Southern Cross Gold (ASX:SXG) has extended mineralisation down dip at the Golden Dyke prospect in Victoria, after receiving drilling results from four diamond drillholes.
At Golden Dyke, which sits within the Sunday Creek Gold-Antimony Project, drillhole SDDSC120 intersected five vein sets and discovered a new mineralised vein set 450m down dip, below previous drilling.
Some of the results include 2.7m @ 6.1 grams per tonne (g/t) gold-equivalent (4/5g/t gold and 0.8% antimony) from 600.4m, including 0.9m @ 12.9g/t gold-equivalent (9.6g/t gold and 1.7% antimony) from 602.1m.
At the Rising Sun prospect, drillhole SDDSC121W1 was drilled west to east to extend the strike length of the northwest-southeast oriented vein sets. The hole intersected six vein sets and one previously unmodelled vein set.
Southern Cross reports some of the results include 1m @ 11.7g/t gold-equivalent (3.1g/t gold and 4.6% antimony) from 618.6m, including 0.7m @ 15.2g/t gold-equivalent (2.8g/t gold and 6.6% antimony) from 618.9m.
Managing Director Michael Hudson says although results were moderate, this is a “large” step as for the first time, the mineral system continues 450m below the main historic mines on the project.
“It also leads to further opportunities to multiple ‘golden ladder’ host structures,” Hudson says.
“Further drilling is of course required to demonstrate how the system will develop in these areas, which we are already undertaking. Given the success of the system getting better at depth in the adjacent Rising Sun and Apollo areas, we have high expectations.”
Hudson adds that while Southern Cross extended Golden Dyke’s mineralisation, the drillholes results show the robustness of the company’s geological model and the ability to increase ounces by targeting “high-grade” strike extensions of multiple vein sets.
The company has secured a fifth drill rig, which has arrived at site and is drilling the Christina prospect, which lies 500m west of Golden Dyke.
Southern Cross adds eight drillholes on the project are being processed and analysed, with five holes in progress.
The Sunday Creek Project is a shallow orogenic Fosterville-style deposit which lies 60km north of Melbourne and covers 19,385 hectares of granted exploration licences and one granted retention licence.
Write to Aaliyah Rogan at Mining.com.au
Images: Southern Cross Gold
