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An announcement from Adyton Resources Corporation ( (TSE:ADY) ) is now available.
Adyton Resources has reported a significant updated mineral resource estimate for its Wapolu gold project on Fergusson Island in Papua New Guinea, with indicated resources of 1.0 million tonnes at 1.00 g/t gold for 33,000 ounces and inferred resources of 12.7 million tonnes at 0.97 g/t gold for 393,000 ounces, representing a roughly 197% increase in inferred resources versus the prior estimate. The company views the higher-grade, near-surface open-pit resource and the expanded overall resource base on Fergusson Island as materially strengthening its development strategy and de-risking the path to a mining lease, with Wapolu planned as an initial ~300,000 tpa run-of-mine, shallow open-pit operation producing a gold concentrate, fully funded to production under its joint venture with EVIH and supported by a concentrate offtake LOI and further resource updates at Gameta and Feni expected in 2026.
More about Adyton Resources Corporation
Adyton Resources Corporation is a gold exploration and development company focused on advancing projects in Papua New Guinea, particularly on Fergusson and Feni Islands. The company is progressing shallow, open-pit gold operations designed around simple, low-cost processing flowsheets to produce gold-rich concentrate for offtake partners, as it targets near-term production and cash flow generation.
Average Trading Volume: 569,014
Technical Sentiment Signal: Strong Buy
Current Market Cap: C$91.76M
See more data about ADY stock on TipRanks’ Stock Analysis page.