PORT MORESBY, Papua New Guinea, May 26, 2022 (GLOBE NEWSWIRE) -- Adyton Resources Corporation (TSX Venture: ADY) is pleased to report that its recent preliminary metallurgical test work program performed by leading Australian metallurgy company Core Metallurgy Pty Ltd confirmed that ROM (‘run of mine”) ore samples from the Gameta deposit upgraded well using a limited range of conditions and produced a concentrate assay of 22.3 g/t Au and 32.9 g/t Ag with recoveries of 86.9% Au and 84.6% Ag.

Due to sample size limitations and the preliminary nature of the test work program, these results should be considered unoptimized with further test work required to optimize reagent conditions and further improve recoveries and grades.

Test work program overview – Three representative 30kg samples from crushed reject were initially selected representing the three main ore types, namely silica-rich ore, clay-rich ore, and footwall (quartz vein) mineralisation. Additional test work was subsequently completed on an additional 22kg of fresh-core samples to ensure that the test work mirrored as close as possible expected plant-feed ore.

Testing on the fresh core covered crushing, homogenisation, fire assay and ICP scan, indicative Leachwell extraction and flotation with a cleaner stage to produce a marketable concentrate. Results confirmed that flotation is the most suitable commercial method of gold recovery, producing a concentrate for sale to third parties or treated on-site using a suitable oxidative method.

Managing Director Tim Crossley said, “We are pleased with the outcomes of this preliminary test work which showed high recoveries of both gold and silver in concentrate which paves the way for a low capital, simple processing flow sheet of crush, grind and float to produce a saleable concentrate for sale to third party processors,” Mr. Crossley went on to say, “that with further optimization work we are confident that significantly higher gold concentrate grades may be achieved.”

Next Steps – further test work will focus on Pre-Feasibility Study (PFS) level studies on fresh drill core samples, examining both comminution (crushing and grinding) and flotation to optimise conditions and further improve metallurgical performance. Flotation optimisation will be carried out on blended composites, variability test work, and comminution for ball-mill sizing.

2021 Drill Program: The thirty-eight-hole diamond drilling program at the Gameta Project carried out in March until August 2021 was designed to test the continuity of mineralisation and to increase confidence in historical assay results within the inferred resource envelope from drilling conducted in the mid-1990’s.

The drilling was focused on the northern third (“the northern ore zone”) of the known resources with a strike extent of over 700m being tested (note the resource zone itself occurs over a strike interval of 2,000m).

Testing targeted the shallower open-pitable material, with drilling generally less than 120m and aimed to provide confirmatory data to support the results from historical RC drilling programs ahead of a resource upgrade which occurred in Q3 2021.

Some extensional drilling was also part of the program, testing below, down dip and along strike from known resources, this work confirmed the resource was open both down dip and along strike.

2022 Metallurgical Program: Several samples were selected for the 2022 preliminary metallurgical test-work program as reported in this announcement.

Adyton approached Core Metallurgy to provide test work on three coarse reject samples and metallurgical development support. The primary goal of the initial works was to establish whether all the ore types are amendable to flotation with a potential flowsheet option being to produce a saleable concentrate. The work programme will also confirm whether the ores are of a refractory nature and what flowsheet options may be applicable for the deposit.

Tim Crossley, Chief Executive Officer

For further information please contact:

Tim Crossley, Chief Executive Officer E‐mail: tcrossley@adtyonresources.com Phone: +61 7 3854 2389

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 for copper and gold. The Company’s mineral exploration projects are located on the Pacific Ring of Fire which hosts several world class copper and gold deposits. Adyton’s current gold resource inventory is more than 2M Oz.

Adyton was formed by a reverse takeover transaction completed with XIB I Capital Corporation on February 17, 2021 and commenced trading on the TSX Venture Exchange under the symbol “ADY” on February 24, 2021.

Adyton is also quoted on the Frankfurt Stock Exchange under the code 701: GR.

For more information about Adyton and its projects, visit www.adytonresources.com.

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/49a0588b-943b-435c-be74-535df6cf1fba

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 ("NI 43‐101"). Mr. Watt consents to the inclusion of his name in this release. Mr Watt verified the data disclosed in this press release in accordance with industry standard best practices, including sampling, analytical, and test data underlying the information or opinions contained herein.”

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 plans for additional drill testing, the intention to prepare additional technical studies, the timing of additional drill results, and the preparation of a resource upgrade in Q3 2021. 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 caused by the Covid‐19 coronavirus outbreak, 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.

In this article we are going to estimate the intrinsic value of Encompass Health Corporation ( NYSE:EHC ) by taking the...

What are the early trends we should look for to identify a stock that could multiply in value over the long term...

Today we will run through one way of estimating the intrinsic value of Repligen Corporation ( NASDAQ:RGEN ) by taking...

It hasn't been the best quarter for Build-A-Bear Workshop, Inc. ( NYSE:BBW ) shareholders, since the share price has...

The Dow Jones rallied amid encouraging inflation data. Tesla stock jumped even as CEO Elon Musk issued a warning. Apple stock surged.

Stop investing in mediocre businesses. Buy the best, instead.

Julian Bridgen, co-founder and president of Macro Intelligence 2 Partners, joins Yahoo Finance Live to discuss this week's market action and whether or not it will carry over into next week, the Fed, and inflation.

Ulta shares are up after its big Q1 earnings beat, Aurora Cannabis increased its finance deal to $150 million, and Blackberry stock is surging after news of its partnership with Google.

Risk and reward are the yin and yang of stock trading, the two opposite but essential ingredients in every market success. And there are no stocks that better embody both sides – the risk factors and the reward potentials – than penny stocks. These equities, priced below $5 per share, typically offer high upside potentials. Even a small gain in share price – just a few cents – quickly translates into a high yield return. Of course, the risk is real, too; not every penny stock is going to show th

In this article, we discuss the 10 stocks that Jim Cramer and hedge funds agree on. If you want to read about some more stocks that Jim Cramer and hedge funds agree on, go directly to Jim Cramer and Hedge Funds Agree on These 5 Stocks. In the past few weeks, Jim Cramer, the journalist […]

As of 12:24 p.m. ET, Aurora shares were still down 38.8%. At the same time, Tilray (NASDAQ: TLRY) shares were down 3.6%, and Hexo (NASDAQ: HEXO) stock was down 5.3%. The plunge in Aurora shares comes as existing shareholders react to a new round of financing that the company said will bring $150 million to the company.

The stock market selloff has made many stocks look cheap—but smart investors need to be selective. Here are six high-quality companies that trade at reasonable valuations.

Despite all the attention that renewable energy companies get, having operations in the renewable energy space alone does not make a stock a buy. In fact, several renewable energy companies are struggling just to stay profitable. Let's discuss two renewable energy stocks that look attractive right now, and one that's best avoided.

Let's begin today's review with Livent, which has the most obvious good news powering its rally. Early this morning, Livent announced that it will collaborate with electric air-taxi start-up Lilium N.V. (NASDAQ: LILM) to jointly develop new lithium metal technology for use in high-performance battery cells.

In this article, we will discuss some of the notable stocks analysts are upgrading today. To take a look at some more stocks that are being upgraded, go to Analysts Are Upgrading These 5 Stocks on Friday. The US market closed in the green for the first time in the last seven weeks as positive […]

In this article, we will look at 10 undervalued stocks to buy according to billionaire Leon Cooperman. If you want to skip reading about Leon Cooperman’s early life, investment philosophy, and his hedge fund’s performance, you can go directly to 5 Undervalued Stocks to Buy According to Billionaire Leon Cooperman. Leon Cooperman is an American […]

The stock market is a game of risk and calculation, and in recent months the risks are mounting. The first quarter of 2022 showed a net negative GDP growth rate, a contraction of 1.4%; another contraction in Q2 will indicate a recession. Wall Street’s experts are trying to look ahead, to see through the fog of uncertainty and get some feel for where things are going. Covering the market for Morgan Stanley, chief US equity strategist Michael Wilson believes that we’ll dodge the recession bullet –

(Bloomberg) -- Crypto had another bad week -- and it may only get weirder.Most Read from BloombergFord Beats Tesla to the Punch With First Electric F-150 DeliveryRussian Wins in Eastern Ukraine Spark Debate Over Course of WarStocks Notch Their Best Week Since November 2020: Markets WrapZilingo’s Fired CEO Responds to Questions of Mystery PaymentsUkraine Latest: US Slams Putin’s Food-for-Sanctions Relief PlanBitcoin led a decline in digital assets across the whole crypto spectrum, with the world’

Lisa Erickson, U.S. Bank SVP & Public Markets Group Co-Head, and Sizemore Capital Management CIO Charles Sizemore join Yahoo Finance Live to discuss the stock market rising to end a 7-week losing streak, inflation, GDP, the Fed's interest rate hikes, recession concerns, and the outlook on tech.

Shareholders in Amazon (NASDAQ: AMZN) beat a rising market on Friday morning, with shares gaining 3% by 10:45 a.m. ET compared to a 1.4% boost in the S&P 500. The rally was powered by a brightening outlook around economic growth and consumer spending. A major factor driving Amazon's stock higher on Friday was the boost in the wider tech world.