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Makapela Prospect

Exploration at Makapela is focusing on a quartz vein system within a sequence of basalts, thin units of banded iron formation, and dolerite sills. Porphyry dykes and sills of quartz-diorite to tonalitic composition are also present. The veins, or reefs, are being exploited by artisanal miners in three large pits (Main, North and Sele Sele) which are each between 170 m and 290 m in length, located along a strike of 2.2 km. The soil geochemical results indicate that the mineralization continues between these three artisanal workings under a thick soil cover.

"A Mineral Resource Estimate was completed for Loncor's Makapela Project in April 2012 - 4.1 million tonnes grading 7.59 g/t Au containing 1 million ounces of gold. Please click here for the "Updated NI 43-101 Independent Technical Report on the Ngayu Gold Project, Effective Date: 29 May 2012".

Makapela soil sampling results

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Diamond drilling commenced at Makapela in November 2010, and is ongoing. A total of 60 drill holes had been completed by February 2012 totaling 14,900 metres. Drilling is being undertaken on a 80x80 metre and 160x80 metre grid drilling pattern down to a vertical depth of 400 metres below surface. It is proposed to announce an initial inferred mineral resource during the second quarter of 2012.

Drilling has been focused on the following two areas at Makapela:

Main and North Pit

Two main veins have been identified in this area. Reef 1 has been intersected on the Main pit trend over a potential strike length of 480 metres down to a maximum vertical depth of 435 metres (open at depth and along strike).

Two main reefs at Makapela

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The average true width of Reef 1 intersected in the 15 holes drilled is 1.80 metres with an average grade of 11.88 g/t Au. Reef 1 tends to have a glassy, white massive texture and pyrite is much less common than in Reef 2. The vein is hosted by basalt and dolerite, crosscuts the lithologic strike and is possibly a splay off Reef 2.

Reef 2 has been intersected on the North pit trend over a strike length of 800 metres, the most significant grades occurring in the northern section over a potential strike length of 480 metres. In this northern area, which has so far been drilled by 18 holes to a maximum vertical depth of 312 metres, the mineralization has an average true width of 3.51 metres with an average grade of 11.17 g/t Au. Reef 2 has a smokey grey, brecciated texture with common disseminations and stringers of pyrite and local pyrrhotite. The vein appears to have followed a shear zone within and on the margins of a 2 - 4 metre thick unit of banded iron formation, and is parallel to the lithological strike.

Mineralized intersections are summarized below.

Two main reefs at Makapela

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Sele Sele

Approximately 2,000 metres to the north of the North pit, the probable continuation of Reef 2 at the Sele Sele pit has been intersected by diamond drilling over a potential strike length of 480 metres.

Geology of the Sele Sele area

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The mineralization is generally wider, but lower grade than on the Main-North pit trend. The best intersection drilled is 15.68 true thickness metres grading 5.35 g/t Au.

Mineralized intersections for the Sele Sele area

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Potential new veins and vein extensions have been identified by Loncor's soil, auger and rock-chip sampling programs, and drill testing of these targets is continuing.