We received from Loncor Gold Inc. and we are glad to publish the following press release:
“Toronto, Canada – August 6, 2025 – Loncor Gold Inc. (“Loncor” or the “Company”) (TSX: LN”; OTCQX: “LONCF”; FSE: “LO5”) 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 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.”
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