- Saturn Metals (STN) begins diamond drilling at the West Wyalong Gold Project in New South Wales
- Initial focus will be on the Mallee Bull Reef which has not been subject to underground development or modern exploration since 1915
- The Mallee Bull Reef is believed to span over two kilometres in strike and measure up to two metres wide in some places
- Four diamond holes will be drilled with work expected to take 45 days to complete
- Saturn has ended the day 1.18 per cent in the red with shares trading at 42 cents
Saturn Metals (STN) has begun diamond drilling at the West Wyalong Gold Project in New South Wales.
The 91 square kilometre West Wyalong Project lies within the highly prospective Lachlan Fold Belt which hosts Evolution Mining’s (EVN) 7.4-million-ounce Cowal Mine.
The project operated primarily between 1894 and 1915 with peak production achieved in 1899 with 44,534 ounces of gold produced at a grade of 90g/t.
Initial focus will be on the Mallee Bull Reef which has not been subject to underground development or modern exploration since 1915.
The Mallee Bull Reef is believed to span over two kilometres in strike and measure up to two metres wide in some places.
Up until 1915, Mallee Bull produced over 128,000 ounces of gold at 50g/t.
Four diamond holes, for 2200 metres, will be drilled with work expected to take 45 days to complete.
“This is an exciting time for Saturn as it commences drilling on this rare, high grade and largely forgotten opportunity. West Wyalong was once one of Australia’s most important and prolific gold fields,” Managing Director Ian Bamborough commented.
“We look forward to keeping the market updated on our progress and results at West Wyalong.”
Saturn has ended the day 1.18 per cent in the red with shares trading at 42 cents in a $47.79 million market cap.