Why Southern Cross Gold's Share Price is Up 50%
Southern Cross Gold Ltd
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Why Southern Cross Gold's Share Price is Up 50%

Southern Cross Gold has announced a groundbreaking discovery at its Sunday Creek Project in Victoria, Australia. The drilling operation has yielded a spectacularly wide and high-grade intersection of gold-antimony mineralisation. The 100%-owned Rising Sun Prospect has produced a record-breaking hole, SDDSC077B, which has exceeded previous SA exploration results by almost three times.

The Discovery

SDDSC077B intersected 404. 4 m @ 5. 6 g/t AuEq (5. 1 g/t Au, 0.

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3% Sb) from 374. 0 m (uncut). The most notable results include two areas in the top ten list for Sunday Creek, with combined intersections containing up to 2,670 g/t Au. The unearthed geological treasures show that Southern Cross Gold has delivered on its strategy of demonstrating grade, volume, and scale by drilling a 25 m to 60 m spaced extension of high-grade mineralisation around SDDSC050 for the first time.

The Prospect

The Rising Sun Prospect is touted as significant for the company and the industry. As there was limited discovery of high-grade finds before this latest discovery, the results are a massive win for Southern Cross Gold. In particular, a 100 m step-out hole has demonstrated the potential for massive gold grades on each new discovery at the prospect.

What the Discovery Means for the Mining Industry

The mineralisation in the Rising Sun Prospect is expected to set a new standard for the mining industry. SDDSC077B proves that targeting high grades in an excellent deposit can drastically improve the discovery rate of high-grade material. The continuity of gold-bearing structures between the prospect's holes is critical, especially in the hanging wall to the dyke where the better mineralisation appears to be focused.

Southern Cross Gold's Managing Director, Michael Hudson, states, "Sunday Creek will now also be known as a project that has the propensity to develop these high grades. To have already discovered so many high-grade hits, at this early stage of the discovery history, is an extremely meaningful result. "

The share price for Southern Cross Gold Ltd has gone up by a staggering 50%, with the industry and investors taking note of this groundbreaking discovery. The company's strategy of targeting high grades in excellent deposits has paid off, and the mining industry can expect Southern Cross Gold to continue discovering high-grade intersections for years to come.

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