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BREAKING NEWS...

Garibaldi drills 8.5 m of 10.4 g/t Au at La Patilla

  • First-ever diamond drilling at the La Patilla gold property in Sinaloa state has returned highly encouraging gold values near-surface, including an interval grading 10.4 grams per tonne gold over 8.5
  • Five of six holes drilled to test the La Patilla vein system intersected broad zones of mineralization along 75 metres of strike length to depths of approximately 50 metres

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Message: AGORACOM Small Cap TV - January 26th - Highlights

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AGORACOM Small Cap TV - January 26th - Highlights

posted on Jan 26, 12 08:00AM

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").

Highlights

- 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.

Hole

Northing
UTM

Easting
UTM

Azimuth

Inclination

Mineralization*

From
(m)

To
(m)

Width
(m)

True
Width (m)

Au(g/t)

NIDD001

207916

554185

180°

-50°

12.57

16.94

4.37

4.27

0.60

25.48

31.50

6.02

5.89

0.59

52.28

91.10

38.82

37.97

2.66

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.


Last Trade: 1.499 52 Week: 3.8172 – 1.20 Market Cap; 87.25 Million



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