S2 Resources Updates Baloo Mineral Resource Estimate

THE DRILL SERGEANT: S2 Resources (ASX: S2R) released a New Mineral Resource estimate for the Baloo gold deposit in Western Australia.

S2 Resources said the recent drilling at the Baloo gold deposit, located with the Polar Bear project was carried out down dip and down plunge of the previous limits of mineralisation.

The results have enabled the company to calculate a re-estimation of the Baloo Mineral Resource.

The revised Indicated and Inferred Mineral Resource estimate for the Baloo gold deposit comprises 4.22 million tonnes grading 2 grams per tonne gold for a contained 264,000 ounces of gold at a lower cut-off grade of 0.8g/t gold.

S2 Resources said this is a 115 per cent increase in contained gold from the previous resource estimate at the same lower cutoff grade.

S2 Resources explained that nearly all of the increase in the Baloo Mineral Resource estimate comprises Inferred category material as it has been based on recent broad-spaced deeper drilling undertaken down dip from the previous resource limit.

“This drilling has identified a consistent zone of mineralisation which dips steeply to the east and plunges moderately to the south, and is relatively thick (up to 14 metres true thickness),” S2 Resources said in its ASX announcement.

“Mineralisation remains open both down dip and down plunge beneath the limits of this drilling, and on the basis of the deepest drilling to date, appears to be thicker at depth.”

Email: admin@s2resources.com.au

Website: www.s2resources.com.au