Southern Cross Gold extends Sunday Creek mineralisation at depth

Southern Cross Gold (ASX: SXG) has extended the known high-grade mineralisation to 840m in a drill hole completed at its Sunday Creek gold-antimony project in Victoria.

Initial assays from hole SDDSC050 were reported last month, which returned a 305.8m intercept grading 2.4 grams per tonne gold equivalent (1.6g/t gold and 0.5% antimony) from 319.2m.

Assays have now been received for the section extending from 651m to 923.7m deep.

This lower section had intercepted four separate and new mineralised zones between 651m and 840m, and returned a peak assay of 95.6g/t gold.

Highlight intersections were 0.3m at 54.6g/t gold equivalent (54.6g/t gold and 0.1% antimony) from 667.1m; 9m at 7.3g/t gold equivalent from 712m, including 1.5m at 41.5g/t gold equivalent from 713m; and 4.9m at 8.8g/t gold equivalent from 835.1m, including 1.8m at 22.8g/t gold equivalent from 837.2m.

Improving at depth

Southern Cross managing director Michael Hudson said SDDSC050 was a “breakthrough” hole for the company, with a total of 13 vein sets and an 861g/t gold equivalent by metre cumulative intersection from 319.2-840m.

Mr Hudson pointed out that the gold-antimony mineralisation in SDDSC050 had transitioned to gold only zones at depth, which is typical of Victorian epizonal deposits.

“With wide quartz carbonate gold-bearing veins now being found with gold, but no antimony, we have already undertaken targeted follow up drilling and look forward to further drill results coming from depth, across what we consider a globally significant gold discovery.”

“Of considerable interest is the discovery of the multiple high-grade intersections, that at the depths discovered, could potentially form many underground mining areas,” Mr Hudson added.

Drilling continues

Drilling is continuing at the project with three rigs turning at the Golden Dyke, Rising Sun and Apollo prospects.

Nine holes are being processed and analysed with a further three in progress.

The company is well-positioned to continue its aggressive exploration at Sunday Creek after raising $16 million late last month.