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S2 Resources Ltd.
Summary
| Project: | Polar Bear | |
|---|---|---|
| Deposit: | Baloo | |
| Location: | Australia | |
| Commodities: | Gold | |
| Date: | 2/13/2017 | |
| Report Code: | JORC | |
| Report Type: | Resource Estimation | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 13-2-2017: S2 Resources Ltd. announces a Resource Estimation report for its Baloo deposit at the Polar Bear project. Updated resource estimate for Baloo. S2 Resources Ltd (“S2” or the “Company”) provides an update regarding recent drilling and reestimati | |
| Resources: | (Resource, I+I): 4.22Mt @ 2.0g/t Au for 264koz Au contained at Baloo (0.8g/t Au cutoff) | |
| CP/QP: | [Resources]: Brain Wolfe (IRS Pty Ltd.) | |
| ABSTRACT: | S2 Resources Ltd (“S2” or the “Company”) provides an update regarding recent drilling and reestimation of the Mineral Resource at Baloo, at its Polar Bear project in Western Australia. Recent drilling down dip and down plunge of the previous limits of mineralization have enabled a reestimation of the Baloo Mineral Resource. The revised Indicated + Inferred Mineral Resource estimate for the Baloo gold deposit comprises 4.22 million tonnes grading 2.0 g/t gold for a contained 264,000 ounces of gold at a lower cutoff grade of 0.8 g/t gold. This is a 115% increase in contained gold from the previous resource estimate at the same lower cutoff grade Nearly all of the increase in the Baloo Mineral Resource estimate comprises Inferred category material. This is because it is based on recent broad-spaced deeper drilling undertaken down dip from the previous resource limit. This drilling has identified a consistent zone of mineralization which dips steeply to the east and plunges moderately to the south, and is relatively thick (up to 14 metres true thickness). Mineralization 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 (see Figure 2). | |
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