Adyton Resources (TSX-V:ADY, OTCQB:ADYRF) Corporation told investors it has filed updated technical reports with the securities regulators for increased mineral resources estimates for its 100%-owned Fergusson Island and Feni Island Projects in Papua New Guinea.
The Australia-based exploration company said the technical reports filed with SEDAR have an effective date of October 14, 2021, and support the mineral resource estimates for the two projects released on the same day.
READ: Adyton Resources reports 88% increase in total gold resources
Adyton said key highlights from the project include:
- An 88% increase in total gold ounces across the company’s 100%-owned Fergusson Island Gold Project and Feni Gold and Copper Project, located within Papua New Guinea’s renowned “Rim of Fire”;
- Fergusson Island maiden indicated resource of 175,000 gold ounces at 1.33 grams/tonne (g/t) and inferred resource increased by 33% to 540,000 gold ounces at 1.08 g/t;
- Feni Island inferred resource increased by 123% to 1,460,000 gold ounces at 0.75 g/t.
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 at stephen.gunnion@proactiveinvestors.com