S2 Resources resource definition drilling confirms Baloo gold

THE DRILL SERGEANT: S2 Resources (ASX: S2R) announced the completion of resource definition drilling at Baloo gold deposit, part of the company’s 100 per cent-owned Polar Bear project in Western Australia.

S2R said the final RC assays confirm prior drill results with drilling at the southern end of the prospect confirming the presence of a high-grade lode which is open down plunge to the south.

Assay results for 117 holes have been received showing gold mineralisation occurs in at least two structures (the Main Zone and Footwall Zone) as well as within a number of flat lying ‘supergene’ layers in the hanging wall (to the east side) of the Main Zone.

The Main Zone has been defined over a strike length of 450 metres, which the company said includes a central ‘sweet spot’ within the oxide zone averaging approximately 40m thick, 80m along strike and 80m down dip.

Results from the oxide and transitional zone within the new RC drilling include:

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20 metres at 2.28 grams per tonne gold from 4m;

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17m at 2.13g/t gold from 4m and 8m at 2.38g/t gold from 26m;

“The company’s strategy for Baloo is to define a modest resource and scope its potential to provide cash flow with minimal capital expenditure requirement,” S2 Resources said in its ASX announcement.

“To this end, a mineral resource estimate for the near surface mineralisation delineated to date is anticipated to be completed by mid-March.

“The outcomes of this will form the basis of a scoping study to evaluate its viability for open pit mining and processing either by toll treatment or heap leaching.

“The shallow, wide, and soft characteristics of the central part of the mineralized zone are characteristics that lend themselves well to such scenarios.

“To this end, heritage and environmental surveys have already been completed.”

Email: admin@s2resources.com.au

Website: www.s2resources.com.au