It’s been one year since Southern Cross’s IPO and it seems cause for celebration following the release of some dazzling drill results from its wholly-owned Sunday Creek gold project.

The gold explorer has given institutional and retail investors alike an excuse to also pop the bubbly, with a nearly 3x ROI since listing on the ASX and $18m cash on hand for further exploration work.

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Four drill rigs are working continuously at the main drill area nearly 7.5km along strike, with 16 new drill holes in the hands of the geologists for processing and analysis.

The star of the show, drill hole SDDSC064, intersected five high-grade veins with visible gold including 1.2m @ 121.8 grams per tonne (g/t) gold.

Southern Cross Gold (ASX:SXG) boss Michael Hudson said SDDSC064 showed 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,” Hudson said.

“At Sunday Creek, and as is typical for epizonal deposits, visible gold becomes increasingly significant at depth.”

Extended mineralisation

The hole importantly extended mineralisation to depth, being a 115m down-dip extension from SDDSC061 which showed 12m @ 7.4g/t AuEq, including 0.3m @ 249.5g/t AuEq in March – a sign of an increased frequency of high-grade mineralised vein sets.

“Further, it has defined continuity and increased strike length (up to 60 m) of individual veins and defined a broad mineralised halo intersecting 212.8m @ 1.0g/t gold around high-grade mineralisation,” Hudson added.

“You can expect our technical team to continue to take logical progressions as we continue to define scale and demonstrate continuity of mineralised zones.”

SXG said news flow from Sunday Creek to be continuous in the near future, with three additional holes currently being drilled and 16 holes in the laboratory at the time of writing.

All up, that’s a nice way to round out Southern Cross’ first year.

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

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

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