- Athena Resources (AHN) completes infill resource drilling at the FE1 resource within its Byro iron ore project in Western Australia
- The program was undertaken to gain sufficient data to upgrade the resource from the inferred to the indicated category
- Infill drilling comprised 11 reverse circulation (RC) pre collars, 11 diamond tails and three RC drill holes, bringing the total drilling within the resource to 45 holes
- Core cutting and sample preparation is underway to complete whole rock assay and Davis Tube Recovery determinations ahead of the MRE
- Shares in Athena are up 7.1 per cent trading at 1.5 cents at 3:14pm AEST
Athena Resources (AHN) has completed the infill resource drilling program to acquire data sufficient to upgrade the FE1 2004 magnetite Mineral Resource Estimate (MRE).
The FE1 resource is within the company’s Byro iron ore project in Western Australia’s Midwest.
The MRE will be upgraded to a 2012 JORC compliant indicated resource and is considered a strategic development towards the company’s FE1 project feasibility study (PFS) within 2022.
The program was designed in consultation with Entech, to satisfy data gaps required to lift the resource from inferred to the indicated category.
The completion of drilling and preliminary data acquisition is a key component in the development of the Byro magnetite resource with many milestones already completed.
The company had completed 14 Reverse Circulation (RC) holes for 1037.5 metres including 11 diamond tails for 1,305.3 metres.
Several holes were drilled twinning historic holes which is set to fulfill data gaps required by the 2012 JORC code, and define variability within the ore body while extending the modelled block to the west and to a depth of 200 metres.
All logging and preliminary data acquisition has been completed covering lithology and ore domains including detailed geotechnical logging of the diamond core for pit optimisation.
Core cutting and sample preparation is underway to complete whole rock assay and Davis Tube Recovery determinations for the MRE.
Shares in Athena were up 7.1 per cent trading at 1.5 cents at 3:14pm AEST.