Southern Cross Gold halts in relation to material exploration results at Sunday Creek
Link copied to
Southern Cross Gold (ASX:SXG) went into a trading halt today pending an announcement by the company to the market in relation to material exploration results at the company’s 100% owned Sunday Creek project in Victoria.
The company stated in their last drill release on 20 September that they had seven holes and 1,888 m drilled being processed and analysed, with two holes in progress at that time, drilled within a 700 m strike spanning the Apollo, Rising Sun and Golden Dyke prospects at Sunday Creek.
SXG has two drill rigs, with three drill shifts, continuously operating on the project.
Drilling at their highly prospective Apollo prospect is testing the deeper extensions of the multiple shoots (up to six) that exist within a 250 m strike. Apollo is the location where they hit the spectacular 119.2m @ 3.9g/t AuEq in May this year from drill hole SDDSC033 and then followed up with 42.0 m @ 4.8g/t AuEq in drill hole SDDSC039, located 30 m below SDDSC033.
Drilling at Rising Sun is following up on the drill hole MDDSC021 which intersected 21.7 m @ 6.2 g/t AuEq including 0.4 m @ 177.1 g/t AuEq and 260 m vertically below shallow historic workings that extended to 45 m below surface.
Drilling at Golden Dyke is testing under the most productive historic mine on the 10 km strike trend at Sunday Creek for the first time.
MD Michael Hudson has stated that since listing in May the company has drilled 22 holes for 5,802 m and that Sunday Creek has already delivered 16 >100 cumulative grade x metres (“AuEq g/t x m”) intersected, and impressive strike rate.
All eyes will be on the release with trading to resume at the earlier of when the company releases to the market or before the market opens on Wednesday, 5 October.
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.