Loncor Announces Election of Directors
posted on
Jul 20, 2022 08:19AM
Adumbi Gold Deposit: Second Largest Gold Deposit In DRC, USD $1.3 Billion after tax valuation at a price of $ 2,000/oz gold
Loncor Gold Inc. ("Loncor" or the "Company") (TSX: LN) (OTCQX: LONCF) (FSE: LO51) announces that the five nominees listed in the Company's management information circular for the annual meeting of shareholders of the Company (the "Meeting") held on Tuesday, July 19, 2022 were elected at the Meeting as directors of Loncor. The vote was conducted by a show of hands. The detailed results of the vote are set out below:
Name |
Votes For |
% Votes For |
Votes Withheld |
% Votes Withheld |
Zhengquan (Philip) Chen |
73,147,177 |
99.99 % |
7,500 |
0.01 % |
Peter N. Cowley |
73,147,177 |
99.99 % |
7,500 |
0.01 % |
Arnold T. Kondrat |
70,944,477 |
96.98 % |
2,210,000 |
3.02 % |
Richard J. Lachcik |
73,147,177 |
99.99 % |
7,500 |
0.01 % |
William R. Wilson |
70,944,477 |
96.98 % |
2,210,000 |
3.02 % |
Voting results on all matters voted on at the Meeting have been filed on SEDAR at www.sedar.com.
Loncor is a Canadian gold exploration company focussed on the Ngayu Greenstone Gold Belt in the northeast of the Democratic Republic of the Congo (the "DRC"). The Loncor team has over two decades of experience of operating in the DRC. Loncor's growing resource base in the Ngayu Belt currently comprises the Imbo and Makapela Projects. At the Imbo Project, the Adumbi deposit holds an indicated mineral resource of 1.88 million ounces of gold (28.185 million tonnes grading 2.08 g/t gold), and the Adumbi deposit and two neighbouring deposits hold an inferred mineral resource of 2.090 million ounces of gold (22.508 million tonnes grading 2.89 g/t Au), with 84.68% of these resources being attributable to Loncor. Following a drilling program carried out by the Company at the Adumbi deposit in 2020 and 2021, the Company completed a Preliminary Economic Assessment ("PEA") of the Adumbi deposit and announced the results of the PEA in December 2021. The Makapela Project (which is 100%-owned by Loncor and is located approximately 50 kilometres from the Imbo Project) has an indicated mineral resource of 614,200 ounces of gold (2.20 million tonnes grading 8.66 g/t Au) and an inferred mineral resource of 549,600 ounces of gold (3.22 million tonnes grading 5.30 g/t Au).
Additional information with respect to Loncor and its projects can be found on Loncor's website at www.loncor.com