Golden Cross Resumes Aurora Drilling
Rhea-AI Summary
Golden Cross Resources (OTCQB: ZCRMF, TSXV: AUX) has resumed drilling at the Aurora Prospect after completing a pilot geophysical survey. The work improves understanding of historical mine workings and targets deeper mineralized structures. A ~3,000m diamond drilling campaign at Reedy Creek is underway, expected to finish in early Q4.
AI-generated analysis. Not financial advice.
Positive
- Approximately 3,000m diamond drilling campaign initiated at Aurora and Reedy Creek
- Pilot geophysical survey completed, improving understanding of historical workings at Aurora
- Deeper mineralized structures targeted beneath previously mined areas
- Additional geophysical programs advancing at Prince of Wales and Welcome Reef prospects
- Drill results to refine subsequent targets across high-grade gold prospects at Reedy Creek
Negative
- None.
Vancouver, British Columbia--(Newsfile Corp. - May 20, 2026) - Golden Cross Resources (TSXV: AUX) (OTCQB: ZCRMF) (FSE: ZML0) ("Golden Cross" or the "Company") is pleased to announce that drilling activities have resumed at the Aurora Prospect following the successful completion of the pilot geophysical survey.
The survey has provided the Company with an improved understanding of the depth and extent of historical workings at Aurora, enhancing its ability to target deeper mineralized structures beneath previously mined areas.
With drilling underway at Aurora, the Company is also advancing geophysical programs across additional areas of the Reedy Creek Project, beginning with the Prince of Wales and Welcome Reef prospects, to refine and prioritize future drill targets.
This next phase of targeted drilling will comprise approximately 3,000m of diamond drilling, supported by results from the Company's geophysical programs, including IP and magnetic surveys, as well as ongoing work across other high-impact, high-grade gold prospects at Reedy Creek. Drill results from the current program will continue to assist in vectoring and refining subsequent drill targets. The campaign is expected to be completed in early Q4.
Qualified Person
The scientific and technical information contained in this news release has been reviewed and approved by Mr. Alan Till, VP Exploration and a Qualified Person for Golden Cross Resources as defined in National Instrument 43-101 - Standards of Disclosure for Mineral Projects.
About Golden Cross Resources
Golden Cross Resources (TSXV: AUX) (OTCQB: ZCRMF) is a Canadian mineral exploration company focused on advancing the Reedy Creek gold project in Victoria, Australia. Located just 10 km from Southern Cross Gold's Sunday Creek discovery, the project covers two contiguous tenements in one of Australia's most active epizonal gold corridors.
For more information:
Matt Roma, Director & CEO
+1-778-726-3356
info@goldencrossresources.com
Additional information about Golden Cross can be found on its website: www.goldencrossresources.com and at www.sedarplus.ca.
CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION: This news release includes certain "forward-looking statements" under applicable Canadian securities legislation relating plans for future exploration and drilling and the timing of same, the merits of the Company's mineral projects and other plans of the Company. Forward-looking statements are statements that are not historical facts; they are generally, but not always, identified by the words "encouraging", "expects", "plans", "anticipates", "believes", "interpret", "intends", "estimates", "projects", "aims", "suggests", "often", "target", "future", "likely", "pending", "potential", "goal", "objective", "prospective", "possibly", "preliminary" and similar expressions, or that events or conditions "will", "would", "may", "can", "could" or "should" occur, or other statements, which, by their nature, refer to future events. The Company cautions that forward-looking statements are based on the beliefs, estimates and opinions of the Company's management on the date the statements are made, and that such statements are subject to risks and uncertainties that may cause actual results, performance or developments to differ materially from those contained in the statements. Consequently, there can be no assurances that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements.
Factors that could cause future results to differ materially from those anticipated in forward-looking statements include risks associated with exploration and drilling; the timing and content of upcoming work programs; geological interpretations based on drilling that may change with more detailed information; possible accidents; the possibility that the Company may not be able to secure permitting and other governmental approvals necessary to carry out the Company's plans; the risk that the Company will not be able to raise sufficient funds to carry out its business plans; the possibility that future exploration results will not be consistent with the Company's expectations; increases in costs; environmental compliance and changes in environmental and other local legislation and regulation; interest rate other risks associated with mineral exploration operations, the risk that the Company will encounter unanticipated geological factors and exchange rate fluctuations; changes in economic and political conditions; and other risks involved in the mineral exploration industry. The reader is urged to refer to the Company's Management's Discussion and Analysis, publicly available through the Canadian Securities Administrators' System for Electronic Document Analysis and Retrieval (SEDAR+) at www.sedarplus.ca for a more complete discussion of risk factors and their potential effects.
Forward-looking statements are based on a number of assumptions, including management's assumptions about the following: the availability of financing for the Company's exploration activities; operating and exploration costs; the Company's ability to attract and retain skilled staff; timing of the receipt of necessary regulatory and governmental approvals; market competition; and general business and economic conditions. The Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.
Neither TSX Venture Exchange nor its Regulation Service Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/298283