S2 Resources (ASX:SR2) has completed an initial reconnaissance drilling campaign at the Warraweena Project in northern New South Wales, while extending a regional gravity survey.
The company conducted drilling across seven holes to characterise six initial geophysical targets that host differing styles of gravity and magnetic anomalism.
S2 will conduct an induced polarisation and magnetotelluric surveys in Q2 2026, following up on these results.
Six of the drillholes were drilled along the northeast trending magnetic belt, where drilling intersected a sequence of magnetic andesitic to basaltic volcanic and volcanoclastic rocks.
The final hole targeted an isolated gravity high to the north of the interpreted volcanics, intersecting a package of highly deformed sedimentary rocks.
The company intersected a zone of copper anomalism at hole SWAD0003 comprising 17m @ 601 parts per million copper from 147.5m, including 1m @ 0.12% copper from 158.8m.
S2 also observed minor disseminated native copper in hole SWAD0001 and hole SWAD0005.
The company says the drilling campaign did not explain the source of discrete, prominent remnant magnetised bodies observed in the aeromagnetic data, likely due to intrusions being buried at depth below the basement interface or holding a smaller footprint than indicated in magnetics.
S2 Resources entered an agreement with privately held Oxley Resources in the Warraweena Project in December 2023, in order to earn up to 70% interest in the project. The company has the potential to extend its holding in the asset up to 80%.
Write to Maddison Elliott at Mining.com.au
Images: S2 Resources
