Saturn Metals begins drilling high-grade hanging wall zone at Apollo Hill Gold Project
Thursday, 13 June 2019 Saturn Metals Ltd (ASX:STN) has resumed exploration drilling at its Apollo Hill Gold Project near Leonora in the Western Australian goldfields. An aggressive program of up to 10,000 metres of reverse circulation (RC) drilling has commenced at Apollo Hill as part of Saturn’s efforts to expand the newly discovered high-grade hanging wall zones and to rapidly grow the project’s resource, which currently stands at 20.7 million tonnes grading 1 g/t gold for 685,000 ounces. Planned exploration and resource extension drilling locations relative to the published resource Having finished the March 2019 quarter with $2.8 million in cash, and after successfully raising $1.5 million through a share placement in May, Saturn is well funded to accelerate drilling activity at Apollo Hill and has brought a second rig to site for that purpose. READ: Saturn Metals secures funds to accelerate gold exploration at Apollo Hill Saturn managing director Ian Bamborough said: “We have been highly encouraged by the results we have seen to date from the newly discovered hanging wall zones and as a result we are ramping up exploration efforts. “This new program of drilling will further test the potential of those zones and could deliver a step change in the size and grade of the Apollo Hill Mineral Resource.” RC drilling underway at Apollo Hill –June 12, 2019
In trading on Monday, precious metals shares were relative laggards, down on the day by about 2.4%. Helping drag down the group were shares of Tanzanian Gold Corporation (TRX), down about 5.1% and shares of Silvercorp Metals (SVM) down about 4.8% on the day.
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