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- Saturn Metals (STN) updates the mineral resource estimate (MRE) for the Apollo Hill gold deposit at its Apollo Hill Gold Project in Western Australia
- The updated MRE reads 76 million tonnes at 0.60g/t gold for 1.46 million ounces, a 56 per cent increase in ounces from the previous estimate
- The MRE is based on data from reverse circulation drilling as well as the discovery of additional shallow mineralisation in the southern Apollo Hill corridor
- Saturn will now test and demonstrate the size of the Apollo Hill gold system by undertaking further step-out and exploratory drilling along the geological corridor
- Shares in Saturn are up 2.63 per cent and are trading at 39 cents
Saturn Metals (STN) has updated the mineral resource estimate (MRE) for the Apollo Hill gold deposit at its Apollo Hill Gold Project in Western Australia.
The updated indicated and inferred MRE reads 76 million tonnes at 0.60g/t gold for 1,469,000 ounces of gold.
Of this, 41 million tonnes for 0.58g/t gold for 760,000 ounces is classified as indicated, representing 52 per cent, while the remainder is classified as inferred.
The update represents a 56 per cent increase in ounces from the previous estimate.
The MRE is based on data from 286 reverse circulation (RC) holes, for 31,149 metres, drilled early last year and results from a heap leach metallurgical testing program.
Saturn also credits the increase to the discovery of additional shallow mineralisation in the southern Apollo Hill corridor and its improving knowledge of the geological controls at the deposit.
Notably, for Saturn, it has added 964,000 ounces to the Apollo Hill mineral resource in just over four years from listing.
“This resource upgrade is the fourth in as many years and is the most significant step forward for the company and the Apollo Hill asset,” Managing Director Ian Bamborough commented.
“Consistent improvements in the quality of the resource, its overall size, and to the mineral resource categories, through efficient drilling and testing continue to bode
well for the advancement of our business.”
Saturn will now test and demonstrate the size of the Apollo Hill gold system by undertaking further step-out and exploratory drilling along the geological corridor.
The company will also continue to increase the drill density with the inferred resource area to convert the material into the indicated category.
Shares in Saturn were up 2.63 per cent on the market and were trading at 39 cents at 11:08 am AEST.