The report was updated to account for the increased gold mineral resource estimate for the project, particularly at the Adumbi deposit, one of the three deposits at Imbo with resources.

In the updated technical report, the Imbo Project’s inferred mineral resource increased by 38 per cent to 3.466 million ounces of gold. The Adumbi deposit’s inferred mineral resource also increased by 44 per cent to 3.153 million ounces of gold.

Loncor is currently conducting an ongoing drill program at the Adumbi deposit to outline substantial underground resources below the inferred resource pit shell where higher grades are being intersected.

The Loncor team has over two decades of experience in the DRC, where it operates the Imbo and Makapela Projects.

The mineral resource estimates for the Imbo Project are in addition to the company’s resources at the Makapela Project, where there is an indicated mineral resource of 614,200 ounces of gold.

Loncor holds an 84.68 per cent interest in the Imbo Project, with the same percentage of the mineral resources at the project attributable to the company.

Loncor Gold is a Canadian gold exploration company focused on the Ngayu Greenstone Gold Belt in the northeast DRC.

Loncor Gold Inc. (LC) is up 9.46 per cent on the day, trading at $0.81 per share as of 12:30 pm ET.