S2 Resources (ASX: $S2R) provides update on Greater Fosterville project

S2 Resources Ltd (ASX: $S2R) has received further assay results from the initial diamond drillholes at the Goornong prospect, with high-grade gold in SFVD0005. The drilling down the axial plane of the anticline has successfully identified multiple mineralised structural positions that will provide the basis for developing a detailed 3D structural model to use for future vectoring. The drilling is continuing at Goornong with SFVD0006 and SFVD0004, either side of SFVD0005, in progress.

Executive Commentary on Exploration Results

The results so far have confirmed the geological model, identified several potentially favourable offsetting structures, and as a bonus in SFVD0005, identified several zones of high-grade gold mineralisation associated with quartz veining, sulphide alteration, and intrusive dykes. The identification of mineralisation in holes drilled at such a distance apart is considered very encouraging, and the outcomes of holes 4 and 6 will further build the structural picture and provide a good basis for considering the next steps.

Summary of Greater Fosterville Project Update

S2 Resources Ltd (ASX: $S2R) has provided an update on its Greater Fosterville project, with high-grade gold assay results from the Goornong prospect drilling. The results have confirmed the geological model and identified several potentially favourable offsetting structures. The drilling program aims to define the three-dimensional architecture of folding and faulting as an initial step in vectoring into potentially favourable positions for gold mineralisation. The company's first drilling program is testing a favourable gold corridor centred on the Goornong prospect, located immediately north of Agnico Eagle's Fosterville mine lease. The program is designed to deliver a more detailed understanding of the structural and stratigraphic architecture of the Goornong South trend. S2 Resources is undertaking a combination of conventional across-strike holes in the shallower part of the system and unconventional strike-parallel holes down the axial plane of the target anticline corridor to test multiple structural positions that cross the anticline. The company aims to effectively test for significant mineralisation along the Goornong South anticline trend and has a minimum expenditure commitment of A$10.4 million over the first five-year term of the licence, inclusive of a minimum A$2.1 million commitment in the first two years.