Southern Cross Gold (ASX:SXG) is pushing to define the full extent of the mineral system within the Sunday Creek Gold-Antimony Project in Victoria, via drilling programs.
Five drill rigs are currently operating onsite and a sixth is scheduled to arrive in December 2024.
Southern Cross Gold, which has a market capitalisation of $559.61 million, plans to complete 60km of drilling over the next year, which further reflects its confidence in the project’s potential.
The latest drilling has revealed gold grades at depth at the historical Golden Dyke mine area, which supports the growth potential of the zone.
Key results include 5.5m @ 25.4 grams per tonne gold, including a “high-grade” zone of 1.4m @ 101.1g/t gold, extending known mineralisation 100m to 200m deeper than previous drilling.
Managing Director Michael Hudson says the company believes it is still in the early stages of revealing Sunday Creek’s true scale.
“These results from Golden Dyke continue to validate our conviction that Sunday Creek represents one of the most significant global gold discoveries in recent years,” Hudson says.
“The consistency and grade of mineralisation we’re seeing at depth matches or exceeds what we’ve found closer to surface, and importantly, these results fall entirely outside our January 2024 exploration target area.
“With five rigs currently drilling and extremely high and consistent gold and antimony grades, we believe we’re still in the early stages of revealing Sunday Creek’s true scale.”
The Sunday Creek Project is located 60km north of Melbourne within 16,900 hectares of granted exploration tenements.
Southern Cross Gold is a precious metals explorer focused on its assets in the Victorian Goldfields region.
Write to Aaliyah Rogan at Mining.com.au
Images: Southern Cross Gold
