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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

 

Saturn Metals Returns Encouraging Drill Results from Apollo Hill

THE DRILL SERGEANT: Saturn Metals (ASX: STN) reported an encounter with further diamond drilling intersections at the company’s 100 per cent-owned Apollo Hill gold project, near Leonora in the Western Australian goldfields.

Saturn Metals completed drilling that tested extensional positions on the main Apollo Hill deposit and the adjacent Ra deposit, which have a combined 0.505 million ounce JORC 2012-compliant inferred gold resource of 17.2 million tonnes at 0.9 grams per tonne gold.

Better results from the latest batch of diamond drilling assays include:

AHRCD0001
2.6 metres at 3.23g/t gold from 88.7m – (Ra Footwall Zone);

AHDD0001
2.2m at 2.5g/t gold from 61.7m – (Ra); and

AHDD0002
2.5m at 3.18g/t gold from 76.5m within 10.1m at 1.26g/t gold from 75.9m – (Apollo Hill South).

Saturn Metals said the intersections at Apollo South show similarities to the higher-grade dolerite hosted vein structures noted in the parallel and adjacent Ra deposit.

The drilling has also demonstrated the potential for more of this important style of mineralisation in the prospective dolerites.

Drilling remains open along strike and down plunge with the potential for multiple stacked lodes.

Results also delineated several other wider zones of lower grade gold mineralisation with intersections including:

AHDD0006
21m at 0.44g/t gold from 117m; and

AHDD0002
7.1m at 0.58g/t gold from 14m.

The company indicated that results will form part of an upcoming resource re-calculation with a revised resource statement anticipated for later in 2018.

“We are excited by the new geological development at Apollo South, and the potential to discover another zone of higher grade Ra style mineralisation,” Saturn Metals managing director Ian Bamborough said in the company’s announcement to the Australian Securities Exchange.

“The opportunity remains open for additional testing.”

 

Email: info@saturnmetals.com.au

Website: www.saturnmetals.com.au

 

Saturn Metals Drills Positive Results at Apollo Hill

THE DRILL SERGEANT: Saturn Metals (ASX: STN) received results from diamond drilling at the company’s 100 per cent-owned Apollo Hill gold project near Leonora in the Western Australian goldfields.

Saturn Metals explained the drilling had focused along higher grade structural zones or shoots within the main Apollo Hill deposit, which has a 0.5 million ounce JORC 2012-compliant inferred gold resource of 17.2 million tonnes at 0.9 grams per tonne gold.

Results returned in this first batch of assays included:

AHDD0007
7.4 metres at 2.01g/t gold from 220.5m;

AHRCD0016
11.2m at 1.77g/t gold from 173.8m, within 24.2m at 1.22g/t gold from 173.8m; and

AHDD0005
3.8m at 2.05g/t gold from 89m, including 0.5m at 15.6g/t gold from 92.3m.

Saturn Metals said the results from AHRCD0016 and AHD0007 had improved the geological continuity of the higher-grade Armstrong zone within the resource, highlighting the potential to increase the overall grade of the known mineralised system.

The company currently has RC drilling further targeting this, and other higher-grade positions.

Saturn submitted samples from the AHRCD0016 mineralised intercept for a second and third round of assays using larger sample size bottle roll cyanidation and screen fire assay to help assess the effect of the nuggety gold noted in the drill core on the reported assay results.

Other results delineated several other wider zones of Apollo Hill style gold mineralisation with intersections including:

AHDD0003
7.8m at 1.12g/t gold from 85m; and

AHDD0005
15m at 0.8g/t gold from 146m.

Saturn indicated that all results would be used in an upcoming resource re-calculation with a resource statement anticipated for later in 2018.

Assays remain pending for four diamond drill holes taht tested distinctly different positions within the greater Apollo Hill gold system.

“Results continue to outline better grades within specific parts of the Apollo Hill gold system and we look forward to seeing how they affect our resource re-calculation in the coming months,” Saturn Metals managing director Ian Bamborough said in the company’s announcement to the Australian Securities Exchange.

 

Email: info@saturnmetals.com.au

Website: www.saturnmetals.com.au

 

Saturn Metals Doubles Drilling Efforts at Apollo Hill

THE DRILL SERGEANT: Saturn Metals (ASX: STN) has commenced a second phase RC resource drilling program at the company’s wholly-owned Apollo Hill gold project, near Leonora in the Western Australian goldfields.

Saturn Metals has mobilised two drill rigs to site to accelerate the program, which will comprise approximately 4,000 metres of RC drilling in 35 holes.

The company explained the planned holes will follow up on recent drilling results that have highlighted the potential to increase the scale of the known mineralised system from the project’s current 0.5 million ounce JORC 2012-compliant inferred gold resource of 17.2 million tonnes at 0.9 grams per tonne gold.

Recent drill results compared well with historic mineralised intervals, including:

AHRC0029
22 metres at 1.01g/t gold from 52m, including 11m at 1.49g/t gold from 52m (Northern Extension); and

AHRC0005
23m at 1.15g/t gold from 11m (Southern Extension).

The upcoming drilling will focus along a 250m southern extension corridor to the 1.1km long resource zone but will also look to extend mineralisation to the north where drilling remains open.

Other objectives of the RC drilling will be to follow up on recent higher-grade shoot intersections including:

AHRC0019
20m at 2.5g/t gold from 52m.

Saturn Metals is working towards an expected update to the resource later in 2018.

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

“We look forward to reporting results in due course and to including them in our new resource estimation.”

Saturn anticipates the program will take two to three weeks to complete, and will provide further information as results are received and analysed.

 

Email: info@saturnmetals.com.au

Website: www.saturnmetals.com.au

 

Saturn Metals Strikes Visible Gold Hits in First Drill Hole

THE DRILL SERGEANT: Saturn Metals (ASX: STN) reported visible gold in the first diamond tail completed by the company at its Apollo Hill gold project near Leonora in the West Australian goldfields.

Saturn Metals said the visible gold was supported by a 3D X-ray scan of a 20-metre section of core from the diamond tail, AHRCD0016, using Swick Mining Services’ Orexplore GeoCore X10 core scanning technology showing the presence of additional interpreted gold grains.

Using the Orexplore technology, interpreted gold grains were scanned at 181.7m, 184.21m, 184.45m 197.2m and 201.25m, giving gold indications over the entire 20m section of AHRCD0016 core.

Saturn has submitted the whole drill core to the laboratory for assay to ensure all gold grains are captured in the analysis.

The company explained that AHRCD0016 is the first of a nine-hole diamond drilling program completed in June to test for higher grade plunging shoots (including the Armstrong and Eagle Shoots) within the current Apollo Hill 0.505 million ounce JORC 2012 Inferred Resource of 17.2 million tonnes at 0.9g/t gold.

“We are extremely pleased with the unusually high number of gold indications we have seen in the AHRCD0016 core so far,” Saturn Metals managing director Ian Bamborough said in the company’s announcement to the Australian Securities Exchange.

“We look forward to reporting the assay results for this hole, and the other eight holes in the coming weeks.

“The GeoCore X10 scan has provided us with additional confidence in our interpretations, some timely geological targeting information for the start of our upcoming RC program and a great data set for the deposits apparently simple metallurgical development.”

 

Email: info@saturnmetals.com.au

Website: www.saturnmetals.com.au

 

Saturn Metals Returns More Positive Apollo Hill Drill Results

THE DRILL SERGEANT: Saturn Metals (ASX: STN) reported new near-surface extensional assay results from a Reverse Circulation (RC) drilling program recently completed at the company’s 100 per cent-owned Apollo Hill gold project near Leonora in Western Australia.

Saturn Metals has now reported all results for the 35 holes it completed during the first phase of RC drilling at Apollo Hill the company has carried out since taking ownership of the project.

Results from the drilling include:

AHRC0029
22 metres at 1.01 grams per tonne 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;

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

AHRC0035
12m at 0.45g/t gold from 36m.

Saturn Metals said the returned drill intersections provided further comparisons to historic drill intersections from Apollo Hill.

The company said that when coupled with other recently released drill results (6m at 2.26g/t gold from 11m, and 23m at 1.15g/t gold from 11m), the latest results highlight the potential to increase the scale of the known mineralised system from the current 0.505 million ounce JORC 2012-compliant inferred gold resource of 17.2 million tonnes at 0.9g/t gold.

“These strong drill results have increased our confidence in our ability to grow and improve the Apollo Hill gold system whilst focusing on shallow extensions,” Saturn Metals managing director Ian Bamborough said in the company’s announcement to the Australian Securities Exchange.

“The recent holes provide great additional data on which to base our next resource calculation, which is planned for mid to late 2018.”

Saturn Metals has already commenced a follow-up phase of diamond drilling and further RC resource drilling is being planned for late June 2018.

 

Email: info@saturnmetals.com.au

Website: www.saturnmetals.com.au

 

Saturn Metals Kicks Off Apollo Hill Drilling

THE DRILL SERGEANT: Saturn Metals (ASX: STN) commenced its first drilling campaign at the company’s wholly-owned Apollo Hill gold project, near Leonora in the Western Australian goldfields.

Saturn Metals indicated the program is to comprise of approximately 1,200 metres of diamond drilling in nine holes, designed to test for and further define higher grade plunging shoots within the existing 17.2 million tonnes at 0.9 grams per tonne gold for 0.5 million ounce 2012 JORC-compliant inferred resource.

The drilling is to follow up on recent and historic drilling results the company says has highlighted the potential for stacked, higher grade plunging shoots within the greater Apollo Hill gold system.

Recent RC drilling results include:

AHRC0019
20 metres at 2.5g/t gold from 52m; and

AHRC0026
8m at 3.3g/t gold from 16m.

Intersections from historic drilling include:

2m at 69.6g/t gold from 146m; and

5.3m at 10.3g/t gold from 70.7m.

The diamond drilling has been charged with other objectives, including to identify additional mineralisation and gather geological information for use in the calculation of a new Resource for the project.

Saturn anticipates announcing an upgraded resource in mid to late 2018.

“This program of drilling has been designed to find further evidence of the higher-grade architecture within the large Apollo Hill gold system,” Saturn Metals managing director Ian Bamborough said in the company’s announcement to the Australian Securities Exchange.

“We look forward to having a good look at the geology of the mineralised system in diamond core and to reporting on results in due course.”

 

Email: info@saturnmetals.com.au

Website: www.saturnmetals.com.au

 

Saturn Metals Defines Higher Grades at Apollo Hill

THE DRILL SERGEANT: Saturn Metals (ASX: STN) reported encouraging near-surface drill intersections from recent RC drilling undertaken at the company’s 100 per cent-owned Apollo Hill gold project, near Leonora in the Western Australian goldfields.

Saturn Metals explained the drilling focused along higher grade structural zones or shoots (Armstrong and Eagle Shoots) within the main Apollo Hill deposit, which has a 0.5 million-ounce JORC 2012-compliant inferred gold resource of 17.2 million tonnes at 0.9 grams per tonne gold.

The company said the results improved the geological continuity of those higher-grade zones within the resource, highlighting the potential to increase the overall grade of the known mineralised system.

Better results returned in the latest batch of assays included:

AHRC0024
12 metres at 2.8 grams per tonne gold from 4m, including 3m at 8.8g/t gold from 13m within 31m at 1.12g/t gold from 1m;

AHRC0026
11m at 2.5g/t gold from 1m, including 8m at 3.3g/t gold from 16m;

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

AHRC0027
16m at 2.75g/t gold from 8m;

The drilling also extended the Armstrong and Eagle Shoots practically to surface and demonstrated the down-plunge continuity of the Armstrong Shoot, which remains open at depth with current drilling hitting only to 180m vertical depth.

By drilling in alternate directions, Saturn has found it is able to better visualise and target these shoots, which it has determined to be characterised by zones of increased vein density, alteration and deformation.

The company has identified and modelled several similar shoots that require further drill testing.

“We continue to be extremely pleased with the results at Apollo Hill,” Saturn Metals managing director Ian Bamborough said in the company’s announcement to the Australian Securities Exchange.

“The new data has provided further evidence of the higher-grade architecture within the large Apollo Hill gold system.

“We look forward to having a good look at the mineralised system in diamond core when drilling commences shortly.

“All results will be incorporated into our next resource estimation, which is planned for mid to late 2018.”

 

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 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.

 

Email: info@saturnmetals.com.au

Website: www.saturnmetals.com.au