Jillewarra

S2 entered into a binding earn-in agreement (commencing October 2020) with private company Black Raven Mining Pty Ltd to earn a majority interest into the Jillewarra project, located approximately 50 kilometres west-northwest of Meekatharra in Western Australia's highly prospective Murchison Goldfields. The project comprises tenements covering a total area of 443 square kilometres within a greenstone belt prospective for both gold and base metals.

S2 is earning a majority interest in the Jillewarra project in two stages, comprising an initial 51% by spending A$5 million by the 2 October 2026 and an additional 19% to take it to 70% by completing a feasibility study by the 2 October 2028.

Following a comprehensive prospectivity review and targeting exercise S2 identified a high priority target zone referred to as “Karbah” which spans a 35-kilometre strike length along the Karbah Shear Zone (KSZ).  The KSZ is a regionally significant north-northeast trending striking shear zone, that is interpreted to extend southward through Westgold’s Big Bell gold mine and Spartan Resources’ recent discoveries at the Never Never – Pepper gold deposits (see Figure 1). This shear zone is concealed by transported cover and effectively unexplored. Upon granting of the relevant tenements, exploration will be focused on this Karbah target zone as a priority for S2’s activities at Jillewarra.

Negotiations with the traditional owners are ongoing in relation to a Heritage Protection Agreement, which is a necessary prerequisite for granting several key exploration licence applications covering the southeastern portion of the project—where the concealed Karbah gold target is located.

S2 would like to acknowledge the traditional owners of the land on which the Jillewarra project is located, the Wajarri Yamaji, and we pay respect to their elders past, present and emerging. See also Working With Traditional Owners.

S2 also recognises that the area is home to a diverse community of stakeholders and hopes to work together with pastoral landowners, aboriginal representatives as well as the local residents and businesses of Meekatharra in a collaborative and constructive manner to unlock the economic potential of the area whilst preserving its environmental values and quality of life for all. See also Community Relations.

For detailed information on exploration activities to date please refer to our ASX announcements.

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