Identifies New Parrallel Gold Trend
S2 Resources Ltd (ASX:S2R) continues to grow the Margueritta prospect within the Jillewarra Joint Venture (JV, S2 earning up to 70%) in Western Australia.
The company has received results for the last nine reverse circulation (RC) holes drilled along the mineralised trend that includes the Dorothy and Margueritta prospects, which in conjunction with recent aircore drilling, has extended the mineralised trend at Margueritta approximately 300m south.
Results include:
Margueritta South (downhole widths):
- 4 metres at 11.1g/t gold from 28 metres, including 1 metre at 28.6g/t gold from 29 metres, and 5 metres at 2.6g/t gold from 42 metres in SJWC0011
- 2 metres at 1.3g/t gold from 37 metres in SJWC0014
Margueritta (downhole widths):
- 3 metres at 2.3g/t gold from 41 metres in SJWC0006
- 8 metres at 1.7g/t gold from 39 metres in SJWC0009
- 4 metres at 0.7g/t gold from 20 metres and 4 metres at 1.2g/t gold from 96 metres in SJWC0008
The company said the recent S2 RC and aircore drilling, together with historic drill holes have highlighted a coherent gold and arsenic anomalous zone extending for approximately 300m at Margueritta South.
Parallel mineralised trend identified between the Margueritta and Western Trends
Recent rock chip sampling has identified a third trend approximately 300m to the west of Margueritta. These rock chips grade up to 16.0 g/t gold and line up with historical workings and anomalous intercepts in historical drilling to define a linear trend extending for over 1.5 km.
This has only been tested by five shallow historic reconnaissance drill lines, and four of these lines intercepted anomalous gold, with better results including 6.0 metres at 0.8g/t gold from 2.0 metres (DH037) and 15 metres at 0.4g/t gold from 15 metres (MRR029). This gold mineralisation is associated with deeply weathered felsic porphyry on a contact with basalt.
Aircore drilling ongoing
Aircore drilling is ongoing at Jillewarra with the rig currently at the newly defined Western Trend undertaking infill drilling to the south and extensional drilling to the north.
Broad spaced reconnaissance drilling is also targeting an area of interpreted structural and geological interest where aeromagnetic imagery shows a bifurcation of stratigraphy to the NW and NNW. Historic workings are present in the area and anomalous gold has been detected in very limited historic drilling and surface geochemistry.
S2 says Jillewarra remains largely under explored with 50 km strike of prospective Archaean greenstone geology and very limited drilling below 70m.
“S2 will continue its systematic approach to identify and drill test targets throughout the Jillewarra Belt. To date, 30 targets have been identified based on structural and geological interpretation, evidence of historical workings and historic exploration data,” management stated.
