Southern Cross Gold Infill Drilling Lifts Golden Dyke Grades: 2.7 m @ 178.4 g/t and 6.8 m @ 49.8 g/t Gold
Vancouver, British Columbia and Melbourne, Australia--(Newsfile Corp. - October 7, 2026) - Southern Cross Gold Consolidated Ltd (TSX: SXGC) (ASX: SX2) (OTCQX: SXGCF) (FSE: MV3) ("SXGC", "SX2" or the "Company") announces results from five infill drill holes at the 100%-owned Sunday Creek Gold-Antimony Project in Victoria. Closer spaced drilling at the Golden Dyke Prospect is lifting grades, tightening the high-grade cores and adding vein sets 50 m to the west (Figures 1 to 7).
Four High Level Takeaways:
Infill drilling at Golden Dyke delivers high-grade composites, not just high-grade samples.
SDDSC225: 2.7 m @ 178.6 g/t AuEq (178.4 g/t Au, 0.1% Sb) from 662.3 m, the 13th best composite intersection at Sunday Creek to date, on the GD40 vein set with no drilling beneath it
SDDSC218: 6.8 m @ 50.1 g/t AuEq (49.8 g/t Au, 0.1% Sb) from 537.9 m, the broadest high-grade composite in this release, 380 m below surface
SDDSC221: 1.0 m @ 198.9 g/t AuEq (198.9 g/t Au, 0.0% Sb) from 680.0 m, built from adjacent assays of 334.0 g/t Au and 447.0 g/t Au
Closer spaced drilling is lifting grades and sharpening the high-grade cores, not diluting them.
Eight composite intersections in this release exceed 100 g/t Au and twelve individual assays exceed 100 g/t Au, spread across four of the five holes. The composites carry the high individual grades rather than depending on them: the 6.8 m @ 50.1 g/t AuEq in SDDSC218 includes 1,290.0 g/t Au over 0.22 m, the highest individual assay in the release, and the 1.0 m @ 198.9 g/t AuEq in SDDSC221 is made up of adjacent assays of 334.0 g/t Au and 447.0 g/t Au.
Golden Dyke keeps growing westward towards Christina, even at infill spacing.
SDDSC218 and SDDSC221 cut four vein sets not previously recognized within the current Exploration Target, pushing Golden Dyke 30 m to 50 m west towards Christina. SDDSC218 alone cut 22 vein sets. The infill holes tie directly to SDDSC171, SDDSC177, SDDSC188 and SDDSC210 on the GD80 vein set at 10 m to 30 m spacings: the continuity the geological model predicts is now drilled.
Antimony stays high alongside the gold.
SDDSC218 returned three individual assays exceeding 20% Sb in the upper part of the hole, peaking at 53.5% Sb with 20.8 g/t Au over 0.35 m from 496.30 m, within 2.2 m @ 49.0 g/t AuEq (27.7 g/t Au, 8.9% Sb) from 495.9 m. SDDSC229 returned 0.2 m @ 56.5 g/t AuEq (25.4 g/t Au, 13.0% Sb) from 495.1 m within a broader 13.2 m @ 7.9 g/t AuEq zone. The system is zoned, with antimony richest in the upper part of the tested block and gold dominant at depth.
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489.0–502.2 m
13.2 m
7.9 g/t AuEq
Intercepts extracted and reviewed by Strikepoint from the issuer’s filings. True widths may differ from downhole widths; see the full release for drill orientation.
Michael Hudson, President & CEO, states: "Infill is where a lot of high-grade systems get found out. Golden Dyke is doing the opposite. Tighter spacing has lifted grades, tightened the high-grade cores and added vein sets we had not counted, including four outside the current Exploration Target that push the prospect 50 m further west towards Christina.
"SDDSC225 returned 2.7 m @ 178.4 g/t gold, our 13th best composite at Sunday Creek, on a vein set with nothing drilled beneath it. SDDSC218 cut 22 vein sets and delivered 6.8 m @ 49.8 g/t gold, and SDDSC229 tied the vein sets together at 10 m to 30 m spacing. Eight composites over 100 g/t gold in a single infill release shows what this system does when you drill it closer. These five holes tested a continuous block roughly 300 m by 500 m, from 280 m to 750 m below surface, with antimony rich at the top and gold dominant at depth."
"Twelve rigs are turning, 72 holes are in the lab and the 200,000 m program runs through to Q1 2027. The infill is confirming the model while the step-outs keep growing it."
For Those Who Like the Details - Highlights:
SDDSC225 infilled the main Golden Dyke area, cut five vein sets and returned the best composite in this release, 2.7 m @ 178.6 g/t AuEq (178.4 g/t Au, 0.1% Sb) from 662.3 m, the 13th best composite intersection at Sunday Creek to date and the deepest hit on the GD40 vein set, with no drilling beneath it. Four individual assays exceeded 100 g/t Au, peaking at 512.0 g/t Au with 0.30% Sb over 0.85 m. Highlights include:
2.7 m @ 178.6 g/t AuEq (178.4 g/t Au, 0.1% Sb) from 662.3 m (No drilling beneath this intercept)
3.9 m @ 32.9 g/t AuEq (32.9 g/t Au, 0.0% Sb) from 793.8 m, including:
0.4 m @ 106.0 g/t AuEq (106.0 g/t Au, 0.0% Sb) from 793.8 m
0.3 m @ 335.0 g/t AuEq (335.0 g/t Au, 0.0% Sb) from 795.8 m
SDDSC218 infilled the central Golden Dyke Prospect and intersected 22 vein sets, one of them new to the Exploration Target. It returned the broadest high-grade composite in this release, 6.8 m @ 50.1 g/t AuEq (49.8 g/t Au, 0.1% Sb) from 537.9 m, about 380 m below surface, which carries the highest individual assay in the release at 1,290.0 g/t Au with 0.67% Sb over 0.22 m. The hole also returned three individual assays above 20% Sb, peaking at 53.50% Sb with 20.8 g/t Au over 0.35 m. Highlights include:
13.0 m @ 6.8 g/t AuEq (4.0 g/t Au, 1.2% Sb) from 477.8 m, including:
3.2 m @ 12.5 g/t AuEq (5.2 g/t Au, 3.0% Sb) from 485.3 m
0.1 m @ 159.9 g/t AuEq (124.0 g/t Au, 15.0% Sb) from 489.9 m
2.2 m @ 49.0 g/t AuEq (27.7 g/t Au, 8.9% Sb) from 495.9 m, including:
1.5 m @ 72.7 g/t AuEq (40.9 g/t Au, 13.3% Sb) from 495.9 m
6.8 m @ 50.1 g/t AuEq (49.8 g/t Au, 0.1% Sb) from 537.9 m, including:
0.7 m @ 64.7 g/t AuEq (64.2 g/t Au, 0.2% Sb) from 539.0 m
0.2 m @ 1,291.6 g/t AuEq (1,290.0 g/t Au, 0.7% Sb) from 541.2 m
9.7 m @ 9.5 g/t AuEq (8.1 g/t Au, 0.6% Sb) from 646.1 m, including:
0.3 m @ 220.0 g/t AuEq (219.0 g/t Au, 0.4% Sb) from 654.0 m
0.6 m @ 37.8 g/t AuEq (25.8 g/t Au, 5.0% Sb) from 735.2 m
SDDSC221 infilled the main Golden Dyke area and pushed its western side, cutting eight vein sets, three of them new to the Exploration Target and extending Golden Dyke west towards Christina. It confirmed the GD80 vein set 13 m along strike of SDDSC210 and 18 m along strike of SDDSC171, and returned 1.0 m @ 198.9 g/t AuEq from adjacent assays of 334.0 g/t Au and 447.0 g/t Au. Highlights include:
5.1 m @ 2.6 g/t AuEq (1.6 g/t Au, 0.5% Sb) from 457.0 m
2.4 m @ 8.2 g/t AuEq (3.0 g/t Au, 2.2% Sb) from 610.4 m, including:
1.8 m @ 10.4 g/t AuEq (3.8 g/t Au, 2.7% Sb) from 610.4 m
1.0 m @ 198.9 g/t AuEq (198.9 g/t Au, 0.0% Sb) from 680.0 m
SDDSC229, a shallower infill hole from the SDDSC218 collar, cut eight vein sets and returned two broad zones, 13.2 m @ 7.9 g/t AuEq and 8.6 m @ 8.2 g/t AuEq. It ties the Golden Dyke vein sets together at infill spacing: 10 m along strike of SDDSC177, 30 m up-dip of SDDSC188 and 32 m down-dip of SDDSC218 (this release). Two individual assays exceeded 100 g/t Au, peaking at 261.0 g/t Au with 0.68% Sb over 0.12 m. Highlights include:
13.2 m @ 7.9 g/t AuEq (6.8 g/t Au, 0.4% Sb) from 489.0 m, including:
2.2 m @ 15.9 g/t AuEq (14.2 g/t Au, 0.7% Sb) from 491.7 m
0.2 m @ 56.5 g/t AuEq (25.4 g/t Au, 13.0% Sb) from 495.1 m
0.1 m @ 262.6 g/t AuEq (261.0 g/t Au, 0.7% Sb) from 498.7 m
8.6 m @ 8.2 g/t AuEq (5.2 g/t Au, 1.3% Sb) from 523.1 m, including:
1.4 m @ 16.7 g/t AuEq (10.4 g/t Au, 2.6% Sb) from 523.1 m
1.3 m @ 25.1 g/t AuEq (17.3 g/t Au, 3.3% Sb) from 526.7 m
Project Totals to Date
288 drill holes for 140.8 km reported from Sunday Creek since late 2020
106 composite intersections exceeding 100 g/t Au by applying a 1 m (down hole length) @ 5 g/t AuEq lower cut
115 composite intersections exceeding 10% Sb by applying a 1 m (down hole length) @ 5 g/t AuEq lower cut
Results pending from 72 holes, including eleven holes actively being drilled and three abandoned holes, with eleven drill rigs currently operational
200,000 m drill program continuing through to Q1 2027
Drill Hole Discussion
This release reports five infill holes within the Golden Dyke prospect at Sunday Creek, all drilled east to west to cut the steeply dipping vein sets at high angles (Figures 1 and 3). These holes tested a continuous block roughly 300 m by 500 m, from 280 m to 750 m below surface.
Closer spacing has done two things. It has lifted grades and sharpened the high-grade cores within known vein sets, and it has found vein sets the model had not yet counted. SDDSC218 and SDDSC221 intersected four vein sets outside the current Exploration Target, extending Golden Dyke 30 m to 50 m west towards Christina (Figure 3). Visible gold was logged 36 times across SDDSC218, SDDSC221, SDDSC225 and SDDSC229. Twelve individual assays exceeded 100 g/t Au and three exceeded 20% Sb across the five holes (Tables 2 and 3).
Infill drilling has reduced hole spacing within the block from approximately 50 m to approximately 30 m along strike by 15 m to 20 m laterally (Figures 4 and 5). The system is zoned: antimony is richest in the upper part of the block, where grades above 1% Sb persist across a broad central zone and the highest values exceed 5% Sb, while gold is dominant at depth. Silver of up to approximately 30 g/t Ag accompanies the higher grade gold results within sulphosalts that become more prominent with depth.
SDDSC218
SDDSC218 was drilled as an infill hole through the central Golden Dyke Prospect and intersected 22 vein sets, including one not previously recognized within the current Exploration Target (refer to release dated 4 August 2026). The hole returned the broadest high-grade composite of this release, 6.8 m @ 50.1 g/t AuEq (49.8 g/t Au, 0.1% Sb) from 537.9 m, approximately 380 m below surface, which includes the highest individual gold assay in this release of:
1,290.0 g/t Au & 0.67% Sb over 0.22 m from 541.18 m
Additional individual assays >100 g/t Au include:
124.0 g/t Au & 15.00% Sb over 0.12 m from 489.92 m
186.0 g/t Au & 0.33% Sb over 0.21 m from 538.96 m
219.0 g/t Au & 0.42% Sb over 0.33 m from 653.97 m
Antimony grades are also strong in the upper part of the hole, where three individual assays exceeding 20% Sb were returned between 472 m and 497 m down hole, including:
25.60% Sb & 7.3 g/t Au over 0.10 m from 472.25 m
23.80% Sb & 32.6 g/t Au over 0.20 m from 487.00 m
53.50% Sb & 20.8 g/t Au over 0.35 m from 496.30 m
Selected composite highlights include:
3.4 m @ 7.6 g/t AuEq (5.6 g/t Au, 0.8% Sb) from 389.9 m, including:
0.8 m @ 24.6 g/t AuEq (24.5 g/t Au, 0.0% Sb) from 392.6 m
13.0 m @ 6.8 g/t AuEq (4.0 g/t Au, 1.2% Sb) from 477.8 m, including:
3.2 m @ 12.5 g/t AuEq (5.2 g/t Au, 3.0% Sb) from 485.3 m
0.1 m @ 159.9 g/t AuEq (124.0 g/t Au, 15.0% Sb) from 489.9 m
2.2 m @ 49.0 g/t AuEq (27.7 g/t Au, 8.9% Sb) from 495.9 m, including:
1.5 m @ 72.7 g/t AuEq (40.9 g/t Au, 13.3% Sb) from 495.9 m
6.0 m @ 3.0 g/t AuEq (1.5 g/t Au, 0.6% Sb) from 503.3 m
6.8 m @ 50.1 g/t AuEq (49.8 g/t Au, 0.1% Sb) from 537.9 m, including:
0.7 m @ 64.7 g/t AuEq (64.2 g/t Au, 0.2% Sb) from 539.0 m
0.2 m @ 1,291.6 g/t AuEq (1,290.0 g/t Au, 0.7% Sb) from 541.2 m
9.7 m @ 9.5 g/t AuEq (8.1 g/t Au, 0.6% Sb) from 646.1 m, including:
0.3 m @ 220.0 g/t AuEq (219.0 g/t Au, 0.4% Sb) from 654.0 m
0.6 m @ 37.8 g/t AuEq (25.8 g/t Au, 5.0% Sb) from 735.2 m
SDDSC221
SDDSC221 infilled the main Golden Dyke area and pushed its western side. The hole cut eight vein sets, three of them not previously recognized within the current Exploration Target, extending Golden Dyke west towards Christina.
SDDSC221 also confirms the continuity of the GD80 vein set (Figure 4), intersecting it 13 m along strike of SDDSC210, which returned 7.4 m @ 1.8 g/t AuEq (0.8 g/t Au, 0.4% Sb) from 486.8 m (refer to release dated 22 April 2026), and 18 m along strike of SDDSC171, which returned 2.8 m @ 13.7 g/t AuEq (9.8 g/t Au, 1.6% Sb) from 457.1 m (refer to release dated 26 August 2025).
SDDSC221 intersected two (2) individual assays exceeding 100 g/t Au:
334.0 g/t Au & 0.01% Sb over 0.11 m from 680.49 m
447.0 g/t Au & 0.01% Sb over 0.36 m from 680.60 m
Selected composite highlights include:
5.1 m @ 2.6 g/t AuEq (1.6 g/t Au, 0.5% Sb) from 457.0 m
6.0 m @ 1.6 g/t AuEq (0.8 g/t Au, 0.3% Sb) from 585.9 m
2.4 m @ 8.2 g/t AuEq (3.0 g/t Au, 2.2% Sb) from 610.4 m, including:
1.8 m @ 10.4 g/t AuEq (3.8 g/t Au, 2.7% Sb) from 610.4 m
2.2 m @ 4.7 g/t AuEq (3.2 g/t Au, 0.6% Sb) from 655.5 m
1.0 m @ 198.9 g/t AuEq (198.9 g/t Au, 0.0% Sb) from 680.0 m
SDDSC225
SDDSC225 infilled the main Golden Dyke area and cut five vein sets. It returned the best composite in this release, 2.7 m @ 178.6 g/t AuEq (178.4 g/t Au, 0.1% Sb) from 662.3 m, the 13th best composite intersection at Sunday Creek to date. It is the deepest intercept on the GD40 vein set and nothing has yet been drilled beneath it.
SDDSC225 intersected four (4) individual assays exceeding 100 g/t Au:
512.0 g/t Au & 0.30% Sb over 0.85 m from 662.27 m
160.0 g/t Au & 0.02% Sb over 0.21 m from 664.72 m
106.0 g/t Au & 0.01% Sb over 0.36 m from 793.78 m
335.0 g/t Au & 0.01% Sb over 0.25 m from 795.78 m
Selected composite highlights include:
2.7 m @ 178.6 g/t AuEq (178.4 g/t Au, 0.1% Sb) from 662.3 m
3.9 m @ 32.9 g/t AuEq (32.9 g/t Au, 0.0% Sb) from 793.8 m, including:
0.4 m @ 106.0 g/t AuEq (106.0 g/t Au, 0.0% Sb) from 793.8 m
0.3 m @ 335.0 g/t AuEq (335.0 g/t Au, 0.0% Sb) from 795.8 m
SDDSC229
SDDSC229, a shallower infill hole from the SDDSC218 collar, cut eight vein sets and returned two broad mineralized zones, 13.2 m @ 7.9 g/t AuEq (6.8 g/t Au, 0.4% Sb) from 489.0 m and 8.6 m @ 8.2 g/t AuEq (5.2 g/t Au, 1.3% Sb) from 523.1 m.
SDDSC229 demonstrates the continuity of the Golden Dyke vein sets at infill spacing (Figure 4). The hole intersected the GD80 vein set 10 m along strike of SDDSC177, which returned 8.3 m @ 8.1 g/t AuEq (5.8 g/t Au, 1.0% Sb) from 504.5 m (refer to release dated 23 October 2025), ~19 m up-dip of SDDSC188, which returned 9.4 m @ 5.2 g/t AuEq (3.6 g/t Au, 0.7% Sb) from 496.4 m (refer to release dated 6 January 2026) and 32 m down-dip of SDDSC218, which returned 6.0 m @ 3.0 g/t AuEq (1.5 g/t Au, 0.6% Sb) from 503.3 m (this release), with SDDSC229 returning 8.6 m @ 8.2 g/t AuEq (5.2 g/t Au, 1.3% Sb) from 523.1 m.
The GD82 vein set provides a further example of high-grade core continuity, SDDSC229 returned 13.2 m @ 7.9 g/t AuEq (6.8 g/t Au, 0.4% Sb) from 489.0 m, 40 m up-dip of this result SDDSC218 (this release) returned 13.0 m @ 6.8 g/t AuEq (4.0 g/t Au, 1.2% Sb) from 477.8 m, highlighting both broad zones of mineralisation with high-grade cores that had not previously been recognised with the broader spaced drilling.
SDDSC229 intersected two (2) individual assays exceeding 100 g/t Au:
189.0 g/t Au & 0.06% Sb over 0.13 m from 492.54 m
261.0 g/t Au & 0.68% Sb over 0.12 m from 498.65 m
Selected composite highlights include:
2.8 m @ 4.3 g/t AuEq (2.7 g/t Au, 0.6% Sb) from 481.0 m
13.2 m @ 7.9 g/t AuEq (6.8 g/t Au, 0.4% Sb) from 489.0 m, including:
2.2 m @ 15.9 g/t AuEq (14.2 g/t Au, 0.7% Sb) from 491.7 m
0.2 m @ 56.5 g/t AuEq (25.4 g/t Au, 13.0% Sb) from 495.1 m
0.1 m @ 262.6 g/t AuEq (261.0 g/t Au, 0.7% Sb) from 498.7 m
8.6 m @ 8.2 g/t AuEq (5.2 g/t Au, 1.3% Sb) from 523.1 m, including:
1.4 m @ 16.7 g/t AuEq (10.4 g/t Au, 2.6% Sb) from 523.1 m
1.3 m @ 25.1 g/t AuEq (17.3 g/t Au, 3.3% Sb) from 526.7 m
SDDSC236
SDDSC236 was a bounding hole on the southern side of the Golden Dyke prospective terrain and returned no significant intersections. It defines the southern margin of the mineralized system and gives structural control for follow-up targeting.
Pending Results and Update
Twelve drill rigs are operating at Sunday Creek. Results are pending from 72 holes, 49 at Sunday Creek and 24 regional, including eleven holes currently drilling and three abandoned holes (Figure 2). The Company's 200,000 m drill program continues through to Q1 2027.
About Sunday Creek
The Sunday Creek epizonal-style gold project is located 60 km north of Melbourne (Figure 7) within 16,900 hectares ("Ha") of granted exploration tenements. SXGC is also the freehold landholder of 2,296 Ha that forms the key portion in and around the main drilled area at the Sunday Creek Project.
Gold and antimony form in a relay of vein sets that cut across a steeply dipping zone of intensely altered rocks (the "host"). These vein sets are like a "Golden Ladder" structure where the main host extends between the side rails deep into the earth, with multiple cross-cutting vein sets that host the gold forming the rungs. At Apollo, Golden Dyke and Rising Sun these individual 'rungs' have been defined over a 600 m depth extent from surface to over 1,200 m below surface, are 2.5 m to 3.5 m wide (median widths), locally up to 10 m, and 20 m to 100 m in strike.
Cumulatively, 288 drill holes for 140,848.84 m have been reported from Sunday Creek since late 2020. This amount includes six holes for 1,029 m that have been drilled for geotechnical purposes and 23 holes for 3,104.12 m that were abandoned due to deviation or hole conditions. Fourteen drill holes for 2,382.74 m have been reported regionally outside of the main Sunday Creek drill area. A total of 64 historic drill holes for 5,599 m were completed from the late 1960s to 2008. The project now contains a total of one-hundred-and-six (106) composite intersections exceeding 100 g/t Au and eighty-five (85) composite intersections between 50 g/t and 100 g/t Au, and one-hundred-and-fifteen (115) composite intersections exceeding 10% Sb by applying a 1 m (down hole length) @ 5 g/t AuEq lower cut.
Southern Cross Gold's systematic drill program is strategically targeting these significant vein formations, which are currently drill defined over 1,550 m strike of the host dyke/sediment ("rails of the ladder") from Christina to Apollo prospects, of which approximately 650 m has been more intensively drill tested (Golden Dyke to Apollo). At least 126 'rungs' have been defined to date, defined by high-grade intercepts (20 g/t Au to >7,330 g/t Au) along with lower grade edges. Ongoing step-out drilling is aiming to uncover the potential extent of this mineralized system (Figure 3).
Geologically, the project is located within the Melbourne Structural Zone in the Lachlan Fold Belt. The regional host to the Sunday Creek mineralization is an interbedded turbidite sequence of siltstones and minor sandstones metamorphosed to sub-greenschist facies and folded into a set of open north-west trending folds.
Further Information
Further discussion and analysis of the Sunday Creek project is available through the interactive Vrify 3D animations, presentations and videos all available on the SXGC website. These data, along with an interview on these results with President & CEO/Managing Director Michael Hudson can be viewed at www.southerncrossgold.com.
No upper gold grade cut is applied in the averaging and intervals are reported as drill thickness. However, during future Mineral Resource studies, the requirement for assay top cutting will be assessed. The Company notes that due to rounding of assay results to one significant figure, minor variations in calculated composite grades may occur.
Figures 1 to 7 show project location, plan and longitudinal views of drill results reported here and Tables 1 to 3 provide collar and assay data. The true thickness of the mineralized intervals reported individually as estimated true widths ("ETW"), otherwise they are interpreted to be approximately 60% to 85% of the sampled thickness for other reported holes. Lower grades were cut at 1.0 g/t AuEq lower cutoff over a maximum width of 2 m with higher grades cut at 5.0 g/t AuEq lower cutoff over a maximum of 1 m width.
Critical Metal Epizonal Gold-Antimony Deposits
Sunday Creek (Figure 6) is an epizonal gold-antimony deposit formed in the late Devonian (like Fosterville, Costerfield and Redcastle), 60 million years later than mesozonal gold systems formed in Victoria (for example Ballarat and Bendigo). Epizonal deposits are a form of orogenic gold deposit classified according to their depth of formation: epizonal (<6 km), mesozonal (6 km to 12 km) and hypozonal (>12 km).
Epizonal deposits in Victoria often have associated high levels of the critical metal, antimony, and Sunday Creek is no exception. China claims a 56 per cent share of global mined supplies of antimony, according to a 2023 European Union study. Antimony features highly on the critical minerals lists of many countries including Australia, the United States of America, Canada, Japan and the European Union. Australia ranks seventh for antimony production despite all production coming from a single mine at Costerfield in Victoria, located nearby to all SXGC projects. Antimony alloys with lead and tin which results in improved properties for solders, munitions, bearings and batteries. Antimony is a prominent additive for halogen-containing flame retardants. Adequate supplies of antimony are critical to the world's energy transition, and to the high-tech industry, especially the semiconductor and defence sectors where it is a critical additive to primers in munitions.
Antimony represents approximately 15% to 17% in situ recoverable value of Sunday Creek at an AuEq of 2.39 ratio.
Southern Cross Gold Consolidated Ltd. (TSX: SXGC) (ASX: SX2) (OTCQX: SXGCF), is defining a leading gold-antimony project at the Sunday Creek Gold-Antimony Project, located 60 km north of Melbourne. Sunday Creek is a significant gold and antimony drill discovery in a Tier 1 location, with high-grade drill results including 106 composite intersections exceeding 100 g/t Au from 146.4 km of drilling (including historic drilling). The mineralization follows a "Golden Ladder" structure over 12 km of interpreted strike length, with structures drill tested from surface to 1,200 m depth.
Sunday Creek's strategic value is enhanced by its dual-metal profile. The Company has a critical mineral that the Western world needs. This has gained increased significance following China's export restrictions on antimony, a critical metal for defence and semiconductor applications. Southern Cross' inclusion in the US Defense Industrial Base Consortium (DIBC) and Australia's AUKUS-related legislative changes position it as a potential key Western antimony supplier.
Technical fundamentals further strengthen the investment case, with preliminary metallurgical work showing non-refractory mineralization suitable for conventional processing and gold recoveries of 93% to 98% through gravity and flotation.
With a strong cash position, 2,296 Ha of strategic freehold land ownership, and a large 200 km drill program planned through Q1 2027, SXGC is well-positioned to advance this globally significant gold-antimony discovery in a tier-one jurisdiction, delivering milestone by milestone.
- Ends -
For ASX Compliance: This announcement has been approved for release by the Board of Southern Cross Gold Consolidated Ltd.
Level 21, 459 Collins Street, Melbourne, VIC, 3000, Australia
NI 43-101 Technical Background and Qualified Person
Kenneth Bush, Head of Exploration for SXGC, a Member of Australian Institute of Geoscientists and a Registered Professional Geologist in the fields of Mining and Exploration (#10315), is the Qualified Person as defined by the NI 43-101. They have prepared, reviewed, verified and approved the technical contents of this release.
Analytical samples are transported to the Bendigo facility of On Site Laboratory Services ("On Site") which operates under both an ISO 9001 and NATA quality systems. Samples were prepared and analyzed for gold using the fire assay technique (PE01S method; 25 gram charge), followed by measuring the gold in solution with flame AAS equipment. Samples for multi-element analysis (BM011 and over-range methods as required) use aqua regia digestion and ICP-OES analysis. The QA/QC program of Southern Cross Gold consists of the systematic insertion of certified standards of known gold content, blanks within interpreted mineralized rock and quarter core duplicates. In addition, On Site inserts blanks and standards into the analytical process.
SXGC considers that both gold and antimony that are included in the gold equivalent calculation ("AuEq") have reasonable potential to be recovered and sold at Sunday Creek, given current geochemical understanding, historic production statistics and geologically analogous mining operations. Historically, ore from Sunday Creek was treated onsite or shipped to the Costerfield mine, located 54 km to the northwest of the project, for processing during WW1. The Costerfield mine corridor, now owned by Alkane Resources (previously Mandalay Resources) contains two million ounces of equivalent gold (Mandalay Resources Q3 2021 Results), and in 2020 was the sixth highest-grade global underground mine and a top 5 global producer of antimony.
SXGC considers that it is appropriate to adopt the same gold equivalent variables as Mandalay Resources Ltd in its 2024 End of Year Mineral Reserves and Resources Press Release, dated February 20, 2025. The gold equivalence formula used by Mandalay Resources was calculated using Costerfield's 2024 production costs, using a gold price of US$2,500 per ounce, an antimony price of US$19,000 per tonne and 2024 total year metal recoveries of 91% for gold and 92% for antimony, and is as follows:
AuEq = Au (g/t) + 2.39 × Sb (%)
Based on the latest Costerfield calculation and given the similar geological styles and historic toll treatment of Sunday Creek mineralization at Costerfield, SXGC considers that a AuEq = Au (g/t) + 2.39 × Sb (%) is appropriate to use for the initial exploration targeting of gold-antimony mineralization at Sunday Creek.
JORC Competent Person Statement
Information in this announcement that relates to new exploration results contained in this report is based on information compiled by Mr Kenneth Bush a Member of Australian Institute of Geoscientists and a Registered Professional Geologist in the fields of Mining and Exploration (#10315). Mr Bush has sufficient experience relevant to the style of mineralization and type of deposit under consideration, and to the activities undertaken, to qualify as a Competent Person as defined in the 2012 Edition of the Joint Ore Reserves Committee (JORC) Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves. Mr Bush is Head of Exploration of Southern Cross Gold Consolidated Limited and consents to the inclusion in the report of the matters based on their information in the form and context in which it appears.
Certain information in this announcement that relates to prior exploration results is extracted from the Independent Geologist's Report dated 11 December 2024 which was issued with the consent of the Competent Person, Mr Steven Tambanis. The report is included in the Company's prospectus dated 11 December 2024 and is available at www.asx.com.au under code "SX2". The Company confirms that it is not aware of any new information or data that materially affects the information related to exploration results included in the original market announcement. The Company confirms that the form and context of the Competent Persons' findings in relation to the report have not been materially modified from the original market announcement.
Certain information in this announcement also relates to prior drill hole exploration results, extracted from the following announcements, which are available to view on www.southerncrossgold.com:
The Company confirms that it is not aware of any new information or data that materially affects the information included in the original document/announcement and the Company confirms that the form and context in which the Competent Person's findings are presented have not been materially modified from the original market announcement.
Forward-Looking Statement
This news release contains forward-looking statements. Forward-looking statements involve known and unknown risks, uncertainties and assumptions and accordingly, actual results and future events could differ materially from those expressed or implied in such statements. You are hence cautioned not to place undue reliance on forward-looking statements. All statements other than statements of present or historical fact are forward-looking statements. Forward-looking statements include words or expressions such as "proposed", "will", "subject to", "near future", "in the event", "would", "expect", "prepared to" and other similar words or expressions. Factors that could cause future results or events to differ materially from current expectations expressed or implied by the forward-looking statements include general business, economic, competitive, political, social uncertainties; the state of capital markets, unforeseen events, developments, or factors causing any of the expectations, assumptions, and other factors ultimately being inaccurate or irrelevant; and other risks described in the Company's documents filed with Canadian or Australian (under code SX2) securities regulatory authorities. You can find further information with respect to these and other risks in filings made by the Company with the securities regulatory authorities in Canada or Australia (under code SX2), as applicable, and available for the Company in Canada at www.sedarplus.ca or in Australia at www.asx.com.au (under code SX2). Documents are also available at www.southerncrossgold.com The Company disclaims any obligation to update or revise these forward-looking statements, except as required by applicable law.
Figure 1: Sunday Creek plan view showing selected results from holes SDDSC218, SDDSC221, SDDSC225, SDDSC229 and SDDSC236 reported here (dark blue highlighted box, black trace), with selected prior reported drill holes.
Figure 2: Sunday Creek plan view showing selected drill hole traces from holes SDDSC218, SDDSC221, SDDSC225, SDDSC229 and SDDSC236 reported here (black trace), with prior reported drill holes (grey trace) and currently drilling and assays pending hole traces (dark blue).
Figure 3: Sunday Creek longitudinal section across A-B in the plane of the dyke breccia/altered sediment host looking towards the NW (striking 56 degrees) indicating mineralized vein sets. Showing holes SDDSC218, SDDSC221, SDDSC225, SDDSC229 and SDDSC236 reported here (dark blue highlighted box, black trace), with selected intersections and prior reported drill holes. The vertical extents of the vein sets are limited by proximity to drill hole pierce points.
Figure 6: Sunday Creek regional plan view showing soil sampling, structural framework, regional historic epizonal gold mining areas and broad regional areas. The main regional drill areas are at Tonstal, Consols and Leviathan located 4,000 m to 7,500 m along strike from the main drill area at Golden Dyke- Apollo. Map in GDA94/ MGA Zone 55.
Table 1: Drill collar summary table for recent drill holes in progress.
This Release
Hole ID
Depth (m)
Prospect
East GDA94 Z55
North GDA94 Z55
Elevation (m)
Dip
Azimuth GDA94 Z55
SDDSC218
796.99
Golden Dyke
330813.4
5867847.6
301.1
-47.9
265.0
SDDSC221
926.54
Golden Dyke
330754.1
5867733.0
307.0
-50.6
285.3
SDDSC225
992.82
Golden Dyke
330754.5
5867733.0
306.9
-52.9
284.8
SDDSC229
541.80
Golden Dyke
330813.9
5867847.7
301.2
-48.4
267.2
SDDSC236
650.10
Golden Dyke
330813.7
5867847.3
301.1
-49.5
263.8
Currently being processed and analyzed
Hole ID
Depth (m)
Prospect
East GDA94 Z55
North GDA94 Z55
Elevation (m)
Dip
Azimuth GDA94 Z55
SDDSC215
476.39
Regional
331603.6
5867183.7
304.9
-38.2
15.4
SDDSC226
826.10
Rising Sun
331276.9
5867121.1
289.1
-56.4
336.5
SDDSC226A
In Progress plan 2200 m
Rising Sun
331278.1
5867112.6
289.2
-56.8
330.4
SDDSC226W1
603.90
Rising Sun
331276.9
5867121.1
289.1
-56.4
336.5
SDDSC237
359.00
Golden Dyke
330700.4
5867880.1
299.7
-43.2
245.7
SDDSC237W1
510.47
Golden Dyke
330700.4
5867880.1
299.7
-43.2
299.7
SDDSC238
810.80
Christina
329778.6
5867552.7
286.5
-32.0
69.2
SDDSC239
915.63
Golden Dyke
330753.1
5867731.5
306.9
-31.0
270.2
SDDSC240
1171.50
Rising Sun
330354.1
5867861.2
277.2
-58.7
73.9
SDDSC240W1
594.00
Rising Sun
330354.1
5867861.2
277.2
-58.7
73.9
SDDSC241
418.60
Golden Dyke
330700.9
5867879.7
299.8
-39.1
243.5
SDDSC242A
370.67
Golden Dyke
330813.4
5867846.9
301.1
-45.8
267.4
SDDSC242AW1
601.73
Golden Dyke
330813.4
5867846.9
301.1
-45.8
267.4
SDDSC243
1038.00
Apollo
331615.8
5867951.1
347.0
-59.5
269.0
SDDSC244
1098.00
Golden Dyke
330973.3
5867847.7
296.7
-49.5
275.8
SDDSC245
548.80
Regional
331533.7
5867845.3
341.2
-40.7
156.1
SDDSC246
760.20
Golden Dyke
330753.7
5867731.8
306.7
-39.5
274.6
SDDSC247
193.60
Golden Dyke
330772.2
5867889.6
295.7
-32.3
248.5
SDDSC248
572.50
Apollo
331291.3
5867825.7
316.4
-40.9
269.8
SDDSC249
191.09
Golden Dyke
330772.7
5867889.6
295.7
-36.7
245.9
SDDSC250
199.81
Rising Sun
330772.4
5867889.9
295.7
-36.9
252.3
SDDSC251
120.40
Apollo
331532.6
5867847.5
340.9
-31.9
270.4
SDDSC251A
306.70
Apollo
331532.8
5867847.9
340.9
-31.7
273.7
SDDSC252
200.00
Golden Dyke
330772.7
5867889.9
295.7
-40.0
249.9
SDDSC253
349.40
Apollo
331595.8
5867936.9
345.6
-53.8
267.8
SDDSC253W1
1042.70
Apollo
331595.8
5867936.9
345.6
-53.8
267.8
SDDSC254
In Progress plan 890 m
Christina
329777.2
5867552.7
286.5
-52.1
61.9
SDDSC255
551.00
Golden Dyke
330773.0
5867890.0
295.6
-41.4
251.2
SDDSC256
445.37
Golden Dyke
330772.2
5867889.4
295.7
-31.0
245.3
SDDSC257
304.74
Golden Dyke
330813.1
5867847.3
301.1
-43.1
263.8
SDDSC257W1
634.50
Golden Dyke
330813.1
5867847.3
301.1
-43.1
263.8
SDDSC258
1036.67
Golden Dyke
330973.3
5867847.7
296.7
-32.5
265.0
SDDSC259
781.66
Golden Dyke
330754.0
5867731.7
306.7
-43.6
274.0
SDDSC259W1
1201.20
Golden Dyke
330754.0
5867731.7
306.7
-43.6
274.0
SDDSC260
1028.50
Rising Sun
330339.6
5867859.2
276.9
-69.6
64.3
SDDSC261
1021.30
Apollo
331615.0
5867950.8
346.9
-45.5
266.3
SDDSC262
924.20
Apollo
331596.4
5867937.0
345.4
-55.5
266.5
SDDSC263
In Progress plan 1230 m
Apollo
330761.8
5867730.2
307.3
-52.9
66.3
SDDSC264
230.30
Golden Dyke
330813.5
5867847.8
301.3
-50.8
259.6
SDDSC264A
In Progress plan 710 m
Golden Dyke
330813.5
5867847.8
301.3
-53.7
267.1
SDDSC265
760.43
Apollo
331615.5
5867951.0
346.7
-55.6
270.4
SDDSC265W1
436.50
Apollo
331615.0
5867951.0
346.0
-61.3
264.1
SDDSC266
In Progress plan 600 m
Apollo
331525.0
5867844.0
339.9
-50.9
280.6
SDDSC267
In Progress plan 1450 m
Rising Sun
330353.9
5867861.1
277.1
-63.6
76.4
SDDSC269
In Progress plan 1400 m
Rising Sun
330339.6
5867859.2
276.9
-66.0
75.1
SDDSC270
In Progress plan 1100 m
Apollo
331615.5
5867951.7
346.8
-51.3
267.8
SDDSC271
In Progress plan 1200 m
Golden Dyke
330973.3
5867847.7
296.7
-55.0
275.8
Regional holes currently being processed and analyzed
Hole ID
Depth (m)
Prospect
East GDA94 Z55
North GDA94 Z55
Elevation (m)
Dip
Azimuth GDA94 Z55
SDDTS009
506.00
Tonstall
336984.3
5870557.1
524.7
-28.3
285.0
SDDTS008
511.37
Tonstall
336992.9
5870558.4
524.0
-35.0
29.0
SDDTS010
535.79
Tonstall
336993.7
5870557.9
524.1
-37.0
44.4
SDDTS011
401.32
Tonstall
336992.1
5870557.3
524.1
-43.0
18.0
SDDCN002
259.88
Consols
336036.0
5870692.7
484.1
-37.0
241.0
SDDLV005A
419.10
Leviathan
334566.1
5870167.8
554.3
-31.0
206.0
SDDLV006
752.80
Leviathan
334569.4
5870170.0
554.4
-47.0
152.0
SDDCN003
323.06
Consols
336041.3
5870692.1
484.4
-36.0
130.0
SDDCN005A
229.30
Consols
336034.9
5870693.5
484.0
-30.0
256.5
SDDCN004
271.30
Consols
336036.5
5870693.7
484.1
-49.0
258.0
SDDLV007
395.10
Leviathan
334570.1
5870169.2
554.4
-29.1
110.2
SDDCN006
179.80
Consols
336038.4
5870692.3
484.3
-77.9
180.0
SDDLV008
302.93
Leviathan
334101.2
5870007.2
544.1
-60.0
99.0
SDDTS012
590.54
Tonstall
336992.0
5870558.0
524.0
-48.5
8.2
SDDCN007
152.40
Consols
336041.4
5870693.0
484.4
-50.0
114.8
SDDTS015
460.00
Leviathan
337693.0
5870860.0
523.0
0.0
0.0
SDDTS014
200.00
Tonstall
337693.0
5870860.0
523.0
-45.0
180.0
SDDLV010
802.40
Leviathan
334495.0
5869985.0
553.0
0.0
0.0
SDDTS013
329.04
Tonstall
337693.0
5870860.0
523.0
-38.0
248.0
SDDLV009
335.03
Leviathan
334089.0
5870005.0
544.0
-33.0
233.0
SDDAM001
In Progress plan 700 m
Aftermath
335952.0
5871577.0
436.0
-35.0
66.0
SDDLV011
In Progress plan 450 m
Leviathan
334805.0
5870245.0
545.0
-69.0
80.0
Abandoned drill holes currently being processed and analyzed
Hole ID
Depth (m)
Prospect
East GDA94 Z55
North GDA94 Z55
Elevation (m)
Dip
Azimuth GDA94 Z55
SDDCN005
34.69
Consols
336034.9
5870693.5
484.0
-30.0
256.5
SDDLV005
32.40
Leviathan
334566.1
5870167.8
554.3
-33.4
206.0
SDDSC242
20.65
Golden Dyke
330813.6
5867847.0
301.0
-45.8
267.2
Table 2: Table of mineralized drill hole intersections reported from SDDSC218, SDDSC221, SDDSC225, SDDSC229 and SDDSC236 with two cutoff criteria. Lower grades cut at 1.0 g/t AuEq lower cutoff over a maximum of 2 m with higher grades cut at 5.0 g/t AuEq cutoff over a maximum of 1 m. Significant intersections and interval depths are rounded to one decimal place.
