Adyton – Fergusson Island Exploration Potential Confirmed
NEWS RELEASE
21 September, 2021
TSX Venture Exchange: ADY
For immediate release
OTCQB: ADYRF
FSE: 701GR
Adyton – Fergusson Island Exploration Potential Confirmed
Brisbane, Australia Tuesday 21 September, 2021 – Adyton Resources Corporation (TSX Venture: ADY)
(“Adyton”) is pleased to provide an update on the exploration potential being assessed at its 100%
owned Fergusson Island projects, located within Papua New Guinea’s renowned “Rim of Fire”.
Highlights:
Exciting new and extensional exploration targets to build on existing Resources ounces
identified on Fergusson Island at both Gameta and Wapolu confirming the growth potential
at both deposits
Follow up drilling currently being planned and expected to resume during 2021 to extend
existing Resources
Oredi Creek deposit to be included in next phase of work program
Frank Terranova, Chairman, President and Chief Executive Officer of Adyton commented “Whilst we
await the Resource update for the Gameta deposit which is due this month, Management continues to
assess the growth potential of the Fergusson Island project and has commenced designing the next
phase of drilling to be undertaken. The potential to grow this asset into a multi-million ounce resource,
given its starting position of circa 500koz is compelling in light of the recently completed drill programs”.
Exploration Target Overview
Gameta (100% owned):
At Gameta significant potential exists for additional discoveries (to build on existing Resource ounces)
to be made to the south-east of the known Gameta deposit, extending beyond the limit of the current
resources (The “Untested Southern area”) and to the north-east along the eastern margin to the
resource (“North-East margin Target Area” ) beneath historical shallow RC drilling – this north-east
margin area is where successful drilling by Adyton has already led to the discovery of a new high grade
ore zone (reported in TSX-V release 5th August 2021), shown in Figure 1 (“New High Grade Zone”).
The target areas for extensions to the current resources are shown below in Figure 1:
Figure 1: Exploration potential at Gameta - along the northeast margin and southern extension areas – will be
the focus of the next drilling program.
Wapolu (100% Owned)
At the nearby Wapolu deposit 30 Km away from Gameta significant potential exists to extend the
Resource at depth and along strike to the west along strike of the detachment fault zone
(mineralisation host) following up on anomalous historical stream sediment and soil sampling results
(Figure 2) - this will be one of the priority drill areas in the next drilling campaign.
Figure 2: Exploration potential at Wapolu showing exploration target area to west based on geological ground
work (mapping, trenching and costeaning), see discussion below.
The area to the immediate west of Wapolu (Laimomo) has previously been identified as hosting
anomalous gold at surface, and the high-grade stream sediment samples will be followed up as a
priority (Figure 3).
Figure 3 Wapolu and Laimomo Prospect, Fergusson Island – (Note: Figure re-drawn from 1992 geological
report “A Review of the Gold Potential of Fergusson and Goodenough Islands, PNG”, McNeil & Associates for
Macmin).
The area west of Wapolu (Laimomo Prospect) is dominated by the northeast trending shallow
westward dipping Kwakwau Fault defining the contact between footwall metamorphics and hanging
wall ultra-mafics / colluvium.
Costeaning and trenching have been carried out in the early 1990’s and which showed the
mineralisation to parallel the ultramafic and metamorphic contact (i.e. similar structural setting and
controls as seen at Gameta and Wapolu).
- Historical trench samples returned 5m @ 6.35g/t Au and 30m @ 0.93g/t Au, and historical
scout drilling returned widespread anomalous results to 4m @ 1.6g/t Au.
- A second gold anomalous zone returned 5m @ 10g/t Au; 4m @ 3.6g/t Au and 6m @ 1.57g/t
Au
- Several smaller targets have also been reported and represent additional Au vein targets.
- Geologically the contact shear zone (the DFZ) extends and is continuous through the Wapolu
deposit, hence the potential exists for resource additions with a proper planned drill
program as part of the next stage of the exploration of the larger Wapolu area.
The Mwanaikwa Zone (Laimomo Prospect) is interpreted to cover an area 550m long by 150m wide
delineated by a strong gold and arsenic soil anomalies using a 0.05 ppm contour (with values up to
0.78 g/t Au) and As using a 400ppm contour (with values up to 2,460ppm) anomaly (Figure 4).
Figure 4 Mwanaikwa zone at Laimomo (see text for description) – dominated by the Kwakwau Fault along
the contact between the footwall metamorphics and hanging wall ultra-mafics (Note: Figure re-drawn
from historical 1992 geological report “A Review of the Gold Potential of Fergusson and Goodenough Islands,
PNG”, McNeil & Associates for Macmin).
Further exploration at both Gameta and Wapolu clearly has the potential to add significantly to the
existing resources which will be a focus of the next drilling campaign.
Oredi Creek (100% Owned):
Oredi Creek is the third tenement Adyton has on Fergusson Island (Figure 5). The tenement is highly
prospective for high grade epithermal bonanza style-gold mineralisation with associated widespread
epithermal alteration focused along the Oredi Fault Zone.
Figure 5 Location of 100% owned Adyton tenements on Fergusson Island, showing Oredi Creek.
Historically only three shallow drill holes were drilled with the main prospects being Gomwanbila,
Oredi and Mambomabona, where previous explorers have identified:
Gomwanbila - structural controlled Au veins - 1.4g/t in rock chip; 0.5g/t in pan concentrate
Oredi – historical drill hole ORD001 testing structurally controlled zones of mineralisation
returned an intersection of 70m @ 0.50g/t Au; incl selected intervals of >1g/t and a high of
3.32m g/t Au over 1.3m
Mambomabona - 15 –20m wide shear zone, silicified with rock chip sampling up to 200g/t
Au; channel and floats 0.2g/t Au
The next stage exploration will focus along the Oredi Creek Fault Zone (Figure 6) – a highly
prospective structure for shear-hosted Au mineralisation as at Gameta and Wapolu.
Figure 6: Location of main prospects at Oredi Creek, on RTP magnetics.
ON BEHALF OF THE BOARD OF ADYTON RESOURCES CORPORATION
Frank Terranova, Chairman, President and Chief Executive Officer
For further information please contact:
Frank Terranova, Chairman, President and Chief Executive Officer
E-mail: [email protected]
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.
(1) Notes Regarding Inferred Mineral Resource Estimates
i. The Fergusson Island Project currently has a mineral resource prepared in accordance with National Instrument
43-101 - Standards of Disclosure for Mineral Projects (“NI 43-101”) dated December 17, 2020, which has outlined
an initial inferred mineral resource of: (i) at Gameta, 7.2 million tonnes at an average grade of 1.55 g/t Au, for
contained gold of 360,000 ounces, assuming a cut-off grade of 0.8 g/t Au; and (ii) at Wapolu, 3.1 million tonnes at
an average grade of 1.42 g/t Au, for contained gold of 140,000 ounces, assuming a cut-off grade of 0.8 g/t Au.
ii. See the NI 43-101 technical report entitled “NI 43-101 Technical Report on the Fergusson Gold Property, Milne Bay
Province, Papua New Guinea” (the “Fergusson Island Technical Report”) dated February 1, 2021 and prepared for
XIB by Mark Berry (MAIG), Simon Tear (MIGI PGeo), Matthew White (MAIG) and Ian Ryan Roy (MAIG), each an
independent mining consultant and “qualified person” as defined in NI 43-101, available under Adyton’s profile on
SEDAR at www.sedar.com.
(2) Geological information on the exploration targets at Wapolu (Laimomo) have been extracted from a historical 1992
geological report “Á Review of the Gold Potential of Fergusson and Goodenough Islands, PNG” (McNeil & Associates for
Macmin).
Qualified Person
The scientific and technical information contained in this press release has been prepared, reviewed, and approved by Rod
Watt, BSc Hons (Geo), FAusIMM, 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 ("NI 43-101"). Adyton Resources Corp press release dated
May 05, 2021: “The technical information in this press release has been reviewed and approved by Rod Watt, who is a fellow
of the Australian Institute of Mining and Metallurgy (AusIMM) and a Qualified Person as defined by National Instrument 43-
101 - Standards of Disclosure for Mineral Projects (NI43-101). Mr. Watt consents to the inclusion of his name in this release.
Mr Watt verified the data disclosed in this press release in accordance with industry standard best practices, including
sampling, analytical, and test data underlying the information or opinions contained therein.
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, and the preparation of a resource upgrade in Q3
2021. 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, and other factors that management believes are
relevant and reasonable in the circumstances, but which may prove to be incorrect. Such factors, among other things, include:
impacts arising from the global disruption caused by the Covid-19 coronavirus outbreak, 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.