Athena Gold (CSE:ATHA) has highlighted the expansion potential of its Excelsior Springs Project in Nevada, US, following new drilling results from project partner Mammoth Minerals (ASX:M79).
The latest results cover reverse circulation drilling at the Lunchbox Ridge prospect, located about 700m along strike from the extensively drilled Buster Mine Zone.
Multiple broad, shallow gold intercepts were reported, including 22.9m at 1.37 grams per tonne gold (Au) from 10.7m, including 3m at 4.15g/t Au from 22.9m.
Other results included 12.2m at 1.57g/t Au from 32m, including 4.6m at 3.31g/t Au from 38.1m, and 10.7m at 1.09g/t Au from 164.6m, including 3m at 2.2g/t Au from 167.7m.
Athena says the intercepts demonstrate the potential for the Buster gold system to extend well beyond the main Buster Mine Zone, with mineralisation remaining open along strike and down dip.
The results also support Mammoth’s geological interpretation of multiple mineralised structures potentially feeding gold into favourable host horizons, providing additional targets for drilling.
“Following these latest results, we are reviewing the potential scope to increase the scale of gold mineralisation across the expanded strike length, with the potential to rapidly add ounces in areas outside the Buster Mine Zone, which have seen minimal drilling,” Mammoth Managing Director Glenn Poole says.
Mammoth has also begun drilling at the Blue Dick silver prospect, where five holes totalling 1,100m have been completed, targeting silver-dominant polymetallic mineralisation. Results are expected within three weeks.
Mammoth, formerly known as Firetail Resources, entered the project in mid-2025 and has an option to earn an 80% interest by spending US$5 million ($7.1 million) on exploration over five years.
If the option is exercised, Athena will retain a 20% free-carried interest until the publication of a Definitive Feasibility Study.
The Excelsior Springs Project covers 1,574 hectares within Nevada’s Walker Lane district, which has historically produced more than 40 million ounces of gold.
Most historical exploration at Excelsior Springs has focused on the Buster Mine, which produced 19,200 ounces of gold. The remainder of the property is largely underexplored despite widespread alteration and anomalous gold mineralisation in outcrops. Exploration by Athena included detailed geological mapping and sampling.
Athena Gold is a mineral explorer focused on acquiring mineral property assets prospective for precious and base metals.
Write to Jackson Chen at Mining.com.au
Image: Athena Gold
