Southern Cross Gold (ASX:SXG) has expanded its epizonal gold-antimony search by purchasing the Laura prospecting licence (PL6415) in the Victorian Goldfields, Australia.
This prospecting licence was purchased for $300,000 and is one of the ‘higher-grade’ parts of the Redcastle goldfield, where recent drilling uncovered ‘high-grades’ up to 704g/t Au and 24.7% Sb within continuous and targetable structures above a 1.3km-long and coherent IP anomaly.
The IP anomaly sits below historic mines that produced about 20,583 ounces @ 254.6g/t Au over 2km of strike length down to a maximum depth of about 125m during 1859 and 1865.
Southern Cross Gold is intending to progressively drill beyond the ‘high-grade’ intercepts within the Laura area into the 17km of untested reef systems at Redcastle.
Ahead of the company’s presentation on Friday 21 July 2023 at the Noosa Mining Investor Conference, Southern Cross Gold Managing Director Michael Hudson says: “Laura covers the best-drilled gold and antimony grades at Redcastle. Essentially, we have bought a 16-hole drill discovery for less than the cost to drill and an extremely high-grade area from which to expand and build another project of scale for SXG.
“Essentially, we have bought a 16-hole drill discovery for less than the cost to drill…”
While our strategic focus remains firmly down the road at the Sunday Creek gold-antimony project, where we have 4 drill rigs operating, the next steps at Redcastle are to drill beyond the high-grade drillholes within the Laura area, into the 17km of untested reef systems at Redcastle.”
Southern Cross Gold is an ASX-listed natural resources company actively exploring for gold and antimony in the Victorian Goldfields. The company says its flagship Sunday Creek Project has a ‘globally leading’ high-grade hit rate for this stage of the project’s development.
Write to Aaliyah Rogan at Mining.com.au
Images: Southern Cross Gold Ltd
