Athena Resources Advances Narryer Project with Drilling and Fresh Funding
Athena Resources Limited (ASX: AHN) made significant progress during the June 2026 quarter by launching exploration drilling at its wholly owned Narryer Project, a key step toward defining a maiden Mineral Resource Estimate. The campaign comprises around 35 reverse circulation and diamond drill holes covering approximately 2,900 metres, with results expected to support future geological modelling, mine planning, and metallurgical studies. The company also completed a heritage survey, which identified no material obstacles to the current exploration program. Alongside Narryer, Athena continues progressing its Mid West Green Iron Project while awaiting metallurgical test outcomes and government funding decisions, and is assessing rare earth and niobium potential at its Milly Milly tenement.
To strengthen its financial position, Athena secured shareholder approval for a AU$3.5 million two-tranche capital raising and a 20-to-1 share consolidation. The first tranche contributed more than AU$2.2 million, lifting the company's cash balance to approximately AU$1.8 million at 30 June 2026. Management expects the current drilling program to conclude in late August 2026, with assay results targeted for October and a potential maiden resource estimate anticipated during the March 2027 quarter, supporting the long-term development of its premium magnetite assets.
Customer Notice:
Nextgen Global Services Pty Ltd trading as Kapitales Research (ABN 89 652 632 561) is a Corporate Authorised Representative (CAR No. 1293674) of Enva Australia Pty Ltd (AFSL 424494). The information contained in this website is general information only. Any advice is general advice only. No consideration has been given or will be given to the individual investment objectives, financial situation or needs of any particular person. The decision to invest or trade and the method selected is a personal decision and involves an inherent level of risk, and you must undertake your own investigations and obtain your own advice regarding the suitability of this product for your circumstances. Please be aware that all trading activity is subject to both profit & loss and may not be suitable for you. The past performance of this product is not and should not be taken as an indication of future performance.
Kapitales Research, Level 13, Suite 1A, 465 Victoria Ave, Chatswood, NSW 2067, Australia | 1800 005 780 | info@kapitales.com.au
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Athena Resources Advances Narryer Project with Drilling and Fresh Funding
Athena Resources Limited (ASX: AHN) made significant progress during the June 2026 quarter by launching exploration drilling at its wholly owned Narryer Project, a key step toward defining a maiden Mineral Resource Estimate. The campaign comprises around 35 reverse circulation and diamond drill holes covering approximately 2,900 metres, with results expected to support future geological modelling, mine planning, and metallurgical studies. The company also completed a heritage survey, which identified no material obstacles to the current exploration program. Alongside Narryer, Athena continues progressing its Mid West Green Iron Project while awaiting metallurgical test outcomes and government funding decisions, and is assessing rare earth and niobium potential at its Milly Milly tenement.
To strengthen its financial position, Athena secured shareholder approval for a AU$3.5 million two-tranche capital raising and a 20-to-1 share consolidation. The first tranche contributed more than AU$2.2 million, lifting the company's cash balance to approximately AU$1.8 million at 30 June 2026. Management expects the current drilling program to conclude in late August 2026, with assay results targeted for October and a potential maiden resource estimate anticipated during the March 2027 quarter, supporting the long-term development of its premium magnetite assets.
Customer Notice:
Nextgen Global Services Pty Ltd trading as Kapitales Research (ABN 89 652 632 561) is a Corporate Authorised Representative (CAR No. 1293674) of Enva Australia Pty Ltd (AFSL 424494). The information contained in this website is general information only. Any advice is general advice only. No consideration has been given or will be given to the individual investment objectives, financial situation or needs of any particular person. The decision to invest or trade and the method selected is a personal decision and involves an inherent level of risk, and you must undertake your own investigations and obtain your own advice regarding the suitability of this product for your circumstances. Please be aware that all trading activity is subject to both profit & loss and may not be suitable for you. The past performance of this product is not and should not be taken as an indication of future performance.
Kapitales Research, Level 13, Suite 1A, 465 Victoria Ave, Chatswood, NSW 2067, Australia | 1800 005 780 | info@kapitales.com.au