West Murchison Base Metal Project

S2 has applied for three exploration licences, covering an area approximately 690 square kilometres at the West Murchison project, located approximately 500 kilometres north of Perth.

The tenements cover portions of the Narryer Terrane on the northwest margin of the Archaean Yilgarn Craton and are considered highly prospective for mafic/ultramafic intrusive associated magmatic nickel-copper-cobalt-PGE style mineralisation on the basis of interpreted, unexplored mafic-ultramafic intrusions within the granite-gneiss terrain, as evidenced by aeromagnetic data and historic mapping.

A regional soil sampling program completed over one of these ultramafic intrusive bodies that is not concealed by transported cover has identified a coincident nickel-copper anomaly with a peak value of 550ppm copper and 1562ppm nickel.

The anomaly remains open (unsampled) to the east and corresponds with the southern margin of the ultramafic body that magnetic data indicates extends a further kilometre eastward. Gold and PGE analysis has identified a coherent and broad (+10 ppb) gold anomaly over two lines (400 metre spacing), as well as isolated modest platinum and palladium, semi coincident with the nickel-copper anomaly. Infill and extensional soil sampling has been collected with results still pending at the time of writing.

This is the first of several magnetic anomalies, interpreted to represent ultramafic intrusions within the exploration licence applications that will be subject to preliminary prospecting prior to their grant, which is expected to be early in 2021.

Upon grant, a more extensive exploration program, including ground geophysics and reconnaissance drilling will be undertaken over the priority targets.