Loncor Gold Unveils Promising Deep Drill Results at Adumbi

The latest announcement is out from Loncor Gold ( (TSE:LN) ).

Loncor Gold Inc. announced the final drill assay results from its deepest borehole, LADD029, at the Adumbi deposit, revealing significant gold intersections that indicate potential for substantial underground resources. The results, reported on May 6, 2025, highlight three main gold zones with a cumulative intersected width of 65.53 meters grading 3.09 g/t gold, demonstrating the mineral resource potential below the existing 3.66 million ounces of the Adumbi open pit. The findings suggest that the mineralized banded ironstone formation continues to increase in thickness with depth, supporting ongoing drilling efforts aimed at delineating further underground resources.

Spark’s Take on TSE:LN Stock

According to Spark, TipRanks’ AI Analyst, TSE:LN is a Underperform.

Loncor Gold’s stock score is primarily impacted by its financial instability, characterized by no revenue, rising losses, and negative cash flows. While technical analysis shows some potential for positive momentum, the company’s valuation remains poor with a negative P/E ratio. Notable corporate events highlight future growth potential but do not offset current financial challenges.

To see Spark’s full report on TSE:LN stock, click here.

More about Loncor Gold

Loncor Gold Inc. is a Canadian gold exploration company focused on the Ngayu Greenstone Gold Belt in the northeast of the Democratic Republic of the Congo. The company has a significant resource base in the Ngayu Belt, particularly at the Imbo Project, where the Adumbi deposit holds an indicated mineral resource of 1.88 million ounces of gold and an inferred mineral resource of 2.09 million ounces of gold. Loncor has been operating in the DRC for over two decades.

Average Trading Volume: 131,200

Technical Sentiment Signal: Buy

Current Market Cap: C$88.13M

See more data about LN stock on TipRanks’ Stock Analysis page.