Southern Cross Gold Unveils High-Grade Gold Intercepts at Sunday Creek, Shares Jump

2 min read | November 28, 2024 03:46 PM AEDT | By Team Kalkine Media

Southern Cross Gold Unveils High-Grade Gold Intercepts at Sunday Creek, Shares Jump — Image source: shutterstock

Record-Breaking Drill Findings

The recent drill hole identified mineralization up to 550 meters vertically below surface historic mine workings. Within this, there are nine zones where gold grades exceed 20 g/t, with peak values reaching an extraordinary 196 g/t. Additionally, five intercepts recorded antimony grades exceeding 2%, including a top grade of 4.1%.

Managing Director Michael Hudson emphasized the strategic importance of these findings, which highlight Sunday Creek's potential as a globally significant gold project.

“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 said. “The consistency and grade of mineralization 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.”

Broader Implications

The discovery underlines Sunday Creek’s growing potential, located just an hour from Melbourne, and suggests the project could become a major contributor to the global gold market. Extending known mineralization significantly deeper than previous explorations provides a pathway for further resource expansion.

Market Impact

Investors reacted positively to the announcement, with Southern Cross Gold’s shares rising sharply. At 12:52 AEDT, SXG shares were trading at $3.02, reflecting a 7.09% increase since the market opened.

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