Crossroads Gold Preparing to Drill Pambula Goldfield for the First Time in 46 Years

Crossroads Gold Corp. announced on June 30, 2026, that it is preparing to commence its maiden drill program at the Pambula Gold Project in New South Wales, Australia, marking the first drilling activity in 46 years. The company has completed a comprehensive historical data compilation and geological reinterpretation, identifying significant untested potential for deeper, sulphide-hosted gold mineralization.

Key geological targets include a deep feeder-zone at 400m depth and shallower targets at 250-300m depth, with evidence of east-dipping lodes, brecciated corridors, and north-plunging high-grade shoots. Drilling is anticipated to begin within weeks, pending the final issuance of a forest permit. The company states it is fully capitalized to drill year-round.

The focus will initially be on the Pilot Fissure and parallel/linking structures, building on recent soil sampling results that returned gold grades up to 24.6 g/t Au.

Crossroads Gold Corp. (CRG) issued an update focused strictly on operational and exploration progress, providing no new financial results or guidance. The announcement serves as a direct follow-up to the June 10 soil sampling results and the June 25 geological reinterpretation, confirming that drilling was the logical next step once soil data and structural models were finalized.

The news confirms the company's capitalization status and permit timeline, aligning with prior management commentary. There are no new surprises, unexpected financial metrics, or material changes to the project's economics.

Crossroads Gold Corp. (CRG) is a Canadian pre-revenue exploration company focused on southeastern Australia, a Tier-1 mining jurisdiction. Its flagship asset is the Pambula Gold Project in New South Wales, which historically produced more than 40,000 ounces of gold at an average grade of approximately 30 grams per tonne. Only 32 historical drill holes exist at the site, with the deepest reaching 271 meters. Modern exploration has been minimal, leaving significant depth and strike potential untested.

The company also holds the Steiglitz Gold Project in Victoria, which historically produced approximately 250,800 ounces at 38 grams per tonne. Recent soil sampling has highlighted strong gold-antimony-arsenic anomalies along the Hanover Fault Zone. Additional assets include the Club Terrace and Pheasant Creek projects in Victoria, with the latter located adjacent to Southern Cross Gold's Sunday Creek discovery. Management is led by CEO Rex Motton, who brings over 40 years of Australian exploration experience, including a former role as COO of Fosterville South.