Slide 1: Exploration update
Exploration update May 2019
Slide 2: Competent person and forward looking statement
Competent person and forward looking statement This presentation is for information purposes only. Neither this presentation nor the information contained in it constitutes an offer, invitation, solicitation or recommendation in relation to the purchase or sale of shares in any jurisdiction. This pr
Slide 3: In brief…
In brief… Corporate • Well funded with A$13.4 million cash & investments: the capacity to explore • Favourable capital structure: tuned for success • Strong share register: big, long term shareholders that get what we do • Experienced board: track record of delivering exploration, development and fi
Slide 4: Corporate
Corporate Well funded & managed: Cash + investments* A$13.4m Debt Nil Favourable capital structure: Shares on issue 247.9m Options on issue (av. exercise price A$0.35) 53.4m Market capitalisation (@ A$0.11/share) A$27.3m Enterprise value A$13.9m Strong shareholder base: Top twenty shareholders 60.9%
Slide 5: Finland
Finland The initial groundwork has been completed and the methodology is working This is now translating into drill testing of the first crop of gold and copper-nickel sulphide targets With a full pipeline of additional opportunities to follow
Slide 6: Why the Central Lapland Greenstone Belt of northern Finland?
Why the Central Lapland Greenstone Belt of northern Finland? Gold potential: all well explored (mature) gold belts show a Magmatic copper-nickel-PGM potential: Kevitsa mine (Boliden) similar number and size distribution of gold deposits and now the large Sakatti discovery (Anglo American): Abitibi:
Slide 7: Aarnivalkea: textbook greenfields gold exploration
Aarnivalkea: textbook greenfields gold exploration Magnetic and gravity interpretation: the aim is to define key Gold in ionic leach geochemical sampling: the aim is to define structural and stratigraphic ingredients considered favourable for localising mesothermal lode gold mineralisation + “live”
Slide 8: Aarnivalkea: textbook greenfields gold exploration
Aarnivalkea: textbook greenfields gold exploration Base of till (BOT) drilling: the aim is to find the source of the gold in the ionic leach soil anomalies in the glacial cover. BOT holes are drilled through the transported cover (< 5 metres of clay and rubble) to sample the bedrock or rubble erodin
Slide 9: Aarnivalkea: textbook greenfields gold exploration
Aarnivalkea: textbook greenfields gold exploration BOT drilling: has defined a 1.3km long zone of gold anomalous/mineralised rock hidden beneath transported glacial cover in a previously unknown area. The end-of-hole samples are strongly sheared and silica-sericite-albite-pyrite-arsenopyrite altered
Slide 10: Ruopas: searching for the next magmatic Cu-Ni-PGM deposit
Ruopas: searching for the next magmatic Cu-Ni-PGM deposit The Central Lapland Greenstone Belt is highly prospective for magmatic copper-nickel-PGM mineralization, as evidenced by Boliden’s Kevitsa mine and Anglo American’s giant Sakatti deposit, located 85km to the east in the same belt S2’s Ruopas
Slide 11: Ruopas: searching for the next magmatic Cu-Ni-PGM deposit
Ruopas: searching for the next magmatic Cu-Ni-PGM deposit Ionic leach geochemical soil sampling coverage of the Ruopas licence highlights a number of coincident nickel-copper anomalies. Most of these are also cobalt and palladium anomalies (obvious ones outlined in yellow). Coincident Ni-Cu-Co-Pd an
Slide 12: Ruopas: searching for the next magmatic Cu-Ni-PGM deposit
Ruopas: searching for the next magmatic Cu-Ni-PGM deposit Channel 20 of the VEM survey highlights numerous EM anomalies. Many of these are strongly conductive, persisting into late time channels (channel 40). At this scale, any single point EM anomaly could be an expression of significant massive su
Slide 13: Ruopas: searching for the next magmatic Cu-Ni-PGM deposit
Ruopas: searching for the next magmatic Cu-Ni-PGM deposit Follow-up ground EM of selected VTEM anomalies: has 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
Slide 14: The greenfields pipeline: overview
The greenfields pipeline: overview S2 holds a significant ground position in the Central Lapland Greenstone Belt 8 kilometres First pass ionic leach soil geochemistry has been completed over ~60% of S2’s ground Follow up ionic leach has been completed over ~10% of this BOT drilling has been undertak
Slide 15: The greenfields pipeline: Home
The greenfields pipeline: Home Ionic leach geochemical sampling has defined a 4 kilometer long linear gold anomaly on the Home licence The central part of this trend is concealed by bog and therefore not sampled An obvious place for follow up BOT drilling to verify its source
Slide 16: The greenfields pipeline: Putaanpera/Kerjonen
The greenfields pipeline: Putaanpera/Kerjonen Ionic leach geochemical sampling has defined a 3 kilometer long linear gold anomaly on the Putaanpera / Kerjonen licence, coincident with the trend of the Sirkka shear zone The eastern end of this trend is concealed by bog and therefore not sampled, so i
Slide 17: Australia
Australia S2 is back in the Fraser Range, where it all began with Sirius (“S1”) S2 also has the nickel rights at Polar Bear where it intends to follow up its previous nickel intercepts
Slide 18: Fraser Range: back to the future
Fraser Range: back to the future S2 won 3 ballots for ground releases in the Fraser Range These ballots were contested by numerous other players S2 now has sole exploration licence application rights over 170 square kilometres of ground in a district otherwise dominated by Mark Creasy and IGO Public
Slide 19: Polar Bear nickel: Taipan North
Polar Bear nickel: Taipan North S2 retains the nickel rights on the Polar Bear tenements which were sold to Westgold for A$9 million The tenements include the Halls Knoll, Taipan and Taipan North nickel sulphide prospects These were drilled by S2’s forerunner, Sirius Resources, but drilling was curt
Slide 20: Polar Bear nickel: Taipan North
Polar Bear nickel: Taipan North Long projection of the Taipan North nickel prospect showing previous drilling by Sirius (S2’s forerunner) and the three diamond holes planned to test down plunge from previous intercepts: geology and grade/width contours show increasing intensity of mineralization dow
Slide 21: Nevada
Nevada
Slide 22: Why Nevada?
Why Nevada? 3D model showing position of drill targets Endowment Demonstrably elephant country – numerous >10Moz gold deposits Exploration opportunity Surprisingly under-explored for such a major gold producing region Accessibility Exploration friendly infrastructure, topography and climate (counter
Slide 23: Why Ecru?
Why Ecru? Ecru is located 3D model in theposition showing heart ofof elephant country – adjacent to Barrick’s Cortez district drill targets landholdngs which contain ~50Moz gold Barrick’s recent Fourmile discovery reaffirms the potential and the opportunity in this district, comprising thick, extens
Slide 24: Ecru: elephant country
Ecru: elephant country Robertson Approximate location of S2’s Ecru project Trace of Abyss thrust Pipeline (~20Moz) Horse Canyon Fourmile Goldrush Cortez Hills (~10Moz) (~15Moz)
Slide 25: Ecru: location
Ecru: location Ecru is along the projected strike extension of the thrust fault that controls Barrick’s >20 million ounce pipeline gold mine Detailed AMT and gravity surveys have defined a broad, highly conductive zone measuring 2 kilometres across, open to the south towards Barrick’s Robertson reso
Slide 26: Ecru: status
Ecru: status S2’s first two drillholes (NECD0001 & 0002) did not reach target depth (lower plate) due to drilling problems, but encountered low level gold in the upper plate rocks above the target zone Considering moving south towards Barrick’s Robertson resource, which is in upper plate rocks and c
Slide 27: Summary
Summary • S2 is well funded to realise its exploration opportunities with A$13.4 million and prudent financial management • In Finland the hard yards have been done (proof of concept and methodology, initial recon) and we are positioned to begin drill testing our first crop of gold and copper-nickel