The trading halt will remain in place until the start of trading on Wednesday, May 15, or when an announcement is made to market – whichever occurs first.
Saturn's securities last traded at 24 cents.
Earlier this month the company intersected further high-grade gold at a new lodge adjacent to the Apollo Hill Gold Project.
Saturn Metals managing director Ian Bamborough said the latest intersection was one of the best ever reported at Apollo Hill, sparking a new direction for the deposit and its future growth potential.
He said: “What is important about this is the intersection represents a step out to a new lode, to a new discovery directly east of Apollo Hill at 150 metres away.
“We are really starting to see a pattern here, this is about the third intersection in this new zone and I always think – one hit, two hits, three hits and you’ve really strung something together.”
The drilling results were from holes 25-30 of the planned 48-hole program with hole AHRC0136 intersecting 13 metres at 5.05 g/t gold from 74 metres including 4 metres grading 9.8 g/t from 74 metres.