Saturn Metals Advances Apollo Hill DFS Amid New High-Grade Titan Zone Intercepts

Apollo Hill DFS Takes Shape with Ausenco Appointment

Saturn Metals (ASX:STN) has taken a decisive step in advancing its flagship Apollo Hill Gold Project in Western Australia by appointing global engineering firm Ausenco to deliver the Definitive Feasibility Study (DFS) targeted for completion within 2026. Ausenco brings a blend of Australian construction experience and global heap leach expertise, a critical combination for a project aiming to develop a large-scale, long-life gold mining operation.

This appointment follows the strong Pre-Feasibility Study (PFS) results announced in late 2025, which outlined a 1.58 million ounce Ore Reserve and a 14-year open pit mine life. The DFS will incorporate updated Mineral Resource Estimates scheduled for mid-2026 and will underpin the next phase of project development. The company's strategic move to engage Ausenco aligns with its ambition to refine engineering, optimise processing, and progress permitting activities.

Titan Zone Emerges as a High-Grade Growth Catalyst

Drilling results from the March quarter have unveiled a promising new higher-grade gold zone dubbed the 'Titan Zone' along the northern extension of the Iris Trend footwall structure. Notable intercepts include 15 metres at 5.53 grams per tonne (g/t) gold from 10 metres depth and a remarkable 2 metres at 17.71 g/t from 178 metres. These shallow, thick intersections suggest potential for resource expansion beyond the current 2.24 million ounce Mineral Resource.

In-fill drilling within the existing resource area has delivered strong results that support upgrading inferred resources to higher confidence categories. Highlights include 5 metres at 11.92 g/t gold from 157 metres, featuring a 1 metre interval at 49.20 g/t, and multiple other intercepts exceeding 1.5 g/t over significant widths. These results will feed into the Mineral Resource update planned for mid-2026, which will inform the DFS mining inventory and production forecasts.

Expanding Exploration with Ground Gravity Survey

Saturn has initiated a 750 square kilometre ground gravity survey across its strategic land package around Apollo Hill. The survey aims to enhance geological understanding and support targeting of regional gold mineralisation beyond the current resource footprint. Data acquisition is expected to complete early in the June quarter, with processing underway to guide a planned 35,000-metre drilling campaign in the first half of 2026.

This regional exploration push complements the company’s focus on the Apollo Hill resource and its satellite prospects such as Aquarius, Hercules, Aphrodite, and Pandora within the Wiluna-Norseman Greenstone Belt, a well-known gold fertile region. The survey represents a technical leap in exploration capability, potentially unlocking new discoveries that could sustain or grow the project’s long-term production profile.

Financial Position and Corporate Developments

Saturn Metals closed the quarter with a robust cash balance of $50.2 million, providing a solid financial runway for ongoing development and exploration activities. The company’s expenditure during the quarter included significant drilling and metallurgical test work, as well as environmental and geotechnical studies advancing the DFS and permitting processes.

Notably, Saturn has divested its 60% interest in the West Wyalong Joint Venture in New South Wales, a move that sharpens its focus on Apollo Hill. The sale aligns with the company’s strategic prioritisation of its Western Australian gold assets, while retaining exposure through shareholdings in the acquiring party. This transaction was announced shortly before the quarter end and reflects a streamlining of the portfolio.

Permitting and Native Title Engagement

Progress continues on environmental and permitting fronts, including ongoing subterranean fauna surveys and surface water studies to satisfy regulatory requirements. Engagement with the Wangkatja Tjungula Aboriginal Corporation remains active as Saturn works towards an agreement addressing native title considerations for Mining Lease 31/496, which extends the granted Apollo Hill leases.

The company’s methodical approach to permitting and community engagement is critical to de-risking the development timeline and ensuring regulatory approvals support the DFS outcomes and subsequent project construction phases.

Saturn’s March quarter results build on its earlier announcements, including the Ausenco DFS appointment and high-grade Titan Zone intercepts, reinforcing the narrative of a project advancing steadily toward production readiness. The company’s recent divestment of its New South Wales interests also reflects a clear strategic focus on Apollo Hill’s development trajectory as it moves through 2026.