- Athena Gold Corporation (ATHA) acquires a new prospect in Nevada, and completes drilling at its Excelsior Springs Project
- The 2022 Excelsior Springs program drilled 11 holes to help prove it is gold-bearing
- Athena Gold is expecting the assay results sometime next month
- Crow Springs South project was acquired due to its location in a structural belt
- A survey showed it had an untested magnetic anomaly could hold a large-scale porphyry copper-gold target
- Athena Gold Corporation (ATHA) is unchanged trading at $0.07 per share as of 2:12 p.m. ET
Athena Gold Corporation (ATHA) has acquired the Crow Springs South Project in Nevada and has completed drilling at its Excelsior Springs Project.
The company’s 2022 Excelsior Springs program set out to delineate and expand known mineralization along strike, test target areas, and prove the project is a gold-bearing system.
11 holes were completed last month ranging from depths of 350 to 900 feet for a total of 5,575 feet. Athena Gold is expecting the assay results sometime next month.
John Power, Athena Gold’s President and CEO commented on the news.
“We remain focused on our flagship Excelsior Springs Gold project but are excited to acquire a drill-ready porphyry copper gold molybdenum target in a Tier One jurisdiction to diversify our portfolio and build accretive value for our shareholders,”
The Crow Spring South Project comes with 11 unpatented lode claims which were acquired through staking and a lease with an independent geologist.
According to Athena Gold, the project was acquired due to its location in a structural belt which shows potential to hold a prospective deposit. The claims are in the Crow Springs Mining District which previously produced gold, copper, molybdenum, and turquoise.
“The Crow Springs District is the site of many mineralization types and there is a strong geological argument for a concealed porphyry, and significant molybdenum shows have been found… the district contains high potential quartz monzonite porphyry, which has received minimal exploration focus to date and we look forward to the advancement of our [Crow Springs South] project and the entire Crow Springs District,” Power said.
A survey over Crow Springs South completed last year indicated that an untested magnetic anomaly could hold a large-scale porphyry copper-gold target.
Athena Gold Corporation (ATHA) is unchanged trading at $0.07 per share as of 2:12 p.m. ET.