Welcome to our dedicated page for Athena Gold news (Ticker: AHNR), a resource for investors and traders seeking the latest updates and insights on Athena Gold stock.
About Athena Gold Corp
Athena Gold Corporation (OTCQB: AHNR) is a mineral exploration company focused on the discovery and development of precious and base metal deposits across North America. The company is actively engaged in exploring high-potential properties with the aim of identifying economic mineral reserves. Athena's strategic approach combines the acquisition of underexplored assets with the application of modern geological techniques to maximize resource potential.
Flagship Projects
1. Excelsior Springs Project (Nevada, USA): Situated in the prolific Walker Lane Trend, this project spans 1,675 hectares and includes multiple historic mines such as Buster, Lida Belle, and Blue Dick. The region is known for its structural controls on mineralization, hosting significant gold and silver deposits. Recent drilling at Excelsior Springs has uncovered shallow oxide gold mineralization, with results including 5.35 g/t Au over 33.5 meters. The project shows potential for both open-pit mining of shallow deposits and underground mining of deeper feeder zones.
2. Laird Lake Project (Ontario, Canada): Located in the Red Lake Gold District, this 4,158-hectare property covers over 10 kilometers of the Balmer-Confederation Assemblage contact, a geological structure associated with some of the highest-grade gold mines globally. Surface sampling has returned grades as high as 373 g/t Au, highlighting the area's potential for high-grade discoveries. The project benefits from excellent infrastructure and proximity to major operations like Kinross Gold's Great Bear project and West Red Lake Gold's Madsen mine.
Business Model and Strategy
Athena Gold generates value through a focused strategy of acquiring, exploring, and developing mineral properties with high economic potential. By targeting regions with proven geological potential, the company minimizes exploration risk while maximizing opportunities for discovery. Athena's dual-region approach—combining the oxide gold potential of Nevada with the high-grade gold opportunities in Ontario—diversifies its project portfolio and enhances its growth prospects.
Competitive Landscape
Operating within the competitive precious metals exploration industry, Athena Gold differentiates itself through its focus on underexplored properties with significant upside potential. The company leverages historical data, advanced geological modeling, and targeted drilling programs to efficiently identify and expand mineralized zones. Its strategic acquisitions, such as the Blue Dick claims in Nevada and the Laird Lake project in Ontario, further strengthen its competitive position.
Industry Context
The precious metals industry continues to experience robust demand driven by factors such as economic uncertainty, inflationary pressures, and the role of gold and silver as safe-haven assets. Athena's projects are located in mining-friendly jurisdictions with strong infrastructure and regulatory support, aligning with the industry's long-term growth trends.
Future Outlook
With a focus on advancing its flagship projects, Athena Gold is well-positioned to capitalize on the growing demand for precious metals. The company plans to conduct additional drilling and geochemical surveys to expand its resource base and enhance shareholder value. Its commitment to responsible exploration and sustainable development underpins its long-term vision of becoming a significant player in the North American mining sector.
Athena Gold Corporation has successfully completed a non-brokered private placement, raising a total of CAD $1,015,000 through the issuance of 14,500,000 units at CAD $0.07 per Unit. Each Unit comprises one common share and one warrant, with the latter exercisable at CAD $0.10 for two years. The funds will support the 2023 drill program at Athena's Excelsior Springs property in Nevada, known for recent drill results indicating high-grade gold mineralization. Notably, insiders participated significantly, purchasing 7,221,142 units. The company notes that all securities are subject to a hold period and are not registered under U.S. securities laws. Athena aims to advance its mineral exploration projects while navigating the inherent risks associated with mining activities.
Athena Gold Corporation (OTCQB:AHNR) has expanded its Excelsior Springs property by adding 1,000 acres through 51 new BLM claims, increasing its total land package to over 4,000 acres. The company reported significant drill results, including 10.02 Au G/T over 10.7 meters. The new claims will support exploration targets and potential mineralization near the Southwest IP Anomaly. Recent exploration in the Western Slope Zone indicates promising potential for bulk mineable gold deposits. Athena aims for further exploration to identify additional mineralized zones.
Athena Gold Corporation (OTCQB:AHNR) announced significant assay results from its Fall 2022 drill program at the Excelsior Springs Project in Nevada. The program comprised nine drill holes totaling 800 meters. Key findings include:
- DH 22-01 yielded the thickest high-grade gold interval to date with 6.05 g/t Au over 27.4 meters.
- DH 22-02 confirmed extensions of mineralization.
The newly identified Western Slope Zone shows potential for further gold mineralization, with plans for additional drilling in 2023.
Athena Gold Corporation (OTCQB: AHNR) announced an expansion of its Fall 2022 reverse circulation drill program from six to nine holes at the Excelsior Springs Project in Nevada, increasing total footage to 2,700 feet (820 meters). This initiative aims to further define the mineralization identified in a historic drill hole (DB-23), which reported 110 feet of 5.2 g/t Au. The drilling is expected to provide critical insights into the project's mineral potential, with assay results anticipated in Q1 2023.
Athena Gold Corporation (AHNR) has initiated its fall 2022 reverse circulation drill program at the Excelsior Springs Project, aiming for 2,000 feet of drilling across six holes. The Bureau of Land Management has approved the necessary permits. The first three holes will focus on the mineralized zone surrounding the successful discovery hole DB-23, which reported 110 feet of 5.2 g/t Au and 8.9 g/t Ag. Remaining holes will test other high-priority targets, with significant historical intercepts expected to guide future exploration.
Athena Gold Corporation (OTCQB:AHNR) has announced the upsizing of its non-brokered private placement offering to 8,125,000 units at CAD $0.08 each, aiming for total proceeds of CAD $650,000. Each unit comprises one common share and a purchase warrant priced at CAD $0.12, valid for 24 months. Following this, the second tranche closed with 1,737,500 units, raising CAD $139,000, to be used for project exploration and working capital. All units are subject to resale restrictions under U.S. securities laws.
Athena Gold Corporation (OTCQB:AHNR) has completed the acquisition of a 100% interest in the Fortunatus and Prout mining claims, integral to the Excelsior Springs project in Nevada. This comes as the company announces plans for a Phase 2 drill program following a significant discovery hole, DB-23, which reported impressive gold and silver grades. Additionally, Athena closed the first tranche of a private placement, raising CAD $304,800 to support project exploration.
Athena Gold Corporation (OTCQB:AHNR) announced positive assay results from its 2022 RC drill program at the Excelsior Springs Project in Nevada. The program revealed high-grade gold in hole DB-23, with a notable 110-foot intercept averaging 5.15 g/t Au and 8.9 g/t Ag. Specifically, it featured a 55-foot section yielding 10.03 g/t Au. This drill hole boasts the highest Grade x Thickness (G x T) of 566 in the project’s history, indicating significant potential for further mineralization. Future plans include Phase 2 drilling to explore extensions of these findings.
Athena Gold Corporation (OTCQB:AHNR) has completed its second tranche of a non-brokered private placement, raising CAD $325,500 by issuing 4,068,750 units, totaling CAD $500,000 from both tranches. Each unit consists of a common share and a warrant to purchase shares at CAD $0.15 until April 2025. An insider acquired 2,193,750 units for CAD $175,500 under related party transaction exemptions. Proceeds will support exploration and working capital. The Excelsior Springs Project in Nevada covers 3.5 km², historically producing gold, though past estimates may not reflect current mineralization.
FAQ
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