Adyton Resources (TSX-V:ADY, OTCQB:ADYRF) Corporation (TSX-V:ADY, OTCQB:ADYRF) has said its 1,982-meter maiden drilling program of five diamond holes at its wholly owned Feni Island Copper Gold project in Papua New Guinea returned significant gold intersections.
The Brisbane, Australia-based company noted that all five holes intersected zones of gold, with three holes returning significant intersections.
In Hole ADK001, the company intersected gold from surface at 144.80 metres (m) (1.0m-145.8m) at 0.8 grams per tonne (g/t) gold (Au), including 42.70m (48.3m–91.0m) at 1.33 g/t Au; 28m at 1.60 g/t Au and 5m (70.0m–75.0m) at 2.96 g/t Au and a shallow copper intersection of 16m at 0.3% copper (Cu).
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Meanwhile, Hole ADK003 intersected 84m (55.0m–139.0m) at 0.6 g/t Au, including 2m (55.0m–57.0m) at 1.36 g/t Au; 3m (61.0m–64.0m) at 1.16 g/t Au; 6m (93.0m–99.0m) at 0.96 g/t Au and 15m (124.0m–139.0m) at 1.26 g/t Au.
Finally, Hole ADK004 drilled 500m north of holes ADK001 and ADK003 and intersected 84.10m (72.0m–156.1m) at 0.96 g/t Au, including 10m (74.0m–84.0m) at 1.41 g/t Au; 15.60m (91.0m–106.6m) at 1.20 g/t Au; 4.60m (151.5m–156.1m) at 2.00 g/t Au and 1m (335.0m–336.0m) at 5.24 g/t Au.
In a statement, Adyton executive chairman and CEO Frank Terranova, said the results confirmed the continuity and extensions to the existing gold Inferred Resource.
“The presence of higher-grade gold zones is very encouraging and will be a target in future drilling programs,” Terranova said. “Copper in the system is also confirmed, and more work is needed to test the copper porphyry potential identified from recent 3D Induced Polarisation (IP) modelling, particularly at depth.”
Located in a Tier 1 region along a mineral belt containing the world class Simberi, Lihir, and Panguna gold and copper projects, Terranova said the model at Feni was for a “Lihir-style” epithermal gold overprint on a deeper porphyry copper system.
“The geological setting and mineralisation types are very similar between Lihir and Feni," noted Terranova. ”With all five holes in this initial program intersecting gold mineralisation, the program has reinforced our belief that the Feni Project has significant potential for a large scale, low sulphidation epithermal gold project similar to the Lihir and Simberi styles of mineralisation. The program has highlighted the potential for a significant discovery to be made in the 1.5 km long Kabang structural corridor,” the CEO added.
Program overview
The five-hole drill program was completed in September 2021 at Feni, testing the prospective Kabang mineralised corridor for extensions of the shallower Lihir-style epithermal gold zone and deeper porphyry copper-gold target.
“The initial results from the first five holes are very encouraging, confirming the potential for higher grade ore zones within a broader lower grade gold envelope,” said the company.
Adyton noted that the short programs at Kabang and Matangakaka provide impetus for the next drilling stage which will be focused on resource extensions and testing the depth potential along the more than 1.5 km strike extent. Moreover, the Kagang drilling tested a geophysical target and intersected strong gold mineralisation and indications of copper mineralization.
The firm said that based on the success of the initial diamond drilling program, there is a discovery to be made in the Kabang structural corridor with a focused drilling program along the 1.5 km long by 500m wide zone.
The Kabang Prospect has potential for fast-track development into an advanced project for low sulphidation epithermal gold mineralization, noted the company.
Adyton currently has a portfolio of highly prospective mineral exploration projects in Papua New Guinea on which it is looking for copper and gold. The company’s projects are on the Pacific Ring of Fire which hosts several world class copper and gold deposits.
Contact the author Uttara Choudhury at uttara@proactiveinvestors.com
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