Saturn Metals has impressive drilling results for Apollo Hill deposit
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Special Report: Gold exploration company Saturn Metals has reported some very strong drilling results for its Apollo Hill gold project in WA’s Eastern Goldfields region.
Twenty out of 21 drill holes at Saturn Metals’ (ASX:STN) Apollo Hill deposit within the project returned assay results above the project’s cut-off grade, and 14 intercepts had mineralisation above the average resource grade.
The impressive hits include 10m at 2.02 grams per tonne gold from 51m including 5m at 3.84 g/t from 53m, and 5m at 2.38 g/t for gold from 126m.
Apollo Hill’s current mineral resource is 24.5 million tonnes grading 1 g/t gold for 781,000 ounces of gold.
“Results continue to extend gold mineralisation and improve continuity in shallow hanging-wall positions along the deposit’s strike length,” managing director, Ian Bamborough, said.
The thick, shallow intersections show that gold mineralisation continues along the Apollo Hill deposit’s strike length and highlight the potential to increase the size and quality of the project’s gold system.
Saturn Metals continues to drill the main zones of its Apollo Hill deposit to improve and extend the project’s mineralisation and has achieved hits such as 16m at 2 g/t gold from 136m.
Assay results are pending for a further 60 follow-up drill holes at the Apollo Hill project which is 60km south-east of Leonora in WA.
“Extensional drilling on the main lode is returning some excellent intersections,” said Bamborough.
A further resource upgrade statement is planned before the end of 2020 and will include results from drilling carried out at Apollo Hill since its last revision in October 2019.
Apollo Hill project in prolific gold production area
The Apollo Hill project comprises 28 highly prospective gold exploration and prospecting licences covering 1,600sqkm.
The project is located on the Keith Kilkenny Shear and is close to several high profile gold mines in the Laverton belt for 41 million ounces and Leonora-Wiluna belt for 44 million ounces of gold.
Saturn Metals has a second exploration project for gold, West Wyalong, on the Gilmore fault in NSW’s Lachlan Fold Belt.
Legendary Canadian gold investor Eric Sprott’s fund Sprott Group has a significant shareholding in Saturn Metals.
Investors queued up to join a recent share placement for Saturn Metals that raised $13.7m.
This article was developed in collaboration with Saturn Metals, a Stockhead advertiser at the time of publishing.
This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.