Loncor Gold Advances with Strong Adumbi Drilling

Loncor Gold Inc. (TSX: LN) has reported encouraging results from its ongoing deep drilling program at the high-grade Adumbi deposit in the Democratic Republic of Congo. The latest assays from hole LADD030 revealed multiple significant gold intersections, including 11.43 metres grading 1.77 g/t gold, 6.61 metres at 4.56 g/t gold (with 5.61 metres at 5.24 g/t), and 7.73 metres at 2.26 g/t. These findings, located approximately 100 metres below the current USD1,600/oz open pit shell at depths over 640 metres, highlight substantial underground potential beyond the existing indicated resource of 1.88 million ounces.

The news has positively influenced Loncor's share price, which stood at $1.33 as of early February 2026, reflecting a modest weekly uptick of 0.76% and an impressive one-year gain exceeding 133%. Trading activity appears stable with low volatility (0.69) and a beta of 0.50, indicating resilience amid broader market fluctuations. Positive momentum scores (63.56/100) and growth factors (54.95/100) underscore investor interest, while recent price action shows a 3.94% daily rise and over 150% annual performance in some listings.

Market sentiment leans bullish, supported by consistent Buy ratings from analysts like Fundamental Research Corp, with the latest maintenance in July 2025 and a consensus price target of C$1.70, implying over 30% upside from recent levels. AI-generated trading signals rate LN as Strong across near, mid, and long-term horizons, with buy recommendations near $1.08. Media coverage highlights modest price gains tied directly to these drilling successes, reinforcing optimism around resource expansion at Adumbi, which boasts an inferred resource of 1.78 million ounces at 2.65 g/t.

In the past few months, broader events like sustained high gold prices—buoyed by global policy easing, geopolitical tensions, and safe-haven demand—have provided tailwinds for juniors like Loncor. Gold's technical outlook remains constructive despite short-term pullbacks, with key supports above $2,500/oz. Additionally, Loncor's experienced DRC operations and strategic positioning in the Ngayu Greenstone Belt insulate it somewhat from sector volatility, though no major company-specific website updates beyond drilling were noted recently.