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S2 Resources Ltd.
Summary
| Project: | Polar Bear | |
|---|---|---|
| Deposit: | Monsoon | |
| Location: | Australia | |
| Commodities: | Gold | |
| Date: | 9/30/2016 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 30-9-2016: S2 Resources Ltd. announces an Exploration/Drilling Update report for its Monsoon deposit at the Polar Bear project. Drilling results incl. 1m @ 38g/t Au from 213m. S2 Resources Ltd (“S2” or the “Company”) advises that results have been receive | |
| Resources: | (not mentioned in this report) | |
| CP/QP: | [Overall Report]: John Bartlett (Internal) | |
| ABSTRACT: | S2 Resources Ltd (“S2” or the “Company”) advises that results have been received for the final two diamond holes drilled as part of the initial drilling program to follow up the original high grade gold intercepts in RC holes SPBC0313 and SPBC0320 previously reported in the Company’s ASX announcement of 21st July 2016. These two diamond holes were drilled on lines located 40 and 100 metres north of SPBC0313 (the high grade RC intercept of 66 metres @ 11.4g/t gold), with one of these holes (SPBD0326) being a deep hole on the same section as SPBC0320 (the second of the original high grade RC intercepts of 38 metres @ 6.41 g/t gold, located 40 metres north of SPBC0313), and the second diamond hole (SPBD0327) being a further 60 metres north of this (see Figure 1). Like previously reported follow up holes, these two holes were also drilled towards the west in the opposite direction to the original RC drilling. Diamond hole SPBD0326, drilled deeper on the same section as RC hole SPBC0320 ([email protected]/t gold uncut), intersected [email protected]/t gold from 194 metres and 1m@38g/t gold from 213 metres (see Figure 2 and Annexure 1). The new intercepts, despite being drilled from the opposite direction, occur at a similar location with respect to the basalt-shale contact as some of the higher grade intervals originally identified in RC hole SPBC0320. The mineralization intersected in SPBD0326 is located approximately 100 metres vertically below the high grade mineralization originally intersected in SPBC0320. Visual inspection of the 38g/t interval suggests that the gold is likely to be due to coarse gold in a narrow vein within that metre interval. If the intersections in these two holes correlate, they would define a subvertically oriented zone of variable grade mineralization of variable grade and width. | |
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