Loncor Resources changes its name to Loncor Gold to reflect its primary exploration ambitions

Loncor Resources Inc (TSE:LN) (OTCQX:LONCF) (FRA:LO51) is changing its name to Loncor Gold Inc, the company announced, to better brand itself as a gold exploration company. 

Loncor expects its shares to begin trading on the Toronto Stock Exchange under the new name on Thursday, June 10. Its ticker symbol will remain LN.

The company’s gold operations are focused on the Ngayu Greenstone Gold Belt in the northeast of the Democratic Republic of the Congo. 

READ: Loncor says hole drilled at its Adumbi deposit intersects significant widths and grades in gold zones

“The company continues to develop its flagship open-pit Adumbi gold deposit,” CEO Arnold Kondrat said in a statement. “More than 3,450,000 inferred ounces of gold have been identified to date on the Imbo licence. Our current drill program, which has had tremendous success in adding to the gold resource at Adumbi, demonstrates Adumbi continues at depth with higher grades and widths. 

“We believe Adumbi has the potential to continue to grow significantly from the ongoing drill program, into a Tier 1 deposit. In addition, discussions are underway on how best to mix the company’s high-grade Makapela deposit located 50 km away into any future mine plan at Adumbi.”

Contact Andrew Kessel at [email protected]

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Story by ProactiveInvestors