Saturn shines bright with further Apollo Hill exploration
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Special Report: Saturn Metals has returned more promising results from drilling at its Apollo Hill gold project in Western Australia, as it works towards a mineral resource upgrade.
Saturn Metals (ASX:STN) said the latest results from Apollo further demonstrated mineralised continuity on several hanging-wall positions along the project’s strike length.
The company returned assays in holes drilled outside the current mineral resource, including:
Drilling on the Apollo Hill main zone continues to extend and improve mineralisation there too, with AHRC0424 intersecting 12m at 1.78g/t gold from 370m.
Importantly, all 26 holes reported returned intercepts above the Apollo Hill resource cut-off grade, and 22 of the 26 holes reported mineralisation above the average resource grade.
Saturn managing director Ian Bamborough said the results were encouraging.
“Results continue to develop shallower hanging-wall positions. Further extensional intersections are being reported on the main lode,” he said.
“The cumulative effect of ongoing drilling is the significant enhancement of our understanding of the opportunity at Apollo Hill.”
Infill and extensional drilling at the project continues, with assays pending for a further 41 holes.
“We look forward to receiving and reporting on the next batch shortly,” Bamborough said.
“The reported assays are being incorporated into the current resource upgrade process which is scheduled for completion in early December.”
Saturn raised $13.7 million through a share placement in September to progress exploration at Apollo Hill.
Located around 50km south-east of Leonora, Saturn’s Apollo Hill project currently has a 2018 JORC complaint inferred resource of 24.5 million tonnes at 1g/t gold for 781,000 ounces, measured at a cut-off grade of 0.5g/t gold.
The company is working hard to grow the resource, with an upgrade expected before the end of the year.
The project sits in good company in the Eastern Goldfields, near a number of prolific mines including St Barbara’s historic Gwalia project, Dacian’s Mt Morgans Mine and Red 5’s King of the Hills project.
Saracen, Gold Fields and Anglo Ashanti also own mines in proximity to Apollo Hill.
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.