With us today is Frank C. Smeenk President & Chief Executive Officer of KWG Resources Inc. Mr. Smeenk discusses recent conversation with Noront Resources after proposed acquisition of Cliffs Chromite was announced.
Good morning to you all. Please find enclosed a summary of the breaking small-cap and micro-cap financial news we highlighted on AGORACOM Small Cap TV this morning. It’s January 26th, 2012, and we’ve found 4 great press releases to report on at the open. Another great day for small-cap and micro-cap financial news. To watch the show live every morning at 9:30 AM, visit our front page.
Loncor Resources Reports on the Discovery Drill Hole at its Itali Prospect, Ngayu Project in the DR Congo
Loncor Resources Inc. (the "Company" or "Loncor") (TSX VENTURE:LN)(NYSE Amex:LON) is pleased to announce the results of its first drill hole at the Itali prospect, Ngayu Gold Project, northeastern Democratic Republic of the Congo (the "DRC").
- Intersection of 38.82 metres (true thickness 37.97 metres) grading 2.66 g/t Au
- Potential for 1 kilometre of mineralized strike based on soil geochemistry and artisanal mining activity
- Oxidation extends to at least 100 metres below the surface, increasing potential for significant volume of oxide material
The drill hole is 161.85 metres in length and inclined at -50 degrees to the south, and was drilled parallel to and immediately below the trench. Core recovery averaged 91% over the mineralized zones.
True Width (m)
Assay results are uncut and at a cut-off of 0.5 g/t Au. Internal dilution of up to 4.5 metres at less than 0.5 g/t has been used for continuity in the reported intersections
Loncor Resources Inc. is a Canadian gold exploration company focused on two key projects in the Democratic Republic of the Congo ("DRC") - the Ngayu and North Kivu projects. The Company has exclusive gold rights to an area covering 4,550 km2 that covers most of the Ngayu Archaean greenstone belt in Orientale province in the northeast portion of the DRC. Loncor also owns or controls 54 exploration permits in North Kivu province, covering 17,760 square kilometres, located west of the city of Butembo.
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