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S2 Resources Ltd.
Summary
| Project: | Polar Bear | |
|---|---|---|
| Deposit: | Nanook | |
| Location: | Australia | |
| Commodities: | Gold | |
| Date: | 6/29/2016 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 29-6-2016: S2 Resources Ltd. announces an Exploration/Drilling Update report for its Nanook deposit at the Polar Bear project. Drilling results incl. 12m @ 1.95g/t Au from 57m. S2 Resources Ltd (“S2” or the “Company”) advises that a broad spaced 27 hole r | |
| Resources: | (Resource, Inf.): 2.2Mt @ 1.2g/t Au for 84000oz Au contained at Nanook | |
| CP/QP: | [Overall Report]: John Bartlett (Internal) | |
| ABSTRACT: | S2 Resources Ltd (“S2” or the “Company”) advises that a broad spaced 27 hole reconnaissance RC drilling program was recently completed at the Nanook prospect with the aim of identifying various possible local bedrock sources for the extensive zone of gold hosted within gravels at the base of the Nanook palaeochannel. This drilling was co-funded by the Government of Western Australia under its Exploration Incentive Scheme (EIS). To date results have been received for 16 holes. The RC drilling confirmed the continuity and thickness of gold mineralisation in gravels at the base of the Nanook palaeochannel, and extending into the weathered bedrock immediately beneath it (see Figures 1 and 2). A line of drill holes was also completed to the north of the palaeochannel to follow-up an in-situ high grade gold intersection from earlier aircore drilling (4m @ 50.7 g/t Au from 48m in SPBA3804). The RC hole drilled along strike from this previous aircore intersection intersected gold mineralisation associated with quartz veining in weathered bedrock. An additional RC drill hole has been completed to test down dip of this intersection in the fresh rock with results yet to be received. A number of other narrow zones of bedrock gold mineralisation were also intersected in other RC holes but the limited drilling completed to date has not yet identified an obvious source for the large palaeochannel gold resource at Nanook. Assays are still awaited for a further eleven holes. | |
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