S2 Resources Ltd. (AU:S2R) has released an update.
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S2 Resources Ltd. announced significant drilling results at their Fosterville site, including a new gold-bearing structure, the Blackadder Fault, with promising yields such as 5.7m at 6.4g/t gold. The company also resumed full ownership of West Murchison and Fraser Range projects after the sale agreement with Pacific State Metals was terminated due to failed IPO conditions. Financially, S2 Resources Ltd. spent A$2.24 million in the quarter with a closing cash balance of A$5.322 million and holds various other assets, including shares in Trinex Minerals.
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