Place your Ad Here!
Adyton Resources Starts Drilling Program at Gameta Gold Project
by PNG Business News - March 25, 2021
Adyton Resources Corporation has started a 3,000-meter diamond drilling program at its Gameta Gold Project on Fergusson Island, which is part of Papua New Guinea's "Rim of Fire."
The Gameta Gold Project has a 360,000-ounce gold (oz Au) inferred mineral resource, and Adyton's Wapolu Gold Project on Fergusson Island has a 140,000-ounce gold (oz Au) inferred mineral resource. Given the existing resource on Gameta, the goals of this program are to increase trust and add ounces by drilling deeper and along with strike extension drilling.
The Fergusson Island projects are located in the same discovery zone as Misima and the nearby Woodlark Island projects.
The first drill hole has been finished after two drill rigs were mobilized to the site. By the end of May, the first assay results should be available. The program will supplement the 14,361 meters of past reverse circulation (RC) and diamond drilling at Gameta.
In May, the company will continue drilling on its 100% owned Feni Gold Project, which has a 650,000 oz Au inferred mineral resource and is located in a Tier 1 area along a mineral belt that includes the world-class Simberi, Lihir, and Panguna gold and copper projects.
Frank Terranova, Chairman, President, and Chief Executive Officer of Adyton said, “The company is pleased to be off to such a fast start after only listing in late February 2021. Having spent significant time and effort over the past several months creating a portfolio of highly prospective copper and gold exploration projects, the Adyton team is excited to be drilling and working to create shareholder value. The drill rigs are turning, and news flow is imminent. The company is very well positioned with more than $9 million in cash reserves, over 1,000,000 oz of mineral resources in the inferred category, and major shareholders and banking partners who remain fully supportive of our exploration strategy.”
Terranova stated that recent PNG COVID-19 developments had had no material impact on the company's exploration campaign since all of the Fergusson Island and Feni projects benefited from being located on islands.
He said, “The technical teams will remain on-site for the duration of the drilling programs which are protected by appropriate COVID-19 safety and health protocols.”
The Gameta job program has the following goals:
- Diamond drilling will be used to increase the trust in the project's existing inferred resources, allowing a large part of them to be categorized as indicated or higher.
- Drilling intended to extend the depth of historical drilling down-dip to test for extensions to the existing ore zones will be used to expand the existing resource base.
- To analyze prospective processing routes, collect ore-grade samples for metallurgical and geotechnical testing.
Adyton intends to deploy the two drill rigs to the Feni Gold Project, which is situated within the Lihir volcanic arc, in the coming weeks.
The initial Feni drill program will consist of approximately 3,000 meters of diamond drilling, which will be added to the project's existing 18,893 meters of RC and diamond drilling.
A substantial and largely untested porphyry copper target has been clearly highlighted by recent 3D re-processing of Induced Polarisation (IP) surveys conducted in 1998. This primary phase anomaly is modelled as a 150-200mm sub-vertical pipe with a substantial depth extent. The drilling program will focus on this pipe-like feature.
The drilling program at Feni has the following goals:
- Within the Kabang mineralised structural corridor, test for both porphyry copper and overprinting epithermal gold mineralisation. Drilling for the porphyry copper target would take place at a depth of 500 meters.
- By upgrading a part of the inferred resources to indicated status, the existing 650,000 oz Au inferred mineral resource will be increased, as will the trust in the current identified resources.
- Complete a drilling program in and around the Kabang prospect with the main objective of extending the existing inferred mineral resource and testing the highest priority exploration targets identified through the above work.
- Conduct an exploration drilling program along the strike of the main Kabang mineralized zone (800 meters), with three widely spaced sections along the mineralized zone, each with angled holes proposed across the mineralized zone:
- SW Kabang: Test the highlighted porphyry Cu/Au IP target and epithermal Au.
- Central Kabang: Test the central Kabang zone (around AMD005 and KAD004)
- NE Kabang: Test the Matangkaka area (west of the MAD group of holes)
Place your Ad Here!
PNG Business News - May 13, 2021
National Airport Corporation to Focus on Redevelopment Projects
The National Airports Corporation plans to devote more resources to the redevelopment projects at Kavieng, Tari, and Mendi airports as part of the Civil Aviation Growth Investment Program. With the exception of three airports, all airports under the CADIP program are on a budget, according to NAC acting managing director Rex Kiponge. Apart from Jackson Airport in Port Moresby, Kiponge claims that the majority of the country's airports are unable to handle the newly launched F100 aircraft. “The introduction of F100 aircraft has deteriorated the condition of runways in PNG. Under CADIP, fencing and runway length deficiencies will now meet the F100 and ICAO requirements. CADIP was implemented to meet the minimum PNG Civil Aviation Rules (CARS) and the International Civil Aviation Organisation (ICAO) standards and recommended practices in all the 22 airports in the country. “The F100 aircraft require a minimum runway length of 1900 metres –– only three airports meet this requirement.” The F100 will be able to land at 12 airports thanks to a CADIP runway length upgrade. Port Moresby is now the only province that meets the operating criteria for F100 planes. Standby control, security fencing, apron parking, runway, taxiway, and apron strength, and a runway length suitable for takeoff at maximum payload are all part of the 22 airport upgrades. Kiponge recently visited the three airports and expressed his satisfaction with the development. Contractors have already finished construction on the security fence at Kavieng Airport, and work on the runway extension is going well. Once the runway extension is complete, the contractors can begin work on the terminal. He mentioned that the runway extension at Tari Airport is complete, and contractors are currently working on the apron, which will be finished until the runway extension is completed. Owing to the contractors' inability to obtain materials for the runway at Mendi Airport, NAC has requested that they redo the runway before moving on to the other areas. “Despite whatever issues within NAC, I will ensure that all 22 NAC’s airports undergoing upgrading will be completed and I will put in a lot of efforts and focus to makes certain work is done well and completed,” Kiponge said.
PNG Business News - May 13, 2021
Govt to Focus on Downstream Processing
The government is putting a lot of effort into encouraging downstream production in the region. This was said by Prime Minister James Marape during a visit to Paradise Foods Company Limited. “We are focused on downstream processing as far as going forward is concerned –– instead of exporting raw products,” said Marape. “We want to go downstream to satisfy our local markets as well as export to economies around us.” PNG is fortunate, according to Marape, to have access to 60% of the world's gross domestic product (GDP) through the APEC network. “As well as, not just the APEC network, but in the vicinity of PNG’s accessibility to markets, we have over 4 billion people from the Pacific, Northern Asia, Western Asia and Northeast Asia put together. “So to satisfy our local markets in PNG for our 8 million-plus people, as well as the opportunity of exporting to markets closest to us like our neighbouring countries.” Marape has stated that he supports downstream production and marketing of PNG's natural resources both locally and internationally. “Today, I am privileged to visit an industry that has been at work since 1945, and I’d like to thank Paradise Foods Company Limited for doing a wonderful job and feeding our country.” Marape promised that the government will help the industry and market.
PNG Business News - May 13, 2021
Mayur Discusses Power Plant Project in Lae
Mayur Resources Ltd says it has formed an ongoing relationship with the State negotiation team to discuss and finalize a power purchase agreement (PPA) for its planned power plant in Lae, Morobe. The organization was waiting for the State negotiation team's makeup to be finalized and signed off, according to managing director Paul Mulder. After that, he said, the Enviro Energy Park (EEP) project's final discussions and negotiations will begin. Mayur's planned 52.5-megawatt EEP project is an advanced power plant that will produce more efficient and cheaper electricity than current solutions by combining conventional thermal energy (sourced from the company's wholly-owned Depot Creek project), solar, and biomass woodchip, while also supplying co-generated steam to nearby industrial users who were burning diesel for their steam needs. The EEP, which is near Lae, will also have steam as a by-product for local industrial uses, and potential dual fuel systems will allow for the use of diesel. “The energy park would balance the need for new environmentally friendly technologies and reliable energy,” Mulder said.