Join our daily newsletter At The Bell to receive exclusive market insights
- Xantippe Resources (XTC) has announced its West Australian exploration team will be mobilising to the Southern Cross Gold Project this week
- Phase two work will begin shortly, consisting of 18 reverse circulation holes, for a total of 3000 metres
- This has been approved by the Western Australian Department of Mines, Industry Regulation and Safety and drilling is scheduled to begin on August 17
- The phase two program will drill below previously drilled depths at two prospects which have historically returned high-grade gold intersections
- The company aims to expand the known mineralised zones and locate new targets in prospective areas
- Xantippe has ended the day a healthy 25 per cent in the green with shares trading for 0.3 cents
Xantippe Resources (XTC) has announced its West Australian exploration team will be mobilising to the Southern Cross Gold Project this week.
The Southern Cross Project lies 380 kilometres east of Perth and is made up of 20 prospecting licences and two exploration licences for a combined area of 175 square kilometres.
Phase two work will begin shortly, consisting of 18 reverse circulation holes, for a total of 3000 metres.
This has been approved by the Western Australian Department of Mines, Industry Regulation and Safety and drilling is scheduled to begin on August 17.
This phase two program will drill below previously drilled depths at the Glendower and Xantippe prospects which have historically returned high-grade gold intersections.
Work will be undertaken with aims to expand the known mineralised zones at the Boodarding and Alpine/Roma prospects, as well as locate new targets in prospective areas.
“After extensive geophysical analysis, we will be mobilising to site and kicking off our second phase of drilling in Southern Cross this week as we seek to extend some of the high-grade targets which are will known and attracted us to the Southern Cross region,” Managing Director Richard Henning said.
“The Southern Cross project is a large project area consisting of approximately 175 square kilometres of consolidated tenure and the exploration plan will use a systematic approach to unlock a number of key targets,” he added.
Xantippe has ended the day a healthy 25 per cent in the green with shares trading for 0.3 cents each in an $8.038 million market cap.
