Adyton Resources (ADY) is releasing assay results from its Feni Island Project.
The results contain significant copper from the 100-per-cent-owned project’s maiden drilling program.
The Vancouver-based company has completed five diamond drill holes, totalling 1,982 metres at the project, located in Papua New Guinea.
The drill program was completed in September.
Multi-element assays have now been returned with significant copper intersections being recorded from one hole in two zones.
“The results confirm that Feni could contain zones of high-grade copper within the extensive gold mineralization and this confirmation of massive sulphide copper in the system justifies more work which is currently being planned,” said President, Executive Chairman and CEO Frank Terranova.
“The recent drilling program has highlighted the potential for a significant discovery to be made in the 1.5km long Kabang structural corridor. The corridor is lightly drilled, and going north is covered by younger volcanic cover, which has hindered previous exploration efforts – a focus of the next program will be exploring under this younger cover.”
Adyton Resources is up 30 per cent, trading at $0.065 at 1:59 pm EST.