Our flagship project, the 100%-owned Sunday Creek epizonal-style gold project, is located 60 km north of Melbourne within 19,365 ha of granted exploration tenements. SXG is also the freehold landholder of 133.29 ha that form the key portion in and around the main drill area.
Sunday Creek is considered to be one of the best new high grade and large exploration discoveries to come out of Australia in recent times. Mineralisation has been drilled over 1,000 m along strike and remains open beyond 1,000 m depth along a 11,000 m mineralised corridor. Hit rates are globally leading with 31 individual intersections exceeding 50 AuEq g/t x m (“AuEq g/t x width in m”) and 15 individual intersections exceeding 100 AuEq g/t x m with less than 30,000 m drilled to date by SXG. The project also contains the significant critical metal potential by product of antimony.
We are fully permitted and funded and currently have four diamond drill rigs operating with a continuous flow of significant news to the market.
To find out the latest details of our latest activities please refer to our ASX announcements and presentations.
Our corporate objectives are to discover and develop large, long-life, sustainable assets which create value for shareholders and all stakeholders in the community.
Southern Cross Gold Ltd owns three subsidiaries which are:
- Clonbinane Goldfield Pty Ltd which holds the tenements forming the Sunday Creek Project and has subsequently entered into an agreement to acquire freehold land on a portion of that project.
- Mawson Victoria Pty Ltd which holds the rights and interests under Option Agreements with Nagambie Resources Limited (ASX:NAG) to:
- 70% of the Redcastle Project; and
- Up to 70% of the Whroo Project. 25% can be earnt by incurring $500,000 expenditure and paying Nagambie $50,000, a further 35% can be earnt by incurring a further $1,600,000 expenditure and paying Nagambie $100,000 ($50,000 in two separate years) and, subject to an election to form a joint venture, a further 10% by incurring an addition $1,500,000 expenditure.
- Mawson Queensland Pty Ltd which holds the tenements forming the Mt. Isa Project.
Southern Cross Gold corporate structure: