Drill Results
Southern Cross Gold Drills 1.6 Metres @ 55.3 g/t Gold and 1.9% Antimony
Southern Cross Gold Drills High-Grade Infill at Sunday Creek as Rig Count Expands
Executive Summary
- Southern Cross Gold announced high-grade gold and antimony results from six drill holes at the Golden Dyke prospect within the Sunday Creek project.
- Key intercepts include 1.6 m @ 59.8 g/t AuEq (55.3 g/t Au, 1.9% Sb) and intervals exceeding 100 g/t Au with substantial antimony credits up to 12.3% Sb.
- Drilling has demonstrated expansion of the deposit boundaries and predictability through infill drilling.
- Operational capacity increased by adding an eleventh drill rig; total program is 200,000 m continuing through Q1 2027.
- 46 holes are currently pending results from the ongoing campaign.
Material Impact
- The news confirms existing high-grade mineralization models rather than introducing a new discovery or resource estimate update.
- Given the significant price appreciation from $4.60 to over $11.00 in the past year, much of this grade potential is already priced into the equity.
- Insider buying (April 2026) and completed financing (C$143M raised May 2025) have de-risked capital needs, making drilling results incremental rather than existential.
- The addition of an eleventh rig signals continued commitment to the Q1 2027 resource target but does not alter the fundamental timeline materially.
- Classification as Routine - Positive reflects that while grades are excellent, they align with historical expectations for Sunday Creek and do not warrant a major re-rating at current valuation levels.
SXGC · Price
Company Overview
- Southern Cross Gold Consolidated Ltd is a Canadian-Australian mining company focused on the Sunday Creek Gold-Antimony Project in Victoria, Australia.
- Flagship Project: Sunday Creek features high-grade gold and antimony mineralization with over 12 km strike length and continuity to 1,100 m depth.
- Antimony is classified as a critical mineral for defense and energy storage, adding strategic value beyond gold alone.
- Metallurgical testing shows high recoveries (93-98% gold, 83-93% antimony) with low arsenic concentrates suitable for smelters.
- Project status: Transitioning from exploration to development with underground decline approval received in November 2025.
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Jul 15, 2026 · 06:01