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Mithril Resources (ASX:MTH) begins drilling at Copalquin
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  • Mayur Resources' (MRL) gold and copper spinout, Adyton Resources, has reported high-grade gold intercepts during drilling at the Gameta Gold Project
  • The company still owns 43 per cent of the spinout, which is listed on the TSX and is focused on exploring Papua New Guinea-based assets
  • Best results from Adyton's diamond drill campaign at Gameta include 27 metres at 4.38 g/t gold including 4.3 metres at 12.3 g/t gold
  • This program is designed to support previous historic drill results from the area, and the company has labelled these first results as exciting
  • Shares in Mayur Resources ended the week up 4.35 per cent at 23 cents per share

Mayur Resources' (MRL) gold and copper spinout, Adyton Resources, has reported several high-grade gold intercepts during drilling at the Gameta Gold Project.

MRL still owns a 43 per cent stake in the spinout, which is listed on the TSX and focused on exploring Mayur's former Papua New Guinea-based assets.

Adyton has been carrying out a 22-hole diamond drilling program at Gameta, which on located on Fergusson Island in PNG.

Results from three holes have now been returned, and best intersections include 27 metres at 4.38 g/t gold, including 4.3 metres at 12.3 g/t gold, in ADD002.

The drill program at Gameta is designed to support previous historic drill results from the area, and the company has labelled the first results as exciting.

"We are excited to report the first assay results from diamond drilling at the Gameta gold project," Adyton CEO Frank Terranova began.

"The results confirm the high-grade assay results from historical RC drilling as well as identifying the potential for a higher-grade core to the existing resource," he added.

"These results increase the confidence and continuity in the existing resource and support our strategy of accelerating technical studies and developing early production scenarios for the Gameta Project," Frank said.

The results from the other 19 holes are expected to be received and released by Adyton in the coming months.

Shares in Mayur Resources ended the week up 4.35 per cent at 23 cents per share.

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