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Highlights
- Southern Cross Gold discovers nine new high-grade zones at Golden Dyke.
- Drilling intercepts gold grades exceeding 100 g/t, extending mineralisation depth.
- Results highlight significant exploration progress at Sunday Creek project.
Southern Cross Gold ( ASX:SXG) has unveiled an impressive discovery of nine new high-grade gold zones at the Sunday Creek gold-antimony project near the historic Golden Dyke mine in Victoria. The latest drilling results highlight significant mineralisation, with one standout intercept grading over 25 grams per tonne (g/t) of gold, including a 1.4-metre section yielding an extraordinary 101.1 g/t.
The drilling campaign has extended the known mineralisation at Golden Dyke by up to 200 metres deeper than previously identified zones. This marks a substantial advancement in the understanding of the site’s potential, with mineralisation now confirmed to extend to 550 metres vertically below historic mine workings.
Key findings from the drill hole include nine distinct zones grading above 20 g/t of gold, with peak values reaching 196 g/t. Additionally, five intercepts revealed antimony grades exceeding 2%, with the highest grade recorded at 4.1%. These results indicate the continuation of high-grade vein sets at greater depths, underscoring the resource’s extensive potential.
Expanding Exploration at Sunday Creek
The Sunday Creek project is located just an hour’s drive from Melbourne, positioning it as an accessible and strategically valuable site. The high consistency and grades observed in deeper mineralisation zones align with, and in some cases surpass, results found closer to the surface. This reinforces the project's potential as one of the most significant gold discoveries in recent years.
Southern Cross Gold’s managing director noted the breakthrough at Golden Dyke as a strong validation of the project’s potential. These findings extend beyond the January 2024 exploration target area, paving the way for further development.
Market Reaction
Following the announcement, shares of Southern Cross Gold (SXG) experienced notable growth, reflecting market optimism about the project’s advancement. The stock rose over 7% to $3.02 during midday trading, highlighting investor confidence in the discovery’s value.
The ongoing exploration at Golden Dyke signals a promising future for Southern Cross Gold (SXG) as it continues to unlock the potential of its Sunday Creek project. The results provide a compelling narrative for the continuation of exploration and resource evaluation in this highly prospective region.
