Adyton Resources (TSX-V:ADY, OTCQB:ADYRF) Corporation has announced the discovery of new and extensional exploration targets at both its Gameta and Wapolu deposits on Fergusson Island in Papua New Guinea.
The company said the exploration targets are expected to build on the existing resource ounces identified on Fergusson Island, confirming the growth potential of both deposits.
“Whilst we await the resource update for the Gameta deposit, which is due this month, management continues to assess the growth potential of the Fergusson Island project and has commenced designing the next phase of drilling to be undertaken,” Adyton Resources CEO Frank Terranova said in a statement.
READ: Adyton Resources reveals initial high-grade gold results from its Wapolu deposit in Papua New Guinea
“The potential to grow this asset into a multi-million-ounce resource, given its starting position of circa 500,000 ounces is compelling in light of the recently completed drill programs,” Terranova added.
Adyton noted the area to the immediate west of Wapolu (Laimomo) has previously been identified as hosting anomalous gold at surface, and the high-grade stream sediment samples will be followed up as a priority.
It added that follow-up drilling is currently being planned and is expected to resume during 2021 to extend the existing resources on Fergusson Island.
The company also said its Oredi Creek deposit on Fergusson Island, which is “highly prospective for high-grade epithermal bonanza style-gold mineralization with associated widespread epithermal alteration,” will be included in the next phase of its work program.
Adyton Resources is focused on the development of gold and copper resources with its portfolio of highly prospective mineral exploration projects in Papua New Guinea. The Brisbane, Australia-based company’s projects are located on the Pacific Ring of Fire, which hosts several world-class copper and gold deposits.
Contact Sean at sean@proactiveinvestors.com