Athena Gold Company (CSE:ATHA)(OTCQB:AHNR) (“Athena” or the “Firm”) is happy to report high-grade gold and silver samples from its first-ever underground mapping and sampling program at its flagship Excelsior Springs undertaking in Nevada’s prolific Walker Lane Development. 5 samples had been collected underground from the past-producing Buster Mine, which traditionally produced an estimated 19,200 oz Au at a median grade of 41.1 g/t Au. Two of those samples returned high-grade Au, together with:
- 50.6 g/t Au and 33.7 g/t Ag over 0.3 m, from the 75′ degree; and,
- 28.1 g/t Au and 29.6 g/t Ag over 1.0 m, from the 125′ degree.
The reconnaissance program carried out in August 2024 represents Athena’s first-time underground on the Buster Mine, offering a possibility for the staff to have a close-up take a look at the mineralized orebody and acquire a greater understanding of structural controls at Excelsior. Historic sampling included 4 samples which exceeded the higher detection restrict of 10 g/t Au; nevertheless, these had been by no means analyzed to completion. The geologist who collected the floor and underground samples on the Buster Mine in 1986 estimated a mineralized zone containing a historic mineral stock of as much as 200,000 oz Au inside a shallow depth of 61 m. This estimate is historic in nature and shouldn’t be relied upon as a present mineral useful resource. A professional particular person has not accomplished ample work to categorise the historic estimate as present mineral sources or mineral reserves.
“We’re happy to see sampling outcomes affirm the high-grade nature of the epithermal veins on the historic Buster Mine. As well as, we now have a significantly better understanding of structural controls on mineralization at Excelsior, which ought to bode properly for planning our upcoming drill program” said John Energy, President & CEO of Athena Gold. “Resulting from small stoping dimensions and unsure floor situations, we had been unable to pattern over broader zones – nevertheless, now we have purpose to imagine that high-grade, vein-hosted mineralization ‘bleeds’ into the host rock as evidenced by earlier drilling at Excelsior. The Buster Mine space is positioned 400 meters from the Western Slope Zone the place our latest RC drill campaigns returned a number of spectacular intercepts together with as much as 5.2 g/t Au over 33 m. Importantly, the geochemistry at Buster and the Western Slope Zone seem very related, offering proof that each mineralized zones could also be a part of the identical system, and opens up the potential for a bigger, mineralized system connecting these two zones.“
Two distinct structural orientations had been noticed and believed to be controlling mineralization, each east-west placing. The primary may be very steeply north dipping and yielded 50.6 g/t Au over 0.3 m (Determine 1). This pattern was collected close to the japanese stope on the 75′ degree, the place historic sampling returned 5.8 g/t Au over 1.07 m. Traditionally, the higher-grade samples which exceeded the ten g/t Au detection restrict had been collected from the western stope on the 75′ degree. A lot of the previous manufacturing occurred inside the western stope, which extends from close to floor to the 125′ degree.
On the 125′ degree, a shallow 35° north dipping fault zone yielded 28.1 g/t Au over 1.0 m (Determine 2). The steeper buildings recognized on the 75′ degree seem like lower by this youthful, shallow construction.
This work program demonstrated the necessary position these shallow buildings, which might be traced on floor, play within the management of mineralization at Excelsior Springs. Further floor and underground mapping will likely be carried out to higher perceive the distribution and extent of mineralization alongside these buildings to higher goal future drilling.
Determine 1: Plan map of the historic Buster Mine, 75′ degree.
Determine 2: {Photograph} of 125′ Stage at Buster Mine, displaying pattern location and recognized buildings, wanting east.
In regards to the Buster Mine
The Buster Mine is positioned on the Fortunatus patented declare owned by Athena and is an integral a part of our flagship Excelsior Springs Undertaking.
Mineralization on the Buster Mine was found in 1872 and has been by means of a number of intervals of small-scale mining and exploration efforts. Through the late 1800s and maybe the early 1900s there was unconfirmed reported manufacturing from the Buster Mine of an estimated 19,200 oz Au at a median grade of 41.1 g/t Au.
The Buster Shaft is 235′ deep, with workings on the 75′, 125′, and 175′ ranges. It’s estimated there may be roughly 1,540′ of accessible workings, most of that are on the 75′ and 125′ ranges.
Technical Data
The information disclosed on this information launch contains historic exploration sampling outcomes. The reader is cautioned that the historic outcomes are based mostly on prior knowledge and stories ready by earlier property house owners and different sources. Athena has not independently analyzed the outcomes of the historic exploration work to confirm the outcomes. The reader is cautioned to not deal with them, or any a part of them, as present and {that a} certified particular person has not accomplished ample work to confirm the outcomes and that they could not type a dependable information to future outcomes. No impartial QA/QC protocols are recognized for these samples and as such analytical outcomes could also be unreliable. Athena’s present and future exploration work contains verification of the historic knowledge by means of additional exploration.
QA/QC
Pattern preparation and gold evaluation was carried out by ALS World in Reno, Nevada. Rock samples had been analyzed for gold and 50 different components by inductively coupled plasma adopted by mass spectrometry (ME-MS41) and gold by 30-gram hearth assay adopted by atomic absorption (Au-AA23). Gold over limits had been decided by a gravimetric technique (Au-GRA21).
Certified Particular person
Technical info on this information launch has been reviewed and accredited by Matthew R. Dumala, P.Eng., a geological engineer with Archer, Cathro & Associates (1981) Restricted and a certified particular person for the needs of Nationwide Instrument 43-101.
About Our Flagship Excelsior Springs Undertaking
The Excelsior Springs Undertaking (the “Undertaking”) lies inside the prolific Walker Lane tectonic pattern, a big area of northwest-trending, strike-slip fault zones that host a major variety of treasured steel deposits having very sturdy structural management for mineralization. The Walker Lane pattern is experiencing a serious resurgence of intense and profitable exploration and improvement.
The Undertaking incorporates quite a few prospect pits, trenches, roads, floor sampling websites and 113 drill holes to this point inside a 300m X 3,000m broad (1,000 foot-wide and 10,000-foot-long east-west trending zone of shearing and alteration. Underground workings on the 2 patented claims inside the Undertaking had unverified, historic manufacturing of 19,200 oz at 41.1 g/t Au.
Gold mineralization found on the Undertaking to this point happens in quartz veins, stock-works, and silicified zones in hornfels and calc-silicate altered nation rock and is mostly near porphyry dykes. The most effective grades and thicknesses found lately had been present in oxidized and altered sedimentary rock instantly above porphyry dykes intruded alongside preexisting east- and east-northeast trending faults. The mineralized stock-work vein zones are shallow and have a comparatively flat plunge, making them doubtlessly amenable to open pit mining strategies.
Primarily based on the outcomes of earlier drilling packages, the Undertaking has the potential to host a number of shallow gold deposits amenable to open pit mining, together with deeper, greater grade feeder zones that could be discovered and could possibly be mined by underground strategies. Within the opinion of administration and its consultants, the Undertaking may be very promising and additional exploration has the potential to increase the recognized mineralization and set up further mineralized zones.
About Athena Gold Company
Athena is engaged within the enterprise of mineral exploration and the acquisition of mineral property belongings. Its goal is to find and develop financial treasured and base steel properties of advantage and to conduct further exploration drilling and research on the Undertaking.
For additional details about Athena Gold Company and our Excelsior Springs Gold undertaking, please go to www.athenagoldcorp.com.
On Behalf of the Board of Administrators
John C. Energy
Chief Govt Officer and President
For additional info, please contact:
John C. Energy
E mail: johnpower@athenagoldcorp.com
Jason Libenson
President and CCO
Castlewood Capital Company
Telephone: (647)-534-9884
E mail: jason@castlewoodcapital.ca
Ahead Wanting Statements
This press launch incorporates forward-looking statements and forward-looking info (collectively, “forward-looking statements”) inside the which means of relevant Canadian and U.S. securities legal guidelines. All statements, apart from statements of historic reality, included herein together with, with out limitation, statements concerning future exploration plans and the completion of a part 2 drill program on the Undertaking, future outcomes from exploration, and the anticipated enterprise plans and timing of future actions of the Firm, are forward-looking statements. Though the Firm believes that such statements are affordable, it can provide no assurance that such expectations will show to be appropriate. Ahead-looking statements are usually recognized by phrases corresponding to: “believes”, “will”, “expects”, “anticipates”, “intends”, “estimates”, “plans”, “might”, “ought to”, “potential”, “scheduled”, or variations of such phrases and phrases and related expressions, which, by their nature, consult with future occasions or outcomes that will, might, would, may or will happen or be taken or achieved. In making the forward-looking statements on this press launch, the Firm has utilized a number of materials assumptions, together with with out limitation, that there will likely be investor curiosity in future financings, market fundamentals will lead to sustained treasured metals demand and costs, the receipt of any crucial permits, licenses and regulatory approvals in reference to the long run exploration and improvement of the Firm’s tasks in a well timed method, QAQC procedures on the Undertaking had been adopted, the provision of financing on appropriate phrases for the exploration and improvement of the Firm’s tasks and the Firm’s means to adjust to environmental, well being and security legal guidelines.
The Firm cautions buyers that any forward-looking statements by the Firm aren’t ensures of future outcomes or efficiency, and that precise outcomes might differ materially from these in forward-looking statements because of varied elements, together with, working and technical difficulties in reference to mineral exploration and improvement actions, precise outcomes of exploration actions, the estimation or realization of mineral reserves and mineral sources, the shortcoming of the Firm to acquire the mandatory financing required to conduct its enterprise and affairs, as at present contemplated, the timing and quantity of estimated future manufacturing, the prices of manufacturing, capital expenditures, the prices and timing of the event of latest deposits, necessities for added capital, future costs of treasured metals, adjustments on the whole financial situations, adjustments within the monetary markets and within the demand and market value for commodities, lack of investor curiosity in future financings, accidents, labor disputes and different dangers of the mining business, delays in acquiring governmental approvals, permits or financing or within the completion of improvement or building actions, dangers referring to epidemics or pandemics corresponding to COVID-19, together with the impression of COVID-19 on the Firm’s enterprise, monetary situation and outcomes of operations, adjustments in legal guidelines, rules and insurance policies affecting mining operations, title disputes, the shortcoming of the Firm to acquire any crucial permits, consents, approvals or authorizations, together with of the Canadian Securities Change, the timing and attainable final result of any pending litigation, environmental points and liabilities, and different elements and dangers which might be mentioned within the Firm’s periodic filings with the SEC and disclosed within the closing lengthy type prospectus of the Firm dated August 31, 2021.
Readers are cautioned to not place undue reliance on forward-looking statements. The Firm undertakes no obligation to replace any of the forward-looking statements on this press launch or included by reference herein, besides as in any other case.
