S2 Resources Extends Gold Anomalies at Yeungroon Project

Expanded Gold Corridor North of Wedderburn

S2 Resources Ltd (ASX:S2R) has unveiled new soil sampling results that confirm and extend multiple broad gold and multielement anomalies at its Yeungroon project in central Victoria. The anomalies form a corridor north of the historic Wedderburn gold field, an area that has seen limited exploration for primary reef gold despite producing approximately 150,000 ounces of alluvial gold historically.

The soil geochemistry reveals both gold-only anomalies and complex assemblages including arsenic, bismuth, copper, silver, molybdenum, lead, and tellurium. This multielement signature suggests intrusion-related magmatic hydrothermal gold mineralisation, a style distinct from the typical epizonal lode gold deposits found elsewhere in Victoria.

Strategic Location Along Major Fault Structure

These anomalies coincide with the projected northern strike extension of the Wedderburn gold field and align with the Avoca Fault, a significant structural break separating the Bendigo and Stawell zones. This fault is considered a major conduit for mineralising fluids, enhancing the prospectivity of the corridor.

Historical workings within the licence area predominantly targeted alluvial gold along creeks, with some shallow quartz reef workings also recorded. The presence of gold anomalies beneath these creeks suggests an underlying bedrock source, which the soil sampling has now begun to delineate.

Earn-In Agreement and Exploration Strategy

S2 is earning an 80% interest in the Yeungroon project from TSXV-listed Valkea Resources (formerly Outback Goldfields Corp, TSXV:OZ) by sole funding up to $1.2 million in exploration over four years. The company plans to commence landholder access negotiations to facilitate further systematic soil sampling aimed at better defining the anomalous trends and prioritising drill targets.

The project covers 728 square kilometres and includes three granted exploration licences. S2’s approach builds on previous reconnaissance work and is supported by geophysical data such as aeromagnetic and lidar surveys, which have guided target selection.

Exploration Techniques and Quality Assurance

The soil sampling program employed a nominal 200 x 50 metre grid, collecting B-horizon samples at approximately 30cm depth. Samples were analysed using Labwest’s Ultrafine+™ methodology, a partial digest technique appropriate for the soil type and mineralisation style. Rigorous QAQC protocols including duplicates and laboratory standards were implemented to ensure data reliability.

While no drilling has yet occurred in the anomalous soil sampling area, the company intends to integrate these geochemical results with historical data and geophysical surveys to refine exploration targets. This methodical approach echoes S2’s recent work at its Silver Spoon project, where significant gold-arsenic and gold-antimony anomalies were also identified, reinforcing the company’s strategic focus on Victorian gold provinces gold-arsenic and gold-antimony anomalies.

Broader Portfolio and Funding Context

S2’s exploration activities are supported by a strong balance sheet, bolstered earlier this year by a A$17 million sale of its Fosterville licence to Agnico Eagle, which also took a strategic stake in the company. This financial position underpins ongoing earn-in agreements across multiple projects, including the Yeungroon and Silver Spoon licences in Victoria and the Loch Lilly-Kars project in New South Wales, where S2 is targeting copper and gold mineralisation in underexplored belts A$17 million sale of Fosterville licence.

With land access negotiations underway and systematic sampling planned, S2 is positioning itself to unlock the primary gold sources beneath a historically prolific alluvial field. The company’s next steps will be crucial in translating soil anomalies into drill-ready targets and ultimately defining economic mineralisation in this emerging Victorian gold province corridor.