THE DRILL SERGEANT: Saturn Metals (ASX: STN) announced the commencement of a maiden Reverse Circulation (RC) drilling program at the company’s 100 per cent-owned Apollo Hill gold project in the Western Australian goldfields.
Saturn Metals carried out a re-interpretation of historical drill data from Apollo Hill, from which it has highlighted the potential for several stacked, higher grade plunging shoots within the greater gold system.
The recently-listed company indicated that drilling will specifically follow up on historic intersections including:
2 metres at 69.6 grams per tonne gold from 146m; and
5.3m at 10.3g/t gold from 70.7m.
Saturn Metals intends testing these targets from two new drill orientations optimal to the new geological interpretations.
The company declared an additional objective of the drill program, which will be to identify further mineralisation and gather information for use in the calculation of a new resource for the project.
An updated Resource is anticipated to be ready to announce in mid to late 2018.
Drilling will also step out along strike to the north and south where only shallow aircore drilling has tested the mineralised Apollo Hill fault zone beneath the cover sequence.
“We are excited to start drilling and test some of the new theories that have been developed in the process of preparing the company for listing on the ASX,” Saturn Metals managing director Ian Bamborough said in the company’s announcement to the Australian Securities Exchange.
“The drill program, whilst providing the required information for the next resource calculation, also has the potential to further unlock the geological understanding of the prospect and highlight a significant new style of higher-grade gold target.”
Saturn has approximately 3,000m of RC drilling planned in this initial phase of exploration, with the program estimated to take three to four weeks to complete.
A follow-up phase of diamond drilling has already been scheduled for May 2018.