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Adyton reports silver potential with 2.7m @ 34 g/t Ag complementing recently reported high grade gold results

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Adyton reports silver potential with 2.7m @ 34 g/t Ag complementing recently reported high grade gold results

 

 

 

 

 

Adyton Resources Corporation (TSX-V: ADY) is pleased to report that multi-element analysis of drill core samples from the diamond drilling program at its 100% owned Gameta Gold Project have confirmed the potential for the Gameta project to contain a significant silver resource / Ag credit.

 

Various historical technical studies have identified the potential for silver to be present within higher grade gold zones on the Fergusson Island deposits. In addition, high silver grades were intersected within some of the higher-grade gold zones reported in diamond drilling carried out in the early 2000’s.

 

To confirm the silver potential of the Gameta project, a complete multi-element analysis of drill core samples from the current drill program is being undertaken in addition to the lead collection fire assays which are undertaken to analyse the gold content of the drill core samples. The Gold Assays are performed at the Intertek laboratories in Lae in Papua New Guinea, after which the samples are shipped to laboratories in Australia for the multi-element analysis. The reporting of silver assays for a drill hole therefore occurs sometime after gold assays are reported for that drill hole.

 

Multi-element assay results for holes ADD001 to ADD008 have now been returned, with significant silver reported in holes ADD001, 002 and 006.

 

Highlights:

           
 

Multi-element analysis of drill core samples reported significant silver intersections including:

           
  ADD001:   7.2m (26-33.2m) @ 12.5 g/t Ag
           
  ADD002:   20.7m (11.9-32.2m) @ 7.5 g/t Ag
           
  ADD006:   18.1m (60.7-78.8m) @ 12.6 g/t Ag
    Incl 2.7m (68.8-71.5m) @ 34.0 g/t Ag
           

 

Frank Terranova, Chairman, President and Chief Executive Officer of Adyton commented We are committed to obtaining a complete understanding of the Fergusson Island projects and advancing them as quickly as possible. The Pacific Rim of Fire is globally renowned for producing exceptional world class mineral assets that have demonstrated accelerated growth and, in many instances, surpassed the initial geological consensus of what their potential might be.

 

The silver potential identified by the multi-element assays complements the already exceptional Gold grades reported from the Gameta drill program, providing further validation of our decision to accelerate technical studies for the Fergusson Island projects and justifying the commencement of a follow up drill program as soon as practically possible.”

 

“This management team has a track record of identifying opportunities, growing companies and delivering longer term shareholder value within the Pacific Rim of Fire. Having been listed since February 2021, our focus continues to be the establishment of a solid foundation for Adyton’s future operations by remaining well-funded and rapidly advancing the Company’s core projects through targeted, disciplined and cost-effective exploration and development programs.” Terranova added.

 

Drill Program Overview:

 

The diamond drilling program at the Gameta Project was designed to test the continuity of mineralisation within the DFZ and below into the gneissic footwall, and to increase confidence in historical assay results within the existing inferred resource envelope from RC drilling conducted in the mid-1990’s (refer Figure 1). The drilling is focussed on the northern third (“the northern ore zone”) of the known resources with a strike extent of over 700m being tested (note the resource zone itself occurs over a strike interval of 2,000m).

 

Testing is targeting the shallower open pitable material, with drilling generally less than 120m and aims to provide confirmatory data to support the results from historical RC drilling programs ahead of an expected resource upgrade in Q3 2021. Some extensional drilling is also part of the program, testing below and down dip from known resources.

 

Whilst historical drilling and previous technical studies identified the potential for silver to be present within higher grade gold zones on the Fergusson Island deposits, to date a silver resource has not been estimated. To enable a more complete understanding of the silver potential of the projects, and to potentially enable the estimation of a silver resource, a complete multi-element analysis of drill core samples from the current drill program is being undertaken in addition to the lead collection fire assays which are undertaken to analyse the gold content of the drill core samples.

 

Figure 1 Gameta Project drill hole plan. Refer Figure 2 for detailed view of Cross Section 25 showing Ag intersection is available at

https://www.globenewswire.com/NewsRoom/AttachmentNg/31dcd5e5-523b-474f-a249-7ec0e6288fe5

 

Current drilling:

 

The Gameta drill program was completed on June 4, 2021, some seven weeks ahead of schedule, with 38 diamond drill holes totalling 3,381m having been drilled.

 

The Gold Assays are performed at the Intertek laboratories in Lae in Papua New Guinea, after which the samples are shipped to laboratories in Australia for the multi-element analysis. The reporting of silver assays for a drill hole therefore occurs sometime after gold assays are reported for that drill hole.

 

This release reports the multi-element assay results for holes ADD001 to ADD008 for which gold assays were reported in releases dated 5 May 2021 and 26 May 2021.

 

As summarised in the table below and in Figure 2 and Figure 3, a number of significant silver intersections which correlate with previously reported gold intersections have been reported, confirming the potential for significant silver content to be present in the higher-grade gold zones in the resource envelope. The presence of significant silver content would enhance the project economics.

 

Hole Gold intersection Silver intersection
ADD001 18.3m (20-38.3m) @ 2.65 g/t Au1 7.2m (26-33.2m) @ 12.5 g/t Ag
ADD002 27.2m (5-32.2m) @ 4.38 g/t Au1 20.7m (11.9-32.2m) @ 7.5 g/t Ag

ADD006

18.10m (60.7 – 78.8m) @ 4.88 g/t Au2

18.1m (60.7-78.8m) @ 12.6 g/t Ag
Including
2.7m (68.8-71.5m) @ 34.0 g/t Ag

1 Refer TSX-V announcement dated May 5 2021
2 Refer TSX-V announcement dated May 26 2021

Significant silver grades will be separately reported going forward as multi-element results are progressively returned from the laboratory and will be considered in the preparation of an updated resource estimate for the Gameta project which is expected to be completed in the third quarter of 2021.

 

Figure 2 Cross section 25 showing results from current drill program. Unlabelled holes are historical RC drill holes is available at

https://www.globenewswire.com/NewsRoom/AttachmentNg/367e883f-0a87-4043-8347-ebee781809bb.

 

Figure 3 Cross section 27 showing results from current drill program. Unlabelled holes are historical RC drill holes is available at

https://www.globenewswire.com/NewsRoom/AttachmentNg/7ab61d5a-3a59-4fdf-8663-77a17d15219b.

 

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 for copper and gold. The Company’s mineral exploration projects are located on the Pacific Ring of Fire which hosts several world class copper and gold deposits.

 

Map showing the location of Adyton’s Papua New Guinea exploration projects relative to significant PNG gold projects is available at

https://www.globenewswire.com/NewsRoom/AttachmentNg/2bc35e0a-f6d9-4292-8e18-2ba5099a89ca

 

Adyton was formed by a reverse takeover transaction completed with XIB I Capital Corporation on February 17, 2021 and commenced trading on the TSX Venture Exchange on February 24, 2021.

 

 

Posted June 11, 2021

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