Southern Cross Gold hits deepest gold yet on its one-year anniversary

One year to the day since it listed in Australia, Victoria explorer Southern Cross Gold (ASX: SXG) has reported the deepest mineralisation so far at its Sunday Creek gold-antimony project.

At a depth of 889.6m down hole, drilling of Hole .64 intersected 1.2m at 121.8 grams per tonne gold.

SDDSC064 is a 115m down-dip extension from another hole, SDDSC061, which also returned 12m at 7.4g/t gold including 0.3m at 249.5 g/t gold.

Scale of mineralised system continues to grow

Managing director Michael Hudson said SDDSC064 intersected five highest-grade veins with visible gold.

“This is the deepest mineralisation and one of the two highest grade results drilled to date at Sunday Creek.”

“The scale of the mineralised system continues to grow and deliver significant results at a globally leading hit rate,” Mr Hudson added.

Four rigs at work

Southern Cross Gold says of major importance with this latest drilling result is the abundance of visible gold becoming increasingly significant at depth.

With four rigs working the main drill area at Sunday Creek, and up to 7.5km along strike, plus with analysis under way on another 16 hole samples, the company says its news flow will be continuous.

The Australian company is aiming to become the first locally owned producer here of antimony (in addition to the gold).

During World War I ore containing antimony from Sunday Creek was transported the 54km to Costerfield for processing.

Antimony uses

Antimony is considered by the US Department of Defence to be a critical metal as it is needed to produce everything from armour-piercing bullets and explosives to nuclear weapons as well as sundry other military equipment, such as night vision goggles.

It is also used in flame retard products, semiconductors and batteries.

Southern Cross Gold is aiming to become a locally owned producer of antimony, in addition to the gold.

China now dominates antimony supply, producing 145,000 tonnes per annum. The second largest producer is Canada, with 7,000tpa.