einer neuen Kernbohranlage an seiner Adumbi-Lagerstätte angekündigt, um das Tiefbohrprogramm zu beschleunigen. Die Lagerstätte enthält derzeit 3,66 Millionen Unzen Goldressourcen, bestehend aus 1,88 Millionen Unzen angezeigten Ressourcen (28,185 Millionen Tonnen mit 2,08 g/t Au) und 1,78 Millionen Unzen abgeleiteten Ressourcen (20,83 Millionen Tonnen mit 2,65 g/t Au).
Die neu eingesetzte PRD Multi Star-Bohranlage ist kettenmontiert und kann bis zu 1.500 Meter tief Kernbohrungen durchführen, zusätzlich verfügt sie über Fähigkeiten für Reverse-Circulation-Bohrungen. CEO John Barker nannte den langsamer als erwarteten Bohrfortschritt im Jahr 2025 als Grund für die Hinzunahme dieser dritten Bohranlage von einem zweiten Bohrunternehmen, um das etwa 11.000 Meter tiefe Bohrprogramm zu beschleunigen.
- Addition of a third drilling rig to accelerate the deep drilling program
- Substantial gold resource of 3.66 million ounces already delineated
- New rig has dual capability for both core and reverse circulation drilling up to 1,500 metres
- 2025 drilling progress has not met company expectations
Toronto, Ontario--(Newsfile Corp. - August 6, 2025) - Loncor Gold Inc. (TSX: LN) (OTCQX: LONCF) (FSE: LO5) ("Loncor" or the "Company") is pleased to announce that an additional core rig has arrived at Adumbi to accelerate the deep drilling program at the Company's 3.66 million ounce Adumbi deposit where an indicated mineral resource of 1.88 million ounces of gold (28.185 million tonnes grading 2.08 g/t Au), and an inferred mineral resource of 1.78 million ounces of gold (20.83 million tonnes grading 2.65 g/t Au) have already been delineated within a USD1,600/oz open pit shell. The mobilised drill rig is a multipurpose PRD Multi Star, track mounted rig capable of coring down to 1,500 metres with also the capability for reverse circulation drilling. Thus there is the potential to pilot some of the deep holes by reverse circulation from surface and then core down to the target depth.
Commenting on the additional drill rig at Adumbi. Loncor CEO John Barker said: "A third core rig from a second drilling company has now arrived at Adumbi to accelerate the +/-11,000-metre-deep drilling program. The meterage drilled so far at Adumbi in 2025 has not met our expectations, hence the decision to add a third rig to push the progress during the remainder of this year."
Qualified Person
Peter N. Cowley, who is President of Loncor and a "qualified person" as such term is defined in National Instrument 43-101, has reviewed and approved the technical information in this press release.
Technical Report
Additional information with respect to the Company's Adumbi deposit (and other properties of the Company within its Imbo Project) is contained in the technical report of New SENET (Pty) Ltd and Minecon Resources and Services Limited dated December 15, 2021 and entitled "NI 43-101 Preliminary Economic Assessment of the Adumbi Deposit in the Democratic Republic of the Congo". A copy of the said report can be obtained from SEDAR+ at www.sedarplus.ca and EDGAR at www.sec.gov.
About Loncor Gold Inc.
Loncor is a Canadian gold exploration company focussed on the Ngayu Greenstone Gold Belt in the northeast of the Democratic Republic of the Congo (the "DRC"). The Loncor team has over two decades of experience of operating in the DRC. Loncor's growing resource base in the Ngayu Belt is focused on the Imbo Project where the Adumbi deposit holds an indicated mineral resource of 1.88 million ounces of gold (28.185 million tonnes grading 2.08 g/t gold), and the Adumbi deposit and two neighbouring deposits hold an inferred mineral resource of 2.090 million ounces of gold (22.508 million tonnes grading 2.89 g/t Au), with
Additional information with respect to Loncor and its projects can be found on Loncor's website at www.loncor.com.
Cautionary Note Concerning Forward-Looking Information
This press release contains forward-looking information. All statements, other than statements of historical fact, that address activities, events or developments that the Company believes, expects or anticipates will or may occur in the future (including, without limitation, statements regarding the Company's deep drilling program at Adumbi, underground mineral resource potential below the Adumbi pit shell, mineral resource estimates, potential mineralization, future exploration and development) are forward-looking information. This forward-looking information reflects the current expectations or beliefs of the Company based on information currently available to the Company. Forward-looking information is subject to a number of risks and uncertainties that may cause the actual results of the Company to differ materially from those discussed in the forward-looking information, and even if such actual results are realized or substantially realized, there can be no assurance that they will have the expected consequences to, or effects on the Company. Factors that could cause actual results or events to differ materially from current expectations include, among other things, the possibility that future exploration (including drilling) or development results will not be consistent with the Company's expectations, risks related to the exploration stage of the Company's properties, uncertainties relating to the availability and costs of financing needed in the future, the possibility that drilling programs will be delayed, failure to establish estimated mineral resources (the Company's mineral resource figures are estimates and no assurances can be given that the indicated levels of gold will be produced), changes in world gold markets or equity markets, political developments in the DRC, gold recoveries being less than those indicated by the metallurgical testwork carried out to date (there can be no assurance that gold recoveries in small scale laboratory tests will be duplicated in large tests under on-site conditions or during production), fluctuations in currency exchange rates, inflation, changes to regulations affecting the Company's activities, delays in obtaining or failure to obtain required project approvals, the uncertainties involved in interpreting drilling results and other geological data and the other risks disclosed under the heading "Risk Factors" and elsewhere in the Company's annual information form dated March 31, 2025 filed on SEDAR+ at www.sedarplus.ca and EDGAR at www.sec.gov. Forward-looking information speaks only as of the date on which it is provided and, except as may be required by applicable securities laws, the Company disclaims any intent or obligation to update any forward-looking information, whether as a result of new information, future events or results or otherwise. Although the Company believes that the assumptions inherent in the forward-looking information are reasonable, forward-looking information is not a guarantee of future performance and accordingly undue reliance should not be put on such information due to the inherent uncertainty therein.
For further information, please visit our website at www.loncor.com or contact:
John Barker, CEO, +44 7547 159 521
Arnold Kondrat, Executive Chairman, +1 416 366 7300
Peter Cowley, President, +44 790454 0856
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/261452
FAQ
What is the current gold resource at Loncor Gold's Adumbi deposit?
Why is LONCF adding a new drilling rig at Adumbi?
What are the capabilities of the new drilling rig at LONCF's Adumbi project?
How many drilling rigs does Loncor Gold now have at the Adumbi deposit?
