Results
also include best drill hole to date at the Yindi
Gold Prospect, including 18.98 metres grading
3.66 g/t Au
Toronto,
Canada � January 6, 2011 - Loncor Resources Inc. (the "Company" or
"Loncor")
(TSX-V:
"LN") is pleased to announce results for a
further three drill holes at the Company�s Makapela
prospect, and one additional drill hole at its Yindi
prospect, Ngayu Gold Project, northeastern
Democratic Republic of the Congo (the "DRC").
Exploration at Makapela is focusing on a quartz vein system being
exploited by artisanal miners in three large pits (Main, North and Sele Sele) which are each
between 170 metres and 290 metres
in length, located along a strike of 2.2 kilometres.
Soil geochemical results indicate that the mineralization continues between
these three artisanal workings under a thick soil cover. The smaller
Bamako pit is located on a separate soil anomaly to the south with a strike
of 1.5 kilometres; the Company believes that the
Bamako pit is probably exploiting the same vein system which has been
displaced by faulting.
The principal, subvertical quartz vein is 3 to 6 metres
in true thickness and is located at the contact between basic lavas and a
sequence of tuffs and lavas which appear to be more intermediate in
composition. Thin units of banded iron formation locally occur
immediately above or below the quartz vein. It is possible that the
vein represents a remobilized, metamorphosed siliceous exhalite
unit..
Five drill holes
have been completed at Makapela and all holes
intersected the quartz vein at vertical depths of between 26 metres and 77 metres below
surface. The holes were inclined at between minus 50 degrees and
minus 77 degrees, and averaged 123 metres in
depth with a maximum downhole depth of 173 metres. Core recovery averaged 92% within the
mineralized vein.
Results for the
first two holes at Makapela were reported in the
Company�s press release of December 21, 2010..
Standard fire assay results for all five holes are shown in the table
below. The high grade intersection in NMDD005 (7.19 metres
grading 64.0 g/t Au) contained significant amounts of visible gold, and the
samples from this intersection were therefore re-run using the screen fire
assay technique to reduce possible nugget effects due to coarse gold.
The screen fire assays show a very good correlation with the standard fire
assay results, averaging 7.19 metres grading 62.90
g/t Au.
Hole
|
Location
|
Northing
UTM
|
Easting
UTM
|
Azimuth
|
Inclination
|
Mineralization
|
From
(m)
|
To (m)
|
Width
(m)
|
True
Width (m)
|
(g/t)
Au**
|
NMDD001*
|
Main
Pit
|
217739
|
551895
|
110 �
|
-50 �
|
105.70
|
109.78
|
4.08
|
3.10
|
15.2
|
NMDD002*
|
North
Pit
|
218190
|
552067
|
110 �
|
-50 �
|
60.14
|
66.90
|
6.76
|
4.30
|
7.01
|
NMDD003
|
Sele Sele Pit
|
219730
|
552451
|
110 �
|
-60 �
|
30.37
|
41.23
|
10.86
|
5.90
|
5.14
|
NMDD004
|
Sele Sele Pit
|
219730
|
552451
|
110 �
|
-77 �
|
58.67
|
81.10
|
22.43
|
5.00
|
2.88
|
NMDD005
|
North
pit
|
218190
|
552067
|
110 �
|
-67 �
|
84.25
|
91.44
|
7.19
|
4.30
|
64.0
|
Previously
reported
**Assay results reported are uncut
A locality plan
of the Makapela prospect area with the drill
holes referenced in this press release can be viewed on the Company's web
site at:
At Yindi, where the Company is investigating gold
mineralization hosted by sulphidized and
quartz-veined banded iron formation (BIF) and schistose metasediments
and tuffs, the following assay results were received for drill hole
NYDD008:
Hole
|
Location
|
Northing
UTM
|
Easting
UTM
|
Azimuth
|
Inclination
|
Mineralization
|
From
(m)
|
To (m)
|
Width
(m)
|
True
Width (m)
|
(g/t)
Au*
|
NYDD008
|
Yindi Main
Zone
|
174463
|
574053
|
050 �
|
-50 �
|
67.15
|
79.00
|
11.85
|
10.26
|
1.54
|
108.02
|
127.00
|
18.98
|
16.45
|
3.66
|
*Assay results
reported are uncut
Commenting on the
latest drilling results from Ngayu, Peter Cowley,
President and C.E.O. of the Company, said: "The drilling results at Makapela continue to be encouraging with the final hole
of last year intersecting "bonanza grades". These drilling results,
together with the surface channel samples and a 3.0 kilometre
soil geochemical anomaly linking the four currently known artisanal sites,
indicate the potential for a sizeable mineral resource at Makapela. The goal of our drilling campaign at Makapela for 2011 is to demonstrate continuity along
strike and at depth and to begin delineating the mineral resource.
"We are also
pleased with the latest drill hole at our Yindi
prospect, which is the best hole drilled to date there in terms of width
and grade"
Drill cores for
assaying were taken at a maximum of one metre
intervals and were cut with a diamond saw with one-half of the core placed
in sealed bags by Company geologists and sent to the SGS Laboratory (which
is independent of the Company) in Mwanza, Tanzania..
The core samples were then crushed down to minus 2 mm, and split with one
half of the sample pulverized down to 90% passing 75 microns. Gold
analyses were carried out on 50 g aliquots by fire assay. The samples from
NMDD005 were also analyzed by the screen fire assay method, with 300 g to
500 g of pulverized powder sieved at 75 microns, and separate fire assays
carried out on the oversize and undersize fractions. The gold values are
uncut. Internationally recognized standards and blanks were inserted
as part of the Company's internal QA/QC analytical procedures.
Qualified Person
The exploration results disclosed in this press release have been reviewed,
verified (including sampling, analytical and test data) and compiled
by the Company's geological staff based in Beni,
DRC, under the supervision of Dr. Howard Fall (Aus.I.M.M),
the Company's Exploration Manager and a "qualified person" (as
such term is defined in National Instrument 43-101).
Loncor is a gold exploration company with two
projects in the DRC: the Ngayu and North Kivu
projects. Additional information with respect to the Company's projects can
be found on the Company's web site at www.loncor.com.
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 drilling and other
exploration results, potential mineral resources, potential mineralization
and the Company's exploration plans) 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, risks related to the exploration stage of the Company's properties,
the possibility that future exploration results will not be consistent with
the Company's expectations, changes in world gold markets and equity
markets, political developments in the DRC, uncertainties relating to the
availability and costs of financing needed in the future, the uncertainties
involved in interpreting exploration results and other geological data and
the other risks involved in the mineral exploration business.
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.
Neither TSX
Venture Exchange nor its Regulation Services Provider (as that term is
defined in the policies of the TSX Venture Exchange) accepts responsibility
for the adequacy or accuracy of this release.
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