TSX Venture Exchange: ADY
OTC: ADYRF
FSE: 701GR
PORT MORESBY, Papua New Guinea , June 12, 2024 /CNW/ – Adyton Resources Corporation (TSXV: ADY) (Adyton) is pleased to announce the appointment of former Friedland exploration manager Dr Chris Wilson as a Non-Executive Director to the Board. Dr Wilson’s appointment is subject to TSXV approval and fills the vacancy created by the prior resignation of Mr Anthony Williamson .
Dr Wilson, BSc (Hons), PhD, FAusIMM (CP), FSEG, FGS, is a commercially-driven exploration geologist with over 30 years of global experience in area selection and prospect generation, generation of high value mineral exploration targets, and the design and management of large resource definition drilling programs. Dr Wilson has worked in over 80 countries, on most commodities and deposit styles. He has specialist experience with low to intermediate sulphidation epithermal Au-Ag-base metal systems, high sulphidation Au-Cu systems, and porphyry copper-gold systems and associated breccia- and sharn-hosted mineralization.
Dr Wilson has extensive project review and target generation experience, with demonstrated ability to integrate and interrogate complex multi-disciplinary datasets, and rapidly identify and test high value targets. Dr Wilson has very strong deposit model knowledge ensuring key controls on mineralization are placed within the wider context of a projects geological, structural and hydrothermal evolution.
Dr Wilson has proven ability to lead multi-disciplinary and multi-cultural, high talent teams under diverse cultural and physiographic regimes and is a Qualified Person for JORC and NI 43-10 compliant reporting and valuation. Dr Wilson spent 10 years with Ivanhoe Mines (TSX:IVN), including Exploration Manager for Ivanhoe Mines Mongolia, where he was responsible for an exploration portfolio of over 11 million hectares.
Dr Wilson comments, “I am delighted to be joining the Board of Adyton Resources Corporation and providing oversight of geological exploration of the project portfolio in Papua New Guinea. Following my PhD I was appointed Lecturer at the University of Papua New Guinea (Port Moresby Campus) which provided me with a deep understanding of PNG’s geology and varied people and cultures. Adyton has robust projects with NI43-101 compliant mineral resource estimates, providing an excellent foundational value, on which to conduct further exploration”. Dr Wilson further comments, “despite a number of historical drilling campaigns on Feni Island, most holes were shallow, and many did not penetrate the post-mineral volcanic cover nor assayed for copper. Adyton is presently reprocessing historical magnetic data, and reinterpreting historical drill hole assay results, which indicate there are a number of high reward exploration targets that were never adequately drill tested. This is confirmed by the most recent 5 hole drill program by Adyton also(see News Release dated December 1, 2021 ) which intersected intervals such as 35.9 m @ 0.3% Cu and 1.1 g/t Au (70.7 to 106.6 m ) and 6.4 m @ 5.1% Cu and 1.6 g/t Au ( 147.7 m to 156.1 m ) in hole ADK004. This along with a small number of historic deeper holes indicate both significant gold and copper exploration upside.”
Adyton Chairman Sinton Spence said ” I am thrilled to have Dr Wilson join the Board, Dr Wilson’s unique background having lectured in Geology at the University Of PNG along with his experience at Ivanhoe mines and exposure globally to many deposit types combined with his matter of fact and pragmatic approach fills an important gap on our Board as we look to build a refreshed Board.
ON BEHALF OF THE BOARD OF ADYTON RESOURCES CORPORATION
Tim Crossley , Chief Executive Officer
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this press release.
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 to expand its identified gold Inferred and Indicated Mineral Resources and expand on its recent significant copper drill intercepts on the 100% owned Feni Island project. The Company’s mineral exploration projects are located on the Pacific Ring of Fire on easy to access island locations which hosts several globally significant copper and gold deposits including the Lihir gold mine and Panguna copper/gold mine on Bougainville Island, both neighboring projects to the Company’s Feni Island project.
Adyton has a total declared Resource inventory (disclosed in accordance with NI 43-101) within its PNG portfolio of projects of 2,175,000 ounces gold.
Adyton is also quoted on the OTC under the code ADYRF and on the Frankfurt Stock Exchange under the code 701:GR .
For more information about Adyton and its projects, visit www.adytonresources.com
The scientific and technical information contained in this press release has been prepared, reviewed, and approved by Rod Watt, BSc Hons (Geo), FAusIMM, Chief Geologist of Adyton, who is a “Qualified Person” as defined by National Instrument 43‐ 101 ‐ Standards of Disclosure for Mineral Projects. Mr. Watt consents to the inclusion of his name in this release.
This press release includes “forward‐looking statements”, including forecasts, estimates, expectations, and objectives for future operations that are subject to several assumptions, risks, and uncertainties, many of which are beyond the control of Adyton. Forward‐ looking statements and information can generally be identified by the use of forward‐looking terminology such as “may”, “will”, “should”, “expect”, “intend”, “estimate”, “anticipate”, “believe”, “continue”, “plans” or similar terminology. Forward looking statements in this news release include all statements with respect to the funding of the Initial Investment Amount, the completion of the Initial Investment Milestones and the funding and development of the Project. The forward‐looking information contained herein is provided for the purpose of assisting readers in understanding management’s current expectations and plans relating to the future. Readers are cautioned that such information may not be appropriate for other purposes. Forward‐looking information are based on management of the parties’ reasonable assumptions, estimates, expectations, analyses and opinions, which are based on such management’s experience and perception of trends, current conditions and expected developments, and other factors that management believes are relevant and reasonable in the circumstances, but which may prove to be incorrect. Such factors, among other things, include: impacts arising from the global disruption to global supply chains caused by hostilities in the Ukraine and the Middle East , changes in general macroeconomic conditions; changes in securities markets; changes in the price of gold or certain other commodities; change in national and local government, legislation, taxation, controls, regulations and political or economic developments; risks and hazards associated with the business of mineral exploration, development and mining (including environmental hazards, industrial accidents, unusual or unexpected formations pressures, cave‐ins and flooding); discrepancies between actual and estimated metallurgical recoveries; inability to obtain adequate insurance to cover risks and hazards; the presence of laws and regulations that may impose restrictions on mining; employee relations; relationships with and claims by local communities and indigenous populations; availability of and changes in the costs associated with mining inputs and labour; the speculative nature of mineral exploration and development (including the risks of obtaining necessary licenses, permits and approvals from government authorities); and title to properties. Investors are cautioned that any such statements are not guarantees of future performance and that actual results or developments may differ materially from those projected in the forward‐looking statements. Such forward‐looking information represents management’s best judgment based on information currently available. No forward‐looking statement can be guaranteed, and actual future results may vary materially. Readers are cautioned not to place undue reliance on forward looking statements or information. Adyton Resources Corporation undertakes no obligation to update forward‐looking information except as required by applicable law.