viewS2 Resources

S2 Resources moving into explore the gold riches of Nevada, U.S.

The state of Nevada is the 5th largest gold producing district in the world.

A highway in Nevada
S2 is planning to spend US$3 million within 5 years.

S2 Resources (ASX:S2R) has signed an agreement with Renaissance Gold Inc (TSE:REN) to earn a 70% interest in three gold exploration properties situated on major mineralised trends in Nevada, U.S.

Renaissance Gold specialises in generating prospects and joint venturing these with larger partners, and has been involved in several significant discoveries, including the Long Canyon deposit.

The Long Canyon deposit was ultimately bought by Newmont Mining Corp (NYSE:NEM) for US$2.3 billion.

S2 is planning to explore several drill-ready, Carlin-style gold targets defined by geology, geophysics and geochemistry, including:

- The Ecru property, located adjacent to Barrick Gold Corp’s (TSE:ABX) giant Cortez-Pipeline-Goldrush deposit cluster (circa 50 million ounces of gold);

- The Pluto property, containing up to 13.1 g/t gold in outcrop, despite the main target zone (most receptive host rocks) interpreted to be at a greater depth; and

- The South Roberts property, comprising a Carlin-style target located under cover and along trend from several world class Carlin-type gold deposits.

S2 must spend a minimum of US$200,000 within two years and, can earn a 70% interest by spending US$3 million within 5 years.

The state of Nevada is rated as the 4th best mining jurisdiction in the world and is the 5th largest gold producing district in the world, with an estimated endowment of over 360 million ounces.

Quick facts: S2 Resources

Price: 0.105 AUD

Market: ASX
Market Cap: $26.03 m

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