- Adyton Resources (TSXV:ADY) is gearing up to restart work activities at its Feni Island Gold-Copper Project in Papua New Guinea
- The company recently closed C$1.5 million in financing that will allow it to kickstart work activities with Southern Geoscience Consultants
- The focus will be reprocessing and reinterpreting historical geophysics data and interrogating against other technical datasets
- Shares of Adyton Resources are up 16.67 per cent to C$0.105 as of 10:17 am ET
Adyton Resources (TSXV:ADY) is set to restart work activities at its Feni Island Gold-Copper Project in Papua New Guinea.
In a news release Thursday, the company stated it has recently closed C$.15 million in financing that will allow it to kickstart work activities together with data science group Southern Geoscience Consultants (SGC).
With drilling results from 2021, the focus by SGC will be reprocessing and reinterpreting historical geophysical data and interrogating against other technical data sets.
Geophysical data sets will include island-wide magnetics, radiometrics, radar photography and detailed induced polarization (IP).
“I am excited about recommencing the work program on Feni, which is located in one of the most desirable exploration addresses globally,” Tim Crossley, managing director at Adyton Resources, said in a statement. “The regional geology is highly prospective for large mineralized gold-copper systems, as evidenced by the discoveries and subsequent [gold/copper] mines on Simberi Island, Lihir Island, and Panguna mine on Bougainville Island, all located on the same island arc system as Feni.”
The company also stated this will be the first time historical geophysical data sets will have been reprocessed using modern algorithms. As such, this will form the structural framework at the project and provide optimized locations for detailed follow-up geophysics programs.
Adyton Resources is focused on developing gold and copper resources in world-class mineral jurisdictions, including its mineral exploration projects in Papua New Guinea.
Shares of Adyton Resources Corp. (TSXV:ADY) are up 16.67 per cent to C$0.105 as of 10:17 am ET.
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