Proactiveinvestors Australia Saturn Metals Ltd https://www.proactiveinvestors.com.au Proactiveinvestors Australia Saturn Metals Ltd RSS feed en Thu, 27 Jun 2019 12:32:51 +1000 http://blogs.law.harvard.edu/tech/rss Genera CMS action@proactiveinvestors.com (Proactiveinvestors) action@proactiveinvestors.com (Proactiveinvestors) <![CDATA[News - Saturn Metals expects to lift Apollo Hill resource after further strong gold results ]]> https://www.proactiveinvestors.com.au/companies/news/222380/saturn-metals-expects-to-lift-apollo-hill-resource-after-further-strong-gold-results-222380.html Saturn Metals Ltd (ASX:STN) has received further strong gold results from the Apollo Hill project near Leonora in WA’s Goldfields, which highlight the potential to increase the 685,000-ounce resource.

Best of the remaining results from a reverse circulation (RC) and diamond resource infill drilling completed in May was 7 metres at 3.39 g/t gold from 31 metres.

The program was completed at the southern and central parts of Saturn’s 100%-owned Apollo Hill project.

READ: Saturn Metals latest results hit 13 metres at 3.81 g/t gold

Saturn is preparing a resource upgrade and expects to complete this in coming months.

The resource currently stands at 700,000 tonnes grading 1.0 g/t for 685,000 ounces of gold.

Shares are up 4% to an intra-day high of 26 cents.

Apollo Hill location, Saturn’s tenements and surrounding deposits, gold endowment and infrastructure.

Saturn managing director Ian Bamborough said: “It is very pleasing to continue to see solid intersections reporting above the Apollo Hill resource grade.

"We look forward to incorporating the results into our next resource upgrade.

"Importantly, drilling has recommenced at the Apollo Hill hanging wall in the north, where an aggressive program is testing for shallow high-grade mineralisation.”

Other significant intersections returned from main lode resource drilling are:

30 metres at 1.23 g/t from 88 metres, including 15 metres at 2.0 g/t from 103 metres, which also included 8 metres at 2.7 g/t from 103 metres; and

18 metres at 1.30 g/t from 18 metres, including 8 metres at 2.40 g/t from 28 metres.

RC drill results relative to the resource. Improved grade hanging wall mineralisation continues to develop.

READ: Saturn Metals begins drilling high-grade hanging wall zone at Apollo Hill Gold Project

RC drilling has recommenced at Apollo Hill to further test recently defined higher grade hanging wall lodes in the north of the deposit.

This is following up a number of high-grade intersections such as 10 metres at 5.78 g/t from 46 metres, including 5 metres at 11 g/t from 46 metres.

The company is planning up to 10,000 metres in this follow-up program aimed at expanding the newly discovered high-grade hanging wall zones.

Several of these holes have already been completed and assays are pending.

READ: Saturn Metals obtains strong gold recoveries in sorting tests on Apollo Hill mineralised material

Having finished the March 2019 quarter with $2.8 million in cash, and after raising $1.5 million through a share placement in May, Saturn is well funded to accelerate drilling activity and has brought a second rig to site.

Apollo Hill is about 60 kilometres southeast of Leonora and the project is surrounded by excellent infrastructure and several significant gold deposits and operations.

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Wed, 19 Jun 2019 12:39:00 +1000 https://www.proactiveinvestors.com.au/companies/news/222380/saturn-metals-expects-to-lift-apollo-hill-resource-after-further-strong-gold-results-222380.html
<![CDATA[News - Saturn Metals begins drilling high-grade hanging wall zone at Apollo Hill Gold Project ]]> https://www.proactiveinvestors.com.au/companies/news/222018/saturn-metals-begins-drilling-high-grade-hanging-wall-zone-at-apollo-hill-gold-project-222018.html Saturn Metals Ltd (ASX:STN) has resumed exploration drilling at its Apollo Hill Gold Project near Leonora in the Western Australian goldfields.

An aggressive program of up to 10,000 metres of reverse circulation (RC) drilling has commenced at Apollo Hill as part of Saturn’s efforts to expand the newly discovered high-grade hanging wall zones and to rapidly grow the project’s resource, which currently stands at 20.7 million tonnes grading 1 g/t gold for 685,000 ounces.

Planned exploration and resource extension drilling locations relative to the published resource

Having finished the March 2019 quarter with $2.8 million in cash, and after successfully raising $1.5 million through a share placement in May, Saturn is well funded to accelerate drilling activity at Apollo Hill and has brought a second rig to site for that purpose.

READ: Saturn Metals secures funds to accelerate gold exploration at Apollo Hill

Saturn managing director Ian Bamborough said: “We have been highly encouraged by the results we have seen to date from the newly discovered hanging wall zones and as a result we are ramping up exploration efforts.

“This new program of drilling will further test the potential of those zones and could deliver a step change in the size and grade of the Apollo Hill Mineral Resource.”

RC drilling underway at Apollo Hill –June 12, 2019

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Thu, 13 Jun 2019 12:01:00 +1000 https://www.proactiveinvestors.com.au/companies/news/222018/saturn-metals-begins-drilling-high-grade-hanging-wall-zone-at-apollo-hill-gold-project-222018.html
<![CDATA[News - Saturn Metals latest results hit 13 metres at 3.81 g/t gold ]]> https://www.proactiveinvestors.com.au/companies/news/221512/saturn-metals-latest-results-hit-13-metres-at-381-gt-gold-221512.html Saturn Metals Ltd (ASX:STN) has received assay results from the first five holes of its completed 17-hole drill program at its Apollo Gold Project near Leonora in Western Australia.

The results, which will feed into a pending JORC resource upgrade, have identified and extended zones of improved grade at the southern end of the deposit.

Furthermore, the results highlight the potential for additional shallow hanging wall targets.

Highlights include 13 metres at 3.81 g/t gold from 119 metres, 14 metres at 2.04 g/t gold from 34 metres and 22 metres at 1.42 g/t gold from 103 metres.

Assays remain pending for a further 12 holes from the 2,300-metre reverse circulation (RC) and diamond program.

READ: Saturn Metals secures funds to accelerate gold exploration at Apollo Hill

Saturn’s managing director Ian Bamborough said: “We continue to be very pleased with developments at Apollo Hill.

“Our work continues to produce better results within this large and growing gold system that will help form the basis of our next resource upgrade.

“We look forward to getting the drill rigs turning again in the coming weeks as we execute our plan to re-focus on the newly defined higher-grade hanging wall lodes in the north of the deposit.”

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Wed, 05 Jun 2019 11:55:00 +1000 https://www.proactiveinvestors.com.au/companies/news/221512/saturn-metals-latest-results-hit-13-metres-at-381-gt-gold-221512.html
<![CDATA[News - Saturn Metals obtains strong gold recoveries in ore sorting test work on Apollo Hill mineralised material ]]> https://www.proactiveinvestors.com.au/companies/news/221020/saturn-metals-obtains-strong-gold-recoveries-in-ore-sorting-test-work-on-apollo-hill-mineralised-material-221020.html Saturn Metals Ltd (ASX:STN) has achieved strong first-pass results in a laser ore sorting test of a 24.2-kilogram composite sample of mineralised material from its Apollo Hill Gold Project in Western Australia.

The results highlight the deposit’s amenability to this type of mineral processing upgrade, showing mineralised quartz can be efficiently separated from non-mineralised host basalt.

Further test work is planned to optimise the application of ore sorting technology as a processing option for the project.

 

Saturn managing director Ian Bamborough said this was a very important breakthrough for Apollo Hill, which currently contains a mineral resource of 20.7 million tonnes grading 1.0 g/t gold for 685,000 ounces of gold.

He said: “Positive ore sorting results have the potential to deliver a step change in the feed grade of material delivered into any mineral processing circuit.

“Subject to further positive results, we may have the potential to significantly improve options for the economic development of Apollo Hill.”

Saturn Metals secures funds to accelerate gold exploration at Apollo Hill

Highlighted outcomes from the test work include a 1.5 times upgrade to the grade of the sample, from 0.78 g/t gold to 1.2 g/t, as well as strong gold recovery of up to 91.9% with only two ore sorting passes.

A 28% volume reduction was achieved, removing a significant portion of waste rock and marginal material.

The company notes that only 0.55% of gold in the sample was lost to fines in preparation for ore sorting, a process involving crushing and wet screening to plus-10 millimetre ore sorting size.

This low figure is considered a positive result as loss of metal to fines can otherwise render the process ineffective.

Saturn Metals latest drill results discovers new lode at Apollo Hill

Ore sorting can result in a more efficient mineral processing solution being developed for mining projects, with smaller tonnages of higher-grade material being beneficiated for mineral processing.

This can potentially reduce the size and cost of processing circuits or increase gold milling capacity, both of which would positively impact project economics.

An ore sorting treatment of higher-grade material from Apollo Hill could also lead to truck and toll treatment options for the deposit.

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Tue, 28 May 2019 02:56:00 +1000 https://www.proactiveinvestors.com.au/companies/news/221020/saturn-metals-obtains-strong-gold-recoveries-in-ore-sorting-test-work-on-apollo-hill-mineralised-material-221020.html
<![CDATA[News - Saturn Metals secures funds to accelerate gold exploration at Apollo Hill ]]> https://www.proactiveinvestors.com.au/companies/news/220264/saturn-metals-secures-funds-to-accelerate-gold-exploration-at-apollo-hill-220264.html Saturn Metals Ltd (ASX:STN) has secured $1.5 million in funding from a share placement to professional investors priced at 21 cents.

The funds will be used to accelerate drilling and resource definition at its 100% owned Apollo Hill Gold project near Leonora in Western Australia.

The 10,000-metre program to commence early next month will target the newly discovered high-grade hanging wall zones which recently returned 13 metres at 5.05 g/t gold from 74 metres.

READ: Saturn Metals latest drill results discovers new lode at Apollo Hill

The placement funding together with the $2.8 million in cash at the end of March provide substantial funding to work towards upgrading the 685,000-ounce at 1.0 g/t gold resource.

Saturn’s managing director Ian Bamborough said: “This successful raising has put the company in a stronger position to accelerate drilling on our newly discovered higher-grade hanging wall position.

“At the same time, we can maintain the pace of the resource drilling and regional exploration programs underway at Apollo Hill.

“With a strong balance sheet, an exciting new target to test, results from completed drilling awaited and a solid resource base that should continue to grow, Saturn’s future continues to look prosperous.”

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Wed, 15 May 2019 11:29:00 +1000 https://www.proactiveinvestors.com.au/companies/news/220264/saturn-metals-secures-funds-to-accelerate-gold-exploration-at-apollo-hill-220264.html
<![CDATA[News - Saturn Metals in trading halt ahead of capital raising news ]]> https://www.proactiveinvestors.com.au/companies/news/220084/saturn-metals-in-trading-halt-ahead-of-capital-raising-news-220084.html Saturn Metals Ltd (ASX:STN) has capital raising news pending and has been granted a trading halt by the ASX.

The trading halt will remain in place until the start of trading on Wednesday, May 15, or when an announcement is made to market – whichever occurs first.

Saturn's securities last traded at 24 cents.

 

Earlier this month the company intersected further high-grade gold at a new lodge adjacent to the Apollo Hill Gold Project.

Saturn Metals managing director Ian Bamborough said the latest intersection was one of the best ever reported at Apollo Hill, sparking a new direction for the deposit and its future growth potential.

He said: “What is important about this is the intersection represents a step out to a new lode, to a new discovery directly east of Apollo Hill at 150 metres away.

READ: Saturn Metals latest drill results discovers new lode at Apollo Hill

“We are really starting to see a pattern here, this is about the third intersection in this new zone and I always think – one hit, two hits, three hits and you’ve really strung something together.”

The drilling results were from holes 25-30 of the planned 48-hole program with hole AHRC0136 intersecting 13 metres at 5.05 g/t gold from 74 metres including 4 metres grading 9.8 g/t from 74 metres.

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Mon, 13 May 2019 10:59:00 +1000 https://www.proactiveinvestors.com.au/companies/news/220084/saturn-metals-in-trading-halt-ahead-of-capital-raising-news-220084.html
<![CDATA[News - Saturn Metals latest drill results discovers new lode at Apollo Hill ]]> https://www.proactiveinvestors.com.au/companies/news/219517/saturn-metals-latest-drill-results-discovers-new-lode-at-apollo-hill-219517.html Saturn Metals Ltd (ASX:STN) has receive drill results from holes 25-30 of the planned 48-hole program underway at its 100%-owned Apollo Hill Gold Project near Leonora in Western Australia.

Notably, hole AHRC0136 intersected 13 metres at 5.05 g/t gold from 74 metres including 4 metres grading 9.8 g/t gold from 74 metres.

This thick, high-grade, relatively shallow intersection is located on a newly discovered hanging wall splay to the main Apollo Hill deposit.

It provides a good opportunity to pursue a new higher grade structure immediately east of the Apollo Hill Resource.

The mineralisation remains open along strike and down dip.

READ: Saturn Metals hits high-grade gold up to 5.21 g/t at Apollo Hill

Saturn’s managing director Ian Bamborough said: “The intersection returned from AHRC0136 is one of the best ever reported at Apollo Hill.

“It represents the start of a new direction for the deposit and its future resource growth potential. Holes are being planned to follow up on this excellent result as soon as possible.”

Saturn plans to complete another 4,000 metres of RC drilling at Apollo Hill in the coming months with assays to be reported when received.

Upgrading the 685,000-ounce deposit

Results conitues to support the potential for a resource upgrade to the current JORC estimate of 20.7 million tonnes grading 1.0 g/t gold for 685,000 ounces of gold.

Recent drill results relative to the JORC resource

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Thu, 02 May 2019 10:36:00 +1000 https://www.proactiveinvestors.com.au/companies/news/219517/saturn-metals-latest-drill-results-discovers-new-lode-at-apollo-hill-219517.html
<![CDATA[Media files - Saturn Metals intersects further high-grade gold at new lode adjacent to Apollo Hill ]]> https://www.proactiveinvestors.com.au/companies/stocktube/13187/saturn-metals-intersects-further-high-grade-gold-at-new-lode-adjacent-to-apollo-hill-13187.html Thu, 02 May 2019 00:08:00 +1000 https://www.proactiveinvestors.com.au/companies/stocktube/13187/saturn-metals-intersects-further-high-grade-gold-at-new-lode-adjacent-to-apollo-hill-13187.html <![CDATA[Media files - Saturn Metals' Apollo Hill gold assays highlight future resource growth potential ]]> https://www.proactiveinvestors.com.au/companies/stocktube/13145/saturn-metals--apollo-hill-gold-assays-highlight-future-resource-growth-potential-13145.html Tue, 30 Apr 2019 00:46:00 +1000 https://www.proactiveinvestors.com.au/companies/stocktube/13145/saturn-metals--apollo-hill-gold-assays-highlight-future-resource-growth-potential-13145.html <![CDATA[News - Saturn Metals hits high-grade gold up to 5.21 g/t at Apollo Hill ]]> https://www.proactiveinvestors.com.au/companies/news/219212/saturn-metals-hits-high-grade-gold-up-to-521-gt-at-apollo-hill-219212.html Saturn Metals Ltd (ASX:STN) has received high-grade results from holes 14-24 of a planned 48-hole, 5,900-metre program of reverse circulation and diamond drilling at its Apollo Hill Gold Project near Leonora in WA.

The intersections compare favourably with better historic mineralised intervals, highlighting the potential to increase the scale and quality of the current mineral resource of 20.7 million tonnes grading 1 g/t for 685,000 ounces of gold.

Saturn plans to complete another 5,000 metres of drilling at Apollo Hill in the coming months.

The drilling results in geological cross section for fuller context

READ: Saturn Metals assays up to 53.7 g/t gold in first batch of results

Saturn managing director Ian Bamborough said: “These excellent results will be a great addition to our next resource update planned for the second half of 2019.

“It is great to see the continuity of improved grade within the current resource envelope.

“In addition, further strong intersections such as AHRC0127 with 6 metres at 5.21 g/t from 37 metres in the hanging wall zone continue to give us cause for excitement.”

Near surface higher grade resource drilling intersections include:

18 metres at 2 g/t from 37 metres, including 6 metres at 5.21 g/t; 16 metres at 2 g/t from 45 metres; 22 metres at 1.5 g/t from 128 metres, including 12 metres at 2.33 g/t from 128 metres; 26 metres at 1.19 g/t from 1 metre, including 10 metres at 2.1 g/t from 8 metres; 19 metres at 1.16 g/t from 47 metres, including 8 metres at 2.17 g/t from 51 metres; and 7 metres at 2.78 g/t from 57 metres. READ: Saturn Metals spins diamond drill bit at Apollo Hill

The intersections continue to identify and extend zones of improved grade with the results progressing the continuity of the outlined higher-grade hanging-wall lodes.

The position of the new drill results in plan view 

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Mon, 29 Apr 2019 12:43:00 +1000 https://www.proactiveinvestors.com.au/companies/news/219212/saturn-metals-hits-high-grade-gold-up-to-521-gt-at-apollo-hill-219212.html
<![CDATA[News - Saturn Metals assays up to 53.7 g/t gold in first batch of results ]]> https://www.proactiveinvestors.com.au/companies/news/218626/saturn-metals-assays-up-to-537-gt-gold-in-first-batch-of-results-218626.html Saturn Metals Ltd (ASX:STN) has received results for 13 holes from the 48-hole program underway at its Apollo Hill Gold Project near Leonora in Western Australia.

Results which feature 10 metres at 5.78 g/t gold have clearly defined a new higher grade lode in the hanging wall of the current resource model.

Other intersections continue to identify and extend zones of improved grade as well as extend thick and higher grade zones of mineralisation towards the surface.

Importantly, the results highlight the potential to increase the scale and quality of the current 685,000-ounce resource grading 1.0 g/t gold.

READ: Saturn Metals spins diamond drill bit at Apollo Hill

Saturn’s managing director Ian Bamborough said: “We are increasingly pleased with the results we are seeing from Apollo Hill.

“The new data is further evidence of the higher-grade architecture within the growing Apollo Hill gold system.

“We look forward to following up on these exciting developments with vigour, and to incorporating these results, and the results of our ongoing drilling, into our next resource update planned for mid to late 2019.”

More drilling planned in coming months

Saturn is planning to complete another 6,000 metres of drilling at Apollo Hill in the coming months.

Assay results from the drilling program will be reported as received in the coming weeks.

Drill results relative to the published resource

Drilling results are extending the mineralisation in new directions away from the current resource.

The program continues with about 20 holes still to be drilled and 13 holes which are complete and assays pending.

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Tue, 16 Apr 2019 10:40:00 +1000 https://www.proactiveinvestors.com.au/companies/news/218626/saturn-metals-assays-up-to-537-gt-gold-in-first-batch-of-results-218626.html
<![CDATA[News - Saturn Metals spins diamond drill bit at Apollo Hill ]]> https://www.proactiveinvestors.com.au/companies/news/217912/saturn-metals-spins-diamond-drill-bit-at-apollo-hill-217912.html Saturn Metals Ltd (ASX:STN) has resumed diamond drilling at its 100% owned Apollo Hill Gold Project near Leonora in Western Australia.

The diamond drilling follows the recently commenced reverse circulation (RC) program.

All drilling at Apollo Hill is aimed at rapidly growing its JORC resource, which stands at 20.7 million tonnes grading 1.0 g/t gold for 685,000 ounces.

This diamond program, which will initially comprise three holes for 300 metres, will be funded by the Western Australian government’s exploration incentive scheme.

READ: Saturn Metals begins new drilling program to boost gold resource

Saturn’s managing director Ian Bamborough said: “We are pleased to be able to test a couple of new ideas with this drill program. We have been planning on testing these positions for some time.

“The diamond core will provide us with a wealth of information and help us to continually improve our targeting.”

The diamond program is aimed at testing for higher grade plunging shoots in hanging-wall positions to the existing JORC resource.

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Thu, 04 Apr 2019 10:15:00 +1100 https://www.proactiveinvestors.com.au/companies/news/217912/saturn-metals-spins-diamond-drill-bit-at-apollo-hill-217912.html
<![CDATA[News - Saturn Metals begins new drilling program to boost gold resource ]]> https://www.proactiveinvestors.com.au/companies/news/217277/saturn-metals-begins-new-drilling-program-to-boost-gold-resource-217277.html Saturn Metals Ltd (ASX:STN) has commenced a new resource extension and infill drilling program at its 100%-owned Apollo Hill Gold Project near Leonora in Western Australia.

The reverse circulation (RC) drilling program will be up to 43 holes for 5,600 metres and is aimed at rapidly growing the project’s 685,000-ounce gold grading 1.0 g/t gold JORC resource.

Drilling will target higher grade positions within the broader Apollo Hill system similar to the Armstrong and Eagle Shoots in the north of the deposit discovered in 2018.

Results from the drilling will be used in Saturn’s next planned resource upgrade later in 2019.

READ: Saturn Metals’ strong drilling results extend Apollo Hill gold system

Saturn’s managing director Ian Bamborough said: “Drilling in February increased our confidence in Apollo Hill and we are pressing on with our plans to grow the resource base in 2019.

“Planned drilling will focus on improving higher grade continuity within the known mineralised corridors. We believe that an aggressive.”

A track mounted drill rig is being used to improve access to several drill pads.

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Wed, 27 Mar 2019 11:37:00 +1100 https://www.proactiveinvestors.com.au/companies/news/217277/saturn-metals-begins-new-drilling-program-to-boost-gold-resource-217277.html
<![CDATA[Media files - Saturn Metals begins drilling program at Apollo Hill to grow 685,000-ounce gold resource ]]> https://www.proactiveinvestors.com.au/companies/stocktube/12739/saturn-metals-begins-drilling-program-at-apollo-hill-to-grow-685000-ounce-gold-resource-12739.html Wed, 27 Mar 2019 01:02:00 +1100 https://www.proactiveinvestors.com.au/companies/stocktube/12739/saturn-metals-begins-drilling-program-at-apollo-hill-to-grow-685000-ounce-gold-resource-12739.html <![CDATA[News - Saturn Metals’ strong drilling results extend Apollo Hill gold system ]]> https://www.proactiveinvestors.com.au/companies/news/216432/saturn-metals-strong-drilling-results-extend-apollo-hill-gold-system-216432.html Saturn Metals Ltd (ASX:STN) has revealed positive drill results from the first reverse circulation (RC) drilling campaign for 2019 at its Apollo Hill Gold Project in the Western Australian goldfields.

The drilling returned material intersections including:

• 17 metres at 2.54 g/t gold from 82 metres;
• 21 metres at 1.0 g/t gold from 107 metres;
• 11 metres at 1.32 g/t gold from 63 metres; and
• 9 metres at 1.54 g/t gold from 62 metres.

The program, which consisted of 3,083 metres of RC drilling, has more clearly defined the main extensional structures and trends within broader step-out mineralised intersections, extending the strike length of the main Apollo Hill system by 0.5 kilometres to 1.7 kilometres.

RC drill results relative to the published resource highlighting them against structural trends on an aeromagnetic image.

The company will now seek to further infill and extend these corridors through planned drilling.

Saturn managing director Ian Bamborough said: “Importantly, drilling has highlighted a number of new areas for focus.

“Moving forward, our planned drilling will continue to home in on these exciting trends as we continue towards our goal of rapidly growing our resource base in 2019.

“Drilling is scheduled to re-commence at Apollo Hill in the coming weeks.”

 

Since listing on the ASX in March 2018, Saturn has grown the Apollo Hill resource to 20.7 million tonnes grading 1.0 g/t gold for 685,000 ounces of gold.

The company is aiming to complete 10,000 metres of drilling over the next 6-9 months, with the results to be factored into the next resource upgrade.

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Thu, 14 Mar 2019 12:12:00 +1100 https://www.proactiveinvestors.com.au/companies/news/216432/saturn-metals-strong-drilling-results-extend-apollo-hill-gold-system-216432.html
<![CDATA[News - Saturn Metals drills to upgrade resources and infill mineralisation at Apollo Hill ]]> https://www.proactiveinvestors.com.au/companies/news/214835/saturn-metals-drills-to-upgrade-resources-and-infill-mineralisation-at-apollo-hill-214835.html Saturn Metals Ltd (ASX:STN) specialises in gold exploration in Western Australia. It is run by Ian Bamborough, a geologist with more than 20 years leadership experience in the mining industry. Bamborough was a long-serving principal geologist at Newmont Mining Corporation and was previously managing director of Spectrum Metals Limited (ASX:SPX).

What does Saturn Metals own?

Saturn’s key project is the Apollo Hill Gold Project in the heart of the Eastern Goldfields district.

Apollo Hill project is 60 kilometres south-east of Leonora and extends over about 1,065 square kilometres of ground.

It is found on the Kilkenny Shear, near a number of multi-million-ounce gold deposits which total 44 million gold ounces at Leonora-Wiluna belt, 41 million gold ounces at Laverton belt and 16 million gold ounces at Kalgoorlie-Norseman belt.

Nearby mines include: St Barbara Ltd’s (ASX:SBM) (FRA:BM1) (OTCMKTS:STBMF) (OTCMKTS:STBMY) Gwalia gold mine, Gold Fields Limited’s (NYSE:GFI) (JSE:GFI) (SWX:GOLI) (OTCMKTS:GFIOF) Wallaby and Granny Smith underground gold mines, AngloGold Ashanti Limited’s (NYSE:AU) (JSE:ANG) (FRA:AOD) (OTCMKTS:AULGF) Limited’s (ASX:AGG) Sunrise Dam gold mine and Saracen Mineral Holdings Limited’s (ASX:SAR) Porphyry, Deep South and Carosue Dam operations.

Apollo Hill project contains key gold-fertile structures, including the Keith-Kilkenny Lineament which runs through contiguous tenements at the project.

The lineament gives the company a 60-kilometre strike length.

Twenty gold exploration and prospecting licences make up the ground, along with two mining leases.

The major asset at the project is the Apollo Hill 2018 JORC-compliant indicated and inferred mineral resource of 20.7 million tonnes grading 1 g/t gold for 685,000 ounces using a 0.5 g/t cut-off grade.

The upgraded resource at Apollo Hill zone extends to a maximum depth of 180 metres below the surface.

Apollo Hill is accessible by the Goldfields highway and a mix of dirt and station roads and historical mining tracks.

Saturn views the project as an underexplored large-scale district gold play that has been underdone in the past due to once-dispersed holdings and fluctuating commodity cycles.

The company also describes infrastructure at the project as excellent.

Follow-up drilling was started at Apollo Hill project last week.

Saturn’s 3,600-metre reverse circulation (RC) program aims to rapidly grow the project’s existing resource by infilling mineralisation corridors to the north and south of the Apollo Hill system.

The company believes there is potential to grow the mineral resources of Apollo Hill zone and add Ra zone resources to its estimate.

Saturn’s geological interpretation work is outlining the potential for higher grade structurally-controlled gold lodes at the two zones within the greater Apollo gold system.

Drill results could prompt an upgrade to the estimate's grade profile, with opportunities for narrower vein, high-grade gold.

Ra zone intersections returned in the December quarter included: 27 metres grading 1.12 g/t gold from 61 metres, including 11 metres at 2.1 g/t from 66 metres at Tefnut prospect; and 7 metres grading 1.19 g/t from 61 metres at Wadjet prospect.

Saturn’s latest RC program follows on from a maiden aircore regional drilling program started in the last week of January to find new gold targets.

An initial 5,000 metres of aircore drilling on priority-one drill lines was expected from the campaign due to end this month and expecetd to produce 125-holes.

Saturn’s December quarter successes from regional exploration efforts included: a 12.1 g/t rock chip in newly identified quartz reef at the Hermes prospect in the southern leases; a 250-metre-long gold soil anomaly grading more than 20 parts per billion at the Athena prospect in the central leases; and 0.3 g/t and 0.1 g/t rock chips on the unexplored northerly extension of the Apollo Shear at Hades, 8 kilometres along strike of Apollo Hill.

A further 5,000-metres of aircore drilling is also planned as follow-up.

Saturn held ended $3.4 million cash at the end of last year after spending $519,000 on exploration and evaluation in the December quarter.

The company expects cash outflows of $905,000 in the March quarter as it spends $702,000 on exploration in the period.

Inflection points

Returned assays from RC and aircore drilling efforts at Apollo Hill and Ra zones and regional prospects

Total mineral resource updates for Apollo Hill project

Project acquisitions, strategic investments and any merger-and-acquisitions activity

Managing director Ian Bamborough flags higher grade potential

“Significant potential exists to find higher grade zones between the step-out intersections reported in December last year and the northern and southern ends of the current Apollo Hill resource envelope,” Saturn managing director Ian Bamborough said last week.

“That is what particularly excites us about this new program.”

Saturn managing director Ian Bamborough will deliver a presentation tomorrow at 4.30pm on day 2 of the February 19-21 RIUExplorersConference 2019 at Esplanade Hotel Fremantle. You can find the company at stand 17.

 

 

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Mon, 18 Feb 2019 22:25:00 +1100 https://www.proactiveinvestors.com.au/companies/news/214835/saturn-metals-drills-to-upgrade-resources-and-infill-mineralisation-at-apollo-hill-214835.html
<![CDATA[News - Saturn Metals resumes drilling to expand gold resource at Apollo Hill ]]> https://www.proactiveinvestors.com.au/companies/news/214589/saturn-metals-resumes-drilling-to-expand-gold-resource-at-apollo-hill-214589.html Saturn Metals Ltd (ASX:STN) has resumed resource expansion drilling yesterday at its Apollo Hill Gold Project near Leonora in Western Australia.

The newly planned 3,600-metre reverse circulation (RC) program aims to rapidly grow the 20.7 million tonnes grading 1.0 g/t gold for 685,000 ounces resource.

Following the completion of broad-spaced step-out drilling that confirmed the continuation of the Apollo Hill system, to the north and south late last year, the new program will seek to infill these corridors of mineralisation.

READ: Saturn Metals managing director shows confidence with on-market share purchase

Saturn’s managing director Ian Bamborough said: “Significant potential exists to find higher grade zones between the step-out intersections reported in December last year and the northern and southern ends of the current Apollo Hill resource envelope.

“That is what particularly excites us about this new program.”

READ: Saturn Metals begins aircore drilling at Apollo Hill Gold Project in the Goldfields

Around two weeks ago, Saturn commenced a maiden aircore drilling program at the Apollo Hill designed to find new gold targets

The program comprises an initial 5,000 metres of aircore drilling on priority one drill lines with an additional 5,000 metres planned as follow-up.

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Thu, 14 Feb 2019 10:40:00 +1100 https://www.proactiveinvestors.com.au/companies/news/214589/saturn-metals-resumes-drilling-to-expand-gold-resource-at-apollo-hill-214589.html
<![CDATA[News - Saturn Metals managing director shows confidence with on-market share purchase ]]> https://www.proactiveinvestors.com.au/companies/news/214228/saturn-metals-managing-director-shows-confidence-with-on-market-share-purchase-214228.html Saturn Metals Ltd (ASX:STN) managing director Ian Bamborough has purchased 63,941 fully paid ordinary shares on-market.

The transaction brings Bamborough’s total holding to 63,491 direct shares, 1.5 million indirect and 3.5 million share options.

 

Saturn recently begun a maiden aircore drilling program at its Apollo Hill Gold Project near Leonora in Western Australia.

Drilling will focus on high-priority geochemical, geophysical, geological and historical drilling prospects defined during extensive targeting work in 2018.

The program comprises an initial 5,000 metres of drilling on priority-one drill lines with an additional 5,000 metres planned as follow-up.

Saturn upgraded Apollo Hill’s mineral resource by 36% during the December quarter, now reporting an estimate of 20.7 million tonnes at 1 g/t gold containing 685,000 ounces.

READ: Saturn Metals begins aircore drilling at Apollo Hill Gold Project in the Goldfields

Bamborough said: “We have been looking forward to testing these greenfields targets for some time.

“This program of drilling is designed to find new and exciting gold systems across our extensive land package as well as to complement our ongoing work at the Apollo Hill resource area.

“Our confidence and geological understanding in this part of the greenstone belt continues to grow and subject to positive assays, we look forward to demonstrating the greater potential of the Apollo Hill project.”

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Thu, 07 Feb 2019 23:21:00 +1100 https://www.proactiveinvestors.com.au/companies/news/214228/saturn-metals-managing-director-shows-confidence-with-on-market-share-purchase-214228.html
<![CDATA[News - Saturn Metals begins aircore drilling at Apollo Hill Gold Project in the Goldfields ]]> https://www.proactiveinvestors.com.au/companies/news/213670/saturn-metals-begins-aircore-drilling-at-apollo-hill-gold-project-in-the-goldfields-213670.html Saturn Metals Ltd (ASX:STN) has begun a maiden aircore drilling program at the Apollo Hill Gold Project near Leonora, Western Australia.

Drilling will focus on high priority geochemical, geophysical, geological and historical drilling prospects defined during extensive targeting work in 2018.

The program comprises an initial 5,000 metres of aircore drilling on priority one drill lines with an additional 5,000 metres planned as follow-up.

Targeting “new and exciting systems”

Saturn Metals managing director Ian Bamborough said: “We have been looking forward to testing these greenfields targets for some time.

“This program of drilling is designed to find new and exciting gold systems across our extensive land package as well as to complement our ongoing work at the Apollo Hill resource area.

“Our confidence and geological understanding in this part of the greenstone belt continues to grow and subject to positive assays, we look forward to demonstrating the greater potential of the Apollo Hill project.”

Results being followed up on include:

Robust soil sample results associated with gold prospective syenite trends including assays of 937ppb and 439ppb;

Strong historical drill results including 7 metres at 1.16 g/t gold from 63 metres; and

A 250-metre long +20ppb gold soil anomaly at Athena prospect.

READ: Saturn Metals aims for further gold resource expansion at Apollo Hill after 2018 resource upgrade

During the December 2018 quarter the company upgraded the mineral resource by 36% and the deposit grade by 14%.

The resource now comprises 20.7 million tonnes at 1 g/t gold containing 685,000 ounces.

A total of 3.3 million tonnes at 1.1 g/t was upgraded to the indicated category, representing a conversion of 22% of the previous inferred mineral resource.

READ: Saturn Metals eyes expansion of Apollo Hill gold resource and discovery of new deposits

Saturn’s dual strategy to develop the project includes simultaneously working to grow the mineral resource and discover new deposits.

Step out reverse circulation (RC) drilling during the quarter also further highlighted the potential to grow Apollo Hill’s mineral resource.

Bamborough added: “Improvements in grade, ounces, tonnes, quality and JORC code category, all with minimal drilling and at a low discovery cost per ounce, bode well for the development of our business.”

- Jessica Cummins 

 

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Wed, 30 Jan 2019 22:46:00 +1100 https://www.proactiveinvestors.com.au/companies/news/213670/saturn-metals-begins-aircore-drilling-at-apollo-hill-gold-project-in-the-goldfields-213670.html
<![CDATA[News - Saturn Metals aims for further gold resource expansion at Apollo Hill after 2018 resource upgrade ]]> https://www.proactiveinvestors.com.au/companies/news/213573/saturn-metals-aims-for-further-gold-resource-expansion-at-apollo-hill-after-2018-resource-upgrade-213573.html Saturn Metals Ltd (ASX:STN) advanced development at its Apollo Hill Gold Project in Western Australia during the December 2018 quarter, upgrading the mineral resource by 36% and the deposit grade by 14%.

The upgraded resource estimate now comprises 20.7 million tonnes at 1 g/t gold containing 685,000 ounces.

A total of 3.3 million tonnes at 1.1 g/t (containing 116,000 ounces) was upgraded to the indicated category, representing a conversion of 22% of the previous inferred mineral resource.

The rapid growth in Apollo Hill’s mineral resource reflects important breakthroughs in the understanding of the deposit’s geological controls.

 

Step-out reverse circulation (RC) drilling during the quarter further highlighted the potential to grow Apollo Hill’s mineral resource.

At the Ra zone, intersections 1 kilometre along strike to the south and north included: 27 metres at 1.12 g/t from 61 metres, including 11 metres at 2.1 g/t from 66 metres; and 7 metres at 1.19 g/t from 61 metres.

In addition, widely-spaced shallow drill intercepts about 150-300 metres along strike from Apollo Hill’s main deposit outlined a 300-metre-wide corridor of mineralisation requiring infill drilling.

Follow-up resource extension RC drilling is due to restart in early February with a 35-hole, 3,600-metre program planned.

READ: Saturn Metals eyes expansion of Apollo Hil gold resource and discovery of new deposits

Regional exploration in the December quarter focused on geochemistry and mapping at the Hermes, Athena and Hades prospects.

Significant geochemical anomalies returned include:

A 12.1 g/t rock chip in newly-identified quartz reef at Hermes;

A 250-metre-long plus-20 ppb gold soil anomaly at Athena; and

A 0.3 g/t and a 0.1 g/t rock chip collected on the completely unexplored northerly extension of the Apollo shear at Hades, 8 kilometres along strike of Apollo Hill.

Saturn will soon begin a 5,000-metre, 125-hole aircore drilling program to test these emerging regional targets.

Prospective tenure

The company’s cash position at December 31 last year was $3.38 million and it was also awarded a $35,000 grant in the last round of the WA Government’s exploration incentive scheme.

Saturn currently has 56.5 million shares on issue and was last trading at 16 cents a share.

Apollo Hill comprises 20 gold exploration and prospecting licences covering about 1,065 square kilometres, as well as two mining leases.

Access to the project is via Kalgoorlie along the goldfields highway and is accessible through a network of dirt roads, station roads and historical mining tracks.

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Tue, 29 Jan 2019 23:29:00 +1100 https://www.proactiveinvestors.com.au/companies/news/213573/saturn-metals-aims-for-further-gold-resource-expansion-at-apollo-hill-after-2018-resource-upgrade-213573.html
<![CDATA[Media files - Saturn Metals has a dual strategy to develop its large-scale Apollo Hill Gold Project ]]> https://www.proactiveinvestors.com.au/companies/stocktube/11684/saturn-metals-has-a-dual-strategy-to-develop-its-large-scale-apollo-hill-gold-project-11684.html Fri, 21 Dec 2018 14:59:00 +1100 https://www.proactiveinvestors.com.au/companies/stocktube/11684/saturn-metals-has-a-dual-strategy-to-develop-its-large-scale-apollo-hill-gold-project-11684.html <![CDATA[News - Saturn Metals eyes expansion of Apollo Hill gold resource and discovery of new deposits ]]> https://www.proactiveinvestors.com.au/companies/news/211368/saturn-metals-eyes-expansion-of-apollo-hill-gold-resource-and-discovery-of-new-deposits-211368.html Saturn Metals Ltd (ASX:STN) has planned to recommence resource extensional and infill drilling in mid- January 2019 at its Apollo Hill Gold Project near Leonora in Western Australia.

The company recently completed an updated resource estimate for the Apollo Hill gold deposit, part of the Apollo Hill Gold Project.

Apollo Hill location, Saturn’s tenements and surrounding gold deposits and infrastructure

The upgraded resource totals 20.7 million tonnes at 1.0 g/t gold for 685,000 ounces, a 36% increase in contained ounces from the previously published resource.

It incorporates the results of a highly successful 72-hole, 9,444 metre extensional and in-fill drilling campaign completed following Saturn’s listing on the ASX in March 2018.

Importantly, a portion of the Apollo Hill resource - 3.3 million tonnes at 1.1 g/t gold for 116,000 ounces - has been declared in the higher confidence indicated resource category.

Resource additions have been made at a discovery cost of only US$6.77 per ounce. This compares favourably to the global gold industry average.

Apollo Hill discovery cost per resource ounce as compared to other deposits

Saturn’s strategy moving forward is to target an expansion of the Apollo Hill gold deposit and look for new deposits across its regional land package before initiating a scoping study.

Saturn managing director Ian Bamborough recently said: “This resource upgrade is a significant step for the company and the Apollo Hill asset only a short while after listing.

“Improvements in grade, ounces, tonnes, quality and JORC Code category, all with minimal drilling and at a low discovery cost per ounce, bode well for the development of our business.

“With some of the strongest intersections located at both the northern and southern extent of the deposit, the system is wide open for rapid expansion.”

Step out gold intercepts

Following the resource upgrade, step out reverse circulation drilling along the Apollo Hill and Ra zones has highlighted the potential to grow the mineral inventory.

Of interest are intersections at the newly named Tefnut and Wadjet zones some 1 kilometre along strike from the Ra zone. Intercepts include:
• 27 metres at 1.12 g/t gold from 61 metres including 11 metres at 2.10 g/t gold from 66 metres (Tefnut Prospect); and
• 7 metres at 1.19 g/t gold from 61 metres (Wadjet Prospect).

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Tue, 18 Dec 2018 16:58:00 +1100 https://www.proactiveinvestors.com.au/companies/news/211368/saturn-metals-eyes-expansion-of-apollo-hill-gold-resource-and-discovery-of-new-deposits-211368.html
<![CDATA[News - Saturn Metals' high-grade results likely to increase Apollo Hill gold bounty ]]> https://www.proactiveinvestors.com.au/companies/news/201505/saturn-metals-high-grade-results-likely-to-increase-apollo-hill-gold-bounty-201505.html Saturn Metals Ltd (ASX:STN) will utilise high-grade gold results to re-estimate the resource at its Apollo Hill project near Leonora in Western Australia.

The company has received material assays from the first diamond drill holes at the project, which is in the prolific Goldfields region.

Drilling focused on higher-grade structural zones or shoots within the main deposit, which has a JORC-compliant inferred resource of 17.2 million tonnes at 0.9 g/t gold for 505,000 ounces.

Geological continuity within the higher-grade Armstrong Shoot was identified by the 9-hole program and Saturn is testing this position with follow-up reverse circulation drilling.

READ: Saturn Metals accelerates drilling at Apollo Hill Gold Project

Saturn managing director Ian Bamborough said: “Results continue to outline better grades within specific parts of the Apollo Hill gold system and we look forward to seeing how they affect our resource re-calculation in the coming months.”

Best results include: 7.4 metres at 2.01 g/t gold from 220.5 metres; 11.2 metres at 1.77g/t from 173.8 metres, within 24.2 metres at 1.22 g/t from 173.8 metres; and 3.8 metres at 2.05 g/t from 89 metres, including 0.5 metres at 15.6 g/t from 92.3 metres.

The program also delineated several other wider zones of Apollo Hill style gold mineralisation with significant intersections including 7.8 metres at 1.12 g/t from 85 metres and 15 metres at 0.8 g/t from 146 metres.

READ: Saturn Metals intercepts visible gold in first diamond hole at Apollo Hill

Assays remain pending for four diamond drill holes which tested distinctly different positions within the Apollo Hill project area.

The company considers all the results to be significant and will use them in its upcoming resource re-calculation, which is expected to be complete later in 2018.

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Wed, 25 Jul 2018 01:29:00 +1000 https://www.proactiveinvestors.com.au/companies/news/201505/saturn-metals-high-grade-results-likely-to-increase-apollo-hill-gold-bounty-201505.html
<![CDATA[News - Saturn Metals accelerates drilling at Apollo Hill Gold Project ]]> https://www.proactiveinvestors.com.au/companies/news/201195/saturn-metals-accelerates-drilling-at-apollo-hill-gold-project-201195.html Saturn Metals Ltd (ASX:STN) has begun a second phase of reverse circulation (RC) drilling at its Apollo Hill Gold Project, near Leonora in Western Australia.

The company has mobilised two drill rigs to site to accelerate completion of the program, which will comprise around 4,000 metres in 35 holes.

Results to support new resource estimation

Drilling will focus along a 250-metre southern extension corridor to the 1.1-kilometre long resource zone, but will also look to extend mineralisation to the north where drilling remains open.

It will also follow-up on recent high-grade shoot intersections, including one assay of 20 metres at 2.5 g/t gold from 52 metres.

Saturn Metals managing director Ian Bamborough said the program was in keeping with Saturn’s objective of growing the Apollo Hill gold system.

He said: “We look forward to reporting results in due course and to including them in our new resource estimation.”

The drilling program is expected to be complete in 2-3 weeks.

  READ: Saturn Metals intercepts visible gold in first diamond hole at Apollo Hill

Saturn Metals recently saw multiple visible gold intercepts in the first diamond tail completed at the project.

The visible gold was supported by 3D X-ray scans which showed the presence of additional interpreted gold grains.

The current Apollo Hill inferred resource is 17.2 million tonnes at 0.9 g/t gold, containing 500,000 ounces.

Apollo Hill is around 60 kilometres southeast of Leonora in Western Australia’s goldfields region.

The project is surrounded by excellent infrastructure and several significant gold deposits and operations.

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Thu, 19 Jul 2018 23:13:00 +1000 https://www.proactiveinvestors.com.au/companies/news/201195/saturn-metals-accelerates-drilling-at-apollo-hill-gold-project-201195.html
<![CDATA[News - Saturn Metals intercepts visible gold in first diamond hole at Apollo Hill ]]> https://www.proactiveinvestors.com.au/companies/news/200028/saturn-metals-intercepts-visible-gold-in-first-diamond-hole-at-apollo-hill-200028.html Saturn Metals Ltd (ASX:STN) has seen multiple visible gold intercepts in the first diamond tail completed at its Apollo Hill project in heart of Western Australia’s Goldfields region.

The visible intercepts were noted on the outer surfaces of the drill core at 174.7 metres, 184 metres, 197.1 metres and 197.8 metres.

The whole drill core has been submitted for analysis and the company expects to announce the full assay results, which will include a further 8 drill holes, in the coming weeks.

3D scanning shows presence of gold grains

Shares were up more than 12% intra-day to 18 cents.

The visible gold has been supported by a 3D X-ray scan of a 20-metre section of core from the diamond tail, which showed the presence of additional interpreted gold grains.

Gold indications were found over the entire 20-metre section, with grains scanned at 181.7 metres, 184.21 metres, 184.45 metres, 197.2 metres and 201.25 metres.

Saturn managing director Ian Bamborough said the company was pleased with unusually high number of gold indications seen in the core so far.

Scanning was done with Swick Mining Services’ (ASX:SWK) Orexplore GeoCore X10 core scanning technology.

Saturn is the first company to enter into a commercial agreement with Swick over the Orexplore technology, which uses a non-destructive attenuation and X-ray fluorescence combined measurement technique to enhance the identification and understanding of key features within the entire core.

Saturn managing director Ian Bamborough said the company was pleased with unusually high number of gold indications seen in the core so far.

“The GeoCore X10 scan has provided us with additional confidence in our interpretations, some timely geological targeting information for the start of our upcoming RC program and a great data set for the deposits apparently simple metallurgical development,” he added.

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Tue, 03 Jul 2018 17:50:00 +1000 https://www.proactiveinvestors.com.au/companies/news/200028/saturn-metals-intercepts-visible-gold-in-first-diamond-hole-at-apollo-hill-200028.html