S2 Resources hits high-grade gold zone at Monsoon

/in /by

THE DRILL SERGEANT: S2 Resources (ASX: S2R) has completed a first round of Reverse Cycle (RC) drilling at the Monsoon prospect, located within the company’s 100 per cent-owned Polar Bear project in Western Australia.

S2 claimed the drilling to have intersected high-grade gold mineralisation to the north of and below high-grade gold intercepts encountered by previous aircore drilling.

Ten RC holes were drilled in the recent sortie with S2 declaring those that intersected gold mineralisation of note, together with the previous aircore drill intersections, collectively define a zone of gold mineralisation interpreted to be steeply dipping and north plunging.

S2 said the Monsoon prospect remains open along strike and down plunge to the north adding that some of the individual constituent samples within selected intersections are very high-grade, indicating the presence of coarse ‘nuggety’ gold, which the company considers to be consistent with what it has seen in the previous aircore drilling at Monsoon and Nanook, and in recent gravity recovery metallurgical testwork at Baloo.

Key intercepts include a composite zone of 66 metres at 11.4g/t gold from 74m to end of hole in SPBC0313 (uncut) or at 4.2g/t gold (cut).

This was drilled 20m north of the original high-grade aircore intersections, and includes sub-zones of:

8m at 70.5g/t gold from 77m (uncut) or 11.0g/t gold (cut), including 4m at 139g/t gold from 77m (uncut) or 20g/t gold (cut);

13m at 8g/t gold from 90m, including 4m at 14.4g/t gold from 95m; 13m at 3.6g/t gold from 110m, including 2m at 13.5g/t gold from 117m; and

8m at 3.3g/t gold from 130m.

Drilling also encountered a further composite zone of 38m at 6.41g/t gold from 75m in SPBC0320 (uncut) or 1.78g/t gold (cut).

This was drilled 40m north of RC hole SPBC0313, and includes sub-zones of:

8m at 26.7g/t gold from 75m (uncut) or 4.7g/t gold (cut);

9m at 2.1g/t gold from 90m;

3m at 1.11g/t gold from 103m; and

1m at 4.93g/t gold from 112m.

“Collectively, these intercepts appear to define a steeply dipping and north plunging mineralised zone that remains open along strike and down plunge to the north,” S2 Resources said in its ASX announcement.

“The gold mineralisation occurs on a sheared basalt-shale contact, similar to Baloo, and is associated with a large altered shear zone that contains sericite-carbonate alteration and quartz-carbonatesulphide veining, primarily developed within the basalt.”

The Monsoon prospect is situated midway between the Baloo oxide gold deposit (4 kilometres to the north) and the Nanook palaeochannel gold deposit (6 kilometres to the south).

S2 Resources believes the Baloo-MonsoonNanook trend is shaping up as a prospective gold corridor.

The company indicated it would resume follow-up RC drilling at Monsoon as soon as the RC rig can be remobilised to site, most likely in late August.

Email: admin@s2resources.com.au

Website: www.s2resources.com.au