Project sites report rise in gold

THE Adyton Resources Corporation has reported an 88 per cent increase in gold ounces at its Fergusson Island gold project and Feni gold and copper project.
Fergusson Island maiden indicated resource of 175,000 gold ounces at 1.33 grams/tonne (g/t) and inferred resource increased by 33 per cent to 540,000 gold ounces at 1.08 g/t.
Feni Island inferred resource increased by 123 per cent to 1,460,000 gold ounces at 0.75 g/t.
Adyton chairman, president and chief executive officer Frank Terranova said the updated resource estimates would provide a strong basis for technical studies to be undertaken before submitting a mining lease application for the Fergusson Island project by the end of 2022.
“When we acquired the Fergusson Island and Feni Island projects, we saw a unique opportunity to create a portfolio of complementary projects, each of which demonstrated clear pathways for accelerated development,” Terranova said.
“The Fergusson Island project provides a relatively simple pathway to near term production while the Feni project has the potential to be a project of international significance.
“With a relatively modest drill programme at Gameta, and a re-assessment of the economic cut-off grade based on a conceptual mining study, we have significantly increased the size of our overall mineral resource estimate, which leaves the company confident for the future.”
Terranova is confident that future exploration programmes would continue to grow the mineral resources on Fergusson Island with the resource being
close to the surface, and open in multiple directions including at depth.
He said the Feni Island’s resource estimate upgrade was also very encouraging.
Mayur Resources own about 43 per cent of Adyton.