Loncor Gold Unveils Significant Drill Results at Adumbi

Loncor Gold ( (TSE:LN) ) has provided an announcement.

Loncor Gold Inc. announced the final drill assay results from its deepest borehole, LADD029, at the Adumbi deposit on May 6, 2025. The results revealed significant gold mineralization, including intersected widths of 22.31 meters grading 3.05 g/t gold and 28.72 meters grading 2.55 g/t gold. These findings highlight the potential for significant underground resources below the existing 3.66 million ounces of open-pit resources. The results also indicate the thickest banded ironstone formation drilled at Adumbi, suggesting increasing mineralization with depth. This development could enhance Loncor’s industry positioning by expanding its resource base and attracting further investment.

The most recent analyst rating on (TSE:LN) stock is a Buy with a C$1.57 price target. To see the full list of analyst forecasts on Loncor Gold stock, see the TSE:LN Stock Forecast page.

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 is primarily involved in exploring and developing gold resources, with a significant focus on the Imbo Project, which includes the Adumbi deposit. Loncor has a growing resource base in the Ngayu Belt and has completed a Preliminary Economic Assessment of the Adumbi deposit.

Average Trading Volume: 211,589

Technical Sentiment Signal: Buy

Current Market Cap: C$106.7M

For an in-depth examination of LN stock, go to TipRanks’ Stock Analysis page.