S2 Resources (ASX:S2R) has completed its initial seven-hole reconnaissance drilling program and extended the regional gravity survey at its Warraweena Project in northern New South Wales, where the company is earning up to 70% (potentially 80%) interest in Oxley Resources ground as well as holding 100% of its own tenements.
The program, targeting six geophysical anomalies concealed beneath alluvial cover, intersected widespread volcanic rocks with calc-alkaline affinities, similar to the Macquarie Arc—home to major porphyry and epithermal copper-gold deposits.
Hole SWAD0003 returned elevated copper values, including 1m at 0.12% copper within 17m averaging 601 ppm, associated with chlorite-epidote altered volcanics and quartz-carbonate veining with disseminated chalcopyrite.
Minor disseminated native copper was also observed in SWAD0001 and SWAD0005.
Drilling did not intersect the source of prominent magnetised bodies identified in aeromagnetic surveys, suggesting the intrusions may be deeper or narrower than predicted, leaving potential for preserved mineralised systems.
In addition to drilling, S2 has extended gravity coverage by 30% of the project area and plans passive seismic, induced polarisation, and magnetotelluric surveys to refine targets.
A new exploration licence (EL9836), covering historical gold mineralisation, was also recently granted, providing further priority targets for upcoming exploration campaigns.