Adyton Resources (TSX-V:ADY, OTCQB:ADYRF) Corporation has said that its exploration license at the Feni Island project was renewed for another two years.
Feni is a copper-gold property in Papua New Guinea that has shown strong drill results from Adyton’s initial drill program in late 2021. The license was renewed from August 2020.
“The renewal, which was recommended by the Mineral Resources Authority (MRA) and approved by the Minister for Mining, was welcomed as the company moves into the next phase of its exploration program at Feni following the highly successful 2021 drilling campaign which culminated in hole ADK004 intersecting significant copper & gold mineralization,” Adyton CEO Tim Crossley said in a statement.
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Hole ADK004, drilled in the Matangkaka area, intersected 6.4 metres at 5.1% copper and 1.6 grams per ton gold (g/t), including 3.6 metres at 6.9% copper and 2.1 g/t gold, and 0.7 metres at 14.5% copper and 2.4 g/t gold.
Crossley added that the ADK004 intersect had generated “significant interest” from large companies who are searching for their next generation of copper ore bodies.
Port Moresby-based Adyton has a portfolio of highly prospective mineral exploration projects in Papua New Guinea on which it is exploring for copper and gold.
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