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11 March 2022
COMPANY ANNOUNCEMENT
MOONBOROUGH DRILLING UPDATE
COPPER SULPHIDES AND PGE's INTERSECTED IN RC DRILLING
Further to the completion of the base metal drilling announcement on 19 October 2021, Athena Resources Limited ("Company") is pleased to announce the preliminary assay results from the Moonborough Intrusion. Study works include lithological logging, cross-sectional interpretation, thin section petrology and XRD scanning and assay results.
Highly encouraging copper and PGE results include the following:
AHRC0100: 6m @ 0.32%Cu from 19m, including 1m @ 0.57%Cu, 191ppb Pd, 30ppb Pt from 22m and 3m @ 0.230g/t Au from 21m including 1m @ 0.317g/t Au from 23m. Within a broad zone of
96m @ 708.4ppm Cu from 0m, including 33m @ 0.157% Cu from 0m 40m @ 105ppb 3PGE (Au, Pt, Pd) from 0m
AHRC0101: 1m @ 0.39%Cu from 58m, including 0.5m @ 0.62% Cu, 0.28g/t Au, 150 ppb Pd, 50ppb Pt from 58.5m in AHRC0101, within a broad zone of
35m @ 555.9ppm Cu from 46m, including 9m @ 0.111% Cu from 55m
71m @ 62ppb 3PGE (Pd, Pt, Au) from 10m
Including 20m @ 111.5ppb 3PGE (Pd, Pt, Au) from 55m
AHRC0106: | 18m | @ 487.95 ppm Cu from 0m |
36m | @ 61.36 ppb 3PGE (Pd, Pt, Au) from 0m |
Including 14m @ 95ppb 3PGE (Pd, Pt, Au) from 0m
- The northern gabbro within the Moonborough Intrusion is more extensive than previously mapped. It thickens, plunges and is open to the northwest.
- Xray Diffraction analysis, (XRD), was completed on a small sample of drill cuttings from Moonborough. XRD results imply the gabbro assemblage contains two phases, a non- mineralized calcic amphibole phase and a mineralised pyroxene gabbro phase. It is interpreted as a result of a series of magma pulses differentiated by variable geochemistry from a deep magma source, similar to the emplacement of economic layered intrusions in similar tectonic environments.
- Thin section petrology has confirmed that the disseminated ores within the mineralized pyroxene lens comprise of bornite (Cu), chalcopyrite (Cu), and ilmenite (Ti).
Athena Resources Limited
Level 3 І 101 St Georges Terrace І Perth І Western Australia І 6000 PO Box 2704 І Perth І Western Australia І 6001 Ph +61 411 649 551 E joe@pathwayscorporate.com.au W athenaresources.com.au
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The northern gabbro within the Moonborough Intrusion is more extensive than previously mapped. The gabbro unit may extend as far as 5 kilometres', it thickens, plunges and is open to the northwest. The broad geochemistry identified from drilling is highly prospective. Preliminary logging indicates development of the intrusive included a pulse forming a pyroxene lens within the amphibole gabbro body.
Figure 1. Interpretation of extent of the Moonborough Intrusion on mag imagery
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Table 1. Moonborough RC Significant copper intercepts
Hole ID | From | To | Interval | Cu | Hole | Easting | Northing | RL | Dip | Azimuth | Depth | ||||||||||||||||||||||||
(m) | (m) | (m) | (ppm) | Type | MGA | MGA | (mag) | (m) | |||||||||||||||||||||||||||
AHRC0100 | 0 | 96 | 96 | 708.4 | RC | 415684 | 7117164 | 328 | -60 | 130 | 108 | ||||||||||||||||||||||||
including | 0 | 33 | 33 | 1573 | |||||||||||||||||||||||||||||||
including | 18 | 24 | 6 | 3,204.6 | |||||||||||||||||||||||||||||||
AHRC0101 | 46 | 81 | 35 | 555.9 | RC | 415793 | 7117271 | 326 | -60 | 125 | 150 | ||||||||||||||||||||||||
including | 55 | 64 | 9 | 1,106.6 | |||||||||||||||||||||||||||||||
AHRC0106 | 0 | 18 | 18 | 488 | RC | 415922 | 7117179 | 324 | -60 | 125 | 150 | ||||||||||||||||||||||||
Note: Copper intersections use a 300ppm cut-off.
Table 2. Moonborough RC Significant PGE intercepts
Hole ID | From | To | Interval | 3PGE | Hole | Easting | Northing | RL | Dip | Azimuth | Depth | ||||||||||||||||||||||||
(m) | (m) | (m) | (ppb) | Type | MGA | MGA | (mag) | (m) | |||||||||||||||||||||||||||
AHRC0100 | 0 | 40 | 40 | 104.6 | RC | 415684 | 7117164 | 328 | -60 | 125 | 108 | ||||||||||||||||||||||||
including | 20 | 23 | 3 | 371.3 | |||||||||||||||||||||||||||||||
AHRC0101 | 10 | 81 | 71 | 65 | RC | 415793 | 7117271 | 326 | -80 | 125 | 150 | ||||||||||||||||||||||||
including | 55 | 75 | 20 | 121.5 | |||||||||||||||||||||||||||||||
AHRC0106 | 0 | 36 | 36 | 61.4 | RC | 415922 | 7117179 | 324 | -60 | 125 | 150 | ||||||||||||||||||||||||
including | 0 | 14 | 14 | 95.36 | |||||||||||||||||||||||||||||||
Note: 3PGE are AU, Pd, Pt assays combined using a 30ppb cut-off
Area 5 Target (Moonborough)
Drilling Analysis
Three holes were drilled at Area 5 (Figure 2 & Table 1-2) during the October 2021 campaign, AHRC0100, AHRC0101 and AHRC0106. The holes targeting a weak gravity anomaly coincident with a moderate magnetic signature. The three holes followed up historic holes AHRC0021 and AHRC0022 drilled in 2010, targeting the origin of a copper carbonate occurrence within the outcropping gabbro unit at Moonborough (Figure 2). Key findings in each hole are detailed below.
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Area 5 Target - Drilling Plans and Cross-Section Interpretations
Figure 2. Drill Hole Location and Cross Section Lines on mag imagery
Historical Drilling Analysis (included in cross section interpretation)
These drill holes follow up highly anomalous results from historic drilling from 2010. This program included two RC drill holes which resulted in the following highly anomalous Cu, PGE intersections:
AHRC021 | 48m @ 49.1 ppb 3PGE (Pd, Pt, Au) from 0m (Max Pd 80ppb) | |
48m | @ 344.8 ppm Cu from 0m (Max Cu 620ppm) | |
20m | @ 109.6ppm Ni from 28m | |
AHRC022 | 84m | @ 742ppm Cu from 0m |
Including 28m @ 0.155% Cu from 0m | ||
84m | @ 71.71 ppb 3PGE (Pd, Pt, Au) from 0m | |
Including 20m @ 136.6 ppb 3PGE (Pd, Pt, Au) from 8m |
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Figure 3. Oblique Cross Section AA'. (All Coordinates in MGA94 zone 50)
Figure 4. Oblique Cross Section BB'. (All Coordinates in MGA94 zone 50)
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Athena Resources Limited published this content on 10 March 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 10 March 2022 22:21:37 UTC.