Special Report: Saturn’s flagship 781,000-ounce Apollo Hill deposit in WA is looking a whole lot bigger — in 2020.

The latest results from a recently completed 11,000m drilling barrage at Apollo Hill has successfully extended the higher-grade gold mineralisation in all directions.

And it remains ‘open’, which just means Saturn (ASX:STN) can’t find the edges of this major gold system just yet.

The 781,000-ounce deposit – located in the heart of WA’s eastern goldfields — is already big, thick and accessible from surface.

But Saturn always believed there was multi-million-ounce potential in the wider gold system.

In May this year the company made a step-change discovery; a new high-grade ‘hanging wall’ lode at Apollo Hill, outside the current resource.

This is where much of the recent resource growth has come from:

The latest results from the recently completed ~10,000m drilling program confirm that these hanging-wall lodes continue to have the potential to be consistently higher grade than the main Apollo load (i.e. +4g/t to +5g/t gold blocks).

Recent highlights include a 5m interval grading 4.70g/t gold, 126m from surface; and 6m grading 4.08g/t within a larger 55m section grading 0.62g/t from 92m.

Importantly, these new intersections are mostly outside the existing resource.

Results have successfully extended hanging-wall mineralisation 150m to the north and provided evidence of fresh mineralisation 350m east of the hanging-wall resource model.

It has also extended the adjacent Ra deposit 100m to the south and provided evidence of important mineralisation in the Ra-Apollo Hill Link Zone.

And recently collected magnetic data and rock chipping have provided Saturn with new drilling targets immediately east of, and adjacent to, the new hanging-wall lodes.

This gold system is open everywhere:

Since listing on the ASX in March 2018, Saturn has added 9.8 valuable gold ozs (a fair penny to its Apollo Hill gold resource for every metre drilled and modelled. That’s an excellent return, and it looks set to continue.

Apollo Hill is a widening mineralised corridor with “multiple opportunities for new discovery”, Saturn managing director Ian Bamborough says.

“Improving mineralisation in other areas such as the Ra area is a bonus,” he says.

“Importantly, we look forward to results from our recently completed deeper step out holes which have been drilled to test for mineralisation down dip of both the northern and southern higher-grade hanging-wall zones.

“A second 10,000m extensional RC phase is planned to commence in early January 2020.”

NOW WATCH: 90 Seconds With… Ian Bamborough, Saturn Metals



This story was developed in collaboration with Saturn Metals, a Stockhead advertiser at the time of publishing.
This story does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions