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| Saturn Metals |
High Recovery Rates, Solid Economics Drive Confidence in WA Gold Development
Saturn Metals is fast-tracking its flagship Apollo Hill gold project in Western Australia's Goldfields region, targeting a 2025 pre-feasibility study (PFS) as drilling activity intensifies.
Located 60km southeast of Leonora, Apollo Hill holds a JORC-compliant resource of 2.03 million ounces (Moz) across measured, indicated, and inferred categories. The project’s ten-year mine life is expected to yield 93.9 million tonnes at 0.54g/t, for 1.6Moz of contained gold, with annual recovery of 122,000oz under a low-cost production scenario.
Promising Metallurgy and Simple Mineralogy
Metallurgical testing has confirmed 88% gold recovery in column tests using a 4mm crush size. The ore is described as simple fresh rock with free gold in quartz, offering easy liberation, strong percolation, and low reagent and agglomeration requirements—factors that support a streamlined processing pathway.
Strong Economics Back Strategic Asset
At a base gold price of $2,665/oz, the project shows a pre-tax NPV of $388 million and an IRR of 30%, with a 2.8-year payback. Upside potential is significant—sensitivity analysis at $3,500/oz gold indicates a $1.08 billion NPV and 62% IRR.
Presenting at the Melbourne Mining Club, Saturn described Apollo Hill as a “strategic-sized asset” with long-term growth potential, located in a world-class gold province.
Staged Development and PFS Timeline
The company aims to deliver its PFS by Q4 2025 and is actively evaluating staged development scenarios to accelerate production and reduce upfront capital requirements. With 60,000m of drilling underway and multiple rigs on site, Saturn is building the foundations for a major new gold operation in one of Australia's premier mining jurisdictions.
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