viewSaturn Metals Ltd

Saturn Metals resumes Apollo Hill exploration drilling with aim to expand hanging wall zones

Having finished the June 2019 quarter with $2.7 million in cash and raising $3.2 million through a placement in late August, the company is well-funded to accelerate drilling activity.

Saturn Metals Ltd - Saturn Metals begins step-out exploration drilling at Apollo Hill expanding high-grade hanging wall zones
The program is aimed at building on the rapidly unfolding exploration picture at Apollo Hill as well as adding to the mineral resource

Saturn Metals Ltd (ASX:STN) has resumed exploration drilling at Apollo Hill Gold Project near Leonora in WA’s Goldfields focusing on expanding newly discovered high-grade shallow hanging wall zones.

An aggressive program of 70 holes for up to 13,000 metres of reverse circulation (RC) drilling began at Apollo Hill yesterday with the aim of growing the project’s mineral resource.

Drilling will initially focus on testing step-out areas where recent mapping and rock chip sampling have indicated a much bigger geological picture.

“Extremely encouraged by results”

Managing director Ian Bamborough said: “We are extremely encouraged by the results we have seen to date from the recently discovered hanging wall zones and as a result, we are once again stepping up exploration efforts.

“This new program of drilling will further test the potential of those zones and could deliver another step-change in the size and grade of the Apollo Hill gold system.”

Drilling is planned to aggressively follow up on recent high-grade intersections including:

  • 17 metres at 2.96 g/t gold from 41 metres, including 10 metres at 4.82 g/t from 45 metres and 4 metres at 9.31 g/t from 51 metres;
  • 7 metres at 6.59 g/t from 34 metres within 35 metres at 1.67 g/t from 34 metres; and
  • 8 metres at 4.26 g/t from 16 metres.

The company will provide further information from the exploration and resource drilling at Apollo Hill as results are received and analysed.

An upgrade of the existing JORC 2012-compliant 685,000-ounce Apollo Hill mineral resource, including results from the recently discovered hanging wall lodes, is due soon.

Quick facts: Saturn Metals Ltd

Price: 0.88 AUD

Market: ASX
Market Cap: $77.4 m

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on 2/5/19

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