Saturn Metals circles in on MRE update

Saturn Metals (ASX:STN) has its sights set on a Mineral Resource Estimate (MRE) upgrade for its Apollo Hill Gold Project in Western Australia following a new round of ‘high-grade’ drilling intersections. 

Th results come from 2 diamond drillholes in the area, originally drilled for geotechnical purposes, and Saturn says they further highlight the potential for ‘higher-grade’ ores at surface across the deposit.

Results also provide further definition around some of the deposit’s ‘higher-grade’ architecture and highlight the potential for positive reconciliation in an area of the current measured mineral resource. 

Key ‘high-grade’ intersections include hole AHDD0018 with 16.6m @ 14.5 grams per tonne (g/t) gold (Au) from 11m, including 11.1m @ 21.55g/t Au from 16.1m, including 4.7m @ 49.25g/t Au from 17.4m; and hole AHDD0017 with 18.6m @ 0.9g/t Au from surface, including 11m @ 1.33g/t Au from 2m. 

The company notes that the updated MRE is scheduled for delivery once additional drilling planned for the remainder of 2023 and into 2024 is completed. 

Saturn Managing Director Ian Bamborough says the new results point to the presence of ‘higher-grade’ pockets within the deposit.

“As we continue to progress Apollo Hill project through its development studies towards production, we also look forward to additional results from this year’s planned exploration and resource development drill programs.”

“we also look forward to additional results from this year’s planned exploration and resource development drill programs”

The company’s next planned resource update is currently slated for after another bout of 2023/24 drilling. 

Saturn Metals’ Apollo Hill Project sits within the heart of the ‘world-class’ Eastern Goldfields district, about 650km northeast of Perth and about 50km southeast of the gold mining and processing town of Leonora. 

Saturn’s other assets include the West Wyalong Joint Venture (JV) Project in New South Wales, which represents a ‘high-grade’ vein opportunity.

The company had $1.607 million cash and cash equivalents at hand as of 30 September 2023, although it is in the process of completing a share purchase plan (SPP) to raise about $2 million to progress the development of Apollo Hill. 

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Written By Adam Drought
Born and raised in the UK, Adam is a sports fanatic with an interest in Rugby League and UFC/MMA. When not training in Muay Thai and Brazilian Jiu Jitsu, Adam attends Griffith University where he is completing his final year of a Communication & Journalism degree.