PERTH (miningweekly.com) – Junior explorer Saturn Metals has reported a 36% increase in the resource at its Apollo Hill deposit, in Western Australia.
The inferred mineral resource is now estimated at 20.7-million tonnes, grading 1 g/t gold for 685 000 oz, which Saturn said was a 14% increase on the previously estimated deposit grade, and a 36% increase in the overall contained mineral resource.
“This resource upgrade is a significant step for the company and the Apollo Hill asset only a short while after listing,” said Saturn MD Ian Bamborough.
“Improvements in grade, ounces, tonnes, quality, and Joint Ore Reserves Committee code category, all with minimal drilling and at a low discovery cost per ounce, bode well for the development of our business.”
Bamborough said that the system was wide open for rapid expansion, with drilling already resumed to test targets.
Saturn’s strategy moving forward is to target an expansion of the Apollo Hill deposit and to look for new deposits across its regional land package before initiating a scoping study.