Saturn Metals Ltd (ASX:STN) has landed a spate of significant results from reserve circulation drilling at its Apollo Hill gold project, with these reinforcing a recent resource update – and boosting expansion expectations.
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Resource drilling results from the Western Australian program included 41 metres at 1.23 grams per tonne (g/t) of gold (Au) from 248 metres including 10 metres at 4.12g/t Au from 268 metres in one hole; and 21 metres at 1.79g/t Au from 116 metres including eight metres at 4.05 g/t Au from 123 metres in another.
This data was to be used to push the current resource into a stronger category of definition, while extensional drilling picked up 36 metres at 1.92g/t Au from 335 metres, including 22 metres at 3.08g/t Au from 335 metres.
“The thick and higher-grade results seen in this latest batch of assays continue to reinforce the significant endowment of the Apollo Hill gold deposit and its suitability for bulk mining,” Saturn’s managing director, Ian Bamborough, said today, pointing to the strength of the project.
“Once again, where we have tested the extensional frontiers, recent drilling has produced an excellent intersection – paving the way for further resource growth.”
Saturn will also release a second resource upgrade this year, followed by a maiden ore reserve and a prefeasibility study – all for completion in the second half of 2025.
“With the recent Resource upgrade surpassing the 2Moz mark and an aggressive drill program in front of us, we look forward to unlocking the full potential of this robust asset against the backdrop of record gold prices.”
Following this market update, STN has been trading at 34 cents.
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