Saturn Metals a member of the Gold Industry Group has recently shared promising outcomes from its drilling activities at the Apollo Hill gold project in Western Australia.
The company has uncovered substantial high-grade gold intersections close to the surface. Notably, one intersection measured 16.6 metres at an impressive 14.5 grams per tonne (g/t) of gold, starting from a depth of 11 metres. This includes an even higher-grade section of 11.1 metres at 21.55 g/t gold, starting from 16.1 metres. Another significant finding was 18.6 metres at 0.9 g/t gold from the surface, with a section including 11 metres at 1.33 g/t gold from a depth of two metres.
These encouraging results suggest a potential enhancement in the near term for the company's measured mineral resource estimate (MRE). The findings have also revealed possibilities for discovering higher-grade ores within the deposit.
Saturn’s Managing Director, Ian Bamborough, emphasised the consistency of the strong intersections and the discovery of higher-grade pockets within the deposit. He expressed optimism about the ongoing development of the Apollo Hill project, anticipating further positive outcomes from the planned exploration and resource development drill programs scheduled for the year.
Currently, the Apollo Hill project boasts a growing MRE of 105 million tonnes at 0.64 grams per tonne of gold, totalling 1.8 million ounces. Saturn Metals plans to incorporate these latest results into future upgrades of Apollo’s MRE, with the next update expected after further drilling activities slated for late 2023 and early 2024.
Reflecting the positive sentiment, STN shares saw a 7.69 per cent increase, trading at 14 cents as of 11:04 am AEDT. This development not only highlights Saturn Metals' progress but also will positively influence the vital role they play in advancing the gold sector as a member of Gold Industry Group.