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THE DAILY ROADHOUSE

Stavely Minerals Undertaking $19.6 Million Raising

THE BOURSE WHISPERER: Stavely Minerals (ASX: SVY) is conducting a capital raising of $19.6 million by way of a share placement of 19.6 million shares at $1.00 per share.

Saturn Metals Upgrades Apollo Hill Gold Resource

THE DRILL SERGEANT: Saturn Metals (ASX: STN) has completed an updated Mineral Resource estimate for the Apollo Hill gold deposit at the company’s 100 per cent-owned Apollo Hill gold project near Leonora in the Western Australian Goldfields.

Meteoric Resources Continues Juruena Golden Run

THE DRILL SERGEANT: Meteoric Resources (ASX: MEI) announced the latest batch of assays from the company’s 100 per cent-owned Juruena gold project in Brazil.

Auroch Minerals Progresses Saints Nickel Project Drill Program

THE DRILL SERGEANT: Auroch Minerals (ASX: AOU) kept the market up to date on the progress of its maiden drilling program underway at the company’s recently-acquired Saints nickel project near Kalgoorlie in Western Australia.

Independence Group Teams up with Apollo Consolidated at Louisa Nickel Sulphide Project

THE BOURSE WHISPERER: Independence Group (ASX: IGO) has entered a farm-in and joint venture with Apollo Consolidated Limited (ASX: AOP).

 

Saturn Metals Upgrades Apollo Hill Gold Resource

THE DRILL SERGEANT: Saturn Metals (ASX: STN) has completed an updated Mineral Resource estimate for the Apollo Hill gold deposit at the company’s 100 per cent-owned Apollo Hill gold project near Leonora in the Western Australian Goldfields.

The upgraded Mineral Resource totals 24.5 million tonnes at 1 gram per tonne gold for 781,000 ounces of gold.

Saturn Metals highlighted the increase in contained ounces from its previously published resource as it incorporates the results of a 152-hole, 18,600m extensional and in-fill drilling campaign completed since the last Mineral Resource upgrade published in mid-November 2018.

The updated Resource contains an addition of 96,000 ounces of gold from the previous Inferred and Indicated Mineral Resource.

Based on the additional drilling, a total of 9.2 million tonnes at 1g/t gold for 298,000 ounces is now classified as an Indicated Mineral Resource representing 38 per cent of the total Mineral Resource and a 250 per cent increase from the previous Indicated Mineral Resource.

Saturn Metals has now added 276,000 ounces to the Apollo Hill Mineral Resource in approximately 18 months with 28,000m of RC and diamond drilling.

“This resource upgrade is another significant step for the company and the Apollo Hill asset only a short while since listing,” Saturn Metals managing director Ian Bamborough said in the company’s announcement to the Australian Securities Exchange.

“Improvements in localised grade, ounces, tonnes, quality and Mineral Resource categories, all with efficient drilling and at an effective discovery cost per ounce, bode well for the development of our business.

“With some of the strongest intersections located in the newly discovered higher-grade hanging-walls, the system is wide open for rapid expansion.

“Drilling has already resumed to test these and other step out targets and results from this expansionary phase of our journey will be reported in due course.”

Resource additions since Saturn listed on the ASX in March 2018 have been made at a rate of 9.8 gold ounces for every metre drilled and modelled.

The company’s strategy moving forward is to target further expansion of the Apollo Hill gold deposit and look for new deposits across its regional land package before initiating a scoping study.

 

Email: info@saturnmetals.com.au

Web: www.saturnmetals.com.au

 

Saturn Metals Drilling Encouraging Results at Apollo Hill

THE CONFERENCE CALLER: Saturn Metals (ASX: STN) has had a stellar 12 months since we last caught up with the company at last year’s Diggers & Dealers Conference.

Saturn Metals recently announced it had encountered additional strong drill results from a RC drilling campaign currently underway at the company’s 100 per cent-owned Apollo Hill gold project near Leonora in the Western Australian goldfields.

The company’s interpretation of the drilling has shown geology and assays outlining several hanging-wall splays defined over 800 metres of strike length.

The system is open at depth, down plunge and along strike.

Saturn Metals managing director Ian Bamborough sat down with the Resources Roadhouse at the 2019 Diggers & Dealers Mining Forum in Kalgooorlie to expand on the recent drilling and to provide some insight into what’s next.

 

 

Email: info@saturnmetals.com.au

Web: www.saturnmetals.com.au

 

Saturn Metals Makes Strong Gold Intersections at Apollo Hill

THE DRILL SERGEANT: Saturn Metals (ASX: STN) announced drill results from holes 14 to 24 of a planned 48-hole, RC and diamond drilling campaign underway at the company’s 100 per cent-owned Apollo Hill gold project, near Leonora in the Western Australian goldfields.

Results include:

AHRC0128
26 metres at 1.19 grams per tonne gold from 1m, including 10m at 2.1g/t gold from 8m; and

AHRC135
22m at 1.5g/t gold from 128m, including 12m at 2.33g/t gold from 128m.

Saturn Metals said the results would help it define a continuous higher grade (+2g/t gold) lode on the footwall side of the Apollo Hill Resource envelope.

“These excellent results will be a great addition to our next resource update planned for the second half of 2019,” Saturn Metals managing director Ian Bamborough said in the company’s announcement to the Australian Securities Exchange.

“It is great to see the continuity of improved grade within the current resource envelope.

“In addition, further strong intersections such as AHRC0127 returning 6 metres at 5.21 grams per tonne gold from 37m in the hanging wall zone, continue to give us cause for excitement.”

Saturn Indicated it was planning to complete another 5,000 metres of drilling at Apollo Hill in the coming months.

Assay results from the ongoing drilling program will be reported as received.

 

Email: info@saturnmetals.com.au

Website: www.saturnmetals.com.au

 

Saturn Metals Resumes Apollo Hill Resource Drilling

THE DRILL SERGEANT: Saturn Metals (ASX: STN) is back out on the ground having resumed resource extension and infill drilling at the company’s 100 per cent-owned Apollo Hill gold project, near Leonora in the Western Australian goldfields.

Saturn Metals is undertaking a new program of up to 3,600 metres of reverse circulation (RC) drilling at Apollo Hill as it looks to rapidly grow the project’s Mineral Resource, which currently stands at 20.7 million tonnes grading 1 gram per tonne gold for 685,000 ounces.

This round of drilling follows broad-spaced step-out drilling the company carried out last year that confirmed the continuation of the Apollo Hill system, to the north and south.

The company explained the new program will seek to infill these corridors of mineralisation.

“Significant potential exists to find higher grade zones between the step-out intersections reported in December last year and the northern and southern ends of the current Apollo Hill resource envelope,” Saturn Metals managing director Ian Bamborough said in the company’s announcement to the Australian Securities Exchange.

“That is what particularly excites us about this new program.”

Saturn indicated it would provide further information from the resource extension drilling and the regional aircore program that is taking place concurrently at Apollo Hill as results are received and analysed.

 

Email: info@saturnmetals.com.au

Website: www.saturnmetals.com.au

 

Saturn Metals Increases Apollo Hill Resource

THE DRILL SERGEANT: Saturn Metals (ASX: STN) completed an updated Mineral Resource estimate for the Apollo Hill gold deposit, part of the company’s 100 per cent-owned Apollo Hill gold project near Leonora in the Western Australian Goldfields.

Sturn Metals’ upgraded Mineral Resource for Apollo Hill totals 20.7 million tonnes at 1 gram per tonne gold for 685,000 ounces.

This represents a 36 per cent increase in contained ounces from the company’s previously published resource.

The new Resource incorporates the results of a 72-hole extensional and in-fill drilling campaign Saturn Metals completed earlier this year.

The company said it already has drilling in progress to further test the extents of the Apollo Hill gold system, adding that the drilling to date on the six-kilometre Apollo Hill trend is only a small part of the exploration potential on Saturn’s underexplored 1,000 square kilometre, 100 per cent-owned contiguous tenement package.

“This resource upgrade is a significant step for the company and the Apollo Hill asset only a short while after listing,” Saturn Metals managing director Ian Bamborough said in the company’s announcement to the Australian Securities Exchange.

“Improvements in grade, ounces, tonnes, quality and JORC Code category, all with minimal drilling and at a low discovery cost per ounce, bode well for the development of our business.

“With some of the strongest intersections located at both the northern and southern extent of the deposit, the system is wide open for rapid expansion.

“Drilling has already resumed to test these targets and results from this expansionary phase of our journey will be reported in due course.”

 

Email: info@saturnmetals.com.au

Website: www.saturnmetals.com.au

 

Saturn Metals Drilling at Apollo Hill

THE DRILL SERGEANT: Saturn Metals (ASX: STN) announced the commencement of a new phase of exploratory RC drilling at the company’s wholly owned Apollo Hill gold project, near Leonora in the Western Australian goldfields.

Saturn Metals has completed earlier drilling at the project, from which it has determined it to be a major gold and alteration system wide open for expansion

Recent drilling results from the northern end of Apollo Hill, include:

AHRC0036
10 metres at 2.98 grams per tonne gold from 92m within 28m at 1.2g/t gold from 82m.

At the southern end of the deposit drilling encountered:

AHRC0049
58m at 1.06g/t gold from 65m, including 36m at 1.39g/t gold from 87m.

Saturn Metals commenced drilling earlier this week with the intent of completing approximately 20 holes for approximately 2,500 metres in its search for additional opportunities to expand the deposit’s footprint.

The planned drilling will step out along a six-kilometre-long anomalous gold corridor and provide an initial test of the area between the Apollo and Ra zones testing multiple interpreted structures and targets.

“This program of drilling is in keeping with Saturn’s objective of growing the Apollo Hill gold system as rapidly as possible,” Saturn Metals managing director Ian Bamborough said in the company’s announcement to the Australian Securities Exchange.

“We have been looking forward to testing these more expansionary targets for some time and we are hopeful the results will demonstrate the greater potential at Apollo Hill.

“Our confidence in the system continues to grow.”

Saturn Metals said it anticipates announcing an update to the Apollo Hill resource in the coming weeks utilising drilling results from a drilling program completed in July that highlighted the potential to increase the scale of the known mineralised system from the current 0.5 million-ounce JORC 2012-compliant inferred gold resource of 17.2 million tonnes at 0.9 grams per tonne gold.

 

Email: info@saturnmetals.com.au

Website: www.saturnmetals.com.au

 

Saturn Metals Completes Apollo Hill Resource Expansion Drilling

THE DRILL SERGEANT: Saturn Metals (ASX: STN) reported further results from infill and extensional resource drilling at the company’s 100 per cent-owned Apollo Hill gold project, near Leonora in the Western Australian goldfields.

Saturn Metals said the latest drilling had further extended several thick and higher-grade zones of mineralisation towards the surface within the main Apollo Hill resource area.

Highlights of the recent Apollo Hill resource drilling include:

AHRC0061
23m at 1.76 grams per tonne gold from 124m, including 17m at 2.32g/t gold from 130m;

AHRC0041
46m at 1.11g/t gold from 19m, including 10m at 1.85g/t gold from 25m, and 7m at 2.5g/t gold from 58m;

AHRC0064
22m at 1.08g/t gold from 74m, including 12m at 1.72g/t gold from 78m;

AHRC0063
10m at 2.39g/t gold from 61m;

AHRC0056
22m at 1.02g/t gold from 62m; and

AHRC0064
32m at 1g/t gold from 127m, including 20m at 1.46g/t gold from 127m;

Saturn Metals explained these results will be the last to be received from the infill and extensional resource drilling program that was commenced just after the company listed on the ASX in March 2018.

They will be incorporated with all other results from the program and utilised in the Resource recalculation Saturn is currently undertaking and expects to complete later this year.

“The reported intersections have improved the mineral inventory in the heart of the Apollo Hill Resource area,” Saturn Metals managing director Ian Bamborough said in the company’s announcement to the Australian Securities Exchange.

“These results, when coupled with other impressive extensional results reported during August, further demonstrate the capacity to improve the development potential of this major gold system.

“Having reported all outstanding results, we are now in the process of incorporating them into a new resource estimate, which we expect to release in the December quarter.”

 

Email: info@saturnmetals.com.au

Website: www.saturnmetals.com.au

 

Saturn Metals Defines Higher Grade Gold Lode at Apollo Hill

THE DRILL SERGEANT: Saturn Metals (ASX: STN) was entertaining plenty of enquiries on Day One of the Diggers & Dealers Forum in Kalgoorlie after reporting results from resource upgrade drilling at the company’s 100 per cent-owned Apollo Hill gold project, near Leonora in the Western Australian goldfields.

Saturn Metals said the drilling has defined a continuous, higher grade gold lode at the northern end of the deposit.

Shallow RC intersections include:

AHRC0038
11 metres at 4.06 grams per tonne gold from 132m within 18m at 2.58g/t gold from 126m;

AHRC0036
10m at 2.98g/t gold from 92m within 28m at 1.2g/t gold from 82m; and

AHRC0037
11m at 1.98/g/t gold from 71m within 27m at 1.19g/t gold from 60m.

Saturn Metals explained the drilling has outlined a thick higher-grade lode structure within a broad resource grade envelope adding that potential exists to further define this robust lode along strike.

“We are delighted with the emerging picture at Apollo Hill,” Saturn Metals managing director Ian Bamborough said in the company’s announcement to the Australian Securities Exchange.

“These excellent results have provided a step-change in our understanding of the deposit’s potential.

“We look forward to assessing and reporting the remaining results from our latest phase of RC drilling and incorporating them into the resource re-calculation that will take place later this year.

“Based on the results received since we began drilling at Apollo Hill in March, it is reasonable to expect that the resource will grow.”

 

Email: info@saturnmetals.com.au

Website: www.saturnmetals.com.au

 

Saturn Metals Priming Apollo Hill for Lift-off

THE INSIDE STORY: Saturn Metals (ASX: STN) listed on the ASX with the purpose of giving the Apollo Hill gold project the attention its deserves and has not received.

Saturn Metals became the beneficiary of the exploration success enjoyed by Peel Mining (ASX: PEX) at its base metals projects in the Cobar Basin of New South Wales.

Peel originally acquired the Apollo Hill gold assets hoping to become a West Australian gold producer; however, its discovery of the Mallee Bull copper deposit shifted its gaze.

Peel always considered the value of Apollo Hill, but also realised that a gold project with such potential sitting idle was wasteful.

There are few newly-listed, gold exploration plays with a healthier diagnosis than Saturn Metals.

Not even six months into its ASX-existence, Saturn has a gold project totalling around 1,076 square kilometres of contiguous tenements in 23 mining, exploration and prospecting licenses, located in the heart of one of Australia’s highest producing regions.

The company raised $7 million in its IPO and at March this year it still had a healthy figure of around $6.5 million in the company coffers.

It has also been successful in applying for a grant under a recent round of the Western Australian Government’s Exploration Incentive Scheme (EIS) that will cover 50 per cent of the cost of two RC/diamond holes planned to follow up on historic and recent drilling at the project.

“Our strategic land position is right in the heart of the Eastern Goldfields of Western Australia,” Saturn Metals managing director Ian Bamborough told The Resources Roadhouse.

“If you even thought, on a very basic level, about the synchronicity of plus-one million-ounce major deposits, it becomes obvious that there is a large gap in the strongest greenstone belt of the region and it sits pretty much where we are.”

The Apollo Hill project is approximately 60 kilometres southeast of the gold mining and processing town of Leonora in a neighbourhood dotted by numerous companies currently mining multi-million-ounce gold deposits.

The project came with an established JORC code 2012-compliant Inferred Resource of 17.2 million tonnes at 0.9 grams per tonne gold for 505,000 ounces of gold using a 0.5 g/t cut-off (maximum depth of the resource at 180m below surface).

The Apollo Hill project comprises two deposits, the main Apollo Hill deposit in the north of the project area, and the smaller Ra deposit in the south.

At Apollo Hill, Peel Mining had identified two zones of mineralisation: The West (or Main) Zone and the East Zone and when it handed the project over the Resource extended for about 1,100m in strike.

Peel had tested the Apollo Hill mineralisation using 30m spaced, 45 degrees trending traverses of drill holes.

For most traverses, the upper approximately 50m was tested by holes spaced at around 20 to 30m.

Below this depth the coverage is variable, ranging from around 20m spacing on some sections to commonly greater than 60m.

The western mineralised domain has an average width of about 70m while the eastern domain has an average width of about 100m.

Metallurgical testwork by Peel demonstrated gold extraction levels of more than 60 per cent by gravity separation alone and greater than 92 per cent of gold extractable via gravity and cyanidation.

Saturn Metals was quick to declare its intentions for growing the Resources and to extend the known mineralisation.

An airborne magnetic and radiometric survey was completed in March, providing district scale gold targeting information.

This was followed by a high-resolution ground gravity survey over two highly prospective areas within the tenement package.

The company expects the results from both surveys will improve its exploration targeting ability at the regional scale.

Since listing, Saturn has completed around 4,300m of RC drilling and a 1200m program of diamond drilling and has returned the RC rig to carry out further drilling.

Saturn anticipates the drilling will achieve on a multi-pronged basis, the first being to extend and open the system, while the next is about upgrading the current Resource, which it expects to have finished by around September.

The company is confident of developing Apollo into being a two-million-ounce gold district.

“We have conducted some specific drilling targeting higher-grade plunging shoots within the Apollo Hill gold system and that is going to do a couple of things,” Bamborough explained.

“If we find a high-grade shoot within the greater system then there is potential to lift the grade of the system.

“To put that in context: a 0.1 grams per tonne uplift on a 17 million tonne Resource will provide a further 50,000 ounces.

“We want to get above that 0.9 grams per tonne hurdle and bring that grade up over the one gram per tonne mark, which will mostly likely place us in an improved position when compared to our peers.

“The higher-grade shoots – if they emerge into what we believe they could be – could develop into being ore bodies within their own right within the bigger low-grade halo.

“There is tremendous leverage for making this project better.”

Recent near-surface extensional assay results from the earlier RC drilling compared favourably with historic drill intersections from Apollo Hill.

Better results included:

AHRC0024
12 metres at 2.8 grams per tonne gold from 4m, including 3m at 8.8g/t gold from 13m;

AHRC0019
20m at 2.5g/t gold from 52m and 11m at 2.28g/t gold from 84m within, 100m at 1.01g/t Au from 7m;

AHRC0029
22m at 1.01g/t gold from 52m, including 11m at 1.49g/t gold from 52m;

AHRC0032
10m at 1.5g/t gold from 49m;

AHRC0034
6m at 2.41g/t gold from 53m; and

AHRC0028
34m at 0.45g/t gold from 76m;

Saturn moved seamlessly into its maiden diamond drilling program at Apollo Hill comprising approximately 1,200m in nine holes to follow up on the Saturn RC drilling that had further highlighted the potential for several stacked, higher grade plunging shoots.

In addition to Saturn’s new RC results, intersections from historic drilling included 2m at 69.6g/t gold from 146m and 5.3m at 10.3g/t gold from 70.7m.

“The diamond drilling that we have just finished has been very much about finding further evidence of the higher-grade architecture and about having a really good look at the entire thing as well,” Bamborough said.

“Because of the way this area has been historically approached, generally as a big low-grade deposit drilled with wide spaced holes, I think people have had the mindset that this is all it can be.

“I’ve taken that hat off and have decided to look within at these beautiful gold shoots that are sparsely drilled.

“The higher grade historic intersections and our new drilling results are telling us how and where to focus.

“If these results had been achieved at a project such as Jundee, owners of the Newmont and Northern Star ilk would have been right in there with underground drill rigs giving It a good hammering.

“My vision is to create a paradigm shift for people on the deposit.

“Yes, we can make it bigger, but this is how we are now going to make it better.

“What I can say now, is that the geology that we have seen from the diamond holes is adding weight to those theories.”

 

Saturn Metals Limited (ASX: STN)
… The Short Story

HEAD OFFICE
Unit 1
34 Kings Park Road
West Perth WA 6005

Ph: (08) 6424 8695

Email: info@saturnmetals.com.au
Web: www.saturnmetals.com.au

DIRECTORS
Ian Bamborough, Rob Tyson, Andrew Venn