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     196  0 Kommentare Loncor Announces Expected Filing Date of NI 43-101 Technical Report on Imbo Project Mineral Resources

    TORONTO, May 29, 2020 (GLOBE NEWSWIRE) -- Loncor Resources Inc. ("Loncor" or the "Company") (TSX: "LN"; OTCQB: "LONCF") announces that it expects to file by June 10, 2020 the independent National Instrument 43-101 technical report (“NI 43-101 Report”) relating to the mineral resource estimates on the Company’s Imbo Project reported in the Company’s April 17, 2020 press release (required by paragraph 4.2(1)(j) of National Instrument 43-101).  In filing the NI 43-101 Report by June 10, 2020, the Company is relying on the decision of Canadian securities regulators, including the Ontario Securities Commission, which provides a temporary exemption to reporting issuers such as Loncor in connection with the filing of certain continuous disclosure and other documents due during the period from March 23, 2020 to June 1, 2020.  This exemption is a response by Canadian securities regulators to the COVID-19 situation which has significantly impacted businesses worldwide.

    There have been no material Company business developments since the filing on May 15, 2020 of the Company’s interim financial statements for the quarter ended Mach 31, 2020.  Until the NI 43-101 Report has been filed, Company management and other insiders are subject to an insider trading black-out policy that reflects the principles in section 9 of National Policy 11-207. 

    About Loncor Resources Inc.
    Loncor is a Canadian gold exploration company focussed on the Ngayu Greenstone Belt in the Democratic Republic of the Congo (the “DRC”).  The Loncor team has over two decades of experience of operating in the DRC.  Ngayu has numerous positive indicators based on the geology, artisanal activity, encouraging drill results and an existing gold resource base.  The area is 200 kilometres southwest of the Kibali gold mine, which is operated by Barrick Gold (Congo) SARL (“Barrick”).  In 2019, Kibali produced record gold production of 814,000 ounces at “all-in sustaining costs” of US$693/oz.  Barrick has highlighted the Ngayu Greenstone Belt as an area of particular exploration interest and is moving towards earning 65% of any discovery in 1,894 km2 of Loncor ground that they are exploring.  As per the joint venture agreement signed in January 2016, Barrick manages and funds exploration on the said ground at the Ngayu project until the completion of a pre-feasibility study on any gold discovery meeting the investment criteria of Barrick.  In a recent announcement Barrick highlighted six prospective drill targets and are moving towards confirmation drilling in 2020. Subject to the DRC’s free carried interest requirements, Barrick would earn 65% of any discovery with Loncor holding the balance of 35%.  Loncor will be required, from that point forward, to fund its pro-rata share in respect of the discovery in order to maintain its 35% interest or be diluted.

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    Loncor Announces Expected Filing Date of NI 43-101 Technical Report on Imbo Project Mineral Resources TORONTO, May 29, 2020 (GLOBE NEWSWIRE) - Loncor Resources Inc. ("Loncor" or the "Company") (TSX: "LN"; OTCQB: "LONCF") announces that it expects to file by June 10, 2020 the independent National Instrument 43-101 technical report (“NI 43-101 …

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