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Athena VTEM Targets Identified

As reported in the June 2010 Quarterly, Athena completed a helicopter borne electromagnetic VTEM survey in May 2010 over the Byro East base metal project and the interpreted southern extensions of this intrusion. On receipt of the final data, Athena has engaged Southern Geoscience Consultants (SGC) to interpret the data and model any potential massive sulphide targets identified in the dataset. Initial results of the interpretation and modelling completed by SGC have now been received and a number of potential targets have been identified. The highest priority, and most exciting, of these targets is located to the north west of the Byro East intrusion on the VTEM survey line 10340. This target is in an area previously untested by historic exploration. The plate-model 3D inversion results of the VTEM data suggest a highly conductive target at 100m depth. Athena is currently designing drill holes to test this target during the current drilling program announced on 3 August. Athena also plans to test the late-time conductive target located in the centre of the Byro East intrusion. Historic drilling within the Byro East intrusion includes 67m @ 0.33%Ni and 0.67%Cu, with only a small number of drill holes testing for mineralisation below 100m depth.