Saturn Metals Limited (ASX:STN) has completed an updated Mineral Resource estimate of 36 Mt at 0.8 g/t Au for 944,000 ounces for the Apollo Hill gold deposit at its 100%- owned Apollo Hill Gold Project near Leonora in the Western Australian Goldfields.
Managing Director, Ian Bamborough, said this significant increase in contained ounces from the previously published resource, incorporates the results of a highly successful 265-hole, 55,000 m extensional and in-fill drilling campaign completed since the last Mineral Resource upgrade which was published in late October 2019.
This resource upgrade is the third significant step for the company and the Apollo Hill asset in as many years,” Mr Bamborough said.
“Consistent improvements in the quality of the resource, its overall size, and to the Mineral Resource categories, through efficient drilling continue to bode well for the advancement of our business. For the first time we have been able to publish the Mineral Resource within a ‘Whittle’ pit shell using preliminary cost assumptions.
“This has allowed the company to consider potential economies of scale, lower cost processing scenarios and the use of a lower cut-off grade to help obtain an improved stripping ratio.
“With the system open along strike and up and down plunge and metallurgical assumptions at an early stage of understanding, the gold deposit is positioned for continued growth.
“Drilling has already resumed with two rigs on site testing for additional mineralisation. In addition, the next stage of metallurgical sampling has commenced towards searching for processing cost improvements. Results of all programs will be reported in due course.”
Mr Bamborough said the growth in the Apollo Hill Mineral Resource over the past 12 months has been driven in equal parts by the discovery of additional shallower mineralisation in the hanging-wall zone and importantly by further drilling beneath the base of the previous resource.
Furthermore, shallow mineralisation identified on the Ra – Tefnut trend has had a positive impact on the model. Saturn’s improving knowledge of the geological controls at the deposit and refinements in the resource modelling techniques have continued to have a positive influence.