The best hit from the ASX-listed company’s first three drill holes was 2.13 metres grading 8.2% zinc and 1.7% copper within a broader true width interval of 14.7m at 2.2% zinc and 1% copper from 176m down hole.
The drilling means Bjurtraskgruvan has been outlined over a strike length of 260m and down plunge extent of 330m, with downhole EM indicating further extensions.
Bjurtraskgruvan is part of S2’s Skellefte project and was originally identified and drilled by the Swedish Geological Survey in the 1940s.
Swedish producer Boliden mines VMS deposits in the region.
Last year S2 commissioned the first VTEM surveys flown in the region.
S2 also holds an emerging gold play in Finland, and is exploring for gold near Kambalda in Western Australia.
The cashed up junior was an offshoot of Sirius Resources after that company was taken over by Independence on the back of the world-class Nova nickel-copper discovery in WA.
Shares in S2 were unchanged at 25c in late morning trade, capitalising the company at $61 million.
The company started 2017 with $A21.7 million cash.
