Adyton Resources has made significant progress at its Feni Island gold project in Papua New Guinea, completing 3332m of drilling as of late July.
Adyton has completed six of its planned diamond drill holes, with two currently in progress. Results have been received from the first three drill holes.
The company has hit grades as high as 144.2m at 1.18 grams per tonne (g/t) from 45m, intersected at FDD002, which included 93m at 1.58g/t gold.
Other results include 76m at 1.43g/t gold intersected at FDD001, and 81m at 1.12g/t gold intersected at FDD003.
“These preliminary gold assays are very encouraging and demonstrate consistently greater than 100-gram-per-metre grade intercepts at relatively shallow depths,” Adyton Resources chief executive officer Tim Crossley said.
“Subsequent to these holes being drilled we have tested for deeper mineralised extensions outside of the existing block model and we have had success with strong visual observed mineralisation to end of the holes.”
Crossley said FDD005 could deliver something special.
“Hole FDD005 was drilled to 839m and showed visual mineralisation from 45m through to end of hole, for a 794m mineralised interval,” he said. “This hole in particular has generated a lot of excitement with our geology team as we await with interest for the assays to be reported.”
The Feni Island project, which boasts an inferred resource of 1.45 million ounces, is part of the Tabar to Feni Island chain that hosts Simberi and Lihir gold mines.
To the south-east of Feni Island lies the giant Panguna deposit on Bougainville Island.
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