- Newly-listed Southern Cross Gold (SXG) unveils another round of “high-grade” gold hits from drilling at its Sunday Creek project in Victoria
- The results come from three drill holes completed in the Apollo area and SXG says they show lateral continuity and an expansion of known mineralisation in the area
- The company is now awaiting results from further drilling in the region designed to follow up on a previously-reported wide gold intersection at Sunday Creek
- In the meantime, Southern Cross plans to mobilise a second drill rig to the site over the next week to continue its exploration work in the Sunday Creek area
- Shares in Southern Cross Gold are down 17.5 per cent to 40 cents per share at 1:37 pm AEST
Newly-listed Southern Cross Gold (SXG) has unveiled another round of “high-grade” gold hits from drilling at its Sunday Creek project in Victoria.
The results come from three drill holes completed in the Apollo area of the project, two of which tested the edges of the Apollo shoot over a strike of 30 metres.
From these two holes, Southern Cross struck a 42-metre intersection at one gram per tonne (g/t) gold equivalent from 87 metres and a 12.4-metre intersection at 1.9 g/t gold equivalent from 160 metres.
The third hole was designed to test near-surface extensions of the Apollo area and intersected nine metres at 1.9 g/t gold equivalent from 43.8 metres.
Southern Cross Managing Director Michael Hudson said the results showed lateral continuity and an expansion of known mineralisation in the Apollo area.
“These results demonstrate continuity of both wide zones of mineralisation as well as high-grade structures at the strike extensions of the Apollo shoot,” Mr Hudson said.
He said the company was now awaiting results from further drilling in the region designed to follow up on a previously-reported wide gold intersection at Sunday Creek.
One of these follow-up holes has been completed with assay results pending, and another is still in progress.
In the meantime, Southern Cross plans to mobilise a second drill rig to the site over the next week to continue its exploration work in the Sunday Creek area.
Shares in Southern Cross Gold were down 17.5 per cent to 40 cents per share at 1:37 pm AEST.