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

The company is drilling for gold across its Apollo Hill land package in Western Australia’s Goldfields.
Saturn Metals managing director shows confidence with on-market share purchase
Saturn was last trading at 20 cents a share

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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