Athena Gold Corporation (CSE:ATHA | OTCQB:AHNRD) has provided updates on its fully funded diamond drilling program that commenced on 2 April 2026, having successfully drilled the first hole to its target depth of 336m and intersected broad zones of prospective sulphide mineralisation.
The maiden drilling program is taking place at the company’s flagship Laird Lake project in the Red Lake Gold District of Ontario, Canada.
Maiden drilling validates geological model
CEO Koby Kushner says that the early visual results are “incredibly exciting”.
Core logging has identified a shallow, broad package that is about 179m wide of variably mineralised banded iron formation (BIF) and mafic volcanic rocks in the Balmer Formation.
The company says that the intersection of the sulphide mineralised BIF target at the same area where historical SkyTEM magnetic and electromagnetic data predicted, provides them with strong validation of the geological model.
Core from this initial hole is being prepared for assaying now.
“The presence of sulphide minerals within banded iron formation, at the heart of the G1 anomaly, is the right step towards a new discovery in Red Lake,” Kushner says.
“Additional results from other never-before-tested targets are eagerly anticipated. To accelerate the next phase of exploration, the initial rig is being replaced with a larger drill at Laird Lake, allowing for a more aggressive test of deeper geophysical anomalies.”
The G1 anomaly has no historical drilling or documented gold occurrences, however, during Athena’s 2025 field program the company located a series of long undocumented historical trenches in the area. Reconnaissance sampling from that program returned elevated gold within BIF.
The company believes that the G1 area represents a new target zone for the project.
With the larger drill rig being mobilised to the site, deeper high-priority targets are being planned for the east side of Laird Lake, including at the Balmer Assemblage and the Confederation Assemblage.
Athena Gold Corporation is focused on mineral exploration and the acquisition of mineral assets with a goal of locating and developing precious metals and base metals properties in North America.
Write to Amy Rotman at Mining.com.au
Images: Athena Gold Corporation
