Loncor Resources Inc. (the "Company" or "Loncor") is pleased to announce the results of Induced Polarisation (IP) surveys at the Company's Nagasa prospect, Ngayu Gold Project, northeastern Democratic Republic of the Congo (the "DRC").
The Company acquired IP equipment in January 2013 with the objectives of: (a) locating potentially mineralized zones in areas covered by transported overburden where soil geochemistry is problematic, such as at Nagasa, and (b) testing for "blind" ore bodies where mineralization does not reach surface.
In terms of the Company's Technical Services Agreement with Newmont Mining Corporation ("Newmont"), two specialised IP survey operators from Newmont visited the Ngayu Project from February 1 to March 15, 2013 in order to carry out the initial survey, and to train the Company's field staff in IP data collection. Field data was forwarded to Accra, Ghana, for processing and interpretation by Newmont's geophysicists.
The initial IP survey was carried out at the Nagasa prospect, one of the priority targets developed from the regional BLEG stream sediment and airborne geophysical surveys and located on the southern limb of a regional structure called the Imva Fold. As described in the Company's press release of June 14, 2012, Nagasa is underlain by a sequence of sericite schists with several bands of steeply-dipping banded ironstone formation (BIF). Strike-parallel faults, probably thrusts, are interpreted, and the lithostructural setting bears many similarities to the Geita gold mine in northern Tanzania. Artisanal workings are common, the miners mainly exploiting auriferous colluvium below a barren cover of transported soil. These workings indicate potential exists for mineralization over a strike of 3 - 4 km
In order to locate the primary source(s) of the gold-bearing colluvium, an initial area of 2 x 2 km was selected for the IP survey. This was firstly covered by Gradient Array IP, using a line spacing of 50 m, and with chargeability and resistivity measurements taken at 25 m intervals along the lines. This was followed by five lines on a 500 m spacing using a Pole-Dipole array, in order to obtain greater depth penetration and provide cross-sectional IP data for drill site selection.
Figure 1 shows the airborne magnetic data (analytical signal) from the Company's October 2012 survey, which was carried out on a 50 m line spacing. The main BIF unit forming the topographic ridge in the north of the area is clearly defined. The magnetic data also indicates the presence of three BIF units to the south of the main ridge, which have been confirmed by mapping and which become progressively thinner in a southerly direction. Strike parallel faults or thrusts are interpreted to occur in the same E-W direction as the strike of these BIF units. Part of BIF unit 3 in the centre of the IP block appears to have undergone partial demagnetization, possibly due to the introduction of mineralizing hydrothermal fluids and the subsequent replacement of magnetite. Figure 1 also shows the IP chargeability anomalies from the Pole-Dipole sections projected vertically to surface. Anomaly 1 is coincident with BIF unit 4. The surface projection of Anomaly 2 lies between BIF units 2 and 3; it trends exactly E-W, and therefore appears to cross-cut the strike of BIFs 2 and 3 at an acute angle. Anomaly 3 is slightly less well-defined than Anomalies 1 and 2 and is associated with BIF unit 1 on the main ridge.
Figure 2 shows the Gradient Array Chargeability map. For Anomaly 1, the highest chargeability in the extreme east correlates very closely with the suboutcrop of BIF unit 4, and appears to be increasing in intensity eastwards off the current grid. The Gradient Array suggests that Anomaly 2 is weakening to the west and east, although the anomaly is still well defined on the eastern and western Pole-Dipole array lines and appears to be extending off the grid in both directions. It is significant that the highest chargeabilities in the Anomaly 2 Gradient Array data are near the southern edge of the anomaly, and are coincident with the area of possible demagnetization.
Gradient Array Resistivity data is shown in Figure 3. In the case of Anomaly 2, there is a well-defined resistivity low coincident with the chargeability high.
Examples of the Pole-Dipole sections are shown Figures 4 - 6. Significantly, these Pole-Dipole sections highlight that anomalies 1 and 2 do not reach surface. Anomaly 2 is considered to be the strongest anomaly and this will be the focus of the first phase of diamond drilling with drill holes planned over a strike of 2 kilometres. In addition, holes will be drilled to test Anomaly 1. Drilling in Phase 2 will focus mainly on Anomaly 3 with holes planned over a strike of 1.5 kilometres. The 12-hole drilling programme totals approximately 5,000 metres and is scheduled to commence on May 3, 2013 with two rigs.
The Nagasa IP anomalies are all open-ended, and Pole-Dipole lines are currently in progress to define their extensions to the east and west. The IP survey team will then move to other lithostructurally promising parts of the Ngayu project area where transported overburden may be masking mineralization, such as at Matete and Anguluku.
"These IP surveys at Nagasa have been very successful in locating strong IP anomalies along the structurally prospective Nagasa prospect trend," commented Loncor's President and CEO, Peter Cowley. "The more prominent anomalies are associated with high chargeability/low to moderate resistivity and demagnetized BIF units indicative of hydrothermal fluid introduction including gold. These surveys also highlight that the higher priority anomalies have significant strike length (each in excess of 2 kilometres) and also do not come to surface. IP surveys are continuing at Nagasa along strike to the west and east and will then be extended to other prospects such as Matete and Anguluku where alluvium and colluvium cover is present."
Dr. Howard Fall, Exploration Manager of Loncor, is the "Qualified Person" (as such term is defined in National Instrument 43-101) who is responsible for the contents of this press release.