Southern Cross Gold uncovers wide and high-grade gold zones at Sunday Creek

Newly listed Southern Cross Gold (ASX: SXG) has revealed high-grade and wide zones of gold and antimony mineralisation in assays returned from recent drilling at its Sunday Creek gold project in Victoria.

The gold explorer today announced the results from six diamond drill holes, which returned multiple intersections grading over 15 grams per tonne of gold, including peak grades of 81.2g/t and 3.4% antimony (over 0.3m).

Highlight intercepts included 17.3m grading 3.9g/t gold and 0.6% antimony from a depth of 214.4m, including 1.3m at 23.4g/t gold and 2.5% antimony from 226m; and 9.8m at 3.9g/t gold and 0.5% antimony from 55.5m, including 1.5m at 23.1g/t gold and 2.5% antimony from 60.3m.

Other significant intercepts graded 66.8g/t gold over 0.3m and 18g/t gold and 6.6% antimony over 0.4m. Mineralisation remains open at depth and along strike.

With these new results, Sunday Creek now contains a total of 12 100g/t gold equivalent per metre intersections.

A total of 10 holes for 2,278m were recently completed at Sunday Creek. Core from the other four holes have been sent to the laboratory with assays anticipated “in an orderly fashion as they are received”. The drilling rig continues to operate.

On the path to a maiden resource

Southern Cross Gold managing director Michael Hudson called the latest results “another leap forward for the renaissance of the Victorian goldfields”.

“We have discovered both high grades and wide mineralised zones indicating an increasingly robust geological gold model.”

“As we start laying the foundations towards a potential maiden resource at Sunday Creek our initial strategy is to extend and infill the multiple high-grade mineralised shoots,” Mr Hudson said.

He added that there have been indications of a parallel zone of gold mineralisation located 250m north of the main mineralised area.

“This creates further opportunity to delineate undercover and parallel zones of mineralisation across the more than 10km of strike, outside of the current drill area, where historic mines with no drill testing have been mapped across the Sunday Creek property.”

ASX listing

Southern Cross Gold listed on the ASX last week after raising $9.1 million through its initial public offering.

The Australia-focused company was spun out from Canada-listed Mawson Gold (TSX: MAW) last year after Mawson decided to prioritise its Rajapalot gold-cobalt project in Finland.

Funds from the IPO have been allocated to ongoing exploration at its Queensland and Victorian projects and to acquire 300 acres of freehold land forming a key portion of the drilled area at its flagship Sunday Creek asset, located 60km north of Melbourne.