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Southern Cross Gold Consolidated Ltd. reports exploration and project-development updates for the 100%-owned Sunday Creek gold-antimony project in Victoria. Recurring news covers diamond-drill results from prospects including Rising Sun, Apollo, Golden Dyke and Christina, visible-gold intersections, mineralization extensions, and metallurgical test work involving gold recovery and antimony concentrate characteristics.
The company's updates also document public-market status changes, including trading on the Toronto Stock Exchange, Australian Securities Exchange and OTCQX market, alongside corporate communications tied to its gold-antimony exploration focus.
Mawson Gold announces a significant new gold-antimony discovery by Southern Cross Gold at the Sunday Creek Project in Victoria, Australia. The discovery, made 100-150m below the Golden Dyke historic mine, revealed seven high-grade vein sets over a 230m downhole interval, including assays up to 124g/t gold and 31.5% antimony. Key intercepts include:
- 11.9m @ 5.3 g/t AuEq
- 12.6m @ 8.0 g/t AuEq
- 8.7m @ 4.6 g/t AuEq
SDDSC130, the first of several planned drill holes, remains open in multiple directions. Mawson owns 48.7% of SXG, valuing its stake at A$252.1 million. The discovery expands the mineralized system at Sunday Creek, with more drilling planned. The high antimony content is significant given China's recent export restrictions on the metal, potentially benefiting SXG's market position.
Mawson Gold announces significant results from two diamond drill holes at Southern Cross Gold's Sunday Creek Project in Victoria, Australia. The holes, SDDSC125 and SDDSC126, extend the exploration target area by 190 m and 470 m respectively below the historic Golden Dyke mine. Notable intersections include:
- SDDSC126: 0.6 m @ 14.6 g/t Au, 0.2 m @ 29.0 g/t Au, and 0.4 m @ 44.4 g/t Au
- SDDSC125: 1.0 m @ 2.4 g/t AuEq (1.4 g/t Au, 0.5% Sb)
These results demonstrate the continuity of high-grade gold and antimony mineralization at depth. The next phase involves drilling east-west holes to better test mineralization below Golden Dyke. Mawson owns 48.9% of Southern Cross Gold, valued at C$251.9 million based on SXG's closing price on August 26, 2024.
Mawson Gold (TSXV:MAW) announces high-grade gold-antimony results from two diamond drill holes at the Rising Sun prospect of Southern Cross Gold's Sunday Creek Project in Victoria, Australia. Key highlights include:
- SDDSC122W1: 7.0 m @ 20.0 g/t AuEq (16.7 g/t Au, 1.7% Sb) from 627.0 m
- SDDSC122: 0.1 m @ 356.4 g/t AuEq (356.0 g/t Au, 0.2% Sb) from 645.4 m
These results extend high-grade mineralization 150 m down-dip at Rising Sun West. The project now has 44 drill holes with >100 g/t AuEq * m intercepts. Mawson owns 48.9% of Southern Cross Gold, valued at C$215.71 million. The company highlights the significance of antimony mineralization in light of China's new export limits on antimony products.
Mawson Gold announces significant drilling results from its Sunday Creek Gold-Antimony Project in Victoria, Australia. Key highlights include:
1. Drill hole SDDSC121W1 intersected high-grade gold and antimony, including 0.4 m @ 291.3 g/t Au and 10.6% Sb.
2. SDDSC120 discovered a new mineralized zone 450 m below previous drilling at Golden Dyke.
3. The project now has five drill rigs operating, with plans to drill 60 km over the next year.
4. Mawson owns 49.3% of Southern Cross Gold, valued at C$193.7 million based on SXG's closing price on July 19, 2024.
These results demonstrate the project's potential for expansion and the robustness of the geological model.
Mawson Gold (OTC PINK:MWSNF) reports significant drilling results from its Southern Cross Gold (SXG) at the Apollo prospect in Australia. Drill hole SDDSC119 extended mineralization by 200 meters and infilled a 260-meter gap, showing high-grade gold and antimony intersections. Key intercepts include 1.4 meters at 20.0 g/t AuEq and 11.5 meters at 6.0 g/t AuEq. Another hole, SDDSC119W1, confirmed mineralization continuity over a 0.6 meter distance. Mawson's stake in SXG is valued at A$232.8 million. Nine more drill holes are being analyzed, with four in progress. These results show potential for project expansion and grade continuity at various scales, bolstered by ongoing drilling efforts.
Mawson Gold's subsidiary, Southern Cross Gold (SXG), announced drilling results from the Rising Sun prospect at the Sunday Creek Project in Victoria, Australia. The deepest hole, SDDSC118, extended high-grade mineralization 80 meters down dip, with a notable intersection of 3.6 meters at 124.8 g/t gold. The hole intercepted 11 high-grade vein sets, including three new sets at depth, and achieved two of the top 10 results for Sunday Creek. Ten holes are currently being processed and analyzed, with four holes in progress. Mawson holds a 49.6% stake in SXG, valued at A$270.4 million.
Mawson Gold announced a non-binding term sheet (NBTS) for acquiring Southern Cross Gold via an Australian scheme of arrangement. Upon completion, Mawson will rename itself to Southern Cross Gold , maintaining its TSXV listing and seeking a dual listing on the ASX. A share consolidation at a ratio of around 3.1581:1 will occur before the acquisition.
Key benefits include simplified corporate structure, reduced cost of capital, and direct exposure to the high-margin Sunday Creek gold-antimony asset. The current board and management of SXG will lead the new entity. A proposed spin-off of Mawson's Swedish uranium assets is also planned.
This transaction aims to broaden market access, eliminate major shareholder overhang, and attract institutional support. Shareholder votes and regulatory approvals are pending, with a 3-4 month timeline anticipated for completion.
Mawson Gold's subsidiary Southern Cross Gold has announced significant results from its Sunday Creek Project in Victoria, Australia. The company drilled two diamond drill holes, intersecting multiple high-grade gold and antimony structures. Highlights include SDDSC115A with 3.2m @ 48.2 g/t AuEq and SDDSC117 with 0.5m @ 473.1 g/t AuEq. Southern Cross Gold plans to drill 60 km over the next year, starting a specialized NAVI drilling program to enhance confidence in grade continuity. Mawson holds a 51% stake in SXG, valued at A$270.5 million. Further exploration includes a regional IP geophysical survey.
Mawson Gold (OTC PINK: MWSNF) announced it has fully exercised its participation rights in Southern Cross Gold’s (SXG) Rights Issue to maintain its 50.6% ownership. The Rights Issue closed on May 9, 2024. Mawson acquired 2,840,910 SXG shares at A$1.82 per share, totaling A$5,170,456.20. This brings Mawson's holdings to 96,590,910 shares, valued at A$286,875,003 as of May 13, 2024. The proceeds will be used by SXG to fund ongoing exploration of the Sunday Creek project. Mawson seeks to maximize shareholder value by exploring ways to provide direct access to SXG shares.
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