Ngayu Project
Dr. Howard Fall and Chief Geologist Mark Hannam inspecting Makapela workings
Loncor Resources Inc has an option agreement with Rio Tinto Exploration RDC Orientale SPRL for the exclusive gold rights at Ngayu covering 14 PR's (4,550 square kilometres).
The Ngayu Greenstone Belt has a length of approximately 80 kilometres and a width of 40 kilometres and bears geological similarities to the Geita Archaean greenstone belt of Tanzania. In terms of size, the Ngayu belt is approximately three to four times the size of Geita, where the gold deposits which currently total 17 million ounces are found within banded ironstone formations ("BIF") or in close proximity to the BIF in other host lithologies. Similarly, the Ngayu project has well developed BIFs with a total potential prospective strike length of 130 km.
A number of gold occurrences are found within the Ngayu greenstone belt, including at the Company's leading prospect, Makapela (more information on Makapela is available in the Map section of this page, below) and at Yindi. Yindi was the site of historical hard rock gold production from 1931-43. An historical, non-compliant NI 43-101 reserve/resource of 518,000 ounces of gold (7.0 million tonnes grading 2.3 grams per tonne)* was documented for the project area.
Yindi is accessible by road.
*Historic resource estimate is based on historical reports up to 1988 from the Royal Museum for Central Africa Tervuren, Belgium. It is presented for information purposes only. The historic estimate is based on an extrapolation of known, unexploited mineralization near surface down to a maximum depth of 100 metres. The detailed methodology used to derive the resource is unknown to the Company. It is not to be relied upon and it is non-compliant with NI 43-101. Work required to verify and classify the historical estimate as current resources in accordance NI 43-101 has not been carried out by the Company and the Company is not treating the historical estimate as current mineral resources as defined in NI 43-1010. Furthermore, the Company does not make any representations or warranties on the accuracy of the historical resource estimate.
2010 Exploration Program
An exploration camp was established at Yindi in February 2010 with field work commencing in early March. A total of nine geologists are now active at the project site. A two drill diamond drilling program began at the Yindi prospect in September. In October 2010, drilling also began at the Makapela prospect following a program of gridding and soil and adit sampling.
