Bright object in the sky in remote arizona mountains.

When I was 9 or 10 years old (around 1980).  I was working on a ranch, helping with rounding up cattle in remote mountains in southeast Arizona.  As usual, we wake up very early when it’s still dark, and stand around a fire waiting for our cook to finish cooking breakfast.  On this morning my friend woke me up extra early, and said wake up and look up in the sky.  He said look there is a strange object above us.  He was real excited.  
I got out of my bedroll and washed up as others were looking up talking of this thing.  I definitely saw this bright circular object hovering in one place, and I’ll guess that it was about a mile or 2 above us.  It kind of looked like the planet Saturn with rings around it, but later I learned that it’s impossible to see Saturn without a telescope. 
I still wonder what this thing was.  It was very interesting to see this strange object.  We went on with our business and didn’t see anything like it again.
Source of report indicates that the date of the sighting is approximate.  PD