Special Report: New drilling results from Saturn’s flagship Apollo Hill project include a best-ever intersection of 12m at 9.98g/t gold. These hits — located outside the current resource envelope — represent a ‘step change’ to the potential size and grade of this rapidly growing gold system.
Today, popular explorer Saturn Metals (ASX:STN) released the final results from its December 2019 drilling campaign at Apollo Hill.
This 781,000-ounce deposit — 60km from Leonora in the WA goldfields — is already big, thick and accessible from surface.
But Saturn always believed there was multi-million-ounce potential in the wider gold system.
The plan was to chase down fresh gold in the newly discovered high-grade ‘hanging wall’ zones, east of the existing deposit. Mission accomplished.
The high-grade and very thick intersections from this drilling announced today included 12m at 9.98 grams per tonne (g/t) gold, 269m from surface.
These results have also extended the hanging wall mineralisation over 150m to the east and 125m down dip and thickened the total Apollo Hill mineralised corridor to 450m wide.
And high-grade gold remains ‘open’ everywhere, the company says, which means there’s a strong likelihood that there is more to come.
That is excellent by any measure. It also highlights just how much scope there is to grow this resource in grade, quality and scale.
The stock — which is up 121 per cent over the past 12 months — moved higher to 40c per share in early trade.
Saturn managing director Ian Bamborough says these results show the potential for a major resource upgrade immediately adjacent to the initial Apollo Hill zone.
“A thick mineralised corridor is providing multiple opportunities for additional discovery with significantly improved grades now being intersected,” he says.
Drilling has recommenced at Apollo Hill with two rigs currently on site, Bamborough says.
“We look forward to the ongoing results flow in the coming months, to including results into our next planned resource upgrade process currently scheduled for mid-year.”
NOW WATCH: 90 Seconds With… Ian Bamborough, Saturn Metals