The Measured, Indicated, and Inferred Mineral Resource Estimate at the Apollo Hill Gold Project has been upgraded for the seventh consecutive time after Saturn Metals (ASX:STN) wrapped up a 300-hole infill drilling program.
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The Apollo Hill MRE has been updated to 2.24 million ounces, with 82% classified as measured and indicated. The upgrade is a 10% bump on old estimates.
“We continue to make significant steps forward with the Apollo Hill gold resource under a conventional and efficient bulk mining and heap leach processing trajectory,” Saturn’s managing director, Ian Bamborough, said.
“Significant improvements in the quality and size of the Mineral Resource through effective drilling continue to bode well for the advancement of our business.”
Saturn leaned on the latest results from its drilling for the latest MRE hike: The company worked on 300 RC holes and nine diamond drill holes and tails totalling 55,757 metres within the project’s model area.
The work’s not done yet either, with mineralisation still open in several directions, suggesting there’s “clear potential” for even further updates.
“Impressive conversion to the higher confidence Measured and Indicated MRE categories provides an expanded basis from which to base the PFS and inaugural Ore Reserve [later this year],” Mr Bamborough said on next plans.
“Completion of this recent major drill phase has provided major leverage to the geological understanding of the deposit,” the company chief added. To capitalise, Saturn has already fired up rigs on-site; resource growth, resource in-fill, geotechnical and metallurgical drilling are the primary objectives.
That drilling will then be used to chase an eighth estimate upgrade in FY26.
HotCopper understands Saturn will then put together an Orel Reserve upgrade early next year that will be used to build a Definitive Feasibility Study.
The company’s also sniffing around the 1,000sqkm greenfields beyond Apollo Hill’s six-kilometre-long focal point. Saturn’s focus pricked up there after several intersections were recently discovered at nearby discoveries.
Through Friday, STN saw gains as high as +3.1%; it’s 41cps at time of writing.
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