Saturn Metals (ASX:STN) has secured three exploration licences covering the Aquarius Gold Prospect in Western Australia, providing access for follow-up drilling along a 26.5km gold trend.
Exploration Licences E31/1340, E31/1394, and E39/2439 are located around 30km southeast of Saturn’s Apollo Hill Gold Project and adjoin its existing regional tenure in the Leonora region.
The 135km² E39/2439 licence covers ground previously explored by Sumitomo Metal Mining (TYO:5713) Oceania. Historical aircore drilling by Sumitomo returned 3m @ 8.51 grams per tonne gold (g/t Au) from 102m in hole MBAC0629.
Diamond and reverse circulation drilling in more advanced areas of the trend returned intersections including 36m @ 1.25g/t Au from 102m within 82m @ 0.83g/t Au from 87m in MBRC0005.
Other results include 16m @ 1.72g/t Au from 228m, including 6m @ 2.89g/t Au from 234m, in MBDD0010, and 33m @ 1.27g/t Au from 78m in MBRC0016.
The Aquarius trend lies between Apollo Hill and Northern Star Resources’ (ASX:NST) Carosue Dam operations.
Managing Director Ian Bamborough says the licence grants consolidate Saturn’s position along the corridor and allow the company to evaluate the trend systematically.
“Aquarius already displays many of the characteristics that we look for in a significant gold system, with a 26.5km long mineralised trend defined by drilling, including several broad and higher-grade gold intercepts,” Bamborough says.
Saturn says it is refining its geological interpretation and developing follow-up drilling programs for the coming months.
Apollo Hill hosts a mineral resource estimate of 174 million tonnes (Mt) @ 0.51g/t Au for 2.83 million ounces (Moz) and an ore reserve of 104.6Mt @ 0.47g/t Au for 1.59Moz.
The Aquarius licence grants follow the recent approval of Mining Lease 31/496, which covers Saturn’s proposed Apollo Hill mine development and associated infrastructure.
Write to France Pinzon at Mining.com.au
Images: Saturn Metals
