Fennoscandian Assets

 

S2 has a large area of the prospective Central Lapland Greenstone Belt of arctic Finland under tenure via a mix of Reservations, Exploration Licence applications and granted Exploration Licences. These areas are not extensively or effectively explored, yet host a number of significant deposits and prospects, including Agnico Eagle’s Kittilä gold mine, Anglo American’s Sakatti nickel-copper–platinum deposit, and Boliden’s Kevitsa copper-nickel mine.

Following the successful employment of an extensive ionic leach geochemical in the summer of 2018, S2 committed to getting the central corridor of the Paana lease fast tracked to grant so that the next stage of the exploration program, Base of till drilling (BoT) , could be started.

The Paana Central tenement was subsequently granted in late 2018 and BoT drilling started in early 2019. This technique allows direct sampling of bedrock beneath up to 15 metres of glacial cover. Initial drilling was spaced 400m x 20m and indicated that several strong anomalies existed, the most extensive of which was infilled at a much tighter spacing 100 x 10m and subsequently given the prospect name of Aarnivalkea.

Aarnivalkea was subsequently reconnaissance drilled in July 2019 on 320 x 40m centres to 80m depth and to date has yielded encouraging results with broad zones of strong shearing and alteration and several intervals of highgrade gold mineralisation. Reconnaissance style drilling and infill will continue in the winter season when all the anomaly is drill accessible. BoT drilling will be extended to the south and west.

The Aakenusvaara tenement was granted in late July 2019. It is a known gold prospect discovered in 1984 but was ineffectively drilled by Outokumpu in the 1980’s, despite shallow intercepts of up to 11m @ 9.6g/t gold. Historic gold assays are associated with sulphide, breccia and albite alteration zones. Nine holes have been drilled in August 2019 and have Intersected 5-15 metre widths of visually similar material in all holes, with assays awaited.

At Ruopas, which is considered prospective for magmatic nickel-copper sulphide deposits like Anglo American’s nearby giant Sakatti deposit, several discrete coincident nickel-copper-cobalt-palladium anomalies have been identified. A large VTEM airborne electromagnetic survey was undertaken during the autumn of 2018 which was then followed up with ground based Fixed-loop EM which defined a discrete EM conductor located on a gravity ridge, along strike from known ultramafic rocks concealed beneath a shallow bog and associated with >4km long copper and nickel anomaly in historic BOT drilling. This is scheduled for drilling as soon as ground and access permits are in place.

As a result of these activities, S2’s Finnish tenure is now being intensely tested over the coming 12 months with the aim of discovering significant lode gold or magmatic sulphide mineralization.