Gold Stock Southern Cross Gold Consolidated (TSX: SXGC) Makes TSX Top Gainer List On Drilling News
The stock makes the TSX top gainer list on news as investors continue to come back to the sector. The stock is trading at 12.93 +0.74 (+6.08%) as of this report.
Southern Cross Gold announced results from five drill holes at the 100%-owned Sunday Creek Gold-Antimony Project in Victoria, comprising the deepest west-to-east drill holes under Rising Sun (Figures 1 to 6). Four deep holes, including one wedge (SDDSC230W1), tested Rising Sun at depth.
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Deepest drilling beneath Rising Sun returns very high grades. SDDSC230 intersected 0.3 m @ 1,466.7 g/t AuEq (1,466.4 g/t Au, 0.1% Sb) from 886.7 m, hosting an individual assay of 0.1 m @ 4,500 g/t Au, the fourth-highest single gold assay returned at Sunday Creek to date. The composite ranks as the 12th best composite intersection drilled at the project. SDDSC230 returned four further composites in the same intersection, headlined by 1.3 m @ 120.7 g/t AuEq from 987.1 m hosting individual assays of 428.0 g/t Au and 293.0 g/t Au, together with 4.3 m @ 9.0 g/t AuEq from 858.6 m, 1.0 m @ 33.0 g/t AuEq from 899.1 m and 0.6 m @ 52.2 g/t AuEq from 906.9 m.
High-grade mineralization keeps growing as drilling steps out. The five holes added three composite intersections exceeding 100 g/t Au, four between 50 and 100 g/t Au and eight individual gold assays above 50 g/t Au, lifting Sunday Creek to 96 composite intersections exceeding 100 g/t Au. Grade tenor continues to improve with depth at Rising Sun. Four of the eight individual very high-grade gold assays exceed 100 g/t Au and two exceed 400 g/t Au.
Grade continuity confirmed down-plunge and at depth. SDDSC230's high-grade intersection lines up with mineralization previously reported 166 m up-dip in SDDSC144 (3.6 m @ 118.0 g/t AuEq), confirming continuity of the RS19 vein set, while SDDSC231, the deepest east-to-west step-out drilled to date, tied in beside control hole SDDSC152 with high grades on either side. SDDSC231 returned 0.4 m @ 82.1 g/t AuEq (82.1 g/t Au) from 823.3 m and 0.4 m @ 24.4 g/t AuEq (24.3 g/t Au) from 1031.7 m, the deepest mineralization intersected at Rising Sun to date.
The mineralized system continues to expand. Step-outs of roughly 100 m to 120 m on the RS50, RS60 and RS18 vein sets, 50 m on RS40 and 150 m in SDDSC231 extended mineralization laterally and at depth, returning high-grade intercepts across the newly tested positions. In total the holes tested approximately 200 m of lateral extent and approximately 300 vertical metres, with two vein sets intersected outside the current Exploration Target. SDDSC205 returned 0.5 m @ 60.4 g/t AuEq (60.4 g/t Au) from 852.4 m, including 0.17 m @ 175.0 g/t Au, from the footwall of the system, and wedge SDDSC230W1 returned 0.4 m @ 88.6 g/t AuEq (88.6 g/t Au) from 842.8 m.
Michael Hudson, President & CEO, states:
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