S2 Resources Commences Skeefelte Drilling

THE DRILL SERGEANT: S2 Resources (ASX: S2R) has completed testing of the first of ten targets designated for a northern winter diamond drill campaign at the company’s Skellefte project in Sweden.

S2 Resources said the drilling intersected a minor zone of stringer and disseminated sulphides, for which assays are awaited but are expected to be low grade.

The company has also completed a second VTEM survey over the project area, which has identified numerous new anomalies, one of which coincides with an outcropping copper-zinc bearing sulphides.

The first target to be drilled as part of the planned five month drilling campaign was Svansele 403-3.

According to S2 Resources, this target comprises a subtle VTEM conductor, which has been shown to actually be two separate conductors by a more detailed ground-based moving loop EM (MLEM) survey.

“Two holes, SSVA 1701 and 1702, were drilled to test these, and subsequent down hole EM (DHEM) in the first hole identified a subtle off-hole conductor,” S2 Resources said in its ASX announcement.

“Hole SSVA1703, drilled to test this, intersected a 2.4 metre thick zone of mainly disseminated with some stringer sulphide mineralization from 196.4 metres downhole, comprising pyrite, pyrrhotite and some sphalerite, within a felsic volcanic sequence.”

S2 Resources explained it will take several weeks to receive assays for this intersection, adding that visually it appears to be only weakly mineralised.

“It is, however, encouraging to intersect mineralization within appropriate host rocks at the first target drilled in the campaign,” the company said.

“This is the first target of three in a cluster, with the other two being Svansele 403-2 and Svansele 403-1, which was renamed as the Svan Vit prospect.”

S2 Resources said drilling of these and other targets will continue over the next five months, with priorities being determined primarily by ground access conditions.

Email: admin@s2resources.com.au

Website: www.s2resources.com.au