Loncor Gold Strikes Deeper Paydirt at Adumbi: New Drilling Results Fuel Underground Potential

Key Highlights:

• Deepest borehole LADD029 reveals multiple high-grade gold intersections
• Significant underground potential emerging below the 3.66M oz open-pit resource
• Stock trades at CAD 0.62 with a 52-week range of CAD 0.3280 - 0.7000

Loncor Gold Inc. (TSX: LN) (OTCQX: LONCF) has cracked open a deeper layer of promise at its flagship Adumbi deposit, unearthing new evidence that its resource potential extends far below the surface. On April 25, the Toronto-based explorer announced drilling results from borehole LADD029, the deepest ever at Adumbi, offering a thrilling glimpse into the underground riches of this Democratic Republic of Congo asset.

The numbers tell a compelling story: 22.31 metres grading 3.05 grams per tonne (g/t) of gold, including a richer 4.64-metre section at 5.83 g/t; 14.50 metres at 4.24 g/t, with 10.17 metres at 5.23 g/t; and 15.57 metres at 3.35 g/t. These intersections are significant not just for their grade but also for their consistency over a true mineralized width of nearly 146 metres.

"LADD029 is one of the most significant boreholes drilled at Adumbi," said Loncor President Peter Cowley. "It indicates substantial underground resource potential below our already impressive 3.66 million-ounce open pit."

What's particularly notable is the thickening of the mineralized banded ironstone formation (BIF) to a true thickness of 148 metres, signaling that Adumbi's gold-rich host rock grows even more robust at depth. Mineralization now reaches as deep as 805 metres below Adumbi Hill, hinting at a future beyond open-pit mining.

Despite this positive technical momentum, Loncor's share price dipped 4.62% to CAD 0.62 in midday trading, reflecting broader caution in the junior mining sector. Still, with a market cap near CAD 96 million and a one-year target price estimated at CAD 1.57, the gap between potential and valuation could attract savvy investors.

Loncor's focus on quality control and third-party lab verification ensures that these findings carry weight. As the market digests the significance of these results, Loncor seems poised to redefine Adumbi not just as an open-pit story, but as a long-life, high-margin underground opportunity as well.

With its drill bit slicing deeper into the Ngayu Greenstone Belt, Loncor is steadily chiseling out a golden future—layer by layer.