Athena Gold Corporation has released developments regarding its exploration initiatives at the Excelsior Springs Project in Nevada and the Laird Lake Project in Ontario. The company, listed on both the Canadian Securities Exchange and OTC Markets, is actively engaged in advancing its mineral exploration efforts.
Mammoth Minerals Limited is currently undertaking aggressive exploration at the Excelsior Springs Project, as part of an option agreement aimed at securing an 80% interest in the venture over five years. This exploration path provides Athena with an opportunity for a free carry to a Definitive Feasibility Study following Mammoth's successful outcomes.
Recently, notable assay results have emerged from Mammoth's diamond drilling program at the Buster Trend. High-grade gold intercepts have been recorded, supporting previous findings. Some key results include:
6.32m at 2.10 g/t Au from a depth of 26m.
14.0m at 0.99 g/t Au from a depth of 28.5m.
0.71m at 15.76 g/t Au from a depth of 74.3m.
These results may indicate a large-scale Carlin-type gold mineralization system at the site, prompting a strategic shift towards targeting this specific geological form. Currently, reverse circulation drilling has begun across the Buster Trend, with results anticipated in the coming weeks.
The Laird Lake Project, located in Ontario's Red Lake Gold Camp, is set for a substantial exploration program consisting of approximately 5,000 meters across eight drill holes. This initiative aims to utilize historical magnetic and electromagnetic data to improve target accuracy ahead of drilling activities.
Although Athena has encountered delays in obtaining necessary permits—submitted in September 2025—the company remains committed to progressing this project. Ongoing engagement with stakeholders and regulatory bodies is a priority, with expectations to begin drilling once the permits are secured.
Athena Gold Corporation recently announced an exploration update from its Excelsior Springs Project in Nevada and Laird Lake Project in Ontario. Notably, significant high-grade gold intercepts have been reported from ongoing drilling at the Excelsior Springs Project, reflecting a positive indication of the project's potential.
Mammoth Minerals is actively exploring the Excelsior Springs Project under an option agreement to earn an 80% interest over five years. This allows Athena a free-carry to a Definitive Feasibility Study thereafter, positioning Athena to benefit from any successful outcomes of Mammoth's exploration efforts.
Recent assay results from the maiden diamond drilling program at the Buster Trend have shown shallow high-grade gold intercepts, with notable values such as 6.32m @ 2.10 g/t Au and 14.0m @ 0.99 g/t Au. These results suggest the presence of a large-scale gold system, likely enhancing the project's overall attractiveness.
Athena is preparing for a significant 5,000m diamond drilling programme at the Laird Lake Project, leveraging historical data to refine drilling targets. The project is positioned in a renowned gold district, which provides an encouraging backdrop for potential discoveries.
Athena is currently experiencing delays in the permitting process for the Laird Lake Project. However, the company remains optimistic about receiving the necessary permits soon, which indicates a proactive approach in advancing the project.
With over 5% ownership in Mammoth Minerals, Athena Gold stands to benefit from any successful exploration results from the Excelsior Springs Project. This equity stake enhances Athena's financial positioning while allowing the company to share in potential upside from Mammoth's activities.
The Blue Dick Zone has shown promising results, with high silver and gold assays reported. This expansion of the mineralised trend suggests the potential for multiple untested parallel trends, enhancing the overall value proposition of the Excelsior Springs Project.
The reference to a 'Carlin-style mineral system' indicates that the geological characteristics identified at the Buster Trend are akin to those found in significant gold deposits in Nevada. This suggests a potentially vast and commercially viable mineral resource, bolstering confidence in the project's future.