TORONTO, Jan. 27, 2025 /CNW/ - Loncor
Gold Inc. ("Loncor" or the "Company") (TSX: LN)
(OTCQX: LONCF) (FSE: LO5) reports that operations
and logistics for the Company's Adumbi gold exploration project
remain unaffected by the recent developments in the city of Goma,
which is about 746 kilometres southeast from Adumbi. Two
drill rigs continue to drill the Adumbi deposit with the aim of
furthering the resource towards the Company's 5M oz target.
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 84.68% of these resources being
attributable to Loncor. Following a drilling program carried
out by the Company at the Adumbi deposit in 2020 and 2021, the
Company completed a Preliminary Economic Assessment ("PEA") of the
Adumbi deposit and announced the results of the PEA in December
2021.
Additional information with respect to Loncor and its projects
can be found on Loncor's website at www.loncor.com.
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.
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 ongoing drilling program at Adumbi,
mineral resource estimates, mineral resource increases, potential
mineralization, and 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 drilling programs will be delayed or adversely
affected by the unrest in the city of Goma, 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, 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 April 1, 2024 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.
SOURCE Loncor Gold Inc.
