BOULDER, Co., Aug. 24, 2012 (GLOBE NEWSWIRE) -- Athena Silver Corporation (OTCBB:AHNR) announced it has drawn an additional $100,000 on its credit facility to fund its fall 2012 work program planned for Langtry, which will include bulk sample collection and additional metallurgical testing in accordance with the recommendations of Athena's technical consultants. "We think further investment in metallurgical testing and also the rehabilitation of the water well on the property will enhance the value of Langtry. Both of these are key components in our future mine planning and we are excited to commence with the next phase of our development at Langtry," said John Power, President of Athena.
CALICO MINING DISTRICT UPDATE
Pan American Silver Corporation has also recently announced that it has focused its attention Waterloo silver development project in the Calico District, which Pan American has stated contains a large historical mineral resource estimate in excess of 100 million ounces of silver. The Waterloo project is near Langtry. According to Pan American, the first phase drill results from Waterloo are exceptional. The first 11 RC holes returned consistent high grade and wide intersects starting from the surface in most holes. They compare very well to the historic drill results from Asarco and in some instances are even higher grade. Pan American further stated that its drilling will continue with a second phase in order to confirm the historic mineral resource estimate. Pan American described Waterloo as being well on its way to being Pan American's newest development project. For the remainder of the year, the Pan American stated it will increase its exploration efforts at Waterloo, including metallurgical test work, continued RC and diamond drilling, geological mapping and geophysical surveys. 1Athena's Langtry project together with Pan American's Waterloo project are classified together as a "single significant deposit" by the United States Geological Survey which maintains a database of significant domestic resources for precious metals.
Check Out Our Best Services for Investors
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Model portfolio
- Stocks trading below $10
- Intraday trade alerts