Saturn Metals (ASX:STN) Is Back in Focus After Fresh Apollo Hill Results

Aditi Sarkar

20 May 2026 10:09 PM AEST

Saturn Metals (ASX:STN) Is Back in Focus After Fresh Apollo Hill Results

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Highlights

Saturn Metals reported new RC and diamond drilling results from the Apollo Hill Gold Project in Western Australia.
Recent assays are expected to contribute to the upcoming Mineral Resource upgrade for Apollo Hill.
Significant intercepts included 16m at 2.46g/t Au from 47m and 22m at 1.58g/t Au from 26m.
The Company said the updated Mineral Resource is expected to be released in the coming weeks.
Apollo Hill currently hosts a Mineral Resource of 137.1Mt at 0.51g/t Au for 2.24Moz of gold.
The updated resource is intended to underpin the Definitive Feasibility Study (DFS) and revised Ore Reserve planned for later in 2026.
Additional assay results remain pending from 46 RC holes and three extensional diamond drill holes.

Saturn Metals Limited (ASX:STN) has released further drilling results from its Apollo Hill Gold Project in Western Australia, with the Company indicating the latest assays continue to support the upcoming Mineral Resource upgrade currently nearing completion. The update included results from both reverse circulation (RC) and diamond drilling programs completed across the project as part of ongoing resource development work.

Shares of Saturn Metals closed at AUD 0.50 on 20 May 2026, down 0.98% for the session. Despite today’s softer trading performance, the stock remains up more than 80% over the past year, reflecting continued market attention on the advancement of the Apollo Hill project and the broader development pathway toward feasibility studies and reserve updates.

The latest drilling campaign forms part of Saturn Metals’ strategy to strengthen confidence in the existing Apollo Hill Mineral Resource while also testing extensions and higher-grade zones within the deposit. The Company stated that all newly reported drill results are being incorporated into the current resource upgrade process, which is expected to be finalised in the coming weeks.

Apollo Hill remains Saturn Metals’ flagship asset and is located near Leonora in Western Australia, a region known for large-scale gold operations and established Mining infrastructure. The project is fully owned by Saturn Metals and has increasingly become the central focus of the Company’s development activities.

New Drill Results Highlight Higher-Grade Zones

Among the key assay results reported by Saturn Metals were several thick gold intersections from recent drilling activities across Apollo Hill. The Company highlighted multiple intervals that may support improvements in both resource confidence and contained ounces within the upcoming resource estimate.

Some of the notable intercepts included:

16m at 2.46g/t Au from 47m, including 5m at 7.14g/t Au from 53m in hole AHRC1565
• 22m at 1.58g/t Au from 26m, including 10m at 2.88g/t Au from 26m in hole AHRC1596
• 5m at 4.03g/t Au from 115m in hole AHRC1595
• 18m at 1.59g/t Au from 259m in hole AHRCDD1458
• 41m at 0.89g/t Au from 242m, alongside 2m at 13.0g/t Au from 145m in hole AHDD0068
• 8m at 2.14g/t Au from 94m, including 4m at 3.88g/t Au from 94m in hole AHRC1594
• 2m at 21.90g/t Au from 294m in hole AHRCDD1308

The Company noted that the drilling program included results from 35 RC drill holes covering 6,820 metres and six diamond drill holes totalling 793.41 metres.

According to Saturn Metals, these intersections continue to reinforce the geological continuity of mineralisation across Apollo Hill, while also identifying areas of higher-grade mineralisation that may contribute positively to the revised resource model.

Resource Upgrade Nearing Completion

A major focus of the latest announcement was the progress toward an updated Mineral Resource estimate for Apollo Hill. Saturn Metals indicated that the upgraded resource remains on track for release in the coming weeks.

The current Mineral Resource at Apollo Hill stands at 137.1 million tonnes grading 0.51g/t gold for approximately 2.239 million ounces of contained gold. Importantly, the Company previously stated that around 82% of the resource is already classified within the Measured and Indicated categories.

Management believes the recent drilling may contribute to further improvements in resource confidence, quality and overall contained metal inventory.

Saturn Metals Managing Director Ian Bamborough commented that the latest infill and extensional drilling results continued to demonstrate consistency across the project. He also noted that the upgraded Mineral Resource would become a key foundation for the Apollo Hill Definitive Feasibility Study and updated Ore Reserve scheduled for release later in 2026.

The Company’s broader development strategy appears focused on transitioning Apollo Hill from a large-scale exploration project toward a more advanced development-stage asset supported by feasibility work and updated economic studies.

Additional Assays Still Pending

While the current announcement included a substantial number of assay results, Saturn Metals also confirmed that drilling has continued beyond the resource cut-off date.

The Company stated that assay results remain pending for an additional 46 relatively shallow RC holes, representing approximately 6,000 metres of drilling. Three further shallow extensional diamond drill holes targeting the Titan and Iris lodes are also awaiting results.

This ongoing work is designed to follow up on previously identified higher-grade plunging zones within the Apollo Hill system. Earlier drilling had intersected intervals such as 15m at 5.53g/t Au from 10m, including 7m at 11.23g/t Au from 16m.

The continuation of drilling beyond the current resource update timeline suggests Saturn Metals is still evaluating opportunities to expand and refine mineralisation across different zones within the broader Apollo Hill deposit.

DFS and Ore Reserve Update Planned for Later in 2026

The upcoming Mineral Resource upgrade represents only one part of Saturn Metals’ broader development roadmap for Apollo Hill.

The Company confirmed that the revised resource estimate will underpin both an updated Ore Reserve and a Definitive Feasibility Study (DFS), which are planned for release later in calendar year 2026.

Feasibility studies are generally considered an important milestone for mining projects, as they provide more detailed assessments of development pathways, operational planning, processing assumptions and project Economics.

Apollo Hill has been positioned by Saturn Metals as a heap leach gold project, with prior work focusing on large-scale mineralisation and relatively broad zones of gold distribution.

The Company has continued to emphasise both scale and continuity at Apollo Hill while also targeting higher-grade structures within the broader mineralised system through focused drilling campaigns.

Focus on Resource Confidence and Development Readiness

The latest drilling campaign appears primarily aimed at improving the quality and confidence of the existing resource base rather than solely pursuing new discoveries.

Infill drilling programs are often used to tighten drill spacing and support higher-confidence resource classifications, while extensional drilling can test continuity and potential growth areas outside existing models.

Saturn Metals indicated that both types of drilling were incorporated into the current campaign, with results contributing to the resource upgrade process already underway.

The Company also referenced interpreted geological cross-sections highlighting continuity across the Apollo Hill deposit, supporting ongoing modelling and development planning activities.

With a large existing resource already established, the near-term focus for Saturn Metals increasingly appears centred on refining project economics and advancing Apollo Hill toward development-stage studies.

About Saturn Metals

Saturn Metals Limited is an Australian gold exploration and development company focused on the Apollo Hill Gold Project near Leonora in Western Australia.

Apollo Hill is a 100%-owned project positioned within the Eastern Goldfields region, an area known for significant historical and current gold production activity.

The Company has continued progressing resource development drilling, technical studies and exploration programs aimed at expanding and improving confidence in the project’s mineral inventory.

The updated Apollo Hill Mineral Resource, along with the Definitive Feasibility Study and revised Ore Reserve planned later this year, are expected to represent key milestones for the Company as it advances the project.

What Investors May Watch Next

Investors following Saturn Metals may now be focused on several upcoming catalysts expected over the coming months.

These include:

Release of the updated Apollo Hill Mineral Resource
• Pending assay results from additional RC and diamond drilling
• Publication of the Definitive Feasibility Study
• Updated Ore Reserve estimates
• Ongoing drilling outcomes from Titan and Iris lodes
• Further indications regarding project development timelines

The upcoming resource update may be particularly important given its role in supporting the broader feasibility work and future project planning activities at Apollo Hill.

FAQs

Q: What did Saturn Metals announce on 20 May 2026?

A: Saturn Metals reported new reverse circulation and diamond drilling results from its Apollo Hill Gold Project in Western Australia, with the results expected to contribute to an updated Mineral Resource estimate.

Q: What is the current Apollo Hill Mineral Resource?

A: Apollo Hill currently hosts a Mineral Resource of 137.1 million tonnes at 0.51g/t gold for approximately 2.239 million ounces of contained gold.

Q: What were some of the key drill results?

A: Significant intercepts included 16m at 2.46g/t Au from 47m, 22m at 1.58g/t Au from 26m and 2m at 21.90g/t Au from 294m.

Q: When is the updated Mineral Resource expected?

A: Saturn Metals said the updated Mineral Resource estimate is expected to be released in the coming weeks.

Q: What studies are planned after the resource update?

A: The updated resource is expected to underpin an updated Ore Reserve and a Definitive Feasibility Study (DFS), both targeted for release later in 2026.

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