Port Moresby, Papua New Guinea--(Newsfile Corp. - February 27, 2025) - Adyton Resources Corporation (TSXV: ADY) ("Adyton" or the "Company") is pleased to provide an update on the importance of copper mineralization with respect to the Kabang Mineral Resource Estimate on Feni Island.
HIGHLIGHTS
Significant copper mineralization exists at Feni Project, not previously included in MRE.
Historical significant copper results include:
250m @ 0.77 g/t Au and 0.17% Cu
85.4m @ 0.94 g/t Au and 0.57% Cu
Two diamond drill rigs have recently commenced drilling at the Kabang Prospect on Feni Island and the company will provide a more detailed update in the coming days.
"Although this analysis is preliminary, it does add a very significant dimension into the Feni deposit which has historically only been targeted as a pure gold deposit," stated Tim Crossley, Chief Executive Officer. "Regionally, the Lihir Island chain in which Feni is situated in has more than 120 M oz of gold and 6 Mt of copper from developed discoveries. Feni sits between the Lihir epithermal gold deposit (87 M oz) and the Panguna copper-gold porphyry deposit on Bougainville Island (23 M oz gold and 6.3 Mt copper)".
Figure 1: The Kabang Inferred Mineral Resource Estimate is open in all directions along strike and at depth.
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The current Kabang Inferred Mineral Resource Estimate of 60 Mt @ 0.75 g/t Au for 1.46 Moz Au (0.5 g/t cut-off) is based on gold-only (no copper) assay results from a number of historical holes, and notably exclude the 5-hole program by Adyton in 2021. Pre-Adyton historical drilling was generally shallow, and, in many instances, holes did not penetrate post-mineralization cover or assay for copper. The current Mineral Resource Estimate at Kabang is open in all directions.
As noted above, not all historical holes were assayed for copper and copper was not included in the Kabang MRE. Some of these holes which were assayed for copper returned near-surface gold and copper intercepts, including:
- AMD002: 250m @ 0.77 g/t Au and 0.17% Cu (surface to 250m EOH) (Historical)
- ADK004: 85.4m @ 0.94 g/t Au and 0.57% Cu (from 71m downhole) (Adyton)
- KAD001: 106m @ 0.84 g/t Au and 0.35% Cu (from 3m downhole) (Historical)
The results of the Adyton drilling, which was proximal to the existing Kabang MRE, were also not included in the MRE, despite the long and significant intercepts.
Adyton recently completed a review of all drill holes which were assayed for gold and copper - including both historical holes and those drilled by Adyton. Gold only and gold equivalent grades are presented in Table 1 below. Gold equivalent grades (gold plus copper) are significantly higher than gold only grades. In 8 of the 15 holes studied, gold equivalent grades were between 20% to 56% higher than gold only grades.
The current drill program at Kabang will focus on: 1) twinning a number of historical holes which will be assayed for gold and copper; and 2) drilling step-out holes along strike of known mineralization and step-back holes beneath the existing resource. The gold-copper studies completed by Adyton suggest that the inclusion of copper and gold assays is likely to have a significant positive impact on future mineral resource estimates.
Table 1: Significant gold-copper intercepts at Kabang showing gold only and gold equivalent grades. Addition of copper has a significant positive impact on overall grades. Gold equivalent grades were calculated using the formula Au+(Cu%*0.93) nominally based on a gold price of US$2,860/oz and a copper price of US$4.50/lb.
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Quality Assurance / Quality Control
Adyton follows industry-recognized standards of Best Practice and Quality Assurance/Quality Control. Drill core samples were submitted in batches which include a field blank, certified reference materials and staged duplicates. Samples were sealed in plastic bags using single use tie-locks ensuring a chain of custody. To date all batches have passed QAQC and blanks and CRM's were within acceptable tolerance limits.
For further information please contact:
Tim Crossley, Chief Executive Officer
E-mail: ir@adtyonresources.com
Phone: +61 7 3854 2389
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this press release.
ABOUT ADYTON RESOURCES CORPORATION
Adyton Resources Corporation is focused on the development of gold and copper resources in world class mineral jurisdictions. It currently has a portfolio of highly prospective mineral exploration projects in Papua New Guinea on which it is exploring to expand its identified gold Inferred and Indicated Mineral Resources and expand on its recent significant copper drill intercepts on the 100% owned Feni Island project. The Company's mineral exploration projects are located on the Pacific Ring of Fire on easy to access island locations which hosts several globally significant copper and gold deposits including the Lihir gold mine and Panguna copper/gold mine on Bougainville Island, both neighboring projects to the Company's Feni Island project.
Adyton has a total Mineral Resource Estimate inventory within its PNG portfolio of projects comprising indicated resources of 173,000 ounces gold and inferred resources of 2,000,000 ounces gold.
The Feni Island Project currently has a mineral resource prepared in accordance with NI 43-101 dated October 14, 2021, which has outlined an initial inferred mineral resource of 60.4 million tonnes at an average grade of 0.75 g/t Au, for contained gold of 1,460,000 ounces, assuming a cut-off grade of 0.5 g/t Au. See the NI 43-101 technical report entitled "NI 43-101 Technical Report on the Feni Gold-Copper Property, New Ireland Province, Papua New Guinea prepared for Adyton Resources by Mark Berry (MAIG), Simon Tear (MIGI PGeo), Matthew White (MAIG) and Andy Thomas (MAIG), each an independent mining consultant and "qualified person" as defined in NI 43-101,available under Adyton's profile on SEDAR+ at www.sedarplus.ca. Mineral resources are not mineral reserves and have not demonstrated economic viability.
The Fergusson Island Project currently has a mineral resource prepared in accordance with NI 43-101 dated October 14, 2021 which outlined an indicated mineral resource of 4.0 million tonnes at an average grade of 1.33 g/t Au for contained gold of 173,000 ounces and an inferred mineral resource of 16.3 million tonnes at an average grade of 1.02 g/t Au for contained gold of 540,000 ounces. See the technical report entitled "NI 43-101 Technical Report on the Fergusson Gold Property, Milne Bay Province, Papua New Guinea" prepared for Adyton Resources by Mark Berry (MAIG), Simon Tear (MIGI PGeo), Matthew White (MAIG) and Andy Thomas (MAIG), each an independent mining consultant and "qualified person" as defined in NI 43-101,available under the Company's profile on SEDAR+ at www.sedarplus.ca. Mineral resources are not mineral reserves and have not demonstrated economic viability.
Adyton is also quoted on the OTC under the code ADYRF and on the Frankfurt Stock Exchange under the code 701:GR.
For more information about Adyton and its projects, visit www.adytonresources.com
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Qualified Person
The scientific and technical information contained in this press release has been prepared, reviewed, and approved by Dr Chris Wilson BSc (Hons), PhD, FAusIMM (CP), FSEG, FGS, the Chief Geologist and a Director of Adyton, who is a "Qualified Person" as defined by National Instrument 43-101 - Standards of Disclosure for Mineral Projects.
Forward looking statements
This press release includes "forward-looking statements", including forecasts, estimates, expectations, and objectives for future operations that are subject to several assumptions, risks, and uncertainties, many of which are beyond the control of Adyton. Forward- looking statements and information can generally be identified by the use of forward-looking terminology such as "may", "will", "should", "expect", "intend", "estimate", "anticipate", "believe", "continue", "plans" or similar terminology. Forward looking statements in this news release include plans pertaining to the drill program, the intention to prepare additional technical studies, the timing of the drill program, uses of the recent drone survey data, the timing of updating key findings, the preparation of resource estimates, and the deeper exploration of high-grade gold and copper feeder systems . The forward-looking information contained herein is provided for the purpose of assisting readers in understanding management's current expectations and plans relating to the future. Readers are cautioned that such information may not be appropriate for other purposes.
Forward-looking information are based on management of the parties' reasonable assumptions, estimates, expectations, analyses, and opinions, which are based on such management's experience and perception of trends, current conditions and expected developments, the receipt of any necessary permits, licenses and regulatory approvals in connection with the future development of the projects in a timely manner; the availability of financing on suitable terms for the development; construction and continued operation of the Fergusson Island Project and the Feni Island Project; the ability to effectively complete the drilling program; and Adyton's ability to comply with all applicable regulations and laws, including environmental, health and safety laws.
Investors are cautioned that forward-looking statements are not based on historical facts but instead reflect Adyton's management's expectations, estimates or projections concerning future results or events based on the opinions, assumptions and estimates of managements considered reasonable at the date the statements are made. Although Adyton believes that the expectations reflected in such forward- looking statements are reasonable, such information involves risks and uncertainties, and under reliance should not be placed on such information, as unknown or unpredictable factors could have material adverse effects on future results, performance or achievements expressed or implied by Adyton. Among the key risk factors that could cause actual results to differ materially from those projected in the forward- looking statements are the following: impacts arising from the global disruption, changes in general macroeconomic conditions; reliance on key personnel; reliance on Zenex Drilling; changes in securities markets; changes in the price of gold or certain other commodities; change in national and local government, legislation, taxation, controls, regulations and political or economic developments; risks and hazards associated with the business of mineral exploration, development and mining (including environmental hazards, industrial accidents, unusual or unexpected formations pressures, cave-ins and flooding); discrepancies between actual and estimated metallurgical recoveries; inability to obtain adequate insurance to cover risks and hazards; the presence of laws and regulations that may impose restrictions on mining; employee relations; relationships with and claims by local communities and indigenous populations; availability of and changes in the costs associated with mining inputs and labour; the speculative nature of mineral exploration and development (including the risks of obtaining necessary licenses, permits and approvals from government authorities); and title to properties. Investors are cautioned that any such statements are not guarantees of future performance and that actual results or developments may differ materially from those projected in the forward-looking statements. Such forward-looking information represents management's best judgment based on information currently available. No forward-looking statement can be guaranteed, and actual future results may vary materially. Readers are cautioned not to place undue reliance on forward looking statements or information. Adyton Resources Corporation undertakes no obligation to update forward-looking information except as required by applicable law.
NOT FOR DISSEMINATION IN THE UNITED STATES OR THROUGH US NEWSWIRE SERVICES
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SOURCE: Adyton Resources Corporation
