Athena Gold Corporation reported that exploration partner Mammoth Minerals Limited has intersected shallow gold mineralization at the Lunchbox Ridge Prospect within the Excelsior Springs Project in Nevada, extending the mineralized system approximately 700 metres along strike from the Buster Mine Zone.

Reverse circulation drilling at the prospect returned key intercepts including 22.9 metres grading 1.37 g/t gold from 10.7 metres, which included a 3.0-metre interval at 4.15 g/t gold in hole MEXRC2635. Additional results included 12.2 metres at 1.57 g/t gold from 32 metres, containing 4.6 metres at 3.31 g/t gold, and 10.7 metres at 1.09 g/t gold from 164.6 metres in hole MEXRC2634.

Mammoth is exploring the project pursuant to an option agreement to earn an 80% interest over five years, providing Athena with a free-carry to a Definitive Feasibility Study thereafter. Athena remains a significant shareholder of Mammoth.

Drilling activity has since shifted to the Blue Dick Silver Prospect, where five holes totaling 1,100 metres have been completed targeting silver-dominant polymetallic mineralization. Assay results from these five completed drill holes are expected within three weeks of August 12, 2026. Reverse circulation drilling is scheduled to continue with a further 24 drill holes planned across multiple mineralized trends over a cumulative strike extent exceeding 6.5 kilometres.

Read the full announcement: Athena Provides Drilling Update from Excelsior Springs, Nevada