Athena Gold Acquires Porphyry Copper Gold Molybdenum Prospect

Athena Gold Corporation recently reported that it has acquired the porphyry copper gold molybdenum prospect in Esmeralda County, 30 miles northwest of Tonopah, Nevada, USA. The "Crow Springs South" or "CSS" project consists of eleven Bureau of Land Management unpatented claims acquired through a contract with an independent geologist.

The CSS property is located within the Walker Lane structural zone in west-central Nevada and has good potential for porphyry copper-gold-molybdenum deposits. The property is located within the Crow Springs mining district and has been explored and prospected in the past for gold, copper, molybdenum, and turquoise on a limited basis.

Athena Gold's flagship project, the Eastside Gold Project, hosts a large and extended gold resource of over 1 million ounces. Porphyry copper mineralization at CSS is associated with the intense potassic alteration that is locally developed in coarse quartz monzonite porphyry and vibroseis monzonite. Surface rock geochemistry indicates moderate to intense copper-molybdenum-gold mineralization in shallow exposures, allowing for reverse circulation drilling to depths less than 1,500 feet.

A regional-scale airborne magnetic radiometric survey in 2021 indicates typical porphyry potassic alteration associated with an untested magnetic anomaly, and the untested magnetic anomaly suggests a possible porphyry copper-gold target of significant size.

John Power, President, and CEO of Athena Gold commented, "We remain focused on our flagship Excelsior Springs gold project, but are pleased to have acquired a drillable porphyry copper gold molybdenum prospect target in a Tier 1 jurisdiction, diversifying our portfolio and creating potential accretion for our shareholders. "

"The Crow Springs Zone is host to a number of mineralized types, has strong geological arguments for cryptic porphyry, and has identified significant molybdenum showings. A significant area of the district contains high potential quartz monocrystalline porphyry that has received little exploration focus to date and we look forward to advancing our CSS project and the Crow Springs district as a whole," added Power.

In early April 2022, a total of 11 vertical and angled drill holes were completed at depths ranging from 350 to 900 feet for a total length of 5,575 feet on both patented and unpatented properties, including the project. All samples were shipped to an independent laboratory in Reno, Nevada and the Company expects to receive assay results in the next month.

The 2022 drilling program is designed to better delineate and expand known mineralized zones along with the Excelsior Springs project, aggressively test target areas, and further confirm the project as a regional, intrusion-related, gold-bearing hydrothermal system.

Athena is engaged in the business of mineral exploration and acquisition of mineral assets with the objective of finding and developing economically valuable precious and base metal assets and conducting an exploration program on the Excelsior Springs project, located in Esmeralda County, Nevada, approximately 45 miles southwest of Goldfield, Nevada.

• < Prev
• Next >