Saturn Metals (ASX:STN) has updated the resource for the Apollo Hill Gold Project in Western Australia, with it now exceeding more than 2 million ounces of gold.
Apollo Hill’s updated measured, indicated, and inferred resource now totals 118.7 million tonnes @ 0.53 grams per tonne gold for 2.03 million ounces.
Saturn Metals, which has a market capitalization of $74.13 million, says the updated resource has been developed to guide an initial mine plan for the project’s Prefeasibility Study which is due later this year.
The updated resource is based on an additional 38 reverse circulation drill holes and 17 diamond drillholes, as well as continuous improvement in geological and resource modelling.
Managing Director Ian Bamborough says this resource is the sixth consecutive upgrade for the company at Apollo Hill.
“Once again, we have made a significant step forward with the resource under a conventional and efficient bulk mining and heap leach processing trajectory,” Bamborough says.
“Importantly, this expanded mineral resource is published within a single, simple, large Whittle pit shell, which demonstrates the potential to realise significant economies of scale and the efficiencies that this will deliver.
“Consistent improvements in the quality of the resource, its overall size, and to the mineral resource classifications through effective drilling continue to bode well for the advancement of our business.”
Bamborough notes the company’s geological understanding of the deposit continues to grow.
“We currently have rigs onsite focused on resource infill and metallurgical drilling, which will provide the basis of another planned resource upgrade in 2025,” he says.
The Apollo Hill Project is located 650km northeast of Perth in the Goldfields region of Western Australia. The project comprises 29 licences, covering 1,500km2 of ground.
Saturn Metals is a gold-focused explorer and developer with assets in Western Australia and New South Wales.
Write to Aaliyah Rogan at Mining.com.au
Images: Saturn Metals
