Athena Gold Has An Exciting New Gold Discovery In Nevada
Rocks And Stocks News has a new gold discovery in Nevada to introduce to our audience.
One thing I always like to do is find exploration stocks early in their discoveries, especially in Nevada. It is one of the top mining jurisdictions worldwide, not only because it is mining friendly, but also due to its phenomenal geology.
Athena Gold (ATHA.CSE) fits the bill, they are three holes into an exciting new discovery, yet they are still under the radar for many gold exploration investors. They are around 50 miles north of the Bullfrog region of western Nevada where there is a lot of excitement these days as AngloGold Ashanti has been acquiring companies and ground to build mines and are advancing an exceptional discovery at their Silicon project.
What makes the Silicon project so exciting is it has a maiden resource of 3.4 million ounces in an oxide gold discovery. At Athena Gold’s Excelsior Springs project they are looking at the beginning of an oxide gold discovery with high-grade gold close to the surface.
Their hole DB-23 hit 10.66m of 15.3 g/t gold in their summer drilling program. They followed that up with two holes beside it with excellent results as well. Hole DH 22-01 hit two important intercepts. At 39.5m it hit 10.2 g/t gold and 30.8 g/t silver over 10.7m, and at 77.7m they hit 4.97 g/t gold and 14.4 g/t over 13.7m. To the west of DB-23 and DH 22-01 is DH 22-02, at 41.1m they hit 7.29 g/t gold and 44.2 g/t silver over 9.1m in that hole.
The cross section above shows very good gold distribution in the holes, and on hole DH 22-01 they were still in mineralization at the end of the hole. Although only a few holes into this new discovery it is starting out on a strong path.
The red star in the map above is where they hit the three holes. In close proximity to the northwest is a large geophysical anomaly that it could be associated with. Another interesting anomaly is near where two structures come together in the southwest corner of their claim block.
I recently did an interview with their CEO and he mentioned they plan on increasing the size of the geophysical grid which will help enhance the geophysical anomalies. So far, there is an interesting structural and geophysical story developing that could help them target where to find the source of the gold they have hit.
In addition to the gold hits it also has silver and sniffs of copper, lead and zinc as well. The project has sizable geophysical anomalies associated with an interesting structural story. This is shaping up to be an excellent discovery that I think will evolve into something much bigger.
It is checking all the boxes I look for in a new discovery, yet Athena Gold still has a modest valuation.
In Closing
Athena Gold is a sponsor of my reports, I have done an interview with their CEO on my Youtube Channel.
As always my reports are for research only, before making any investment decisions you should speak with your financial advisors and do your homework. A good place to start your homework on the companies I follow is on my Youtube Channel. Then check out their websites where you should look at their news releases and corporate presentations.
All the best,
Allan Barry Laboucan
Founder
Rocks And Stocks News