S2 expands Victorian gold portfolio
ASX-listed S2 Resources has secured its fourth gold project in Victoria, finalising an agreement to acquire TSX-V-listed Valkea Resources' 51% interest in the Glenfine joint venture (JV).
This marks the final stage of S2’s recent sale of its Finnish assets to Valkea, reinforcing its strategic focus on the gold-rich central Victorian region.
The Glenfine JV spans 92 km2 and covers 25 strike kilometres of the Avoca Fault zone, a key gold-bearing structure in Victoria’s north-central goldfields. The project includes two granted exploration licences, EL5344 and EL5434, and is situated south of S2’s recently acquired Silverspoon, Yeungroon, and Ballarat West exploration projects.
Under the earn-in agreement, S2 can acquire Valkea’s 51% interest by investing A$200 000 over four years, subject to TSX-V approval. This transaction grants S2 further exposure to prospective gold acreage in Victoria, supplementing its growing portfolio in the region.
S2 noted that Glenfine hosts known gold mineralisation, including high-grade historical intercepts that warrant follow-up exploration. The area has a rich gold mining history, with the Glenfine South mine previously producing 43 700 oz of gold at an average grade of 16 g/t.
“The addition of the Glenfine JV to our Victorian portfolio is a significant milestone, further solidifying our presence in one of Australia’s most prospective gold jurisdictions,” S2 stated.
This agreement follows S2’s December 2024 announcement of its earn-in to three other Valkea projects in Victoria, demonstrating the company’s commitment to expanding its exploration footprint in the region.
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