Drone Survey Completed at Feni Island Gold- Copper Project
Drone Survey Completed at Feni Island Gold-
Copper Project
Port Moresby, Papua New Guinea--(Newsfile Corp. - January 14, 2025) -
Adyton Resources
Corporation
(TSXV:
ADY
) ("
Adyton
" or the "
Company
") is pleased to announce the completion of a
high-resolution drone magnetic and topographic survey of the Feni Island Gold-Copper Project. Figures
1, 2, and 3, referenced in this release, provide visual details of the survey and the coverage.
The survey
was conducted by Geoscan, who deployed UAV drones and high-resolution quantum magnetometers.
HIGHLIGHTS
Completion of a 1673 line kilometer geophysical drone survey over Feni Island with
emphasis on the Kabang copper-gold mineral resource and Danmagal, Natong and
Kapkai Prospects.
Acquisition of high-resolution magnetic data and orthomosaic imagery, with post-
acquisition data processing and interpretation currently underway.
Positive engagement and community support of ongoing programs on Feni and Adyton's
commitment to employing and training Feni Island landowners.
Dr. Chris Bowden, Chief Operating Officer, commented: "
Magnetic data has a demonstrated history of
assisting with vectoring and discovery of porphyry and low sulphidation systems worldwide and
analogous world class mineral deposits in Papua New Guinea. Previous reinterpretation of Feni
Island historical magnetic data identified a number of juxtaposed terranes with signatures typical of
low sulphidation epithermal and porphyry styles of mineralization
(see Adyton NR dated June 26,
2024).
Historical data has allowed delineation of regional and local structures which provide the fluid
conduits for mineralizing fluids. The recent drone survey will provide a magnetic data set that is more
detailed than historical data, allowing for high resolution input into drill targeting, and step out drilling
of the existing 1.46 Moz Au resource at Kabang
."
Figure 1: 1980’s magnetic data (TMI1VD) over Feni Island, noting the Kabang MRE area.
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Figure 2: Recently completed drone survey raw data (TMI1VD), noting the significant increase in
resolution of magnetic data compared to Figure 1.
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Survey Specifications
The magnetic survey was flown on a North-South oriented 50 m spaced line using a 401 quadrocopter
drone and Geoshank quantum magnetometer. A number of east-west 'tie lines' were also flown. The
data is currently being processed by Southern Geoscience Consultants and Adyton will be updating on
key findings shortly.
Figure 3
: Geoscan and Adyton's local Feni Island team.
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Feni Regional Setting and Analogs
Located within the Tabar-Lihir-Tanga-Feni (TLTF) volcanic island chain, which hosts significant gold and
copper mineralization: Simberi/(
8Moz)
, Lihir (
87Moz
), Feni (
1.45Moz
[1]
), and Panguna (
23Moz
+
6.4Mt
Cu).
Young geological setting (<1.0m years) with significant geothermal energy potential. The adjacent Lihir
project installed approximately 60 Mw of geothermal power.
Observed gold and copper epithermal and porphyry-style mineralization at Feni, similar geological ages,
its regional address within the TLTF chain and adjacent to large deposits, all suggests strong geological
prospectivity and similarities with Lihir and Panguna deposits.
Feni Exploration History
Over 30 years of historical exploration from multiple company campaigns delivered: mapping,
geochemistry, geophysics and drilling (200 drillholes drilled for total 19,755m).
However, of the 200
historical drill holes, only 74 drillholes drilled more than 100m depth.
Historical drilling initially utilized shallow AC/RC that failed to penetrate the post mineral cover (tephra).
Historical deeper drilling was not systematically designed and thus has not adequately tested key areas
of interest, thus leaving the high potential areas largely unexplored.
For further information please contact:
Tim Crossley, Chief Executive Officer
E-mail:
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 for additional drill testing, the intention to prepare
additional technical studies, the timing of additional drill results, uses of the recent drone survey data, the
timing of updating key findings, the preparation of resource estimates, and the strength of geological
prospectivity. 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; 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; 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.
[1]
Feni drill assay results show significant copper (and new gold) assays not yet incorporated into a MRE.
Current MRE open in all directions.
NOT FOR DISSEMINATION IN THE UNITED STATES OR THROUGH US NEWSWIRE SERVICES
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