Tag: Adyton Resources Corp.

Adyton Resources reported significant copper assays from one hole at its 100%-owned Feni Island project in Papau New Guinea’s Rim of Fire. A total of five holes (1,982m) were completed as part of the maiden drilling program at Feni Island with all five holes returning significant intersections of gold mineralization (previously reported). We view these intercepts from two potential Cu zones very positively, as Adyton could have potentially found a copper porphyry system, helping validate the company’s geological model. In our view, Adyton remains under the radar with a ridiculously low EV/oz of <US$1, and we believe further exploration success could lead to a warranted re-rating of the company’s stock.

Adyton Resources reported five assay results (1,982m) from its maiden drilling program at its its 100%-owned Feni Island Cu/Au project, within Papua New Guinea’s renowned “Rim of Fire”. The five holes were drilled to test a geophysical target along the highly prospective Kabang mineralized corridor to test continuity and extensions of what is believed to be a shallow, large scale, epithermal Au zone and deeper porphyry Cu-Au target. In our view, Adyton is still not yet getting the recognition it deserves from investors. It trades at a ridiculously low EV/oz of US$5 despite high potential to increase its resource base from 1.15M oz to 2M oz quickly at Gameta, Wapulo and Feni Island.

Adyton Resources reported assay results for an additional nine holes from its maiden, 38-hole (3,381m) drilling campaign at its 100%-owned Gameta Au project on Fergusson Island, within Papua New Guinea’s renowned “Rim of Fire.” Importantly, six holes have uncovered a new zone of high-grade Au mineralization completely outside the existing resource footprint. In our view, Adyton is primed for a re-rating opportunity; led by a strong management team, we believe the latest set of drill results further demonstrates potential for the company to quickly grow its existing 1.15M oz Au resource to +2M oz Au.