Saturn Metals, a member of the Gold Industry Group, recently shared promising results from its drilling activities at the Apollo Hill gold project in Western Australia.
The company discovered significant high-grade gold intersections near surface. Notably, one intersection measured 16.6 meters with an impressive grade of 14.5 grams per tonne (g/t) gold, from a depth of 11 meters. This includes an even higher grade section of 11.1 meters at 21.55 g/t gold, from 16.1 meters. Another significant discovery was 18.6 meters at 0.9 g/t gold from surface, with one section including 11 meters at 1.33 g/t gold at a depth of two meters.
These encouraging results suggest a potential near-term improvement in the Company's Measured Mineral Resource Estimate (MRE). The results also revealed opportunities to discover higher grade ores in the deposit.
Saturn Managing Director Ian Bamborough highlighted the consistency of strong intersections and the discovery of higher grade pockets within the deposit. He expressed optimism about the ongoing development of the Apollo Hill project, expecting further positive results from the exploration drilling and resource development programs planned for the year.
Currently, the Apollo Hill project has an increasing MRE of 105 million tonnes at 0.64 grams per tonne gold, for a total of 1.8 million ounces. Saturn Metals plans to incorporate these latest results into future upgrades to the Apollo MRE, with the next update expected after further drilling activities planned for late 2023 and early 2024.
Reflecting the positive sentiment, STN shares saw an increase of 7.69 per cent, trading at 14 cents at 11:04 a.m. AEDT. This development not only highlights the progress of Saturn Metals, but will also positively influence the vital role they play in the advancement of the gold sector as a member of the Gold Industry Group.