08:37 AM EDT, 08/13/2024 (MT Newswires) -- Loncor Gold ( LONCF ) said Tuesday that it will resume drilling of over 11,000 meters on its flagship Adumbi gold project in the Democratic Republic of Congo.

The company said it will also conduct drilling at four prospects within the Imbo exploitation license where it has a 85% attributable interest.

"The imminent drilling below Adumbi's 3.66 million ounce "in pit" resource has the potential to push the high-grade deposit aggressively towards Tier 1 status," CEO John Barker said. "The drilling has been made possible by the cash raised by the $13.5 million asset sale announced in December 2023, without recourse to equity holders."

Adumbi is located 220 kilometers from Barrick Gold ( GOLD ) and AngloGold Ashanti's Kibali gold mine.