Special Report: Saturn has discovered a potential major satellite gold discovery at its Apollo Hill project near Leonora, Western Australia.

The company is a step closer towards emulating its namesake planet, which has 53 moons with official names, after drilling at the Calypso prospect returned a high-grade interval of 9m at 8.67 grams per tonne (g/t) gold from 116m including 3m at 24.6g/t gold from 119m.

Results above 5g/t gold are generally considered to be high grade.

Saturn Metals (ASX:STN) had carried out drilling at the prospect, which incidentally shares its name with one of Saturn’s moons, to test below a historical aircore intersection of 10m at 9.8g/t gold from 89m.

The drilling was also aimed at providing further leads to grow and improve the project’s current resource of 781,000 ounces of gold.

Saturn says the new intersection confirms that primary mineralisation is associated with quartz veining in a sheared host rock and that along with historical results, the new hit has outlined a mineralised corridor of over 100m in width at Calypso.

There is potential for further growth as the interpreted strike extends in both directions for at least 500m.

Follow-up drilling programs are being planned.

Location of Calypso Prospect relative to Apollo Hill
Location of Calypso Prospect relative to Apollo Hill Pic: Supplied

Saturn is also continuing drilling around the high-grade Apollo Hill Hanging Wall Zone where previous holes returned notable results of 12m at 9.98g/t gold from 269m and 8m at 12.9g/t gold from 126m.

“We are delighted at the potential for an additional high-grade material source in close proximity to Apollo Hill,” managing director Ian Bamborough said.

“The style of mineralisation intersected at Calypso shows a strong similarity to the structural lode gold mineralisation intersected only 3.5km to the west at the Apollo Hill hanging-wall.

“The 100m wide mineralised corridor now evident at Calypso remains open in both directions and both AC and RC follow up drilling are being planned.”

>> 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.

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