Saturn Metals Unveils Promising Drill Results at Apollo Hill Gold Project
STN (STN) Share Update November 2024 Tuesday 12th
Saturn Metals Announces Significant Drill Results at Apollo Hill
Saturn Metals Limited (ASX: STN) has announced significant drill results from its Apollo Hill Gold Project, highlighting the site's potential for development and expansion.
Instant Summary:
- Significant gold intersections include 11m @ 2.39g/t Au and 45m @ 1.04g/t Au.
- Drilling confirms mineralisation continuity and grade enhancements.
- Results will inform future resource estimates and prefeasibility study.
- Interim resource upgrade for Apollo Hill's 1.84Moz planned for 2024.
- Additional 31,000m of drilling scheduled with pending assays from 47 holes.
Drill Results and Implications
Saturn Metals Limited has released promising drill results from its Apollo Hill Gold Project, located in Western Australia. The results include high-grade gold intersections, such as 11 meters at 2.39 grams per tonne (g/t) gold from 158 meters and 45 meters at 1.04 g/t gold from 190 meters. These findings demonstrate the potential for significant resource development at Apollo Hill.
The drilling program, which focused on reverse circulation (RC) drilling, has confirmed the continuity of mineralisation across the deposit and provided localized grade enhancements. These results are crucial as they will be integrated into a future resource estimate, which is part of Saturn's bulk tonnage heap leach prefeasibility study anticipated for mid to late 2025.
Resource Expansion and Future Plans
Currently, Saturn Metals is working on an interim upgrade of Apollo Hill's Mineral Resource, which stands at 1.84 million ounces. This upgrade, expected later this year, will incorporate results from 34 holes and 9,402 meters of extensional drilling. The recent announcement includes results from 8 drill holes and 2,399 meters of assays, all of which reported significant intersections above the average resource grade.
In addition to the current findings, Saturn Metals has pending assays from 47 holes and 7,100 meters completed so far. The company has scheduled an additional 31,000 meters of drilling with three RC rigs and a diamond rig currently on site. This extensive drilling program aims to further explore and define the Apollo Hill deposit, enhancing its development potential.
Regional Exploration Efforts
Alongside the Apollo Hill Project, Saturn Metals is conducting regional exploration across its 1,000 square kilometer land package. Aircore drilling results from wide-spaced regional drill lines have identified important extensional gold trends in previously unexplored areas south of Apollo Hill. This regional exploration highlights the scale and prospectivity of a major gold system largely undercover.
The company has completed a 10,000-meter drill campaign, with significant results reported, including a best bedrock drill result of 1 meter at 0.19 g/t gold. These findings warrant further infill drilling to evaluate the prospective trends identified to date.
The significant drill results at Apollo Hill are likely to positively impact Saturn Metals' stock as they underscore the project's development potential. The continuity of mineralisation and grade enhancements suggest a robust resource, which could attract investor interest and confidence. The upcoming resource estimate and prefeasibility study will be key milestones for the company.
Investor Reaction:
Analysts are expected to react positively to the drill results, given the demonstrated continuity and grade improvements at Apollo Hill. The extensive drilling program and regional exploration efforts further enhance the project's attractiveness, potentially leading to increased investor interest.
Conclusion:
Investors should keep an eye on Saturn Metals' upcoming resource upgrade and prefeasibility study for Apollo Hill. These developments could significantly influence the company's market position and stock performance. Staying informed on Saturn Metals' progress will be crucial for making informed investment decisions.