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.
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.
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: tcrossley@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.
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.
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