Join our daily newsletter At The Bell to receive exclusive market insights
- Southern Cross Gold (SXG) strikes wide and high-grade gold at its Sunday Creek project in the Victorian goldfields
- The company received assays from six diamond drill holes completed during a recent IPO process at the project which returned up to 3.9 g/t gold and 0.6 per cent antimony
- With the results from six holes out of 10 now complete, drill core from the further four holes has been forwarded to laboratories for assay
- Geochemical results are anticipated to be released soon, while the company’s drill rig continues to operate
- Southern Cross Gold ends the day five per cent in the red with shares trading at 19 cents
Southern Cross Gold (SXG) has struck wide and high-grade gold at its Sunday Creek project in the Victorian goldfields.
The company received assay results from six diamond drill holes that were completed during a recent IPO process at the Sunday Creek project.
The company received results including 17.3 metres at 3.9 grams of gold per tonne (g/t) and 0.6 per cent antimony from 214.4 metres, including 1.3 metres at 23.4 g/t gold and 2.5 per cent antimony from 226 metres. Mineralisation at the project remains open at depth and along strike.
With these new results in hand, Sunday Creek now contains a total of 12 100 g/t gold equivalent intersections.
“We have discovered both high grades and wide mineralised zones indicating an increasingly robust geological gold model,” Managing Director Michael Hudson said.
“As we start laying the foundations towards a potential maiden resource at Sunday Creek our initial strategy is to extend and infill the multiple high-grade mineralised shoots.”
With the results from six holes out of 10, for 2278 metres now complete, drill core from a further four holes has been forwarded to laboratories for assays.
Geochemical assay results are anticipated to be released soon, while the company’s drill rig continues to operate.
Southern Cross Gold has ended the day five per cent in the red with shares trading at 19 cents.
