S2’s Glenlogan Discovery Raises Stakes Ahead of Critical Drilling Phase

Geophysical Breakthrough at Glenlogan

S2 Resources Ltd has announced a significant advancement in its exploration efforts at the Glenlogan Project, located in the highly prospective Lachlan Fold Belt of New South Wales. Utilizing a combined tensor induced polarisation (TIP) and magnetotelluric (MT) survey, the company has identified a discrete semi-coincident anomaly indicative of porphyry-style copper-gold mineralisation. This discovery follows encouraging results from a 2024 drill hole that intersected increasing copper, gold, and disseminated pyrite associated with quartz diorite porphyry dykes.

The geophysical anomalies comprise chargeable and conductive zones on the northeastern flank of a large magnetic intrusion, a classic signature often associated with mineralised porphyry systems. These anomalies are interpreted to represent alteration and mineralisation linked to a smaller intrusive body situated on the periphery of the main magnetic intrusion, consistent with known porphyry deposit models.

Context Within a World-Class Mineral District

The Glenlogan Project sits within a region renowned for world-class copper-gold deposits, including Newmont's Cadia-Ridgeway and Evolution Mining's Cowal and North Parkes mines. The project's geological setting, beneath younger Silurian and Devonian cover sequences, preserves the potential for significant porphyry mineralisation at depth. The magnetic anomaly targeted by S2 is modelled to lie between 450 and 600 metres below surface, with the newly identified anomalies starting at approximately 300 metres depth, suggesting a shallower and potentially more accessible target zone.

Strategic Next Steps and Joint Venture Dynamics

Building on these findings, S2 Resources plans to conduct a detailed dipole-dipole induced polarisation survey to enhance spatial resolution of the chargeability and resistivity anomalies. This will aid in optimally siting the next drill hole to test the newly identified target. The company is currently earning up to an 80% interest in the Glenlogan Project from Legacy Minerals, with commitments including a minimum of 1,200 metres of diamond drilling within 12 months and up to 8,000 metres over the earn-in period.

The joint venture structure provides S2 with significant upside while managing exploration risk, with Legacy retaining a carried or participating interest and potential royalty arrangements. This framework supports sustained exploration investment as the project advances through its critical early stages.

Implications for S2 Resources and the Market

The identification of a discrete porphyry-style target at Glenlogan represents a meaningful step forward for S2 Resources, potentially unlocking a new copper-gold system in a prolific district. While the anomalies and initial drilling results are encouraging, confirmation through further geophysical refinement and drilling will be essential. Success here could significantly enhance the company's resource base and valuation, attracting investor interest in a sector increasingly focused on copper-gold opportunities.

As the company prepares for its next phase of exploration, market watchers will be keenly observing the results of the upcoming surveys and drill programs, which will provide critical data on the scale and grade potential of the target.