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    S2 Resources Signs Earn-in Deal with Valkea for Three Gold Projects in Victoria

    Gabrielle De La Cruz
    Dec. 06, 2024 09:20AM PST

    Under the deal with Valkea, S2 Resources has the right to earn an 80 percent stake in the Silverspoon, Yeungroon and Ballarat West gold projects.

    Gold bars in mini shopping cart.
    Pla2na / Shutterstock

    S2 Resources (ASX:S2R) said Wednesday (December 4) that it has signed an earn-in deal with Valkea Resources (TSXV:OZ,OTCQB:OZBKF) as part of the recently completed sale of its Finnish assets to Valkea.

    S2 has gained the right to earn an 80 percent interest in Valkea’s Silverspoon, Yeungroon and Ballarat West gold projects in Victoria, Australia, by providing funding of AU$1.2 million within four years.

    Silverspoon holds one granted exploration licence and is located 15 kilometres southeast of the Fosterville gold mine, while Yeungroon comprises three licences and covers 728 square kilometres near Charlton and Wedderburn.


    Ballarat West is a 788 square kilometre project that “covers several known historically productive 'deep lead' gold mines beneath the widespread post-mineralisation basalt cover within the project area.” No exploration has been performed so far, but S2 believes that the deep leads hint at its potential to host significant bedrock gold mineralisation.

    “S2 can withdraw from any or all of the projects at any time providing the tenements are in good standing on a pro-rata expenditure commitment basis for a minimum of three months from the date of its withdrawal notice,” the firm said.

    The earn-in period will only start once parties have satisfied the agreement’s conditions.

    Should S2 be unable to undertake exploration due to land access, permitting delays or other outside restrictions, the company will be entitled to a reasonable earn-in term extension.

    The agreement is subject to Valkea receiving TSX Venture Exchange approval and ministerial approval in Victoria.

    S2 holds a 45 percent stake in Valkea as part consideration for the sale of its Finnish asset.

    Don’t forget to follow us @INN_Australia for real-time news updates!

    Securities Disclosure: I, Gabrielle de la Cruz, hold no direct investment interest in any company mentioned in this article.

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    Gabrielle De La Cruz

    Gabrielle De La Cruz

    Writer

    Gabbie graduated with a journalism degree from Colegio de San Juan de Letran - Manila and has produced articles on a variety of topics, such as infrastructure, business and technology. Her creative portfolio includes written work on architecture, art and design. Gabbie covers the Australian market for the Investing News Network, focusing on the mining sector.

    When not in front of her desk, she is out scanning through vinyl records, exploring the international coffee culture and fighting for queer rights.

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    Gabrielle De La Cruz
    Gabrielle De La Cruz

    Writer

    Gabbie graduated with a journalism degree from Colegio de San Juan de Letran - Manila and has produced articles on a variety of topics, such as infrastructure, business and technology. Her creative portfolio includes written work on architecture, art and design. Gabbie covers the Australian market for the Investing News Network, focusing on the mining sector.

    When not in front of her desk, she is out scanning through vinyl records, exploring the international coffee culture and fighting for queer rights.

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