Announcement Date: 2023-01-17
Announcement Type: Deposit Estimation
Announcement Code: JORC
Company name: Athena Resources Ltd.
Project name: Byro
Location: Australia
Commodities: Iron,Alumina,Silica
Highlight: Updated Resource Estimate for Project
Resources: only available to subscribers
CP/QP: only available to subscribers
Announcement summary: Athena Resources Limited (“the Company”) are delighted to release the Indicated Mineral Resource Estimate (MRE) to meet 2012 JORC guidelines for the unique Byro FE1 magnetite project prepared by Entech Mining Pty Ltd. The MRE is a keystone achievement for the development of the FE1 project with no further geological drilling required to take the project to mining. The full Material information summary as required under ASX Listing Rule 5.8 and JORC Code (2012) reporting guidelines is attached in Appendix A. The Mineral Resource Statement is as follows: Mineral Resource Statement The Mineral Resource Statement for the Byro FE1 magnetite open pit Mineral Resource Estimate (MRE) was prepared in January 2023 and is reported according to the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves (the ‘JORC Code’) 2012 edition. The MRE includes 29 reverse circulation (RC) drill holes completed during 2010 to 2011. A further four RC drill holes were added in 2022 along with one diamond drill hole (DD), and 10 drill holes with RC pre-collars and diamond core tails. The depth from surface to the current vertical limit of the Mineral Resources is approximately 200 m.
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