Review of existing and historical data on Feni Island reinforces significant Cu-Au discovery potential
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HIGHLIGHTS
- Numerous highly prospective copper-gold porphyry-epithermal targets remain untested.
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Gold mineralized sinters (up to 33g/t Au) at active geothermal system at Kapkai 3km NW along structure from Kabang - analogous to the active geothermal system at
Lihir Gold Mine (Newmont). - Gold mineralization up to 75g/t Au in silicified hydrothermal breccia at Natong 5.5km SE of existing Kabang Resource (1.46Moz Au).
- Outcropping observations of copper-bearing (py-cpy-bn) intensely altered and brecciated intrusives at Danmagal 1.5km SW of the Kabang Resource.
- Over 10km of arc-parallel structures contain significant copper-gold porphyry-epithermal mineralized targets, outside the current Kabang resource, and remain poorly tested to date.
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Field program planned to start late
July 2024 with a focus on sampling highly prospective epithermal-porphyry gold-copper prospects at theFeni Island Project .
PORT MORESBY, PNG,
CEO Statement:
"It is always nice when doing these kind of data reviews to be consistently surprised on the upside with findings" said
Historical Data Review
Adyton has recently acquired an extensive data set of hardcopy historical reports which outline previous work on Feni Island. Despite multiple references to outcrops with porphyry-style quartz-pyrite-chalcopyrite-bornite veins, significant gold-copper-molybdenum assay results in rock chip samples, and alteration styles typical of porphyry-style mineralization, the historical exploration focus was only on low sulphidation gold mineralization in the crater area and at Kabang. Significantly, historical references to areas of copper-gold mineralization, and porphyry style veining and alteration, coincide with a number of intrusive centers recently defined by Adyton using reprocessed historical magnetic data (see Adyton NR dated
Danmagal Prospect
The Danmangal Prospect was identified during reconnaissance work in the late 1990's as an area of outcropping intensely altered and brecciated syenite porphyry with visible pyrite-chalcopyrite-bornite mineralization. Alternation assemblages are noted as potassic (K-feldspar + biotite), overprinted by phyllic (quartz + sericite + pyrite), overprinted by advanced argillic and argillic (alunite + kaolinite +/- smectite + illite). The area is coincident with an historical >100ppb gold in soil anomaly and a magnetic anomaly recently identified by Adyton. Danmagal will be a priority target during the upcoming field program.
Natong Prospect
Previous mapping and sampling at Natong in the 1980's defined a highly gold anomalous hydrothermal breccia. The historical database suggests that a significant number of 50 rock-chip samples returned high gold assays including 53.8g/t Au, 53.5g/t Au, 53.0g/t Au, 19.8g/t Au and 8.5 g/t Au in outcrop samples and 75g/t Au in a float sample.
Ten aircore drill holes (302m) and 19 diamond drill holes (2255.55m) were drilled at Natong in the late 1980's and intercepted a peak gold grade of 0.9m @ 33.2 g/t Au (NSD002: 20.4m to 21.3m). Given the tenure of gold in the surface rock samples, the significant extent of the alteration zone mapped at surface, the lateral extent of the gold mineralized hydrothermal breccia, observations of basement sediments as clasts within the breccia (evidence of deeper seated source to the mineralized breccia), and the shallow nature of the historical drilling (average depth 89m), Adyton does not consider that historical drilling adequately tested the main source of the gold mineralized hydrothermal breccia at Natong.
Adtyon has not been able to verify the assay results cited above, does not consider them current, and cautions that they should not be relied upon. The historical results are included for context. An aggressive follow-up field program is planned to commence at Natong in
Kapkai Prospect
Historical mapping and sampling in the late 1980's included collection of 13 sinter samples taken at the Kapkai geothermal system. Samples were highly anomalous in gold and returned significant assays including 33.0g/t Au, 18.7g/t Au, 15.4g/t Au, and 18.5g/t Au. Sinters are mineral precipitates formed when geothermal fluids vent to surface. Whilst Adtyon has not been able to verify the assay results cited above, does not consider them current, and cautions that they should not be relied upon, they have been included for context. Adyton considers the Kapkai Prospect to be a high priority for upcoming sampling and mapping.
These three prospects (Kapkai, Danmagal, and Natong) are just a small part of the historical dataset available and highlight the spatial extent of known gold and copper mineralization at the
Forward Works
Field program planned to start late
ON BEHALF OF THE BOARD OF ADYTON RESOURCES CORPORATION
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 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
The Fergusson Island Project currently has a mineral resource prepared in accordance with NI 43-101 dated
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
Qualified Person
The scientific and technical information contained in this press release has been prepared, reviewed, and approved by Dr
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 all statements with respect to the funding of the Initial Investment Amount, the completion of the Initial Investment Milestones and the funding and development of the Project. 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 to global supply chains caused by hostilities in the
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