S2 Resources confirms Swedish VMS-Style zinc

/in /by

THE DRILL SERGEANT: S2 Resources (ASX: S2R) has received assay results from its first two drill holes carried out at the company’s 100 per cent-owned Skellefte project in Sweden.

S2R said the drilling had confirmed the presence of zinc mineralisation at the Svan Vit prospect on the Skellefte project.

Down hole electromagnetic (DHEM) surveying in these holes have shown the main part of the targeted EM conductor to be located off the drill section and that the first two holes intersected the western margin of this EM conductor.

A third, deeper, hole did not intersect mineralisation but DHEM in this hole has identified a second EM conductor that has not yet been drill tested.

The first hole (SSVA160001) clipped the top of the ground EM conductor model and intersected a narrow zone of mixed sulphide mineralisation and intersected:

0.55 metres at 1.49 grams per tonne gold, 45g/t silver from 25.3m; and

1.05m at 2.87 per cent zinc, 5g/t silver from 88.7m.

The second hole (SSVA160002), drilled 90 metres down dip of the first through several zones of mixed sulphide mineralization and intersected:

0.55m at 2.23 per cent zinc from 164m;

3.7m at 1.75 per cent zinc, 5.3g/t silver from 170.2m; and

5.05m at 3.15 per cent zinc, 6g/t silver, 0.2 per cent copper from 184.6m.

“The mineralised intervals in these two drill holes broadly coincide with the position of the EM conductor since redefined in a subsequent downhole EM survey,” S2R said in its ASX announcement.

“The first two drill holes appear to have intersected the northern and western margin of the conductor as modelled from downhole EM, and the central part of it has not yet been tested.”

“The outcomes of the downhole EM suggest that the three holes drilled to date have only tested the margins of a potentially much more extensive zone.

“Further drilling will be required to adequately test the Svan Vit prospect given that two of these holes intersected low grade zinc and silver bearing VMS-style mineralisation on the margin of the upper conductor, and the third missed both conductors.

“Drilling will resume as soon as possible later in the year when the ground re-freezes and enables access.”

Email: admin@s2resources.com.au

Website: www.s2resources.com.au