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S2 Resources hits more high-grade gold at Finnish project

The company is encouraged by the fact that two of the four holes in which high-grade gold has been identified are some 575 metres apart.

S2 Resources - S2 Resources hits more high-grade gold at Finnish project
Aarnivalkea is only 24 kilometres from Agnico Eagle’s Kittilä Gold Mine.

S2 Resources Ltd (ASX:S2R) has struck high-grade gold zone for the second time while drilling at the 100%-owned Aarnivalkea prospect in Finland  

Assays from the lower portion of diamond hole FAVD0064 confirm a second high-grade zone and this is around 575 metres north of a high-grade intercept in hole FAVD0062 and 75 metres down dip of the nearest hole on the section.

The company intersected 20.4 metres at 2.3 g/t gold from 193.1 metres in hole FAVD0064, including 8 metres at 4.8 g/t from 198 metres.

This followed the previous high-grade result of 6.85 metres at 11.8 g/t from 223 metres, including 4 metres at 18.1 g/t from 223 metres in FAVD0062.

The latter hole was the northernmost of four holes drilled in October 2020 to test for dip and plunge extensions to the gold mineralisation discovered in previous shallow reconnaissance drilling at Aarnivalkea.

“Barely scratched surface”

S2’s chief executive officer Matthew Keane said: “S2 has barely scratched the surface at Aarnivalkea after making a virgin gold discovery in 2019.

“The majority of holes to date have been drilled to less than 110 metres below the surface on broad, 80 to 240-metre spaced section lines.

“The four deeper holes drilled in October 2020 were designed to test the depth potential of the ‘smoke’ identified in this earlier shallow reconnaissance drilling.

“The fact that two of the four holes identified high-grade gold, some 575 metres apart, is highly encouraging.”

Aarnivalkea prospect

Aarnivalkea is only 24 kilometres from Agnico Eagle’s Kittilä mine, the largest producing gold mine in Europe.

Mineralisation at Aarnivalkea remains open in all directions and there is no drilling below a depth of 120 metres between the intercepts in holes FAVD0062 and FAVD0064.

These two holes are the only holes testing the depth potential beneath the main Aarnivalkea zone previously discovered in shallow reconnaissance drilling.

Nearest diamond drill lines to FAVD0064 are 320 metres north and 120 metres south, with the former including hole FAVD0030 with 3 metres at 1.3 g/t gold from 47.9 metres followed by 3 metres of core loss in heavily weathered bedrock.

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