The high-grade hits keep a-comin’ for Southern Cross Gold at Sunday Creek
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Southern Cross Gold has kept its pre-IPO promise of delivering results quickly after listing, with more multiple high-grade gold and antimony assays returned from drilling at Sunday Creek.
Notable intersections are 1.3m grading 23.4g/t gold and 2.5% antimony from a down-hole depth of 226m within a broader 17.3m zone at 3.9g/t gold and 0.6% antimony from 214.4m (SDDSC031) and 1.5m grading 23.1g/t gold and 2.5% antimony from 60.3m within a broader 9.8m zone at 3.9g/t gold and 0.5% antimony from 55.5m (SDDSC032).
More importantly, Southern Cross Gold (ASX:SXG) has now has 12 intercepts showing 100 gram metre (gold equivalent g/t x m), lending further weight to its belief that Sunday Creek is one of the better exploration discoveries to come out of Victoria in recent times.
Gram metre intercepts, which multiply the grade by the width of the intercept, are a commonly used method of assessing discoveries with at least one major gold company considering three (3) 100 gram metre intercepts in any one coherent body to be a significant discovery.
To have 12 such intercepts within a discovery that remains open at depth and along strike is certainly encouraging for the company.
That exploration drilling has yet to touch on a 10km mineralised trend beyond the current drilled area that is defined by historical workings and soil sampling just adds further to the excitement levels.
Drilling highlighted this potential by intersecting gold at a parallel trend defined by soil samples 250m north of the main mineralised area at Sunday Creek.
“Another great drill result for Southern Cross Gold, with an additional 100 g/t AuEq x m intersection at Sunday Creek, this time from drill hole SDDSC031 intersecting a broader intersection of 36m at 2.9 g/t AuEq, and is another leap forward for the renaissance of the Victorian Goldfields,” managing director Michael Hudson says.
“Our understanding on the controls on gold mineralisation at Sunday Creek continue to increase and this is reflected in the success of the latest batch of results from drilling undertaken during the IPO process which follow over 8,000m drilled at the project over the last 18 months.
“We have discovered both high grades and wide mineralised zones indicating an increasingly robust geological gold model.”
Hudson adds that the discovery of the parallel zone created further opportunity to delineate undercover and parallel zones of mineralisation across the more than 10km of strike, outside of the current drill area.
Southern Cross is currently waiting on assays from a further four holes that it has submitted to the laboratory which were drilled during the IPO.
Drilling is also continuing across the project as the company seeks to lay the foundations for an initial resource estimate by extending and infilling the multiple high-grade mineralised shoots.
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.