Highlights:
- Further sampling of floor seize samples taken on the Laird Lake undertaking in October 2024 confirmed mineralization over 2.2 km of strike size alongside the contact between the Balmer and Confederation Assemblages (Determine 1). Mineralization is open alongside strike to the east and west.
- The Balmer-Confederation contact is believed to be a big structural management for gold mineralization within the Crimson Lake Gold District, with >90% of all gold ever mined within the camp occurring inside roughly 300 m of this contact.
- Thehighest-grade pattern thus far returned 373 g/t Au and was collected from a smoky quartz vein with blebby pyrite, chalcopyrite, and visual gold. This pattern represents the highest-grade gold pattern ever recorded in Laird Lake’s historical past.
- The current reconnaissance prospecting program is predicted to information a property-wide geochemistry survey scheduled to start in H1 2025. The outcomes are anticipated to offer targets for Athena’s preliminary drill program at Laird Lake.
- A lately accomplished MSc. thesis on the Laird Lake undertaking instructed that Laird Lake represents the continuation of the identical mineralized construction discovered at each the Madsen and Starratt-Olsen gold minesi now owned by West Crimson Lake Gold (2.5 Moz past-production, 1.7 Moz indicated, 0.4 Moz inferred)ii and was later displaced so far as 10 km west (Determine 2).
Determine 1: Map of Laird Lake undertaking, exhibiting chosen assays from the October 2024 sampling program.
Determine 2: Map of Laird Lake and Madsen, exhibiting mapped Balmer-Confederation contact and dextral Laird Lake Fault.
Geology:
Gold mineralization noticed at Laird Lake happens in discrete quartz veins hosted in volcanic rock, localized high-strain zones consisting of silicification and disseminated sulfides, and in additional broad zones of strongly deformed banded iron formation as much as 15 m broad characterised by gossan, fine-grained disseminated sulfides, and silicification. Gold-bearing zones exhibit a common east-west orientation and happen in each Balmer and Confederation Assemblage rocks.
Future Drill Testing:
Laird Lake has been topic to solely minimal historic exploration work, primarily as a result of the Balmer-Confederation contact was solely mapped on Laird Lake in current occasions as a part of an MSc. analysis thesis. Athena’s preliminary work packages are targeted on understanding structural controls and potential splays off this contact that will host high-grade gold mineralization.. Athena plans to conduct a property-wide gold-in-till geochemistry program in Spring 2025. Historic, high-resolution airborne magnetic and electromagnetic surveys highlighted a number of potential targets throughout the Balmer Assemblage which have but to be examined and will probably be included in future drilling on the property, along with different targets generated from prospecting and geochemical packages.
About Our Laird Lake Undertaking
The 4,158 ha Laird Lake property is located 20 km to the southwest of the city of Crimson Lake, Ontario. Crimson Lake is a prolific gold mining city in Northwestern Ontario. Importantly, >90% of the gold has come from inside 300 m of the contact between the Balmer and Confederation Assemblages. The Laird Lake property is taken into account underexplored for gold, relative to a lot of the encompassing Crimson Lake Greenstone Belt, regardless of possessing greater than 10 km of strike size of the identified gold-bearing contact between Balmer and Confederation Assemblage rocks. Additionally necessary is being close to a number of main gold manufacturing and exploration websites within the area:
- 34km to the Nice Bear undertaking (Kinross – 2.7 Moz indicated, and three.9 Moz inferred)iii;
- 11 km to the Madsen Mine (West Crimson Lake Gold – 1.7 Moz indicated, and 0.4 Moz inferred); and
- 28 km to the Crimson Lake Mine (Evolution Mining – 7.2 Moz indicated, and 4.5 Moz inferred)iv.
Restricted exploration exercise at Laird Lake has demonstrated that high-grade gold mineralization happens in each Balmer and Confederation Assemblage rocks over a number of kilometers in proximity to the primary Balmer-Confederation contact. The best gold grades on the property present a robust correlation to high-strain zones characterised by the presence of silicification, disseminated sulfides, and gossan. The Laird Lake property is dominated by mafic to ultramafic metavolcanic rocks in addition to lesser banded iron formation and felsic to intermediate metavolcanic rocks of the Balmer and Confederation Assemblages. Felsic to ultramafic intrusive items are additionally current all through the property, most notably of which embrace the Killala-Baird Batholith to the north, and the Medication Stone Lake Batholith to the south.
QA/QC
Analytical work for rock samples was accomplished by ALS Laboratories, and pattern preparation and geochemical analyses had been accomplished in Thunder Bay, Ontario. Samples had been crushed earlier than a 250-gram cut up was pulverized to raised than 85%, passing 75 microns. Rock samples had been analyzed for gold by fireplace assay utilizing a 50-gram cost with an atomic absorption spectroscopy end. If assay outcomes exceed 10.0 g/t gold, the pattern rejects are analyzed by 50-gram fireplace assay with a gravimetric end. Sampling and analytical procedures are topic to a High quality Assurance and High quality Management program that features duplicate samples and analytical requirements.
Certified Particular person
Technical data on this information launch has been reviewed and permitted by Benjamin Kuzmich, P.Geo., a geoscientist and certified individual for the needs of Nationwide Instrument 43-101.
About Athena Gold Company
Athena is engaged within the enterprise of mineral exploration and the acquisition of mineral property property. Its goal is to find and develop financial treasured and base steel properties of advantage and to conduct further exploration drilling and research on its tasks throughout North America.
Athena’s flagship Excelsior Springs Au-Ag undertaking is positioned within the prolific Walker Lane Development in Nevada. Excelsior Springs spans 1,675 ha and covers not less than three historic mines alongside the Palmetto Mountain development, the place the Firm is following up on a current shallow oxide gold discovery, with drill outcomes together with 5.2 g/t Au over 33 m.
The Firm’s new Laird Lake undertaking is located within the Crimson Lake Gold District of Ontario, masking 4,158 hectares alongside greater than 10 km of the Balmer-Confederation Assemblage contact, the place current floor sampling outcomes returned as much as 56.5 g/t Au. This underexplored space is road-accessible, positioned about 10 km west of the Madsen mine by West Crimson Lake Gold Mines and 34 km northwest of Kinross Gold’s Nice Bear undertaking.
For additional details about Athena Gold Company, please go to www.athenagoldcorp.com.
On Behalf of the Board of Administrators
John C. Energy
Chief Govt Officer and President
Electronic mail: johnpower@athenagoldcorp.com
Contact:
CHF Capital Markets
Cathy Hume, CEO
Telephone: 416-868-1079 x 251
Electronic mail: cathy@chfir.com
Ahead-Wanting Statements
This press launch comprises forward-looking statements and forward-looking data (collectively, “forward-looking statements”) throughout the that means of relevant Canadian and US. Securities legal guidelines. All statements, apart from statements of historic reality, included herein, together with, with out limitation, statements concerning future exploration plans, future outcomes from exploration, and the anticipated enterprise plans and timing of future actions of the Firm, are ahead wanting statements. Though the Firm believes that such statements are affordable, it may give no assurance that such expectations will show right. Ahead-looking statements are usually recognized by phrases corresponding to: “believes”, “will”, “expects”, “anticipates”, “intends”, “estimates”, ”plans”, “could”, “ought to”, ”potential”, “scheduled”, or variations of such phrases and phrases and comparable expressions, which, by their nature, discuss with future occasions or outcomes that will, may, would, would possibly 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 probably 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 longer term exploration and improvement of the Firm’s tasks in a well timed method.
The Firm cautions buyers that any forward-looking statements by the Firm should not ensures of future outcomes or efficiency, and that precise outcomes could differ materially from these in forward-looking statements on account of numerous threat components as disclosed within the last lengthy kind 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.
iGeology and Geochemistry of the Laird Lake Property and Related Gold Mineralization – https://www.lakeheadu.ca/packages/departments/geology/about/msc-theses/summaries/node/47164
iiIndependent NI 43-101 Technical Report and Up to date Mineral Useful resource Estimate – https://westredlakegold.com/wp-content/uploads/2024/04/26Apr24_-_PureGold_Mine_NI_43-101_Technical_Report_-_WRLG.pdf
iiiGreat Bear Gold Undertaking Preliminary Financial Evaluation – https://s2.q4cdn.com/496390694/recordsdata/doc_downloads/2024/09/Great_bear/Kinross-Nice-Bear-PEA-TR-REVISED-FINAL-Sep-9-2024.pdf
ivEvolution Mining Mineral Useful resource and Ore Reserve Assertion, December 2023 – https://evolutionmining.com.au/reservesresources/
