Southern Cross Gold Ltd (SXG) is a Victorian gold and antimony exploration company that listed on the ASX on 16 May 2022. It is focussed on the search for epizonal gold mineralisation that already confirms incredibly high grade and profitable gold mining operations (note Fosterville and Costerfield being adjacent examples).
The company controls three of the nine historic epizonal high-grade goldfields in the Melbourne Zone of central Victoria within 471 sq km of granted tenements in the heart of a new Fosterville-style high-grade search space. It owns 132.64 hectares of freehold land in and around the current drill area at our 100% owned flagship Sunday Creek project. Through a strategic 10% ownership of ASX listed Nagambie Resources Ltd, SXG owns a right of first refusal over an additional 3,300 sq km tenement package also in the Melbourne Zone.
Exploration success
As at 28 February, 2023 SXG had reported 55 drillholes for 16,127 metres drilled at its 100% owned Sunday Creek project in less than three years. The project has already demonstrated its potential to be a truly significant exploration discovery in Victoria with twenty one (21) >100 cumulative grade x metres (“AuEq g/t x m”) holes now intersected on the property.
Headline results from the Sunday Creek property across the 800 m strike tested to date down to 800 m vertical depth include 520.8 m @ 1.7 g/t Au Eq from drill hole SDDSC050, 48.9 m @ 3.0 g/t AuEq from SDDSC049 and 21.5 m @ 15.0 g/t AuEq from SDDSC046. Mineralisation remains open at depth and along strike.
2023 drill campaign
The drilling area at Sunday Creek has tested <10% of the 11km long mineralised trend at the property, where over 10km of historic workings of similar scale have never been drill tested.
SXG is fully funded and permitted and has a 30,000 m drill campaign for 2023 at Sunday Creek. Its aims are to extensively grow the size of mineralisation both along strike and to depth similar to its successful drillhole SDDSC050, which discovered 13 previously unknown vein sets for a cumulative intersection of 861 g/t AuEq x m from 319.2 m down to 840.0 m.
Joint Venture properties
The two other Victorian epizonal gold projects, Redcastle and Whroo, both offer exploration upside, again, underneath multiple kilometres of historic workings where tens of thousands of ounces were produced in the 19th century at grades exceeding ounces per tonne.
The Redcastle project (70% SXG) abuts directly to the north Mandalay Resource’s Costerfield tenement and lies on the same 2Moz mineralised corridor as the Costerfield mine, the world’s 7th highest grade gold mine and the 5th largest producer of antimony, a critical metal that also forms a significant, critical and strategic potential by-product for SXG. Redcastle has over 17km of mineralised veins but the deepest drill hole previously reached only 80m down.
SXG’s northern most Victorian project is Whroo where it is currently earning up to 70% from its JV partner, ASX listed Nagambie Resources. Whroo has a 14km mineralised trend stretching east to west that offers huge exploration potential. SXG’s first hole beneath the historic Balaclava open pit mine hit 0.6m @ 49.7g/t Au, the best intercept at the property since mining ceased there 167 years ago.
Southern Cross Gold Ltd
Level 21
459 Collins Street
Melbourne Vic 3000
Australia