Southern Cross Gold has announced results from six further drill holes at its Sunday Creek project in Victoria, with highlights of 12m at 7.4g/t gold equivalent (AuEq) from 688m including 0.3m at a monster grade of 249.5g/t gold in drill hole SDDSC061.

Notably, this drill hole was a large 270m vertical step out to depth below the Rising Sun Shoot and contained abundant visible gold. Assays are still pending on deeper parts of this drill hole.

Drilling of a near surface gap (SDDSC056) between Apollo and Gladys intersected:

  • 1m at 11.7g/t AuEq (0.1g/t Au, 7.4% Sb) from 77m;
  • 6m at 1.5g/t AuEq (1g/t Au, 0.3% Sb) from 132m; and
  • 4m at 3.8g/t AuEq (3.5g/t Au, 0.2% Sb) from 172.6m.

In addition, the first near-surface mineralisation has been drilled 200m east of the Apollo prospect (SDDSC063) and intersected 0.5m at 17.2g/t AuEq (12.2g/t Au, 3.2% Sb) from 26.2m down hole depth.

Detail of visible gold adjacent to arsenopyrite from SDDSC061 at 691.2m. Field of view 0.5cm. Image: Supplied

Footprint extending along strike and to depth

Southern Cross Gold (ASX:SXG) MD Michael Hudson said the strong results are validation of a transitioning system and were the type of high grade result the company had been looking for in its deep drilling.

“The development of free gold, with the concurrent reduction of antimony grades is important in this transitioning system and is similar to what is observed in similar epizonal deposits that have been tested to depth including Fosterville and Costerfield,” he said.

“Our footprint of high-grade mineralisation just keeps extending both along strike and to depth with the distance between SDDSC063 and SDDSC061 being 935m, with mineralisation now extending in the main drill area over 1,350m.

Given the vertical trajectory of hole SDDSC061, the company believes it had not progressed through the main mineralised host dyke breccia structure, but stayed in the hanging wall to the north of it and so they will wedge off the main hole in the future to drill through the structure at around a depth of between 500-600m

“Meanwhile, four rigs continue to drill both in the main drill area and up to 7.5km along strike at the Tonstal prospect,” explains Hudson.

The company says assays from nine holes are pending, which include the deepest holes drilled at Rising sun and Apollo and is fully funded to continue its 30,000m drill campaign for 2023.

This article was developed in collaboration with Southern Cross Gold, a Stockhead advertiser at the time of publishing.

This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.

Read MoreGold

Featured Companies

You might be interested in