TORONTO, ONTARIO -- (Marketwired) -- 04/23/13 -- Loncor Resources Inc. (the "Company" or "Loncor") (TSX VENTURE: LN)(NYSE MKT: LON)(NYSE Amex: LON) 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.
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