Athena Silver Corporation Announces Update On 2011 Drilling Program
BOULDER, Colo., Dec. 21, 2010 (GLOBE NEWSWIRE) -- Athena Silver Corporation (OTCBB:AHNR) announced today a change in the anticipated schedule for its upcoming exploration program on its Langtry property. According to John Power, President & CEO of Athena Silver Corporation, "We are coordinating the schedule of our drilling contractor and working on what we believe to be our final regulatory hurdles necessary to commence the planned drilling program. We are working with the Bureau of Land Management to resolve access issues to support the drilling program. While we cannot predict with certainty a start date, we remain very confident and excited about our planned 2011 drilling program."
Athena's planned drill program consists of 14 holes; 11 vertical holes drilled to depths of between 350' to 575' for a total of 4,825' will attempt to test the results of a much larger historic drilling program conducted by Superior Oil Company; and three angle holes drilled to a depth of 600' that would target veins near historic workings on the property. Superior was an NYSE listed independent American Oil Company acquired by Mobil Corporation (now Exxon Mobil Corp. –NYSE "XOM") in 1984 for $5.7 Billion.
The historical resource estimate at Langtry thus far has been defined by 201 rotary drill holes drilled by the minerals division of Superior Oil Company in the late 1960s and early 1970s. Average hole depth was 400 feet and the deepest hole was 575 feet. The estimated historical resources on the Langtry claims are a 22 million ton ore body, with silver grading at an average of 2.37 ounces per ton for a total of 52.14 million ounces and barite grading at 7.9% for a total of 1.73 million tons. Superior estimated a potential 65% recovery rate on the silver ore. Athena has not independently verified these historical estimates and cannot attest to their accuracy.
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