Southern Cross Gold Ltd (ASX:SXG) Announces Significant Gold Discovery
Major Discovery at Golden Dyke
Southern Cross Gold Ltd (ASX:SXG) has reported a significant drilling discovery at its 100%-owned Sunday Creek Gold-Antimony Project. Recent results include an impressive interception of 5.5 metres at 25.4 g/t gold from the Golden Dyke prospect, which supports the project’s growth potential at depth.
Drill hole SDDSC141 extended known mineralization a remarkable 200 metres deeper than previous drilling, revealing multiple high-grade gold and antimony zones. Notably, a high-grade zone of 1.4 metres was recorded at 101.1 g/t gold.
Exploration and Future Plans
The company is actively advancing its exploration efforts with five drill rigs currently examining the site, and a sixth expected to arrive in December 2024. Over the next year, Southern Cross Gold plans to complete 60 km of drilling, with particular focus on delineating the full extent of the deposit’s mineral system.
Managing Director Michael Hudson commented, “These results from Golden Dyke continue to validate our conviction that Sunday Creek represents one of the most significant global gold discoveries in recent years.” He added, “We believe we’re still in the early stages of revealing Sunday Creek’s true scale.”
Market Relevance of Antimony
The project’s antimony content, which constitutes approximately 20% of the in-situ recoverable value, positions it as a critical player in the growing demand for this metal. Given recent Chinese export restrictions, there is increasing global attention on Western supply chains, making Sunday Creek a strategic asset for investors.
Motley Fool contributor Lianne Eastty has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.
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