Saturn Metals

Strong Drill Results Support Development Potential at Apollo Hill Gold Project

Wide intercepts continue to highlight the robust nature of the deposit

Saturn Metals Limited (ASX: STN) (“Saturn” or “the Company”) is pleased to report assay results from ongoing resource development drilling at its flagship 100%-owned Apollo Hill Heap Leach Gold Project, located near Leonora in Western Australia.


HIGHLIGHTS

  • Excellent results received from resource-focused Reverse Circulation (RC) drilling completed last year, supporting the development potential at Apollo Hill.
  • Thick and higher-grade results include:
    • 53m @ 1.08g/t Au from 128m including 16m @ 3.02g/t Au from 144m – AHRC1022
    • 29m @ 1.69g/t Au from 164m including 5m @ 8.94g/t Au from 187m – AHRC1028
    • 29m @ 1.12g/t Au from 191m including 7m @ 3.03g/t Au from 191m – AHRC1020
    • 21m @ 1.85g/t Au from 203m including 11m @ 3.26g/t Au from 206m; and,
    • 86m @ 0.58g/t Au from 106m – AHRC1116
    • 20m @ 1.13g/t Au from 85m within 27m @ 0.94g/t Au from 78m – AHRC1019
    • 20m @ 2.04g/t Au from 3m within 65m @ 0.77g/t Au from 3m – AHRC1049
  • The results highlight the continuity of mineralisation across the deposit, supporting the Company’s heap leach development strategy, whilst also emphasising localised higher-grade opportunities.
  • Work is nearing completion on an interim resource upgrade for Apollo Hill, scheduled for early next month. Resource drilling has also re-commenced on site.

The results provide strong support for Saturn’s heap leach development strategy for Apollo Hill, reinforcing the continuity of mineralisation and the robustness of the deposit.

This announcement includes results from 50 drill-holes and 7,042m of assays (Appendix 1) from drilling completed at Apollo Hill last year. Drill-hole details are listed in Appendix 2. All holes reported intersections above the resource cut-off grade.

Figure 1 shows reported intersections on a simplified geological cross-section along with planned drill holes and the 2023 Mineral Resource Block model. Reported drill-hole locations and significant results are illustrated in Plan View in Figure 2.

Saturn’s Managing Director Ian Bamborough said: “These impressive results, as illustrated in Figure 1, show how the Apollo Hill deposit continues to develop. I am pleased with the deposit’s trajectory as we progress with drilling. With work nearing completion on the next interim resource upgrade at Apollo Hill, due next month, these results will feed into a subsequent resource upgrade targeted for Q2 2025, which will in turn underpin the Pre-Feasibility Study scheduled for completion later this year. We look forward to reporting additional rounds of results as we continue with our most comprehensive drill program at Apollo Hill to date.”

Figure 1 – Simplified geological cross-section showing recent results, mineralisation interpretation, Mineral Resource block model and planned RC holes; Section location shown in plan on Figure 2 (A-A1).

Figure 2 – Plan Overview, Apollo Hill RC Holes. Previously reported holes >1 Gram Metre (g/t Au x Metres) with all holes reported in this announcement illustrated. 2023 Apollo Hill Mineral Resource1 Pit Shell Outline seen at 350RL (Average Surface RL); Figure 1 cross-section illustrated as line A-A1 on this diagram.

Assays remain pending from 38 holes and 8,200m, with a further 25,000m of drilling scheduled for the first half of 2025.

Drilling operations have resumed on-site.

As noted above, Saturn is currently working on an interim upgrade of Apollo Hill’s 1.84Moz1 Mineral Resource (anticipated for release next month) which will include results from 34 holes and 9,402m of extensional focused drilling recently reported to the ASX on 28 October 2024.

These latest results will be utilised in a future resource estimate planned as part of Saturn’s bulk tonnage heap leach PFS, scheduled for completion later this year.


Click here for the full ASX Release

This article includes content from Saturn Metals, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.

The Conversation (0)
Gold nuggets with text: "5 Top Australian Mining Stocks This Week."

Top 5 Australian Mining Stocks This Week: BPM Minerals Gains 111 Percent

Welcome to the Investing News Network's weekly round-up of the top-performing mining stocks on the ASX.This week's top five gainers includes companies focused on gold, antimony, lithium and more.Read on to discover this week's top gaining Australian mining stocks on the ASX and what drove their... Keep Reading...
Peter Schiff, gold bar.

Peter Schiff: Gold, Silver, Energy, Value Stocks — 2027 Opportunities

Peter Schiff, chief economist and global strategist at Euro Pacific Asset Management and founder of Schiff Gold, sees lower gold and silver prices as a buying opportunity.He believes part of the reason for their decline is that markets are overestimating the strength of the American economy, as... Keep Reading...
Chris Temple, gold bars.

Chris Temple: Gold Price Rout Not Over, Watch for This Green Light

Chris Temple, founder, editor and publisher of the National Investor, lays out what's weighing on the gold price right now and what would prompt a turnaround.In his view, the light will turn green for metals once the US Federal Reserve stops talking about fighting inflation, with gold's rebound... Keep Reading...
Omar ayales, gold bars.

Omar Ayales: 2 Gold Price Scenarios, Plus What I'm Buying Now

Is the gold price setting up for a 2012 scenario, or can it stage a rebound? Omar Ayales of Gold Charts R Us laid out two potential scenarios — one where gold sinks to US$3,000 per ounce, and one where it gets back to US$4,700. Don't forget to follow us @INN_Resource for real-time... Keep Reading...
Shiny gold bar rests on financial chart with fluctuating orange and blue lines.

Stored, Safe and Spendable: How Technology is Changing Gold Ownership

Gold has long been treated as a store of value, often leading to selling the metal to generate cash from it. Digital ownership and payment technology are reshaping that idea.Demand data from the World Gold Council (WGC) shows that investors continue to accumulate gold as a long-term holding.... Keep Reading...
World map on red background featuring stock market graphs and numeric data overlays.

Frank Giustra: US Debt, Midterm Elections and Shifting Global Order Highlight Gold and Copper

The US midterm elections may have reshaped the political landscape in Washington, but they are unlikely to change what mining investor and Fiore Group CEO Frank Giustra sees as the country's biggest economic problem: an unsustainable debt burden and a growing loss of confidence in the US... Keep Reading...

Interactive Chart

Latest Press Releases

Related News