Southern Cross Gold Announces Drilling Results at Golden Dyke Demonstrate High-Grade Gold Mineralization and System Expansion

Including 168 m @ 3.0 g/t AuEq (2.4 g/t Au & 0.3% Sb) uncut

October 23, 2025 6:30 AM EDT | Source: Southern Cross Gold Consolidated Ltd.

Vancouver, British Columbia--(Newsfile Corp. - October 23, 2025) - Southern Cross Gold Consolidated Ltd (TSX: SXGC) (ASX: SX2) (OTCQX: SXGCF) (FSE: MV3) ("SXGC" or the "Company") announces results from SDDSC177 and SDDSC182 at the Golden Dyke prospect, at the 100%-owned Sunday Creek Gold-Antimony Project in Victoria (Figures 1 to 6). Best results included 168 m at 3.0 g/t AuEq (2.4 g/t Au, 0.3% Sb) (uncut) from 392.4 m including 6.2 m @ 16.5 g/t AuEq (16.0 g/t Au, 0.2% Sb) from 545.8 m.

Five High Level Takeaways:

  1. Large Intersection with Multiple Gold Zones - Drillhole SDDSC177 intersected 168 m of continuous mineralization containing ten separate vein sets averaging 3.0 g/t gold equivalent (uncut). This result demonstrates that Golden Dyke is a large-scale system, one of five mineralized bodies at Sunday Creek. 

  2. High-Grade Gold Hits - Multiple ultra-high-grade intercepts including 254 g/t gold over 0.4 m, 244 g/t gold over 0.1 m, and 184 g/t gold over 0.2 m demonstrate the Sunday Creek’s ability to deliver spectacular individual high-grades. 

  3. New Discoveries at Depth - Drilling confirmed a 100 m vertical extension of known mineralization and discovered a new high-grade vein set that returned an exceptional antimony grade of 52.3% - the third-highest ever recorded at Sunday Creek. 

  4. Golden Dyke and Rising Sun May Be Connected - Growing evidence suggests these two deposits share the same characteristics and may form one continuous mineralized corridor—potentially doubling the scale of the system.

  5. Further Drill Target Identified - Identification of an 80 to 100 m gap between Golden Dyke and Rising Sun that to date hasn't been properly tested, and our rigs are now positioned to drill this high-priority target area (Figure 5).

Michael Hudson, President & CEO, states: "SDDSC177's intersection of ten distinct vein sets over 168 m at 3.0 g/t AuEq (uncut) with cumulative intercepts exceeding 500 g/t AuEq x m demonstrates the substantial metal endowment at Golden Dyke. We've confirmed a 100 m vertical extension on the GD120 vein set and discovered a new high-grade vein set that returned 52.3% Sb over 0.2 m with 35.9 g/t Au - the third-highest antimony assay across the entire Sunday Creek project.

"The 168 m intersection in SDDSC177 at 3.0 g/t AuEq (2.35 g/t Au, 0.26% Sb) represents a significant system-scale result at Golden Dyke, comparable in width and character to the landmark SDDSC050 intersection at Rising Sun. SDDSC050, announced in November 2022, returned 305.8 metres at 2.4 g/t AuEq (1.6 g/t Au, 0.5% Sb) from 319.2m depth and was drilled in a west-to-east orientation across the Rising Sun structure. Like SDDSC050, SDDSC177 was oriented at a high angle to the strike of the mineralized vein sets.

"Golden Dyke is increasingly looking like part of the same connected system as Rising Sun. We're seeing consistent visible gold, high antimony approaching pure stibnite, and discrete high-grade cores within broader halos. The bonanza intercepts - 254 g/t Au over 0.4 m, 244 g/t Au over 0.1 m, and 184 g/t Au over 0.2 m with 14.8% Sb - are Rising Sun-style quality results.

"Our systematic drill review has identified 80 m to 100 m of inadequately tested strike length between Golden Dyke and Rising Sun - representing a potential 160 m strike extension equivalent to another Rising Sun scale deposit. This dual character of bonanza intercepts like 6.2 m @ 16.5 g/t AuEq (16.0 g/t Au, 0.2% Sb). nested within broader zones like 168 m at 3.0 g/t AuEq (uncut) gives us the potential for significant mining optionality. "We've repositioned our deep core rig to test these corridors and the deepest Golden Dyke sections. With 37 holes being processed and nine actively drilling, our 200,000 m drill program through Q1 2027 is designed to demonstrate the high-grade nature and true district-scale potential of Sunday Creek."

For Those Who Like the Details - Highlights: 

  1. Ten Vein Sets Intercepted in a Single Hole - SDDSC177 intersected 10 distinct mineralized vein sets within the main Golden Dyke zone 168 m at 3.0 g/t AuEq (2.4 g/t Au, 0.3% Sb) (uncut) from 392.4 m including 6.2 m @ 16.5 g/t AuEq (16.0 g/t Au, 0.2% Sb) from 545.8 m, demonstrating exceptional structural complexity and stacked mineralization geometry. 

  2. 500+ Gram-Metre Cumulative Grade - SDDSC177 achieved cumulative intercepts exceeding 500 gram-metres, with multiple intervals over 100 g/t AuEq x m and three intervals ranging from 50 to 100 g/t AuEq x m, indicating substantial metal accumulation in a single drill traverse. 

  3. 100-Metre Vertical Step-Out Confirmed - Successfully extended the GD120 vein set 100 m vertically below previous drilling, proving both significant mineralization continuity and depth potential. 

  4. New High-Grade Core Discovery (SDDSC177) - Identified a previously unknown high-grade core zone outside the current exploration target area, currently defined by only two pierce points but showing exceptional grade and tenor characteristics. 

  5. Project Record Antimony Grades (SDDSC177) - Returned 52.3% Sb and 35.9 g/t Au over 0.2m from 493.7 m - the third-highest individual antimony assay on the entire Sunday Creek project, approaching theoretical maximum of pure stibnite (71% Sb). 

  6. Bonanza Gold Intercepts Throughout System - SDDSC177 returned three individual assays exceeding 100 g/t Au, demonstrating consistent high-grade tenor across the mineralized envelope. The deepest intercept of 254 g/t Au over 0.4 m (from 545.9m downhole, 0.25% Sb) occurs within a broader 6.2 m @t 16.5 g/t AuEq from 545.8 m - exemplifying the nested high-grade shoots within economic envelopes. At mid-levels, 244 g/t Au over 0.1 m (from 482.8m downhole, 0.1% Sb) within a 2.9 m interval at 9.0 g/t AuEq demonstrates sharp, discrete high-grade cores characteristic of Rising Sun-style mineralization. Higher in the system, 184 g/t Au over 0.2 m with 14.8% Sb (from 431.8m downhole) forms part of a 4.4 m zone at 15.2 g/t AuEq, showing strong gold-antimony correlation typical of high-tenor zones. 

  7. Exceptional Combined Gold-Antimony Grades - The intersection of 93.2 g/t AuEq over 0.5 m (42.0 g/t Au, 21.4% Sb) from 493.7 m downhole within a 1.9 m interval at 25.1 g/t AuEq demonstrates the deposit's dual-commodity potential and premium metallurgical characteristics, with both metals at economic concentrations. 

  8. Rising Sun Geological Fingerprints - Consistent visible gold observations across multiple vein sets, antimony tenors approaching theoretical maximum, discrete high-grade cores within broader halos, and comparable grade distributions all indicate Golden Dyke shares the same mineralizing system characteristics as the Rising Sun deposit. 

  9. Strategic Drill Gap Identified - Systematic drill coverage review identified 80 m to 100 m of inadequately tested strike length between Golden Dyke and Rising Sun, representing a potential 160 m strike extension—essentially equivalent to another Rising Sun-scale deposit. A deep core rig is now repositioned to systematically test these high-priority corridors.

Drill Hole Discussion

SDDSC177

Drillhole SDDSC177 was collared to test a 130 m vertical window within the Golden Dyke mineralized zone, positioned between historical holes SDDSC171 and SDDSC141. The hole was oriented east-west, sub-parallel to the main dyke and associated alteration envelope, at a high angle to the mineralization and vein orientations and was designed as a 60 m spaced infill hole to refine the geometry and continuity of known mineralization.

The hole intersected two vein sets at the margins of the Upper Rising Sun zone before intersecting the principal Golden Dyke target. Within Golden Dyke proper, SDDSC177 intercepted an intensely mineralized zone of ten vein sets, including one previously undefined high-grade core and a significant 100 m vertical step-out on the GD120 vein set, demonstrating the continued growth of the mineralized system at depth.

The complete Golden Dyke intersection returned a broad, stacked mineralized zone totalling 168 m @ 3.0 g/t AuEq (2.4 g/t Au and 0.3% Sb) uncut. Within this interval, a 2 m cut-off at 1.0 g/t AuEq encompasses discrete high-grade zones, including one interval exceeding 100 g/t AuEq x m and three intervals ranging from 50 g/t to 100 g/t AuEq x m. These results underscore the extensive, stacked nature of the mineralization package and the presence of broad, lower-grade halos surrounding higher-grade cores.

Key Highlights from SDDSC177:

Ten vein sets intercepted within the main Golden Dyke zone, demonstrating the density and complexity of the mineralized system

  • A 100 m vertical step-out on the GD120 vein set, confirmed the depth extension of known mineralization

  • Discovery of one new high-grade core zone outside the current exploration target area

  • Cumulative grade intercept exceeding 500 gram-metres, demonstrating significant metal accumulation

  • Frequent visible gold observations throughout the intersection, indicative of high-grade tenor

  • Third-highest antimony assay recorded on the project (52.3% Sb), approaching theoretical maximum of pure stibnite

  • Consistent high-grade cores with associated visible gold, exhibiting Rising Sun deposit characteristics

SDDSC177 returned three individual assays exceeding 100 g/t Au:

  • 254 g/t Au over 0.4 m (from 545.9 m downhole, 0.25% Sb)

  • 244 g/t Au over 0.1 m (from 482.8 m downhole, 0.1% Sb)

  • 184 g/t Au over 0.2 m (from 431.8 m downhole, 14.8% Sb)

A high-grade antimony intercept was recorded, returning 52.3% Sb over 0.2 m, associated with 35.9 g/t Au at 493.65 m downhole. This represents the third-highest individual antimony assay on the project to date and approaches the theoretical maximum grade of pure stibnite (Sb₂S₃ ≈ 71% Sb). This result reinforces the deposit's strategic significance as a potential source of critical antimony for Western markets.

Drill hole highlights include:

  • 3.5 m @ 7.3 g/t AuEq (7.3 g/t Au, 0.0% Sb) from 91.2 m, including:

    • 2.4 m @ 9.5 g/t AuEq (9.5 g/t Au, 0.0% Sb) from 91.2 m

  • 0.6 m @ 23.8 g/t AuEq (17.0 g/t Au, 2.9% Sb) from 145.0 m, including:

  • 0.2 m @ 60.3 g/t AuEq (41.7 g/t Au, 7.8% Sb) from 145.0 m

  • 4.4 m @ 15.2 g/t AuEq (10.1 g/t Au, 2.2% Sb) from 428.7 m, including:

    • 1.1 m @ 48.0 g/t AuEq (33.6 g/t Au, 6.0% Sb) from 431.8 m

  • 0.5 m @ 78.6 g/t AuEq (76.0 g/t Au, 1.1% Sb) from 458.9 m

  • 4.5 m @ 14.4 g/t AuEq (13.7 g/t Au, 0.3% Sb) from 461.6 m, including:

    • 0.9 m @ 41.5 g/t AuEq (39.4 g/t Au, 0.8% Sb) from 461.6 m

    • 0.6 m @ 43.8 g/t AuEq (43.6 g/t Au, 0.1% Sb) from 464.6 m

  • 2.9 m @ 9.0 g/t AuEq (8.7 g/t Au, 0.1% Sb) from 482.8 m, including:

    • 0.1 m @ 244.1 g/t AuEq (244.0 g/t Au, 0.1% Sb) from 482.8 m

  • 1.9 m @ 25.1 g/t AuEq (11.1 g/t Au, 5.8% Sb) from 492.3 m, including:

    • 0.5 m @ 93.2 g/t AuEq (42.0 g/t Au, 21.4% Sb) from 493.7 m

  • 8.3 m @ 8.1 g/t AuEq (5.8 g/t Au, 1.0% Sb) from 504.5 m, including:

    • 2.8 m @ 17.0 g/t AuEq (13.1 g/t Au, 1.7% Sb) from 507.0 m

    • 1.4 m @ 7.2 g/t AuEq (5.6 g/t Au, 0.6% Sb) from 510.9 m

  • 1.5 m @ 13.7 g/t AuEq (13.5 g/t Au, 0.1% Sb) from 528.3 m

  • 6.2 m @ 16.5 g/t AuEq (16.0 g/t Au, 0.2% Sb) from 545.8 m, including:

    • 1.3 m @ 76.7 g/t AuEq (76.1 g/t Au, 0.2% Sb) from 545.8 m

The intersection of multiple mineralized zones across significant intervals, combined with the discrete high-grade cores, demonstrates Golden Dyke's potential to support both selective high-grade and bulk mining scenarios. This character builds towards Golden Dyke being increasingly analogous to the Rising Sun deposit in nature, with the capacity to generate value from both premium high-grade ore and broader mineralized envelopes. The consistency of high-grade tenor, frequent visible gold occurrence, and elevated antimony values mirror the characteristics observed at Rising Sun, supporting the interpretation that these deposits may be part of a continuous mineralized system.

SDDSC182

Drillhole SDDSC182 was an infill drillhole designed to test a 20 m to 50 m vertical window within the Golden Dyke mineralized zone. The hole was oriented west-east, sub-parallel to the main dyke and associated alteration envelope, at a high angle to the mineralization and vein orientations and was designed to refine the geometry and expand the continuity of known mineralization.

Five vein sets were intercepted in the main Golden Dyke zone, including one interval exceeding 50 g/t AuEq x m. Broad zones of lower grade were intercepted on the peripheries of the Golden Dyke system to the west in the upper portion of the hole (Figures 1 to 4).

SDDSC182 returned two significant individual intersections of antimony >30%:

  • 39% Sb over 0.1 m (from 224.2 m downhole, 9.97g/t Au)

  • 35.7% Sb over 0.3 m (from 426.9 m downhole, 86 g/t Au)

Drill hole highlights include:

  • 0.7 m @ 19.4 g/t AuEq (2.7 g/t Au, 7.0% Sb) from 223.6 m

  • 1.5 m @ 39.1 g/t AuEq (19.5 g/t Au, 8.2% Sb) from 426.5 m, including:

    • 0.7 m @ 76.4 g/t AuEq (38.2 g/t Au, 16.0% Sb) from 426.5 m

  • 6.5 m @ 1.8 g/t AuEq (0.9 g/t Au, 0.4% Sb) from 432.1 m

  • 4.4 m @ 7.8 g/t AuEq (5.1 g/t Au, 1.1% Sb) from 441.1 m, including:

    • 0.7 m @ 42.8 g/t AuEq (26.6 g/t Au, 6.8% Sb) from 444.0 m

  • 4.9 m @ 2.0 g/t AuEq (1.3 g/t Au, 0.3% Sb) from 447.9 m

System-Wide Implications

The results from SDDSC177 and SDDSC182 continue to validate the extensive nature of the Golden Dyke mineralized system. The identification of previously untested corridors between Golden Dyke and Rising Sun, combined with the consistent grades intersected where drilling has been conducted, suggests significant exploration upside remains. Current drilling programs are now being positioned to test these gaps, with rigs being relocated to systematically evaluate approximately 80 m to 100 m of strike length that has not been adequately tested to date.

The consistency of mineralization characteristics across both Golden Dyke and Rising Sun - including high-grade cores, visible gold frequency, antimony tenor, and vein set architecture - increasingly supports the interpretation that these zones may represent a connected mineralized corridor exceeding 160 m in strike length, analogous to the scale of the Rising Sun deposit itself.

Pending Results and Update

Results are pending from 37 holes currently being processed and analyzed including nine holes that are actively being drilled and four abandoned holes (Figure 2). The Company continues its 200,000 m drill program through Q1 2027. Nine drill rigs are currently operational, including a deep core rig that has been relocated to test the deepest sections of Golden Dyke and to systematically drill through previously untested areas that may connect Golden Dyke and Rising Sun mineralization. A tenth rig will be mobilised to undertake regional work at Sunday Creek.

About Sunday Creek

The Sunday Creek epizonal-style gold project is located 60 km north of Melbourne within 16,900 hectares ("Ha") of granted exploration tenements. SXGC is also the freehold landholder of 1,054.51 Ha that forms the key portion in and around the main drilled area at the Sunday Creek Project.

Gold and antimony form in a relay of vein sets that cut across a steeply dipping zone of intensely altered rocks (the "host"). These vein sets are like a "Golden Ladder" structure where the main host extends between the side rails deep into the earth, with multiple cross-cutting vein sets that host the gold forming the rungs. At Apollo and Rising Sun these individual 'rungs' have been defined over 600 m depth extent from surface to over 1,100 m below surface, are 2.5 m to 3.5 m wide (median widths) (and up to 10 m), and 20 m to 100 m in strike.

Cumulatively, 217 drill holes for 97,183.13 m have been reported from Sunday Creek since late 2020. This amount includes five holes for 929 m that have been drilled for geotechnical purposes and 19 holes for 2,120.27 m that were abandoned due to deviation or hole conditions. Fourteen drillholes for 2,383 m have been reported regionally outside of the main Sunday Creek drill area. A total of 64 historic drill holes for 5,599 m were completed from the late 1960s to 2008. The project now contains a total of Seventy-one (71) >100 g/t AuEq x m and seventy-eight (78) >50 to 100 g/t AuEq x m drill holes by applying a 2 m @ 1 g/t AuEq lower cut.

Our systematic drill program is strategically targeting these significant vein formations, which are currently defined over 1,350 m strike of the host from Christina to Apollo prospects, of which approximately 620 m has been more intensively drill tested (Rising Sun to Apollo). At least 86 'rungs' have been defined to date, defined by high-grade intercepts (20 g/t Au to >7,330 g/t Au) along with lower grade edges. Ongoing step-out drilling is aiming to uncover the potential extent of this mineralized system (Figure 5).

Geologically, the project is located within the Melbourne Structural Zone in the Lachlan Fold Belt. The regional host to the Sunday Creek mineralization is an interbedded turbidite sequence of siltstones and minor sandstones metamorphosed to sub-greenschist facies and folded into a set of open north-west trending folds.

Further Information

Further discussion and analysis of the Sunday Creek project is available through the interactive Vrify 3D animations, presentations and videos all available on the SXGC website. These data, along with an interview on these results with President & CEO/Managing Director Michael Hudson can be viewed at www.southerncrossgold.com.

No upper gold grade cut is applied in the averaging and intervals are reported as drill thickness. However, during future Mineral Resource studies, the requirement for assay top cutting will be assessed. The Company notes that due to rounding of assay results to one significant figure, minor variations in calculated composite grades may occur.

Figures 1 to 6 show project location, plan and longitudinal views of drill results reported here and Tables 1 to 3 provide collar and assay data. The true thickness of the mineralized intervals reported individually as estimated true widths ("ETW"), otherwise they are interpreted to be approximately 60% to 70% of the sampled thickness for other reported holes. Lower grades were cut at 1.0 g/t AuEq lower cutoff over a maximum width of 2 m with higher grades cut at 5.0 g/t AuEq lower cutoff over a maximum of 1 m width unless specified unless otherwise* specified to demonstrate higher grade assays.

Critical Metal Epizonal Gold-Antimony Deposits

Sunday Creek (Figure 6) is an epizonal gold-antimony deposit formed in the late Devonian (like Fosterville, Costerfield and Redcastle), 60 million years later than mesozonal gold systems formed in Victoria (for example Ballarat and Bendigo). Epizonal deposits are a form of orogenic gold deposit classified according to their depth of formation: epizonal (<6 km), mesozonal (6 km to 12 km) and hypozonal (>12 km).

Epizonal deposits in Victoria often have associated high levels of the critical metal, antimony, and Sunday Creek is no exception. China claims a 56 per cent share of global mined supplies of antimony, according to a 2023 European Union study. Antimony features highly on the critical minerals lists of many countries including Australia, the United States of America, Canada, Japan and the European Union. Australia ranks seventh for antimony production despite all production coming from a single mine at Costerfield in Victoria, located nearby to all SXGC projects. Antimony alloys with lead and tin which results in improved properties for solders, munitions, bearings and batteries. Antimony is a prominent additive for halogen-containing flame retardants. Adequate supplies of antimony are critical to the world's energy transition, and to the high-tech industry, especially the semi-conductor and defence sectors where it is a critical additive to primers in munitions.

In August 2024, the Chinese government announced it will place export limits from September 15, 2024 on antimony and antimony products. This puts pressure on Western defence supply chains and negatively affect the supply of the metal and push up pricing given China's dominance of the supply of the metal in the global markets. This is positive for SXGC as we are likely to have one of the very few large and high-quality projects of antimony in the western world that can feed western demand into the future.

Antimony represents approximately 21% to 24% in situ recoverable value of Sunday Creek at an AuEq of 2.39 ratio.

About Southern Cross Gold Consolidated Limited (TSX: SXGC) (ASX:SX2) (OTCQX: SXGCF) (FSE: MV3)

Southern Cross Gold Consolidated Ltd. (TSX: SXGC) (ASX: SX2) (OTCQX: SXGCF), controls the Sunday Creek Gold-Antimony Project located 60 km north of Melbourne, Australia. Sunday Creek has emerged as one of the Western world's most significant gold and antimony discoveries, with exceptional drilling results including 71 intersections exceeding 100 g/t AuEq x m from just 102.8 km of drilling. The mineralization follows a "Golden Ladder" structure over 12 km of strike length, with confirmed continuity from surface to 1,100 m depth.

Sunday Creek's strategic value is enhanced by its dual-metal profile, with antimony contributing approximately 20% of the in-situ value alongside gold, meaning Importantly, Sunday Creek can be developed primarily based on gold economics, which reduces antimony-related risks while maintaining strategic supply potential. This has gained increased significance following China's export restrictions on antimony, a critical metal for defense and semiconductor applications. Southern Cross' inclusion in the US Defense Industrial Base Consortium (DIBC) and Australia's AUKUS-related legislative changes position it as a potential key Western antimony supplier.

Technical fundamentals further strengthen the investment case, with preliminary metallurgical work showing non-refractory mineralization suitable for conventional processing and gold recoveries of 93-98% through gravity and flotation.

With a strong cash position, over 1,000 Ha of strategic freehold land ownership, and a large 200 km drill program planned through Q1 2027, SXGC is well-positioned to advance this globally significant gold-antimony discovery in a tier-one jurisdiction.

- Ends -

This announcement has been approved for release by the Board of Southern Cross Gold Consolidated Ltd.

For further information, please contact:

Mariana Bermudez - Corporate Secretary
mbermudez@chasemgt.com or +1 604 685 9316
Executive Office
1305 - 1090 West Georgia Street Vancouver, BC, V6E 3V7, Canada

Nicholas Mead - Corporate Development
info@southerncrossgold.com.au or +61 415 153 122

Justin Mouchacca, Assistant Company Secretary,
jm@southerncrossgold.com.au or +61 3 8630 3321

Subsidiary Office
Level 21, 459 Collins Street, Melbourne, VIC, 3000, Australia

NI 43-101 Technical Background and Qualified Person

Michael Hudson, President and CEO and Managing Director of SXGC, and a Fellow of the Australasian Institute of Mining and Metallurgy, and Mr Kenneth Bush, Exploration Manager of SXGC and a RPGeo (10315) of the Australian Institute of Geoscientists, are the Qualified Persons as defined by the NI 43-101. They have prepared, reviewed, verified and approved the technical contents of this release.

Analytical samples are transported to the Bendigo facility of On Site Laboratory Services ("On Site") which operates under both an ISO 9001 and NATA quality systems. Samples were prepared and analyzed for gold using the fire assay technique (PE01S method; 25 gram charge), followed by measuring the gold in solution with flame AAS equipment. Samples for multi-element analysis (BM011 and over-range methods as required) use aqua regia digestion and ICP-MS analysis. The QA/QC program of Southern Cross Gold consists of the systematic insertion of certified standards of known gold content, blanks within interpreted mineralized rock and quarter core duplicates. In addition, On Site inserts blanks and standards into the analytical process.

SXGC considers that both gold and antimony that are included in the gold equivalent calculation ("AuEq") have reasonable potential to be recovered and sold at Sunday Creek, given current geochemical understanding, historic production statistics and geologically analogous mining operations. Historically, ore from Sunday Creek was treated onsite or shipped to the Costerfield mine, located 54 km to the northwest of the project, for processing during WW1. The Costerfield mine corridor, now owned by Alkane Resources (previously Mandalay Resources) contains two million ounces of equivalent gold (Mandalay Resources Q3 2021 Results), and in 2020 was the sixth highest-grade global underground mine and a top 5 global producer of antimony.

SXGC considers that it is appropriate to adopt the same gold equivalent variables as Mandalay Resources Ltd in its 2024 End of Year Mineral Reserves and Resources Press Release, dated February 20, 2025. The gold equivalence formula used by Mandalay Resources was calculated using Costerfield's 2024 production costs, using a gold price of US$2,500 per ounce, an antimony price of US$19,000 per tonne and 2024 total year metal recoveries of 91% for gold and 92% for antimony, and is as follows:

AuEq = Au (g/t) + 2.39 × Sb (%)

Based on the latest Costerfield calculation and given the similar geological styles and historic toll treatment of Sunday Creek mineralization at Costerfield, SXGC considers that a AuEq = Au (g/t) + 2.39 × Sb (%) is appropriate to use for the initial exploration targeting of gold-antimony mineralization at Sunday Creek.

JORC Competent Person Statement

Information in this announcement that relates to new exploration results contained in this report is based on information compiled by Mr Kenneth Bush and Mr Michael Hudson. Mr Bush is a Member of Australian Institute of Geoscientists and a Registered Professional Geologist in the field of Mining (#10315) and Mr Hudson is a Fellow of The Australasian Institute of Mining and Metallurgy. Mr Bush and Mr Hudson each have sufficient experience relevant to the style of mineralization and type of deposit under consideration, and to the activities undertaken, to qualify as a Competent Person as defined in the 2012 Edition of the Joint Ore Reserves Committee (JORC) Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves. Mr Bush is Exploration Manager and Mr Hudson is President, CEO and Managing Director of Southern Cross Gold Consolidated Limited and both consent to the inclusion in the report of the matters based on their information in the form and context in which it appears.

Certain information in this announcement that relates to prior exploration results is extracted from the Independent Geologist's Report dated 11 December 2024 which was issued with the consent of the Competent Person, Mr Steven Tambanis. The report is included the Company's prospectus dated 11 December 2024 and is available at www.asx.com.au under code "SX2". The Company confirms that it is not aware of any new information or data that materially affects the information related to exploration results included in the original market announcement. The Company confirms that the form and context of the Competent Persons' findings in relation to the report have not been materially modified from the original market announcement.

Certain information in this announcement also relates to prior drill hole exploration results, are extracted from the following announcements, which are available to view on www.southerncrossgold.com:

The Company confirms that it is not aware of any new information or data that materially affects the information included in the original document/announcement and the Company confirms that the form and context in which the Competent Person's findings are presented have not materially modified from the original market announcement.

Forward-Looking Statement

This news release contains forward-looking statements. Forward-looking statements involve known and unknown risks, uncertainties and assumptions and accordingly, actual results and future events could differ materially from those expressed or implied in such statements. You are hence cautioned not to place undue reliance on forward-looking statements. All statements other than statements of present or historical fact are forward-looking statements. Forward-looking statements include words or expressions such as "proposed", "will", "subject to", "near future", "in the event", "would", "expect", "prepared to" and other similar words or expressions. Factors that could cause future results or events to differ materially from current expectations expressed or implied by the forward-looking statements include general business, economic, competitive, political, social uncertainties; the state of capital markets, unforeseen events, developments, or factors causing any of the expectations, assumptions, and other factors ultimately being inaccurate or irrelevant; and other risks described in the Company's documents filed with Canadian or Australian (under code SX2) securities regulatory authorities. You can find further information with respect to these and other risks in filings made by the Company with the securities regulatory authorities in Canada or Australia (under code SX2), as applicable, and available for the Company in Canada at www.sedarplus.ca or in Australia at www.asx.com.au (under code SX2). Documents are also available at www.southerncrossgold.com The Company disclaims any obligation to update or revise these forward-looking statements, except as required by applicable law.

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Figure 1: Sunday Creek plan view showing selected results from holes SDDSC177 and SDDSC182 reported here (dark blue highlighted box, black trace), with selected prior reported drill holes.

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Figure 2: Sunday Creek plan view showing selected drillhole traces from holes SDDSC177 and SDDSC182 reported here (black trace), with prior reported drill holes (grey trace) and currently drilling and assays pending hole traces (dark blue).

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Figure 3: Sunday Creek longitudinal section across A-B in the plane of the dyke breccia/altered sediment host looking towards the north (striking 236 degrees) showing mineralized veins sets. Showing holes SDDSC177 and SDDSC182 reported here (dark blue highlighted box, black trace), with selected intersections and prior reported drill holes. The vertical extents of the vein sets are limited by proximity to drill hole pierce points. 

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Figure 4: Sunday Creek longitudinal section along line A-B, viewed looking north (strike 236°), showing mineralized intersections exceeding 50 g/t AuEq x m and untested areas. Note that all areas except Rising Sun have only begun to test high-grade mineralization below the semi-brittle, sulphosalt-dominant domain.

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Figure 5: Sunday Creek regional plan view showing soil sampling, structural framework, regional historic epizonal gold mining areas and broad regional areas tested by 12 holes for 2,383 m drill program. The regional drill areas are at Tonstal, Consols and Leviathan located 4,000-7,500 m along strike from the main drill area at Golden Dyke- Apollo. Map in GDA94/ MGA Zone 55.

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Figure 6: Location of the Sunday Creek project, along with the 100% owned Redcastle Gold-Antimony Project

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Table 1: Drill collar summary table for recent drill holes in progress.

This Release
Hole IDDepth
(m)		ProspectEast 
GDA94 Z55		North 
GDA94 Z55		Elevation
(m)		DipAzimuth 
GDA94 Z55
SDDSC177655.3Golden Dyke330774.95867890.7295.2-52.2258.1
SDDSC182586.21Golden Dyke3302195867664.1268.9-41.660.8
Currently being processed and analyzed
Hole IDDepth
(m)		ProspectEast 
GDA94 Z55		North 
GDA94 Z55		Elevation(
m)		DipAzimuth 
GDA94 Z55
SDDSC167404.8Apollo East331830.35868092.4347.9-37.9216.9
SDDSC176865.8Golden Dyke330950.25868006.1313.7-53.2257.3
SDDSC179448.8Apollo3314655867862.9333.2-38.6265.4
SDDSC1801159.77Christina330753.25867732.9306.8-45273.1
SDDSC1811142.5Apollo331614.85867952.3346.9-52.7269.2
SDDSC174B912.5Apollo331596.25867936.2345.5-41.6263
SDDSC183343.1Christina329713.95867445.1300.1-40340.2
SDDSC184A800.5Golden Dyke330775.15867890.9295.3-54.8263.2
SDDSC186791.5Golden Dyke330950.55868006.3313.8-54262.6
SDDSC187518.3Rising Sun330510.75867852.7295.4-50.575.4
SDDSC185651.85Regional329233.25867241.6323.9-3525
SDDSC186W1774.1Golden Dyke330950.55868006.3313.8-54262.6
SDDSC188702.8Christina330218.35867664268.9-50.557.9
SDDSC189707Regional329232.55867216.9324.3-35150.1
SDDSC190451.8Rising Sun330511.45867852.5295.5-40.880.1
SDDSC1921141Apollo331615.25867952.3347-56.2268.8
SDDSC186W2In Progress plan 1100 mGolden Dyke330950.55868006.3313.8-54262.6
SDDSC193669Golden Dyke330775.45867891295.5-58.6262.2
SDDSC194In Progress plan 1650 mGolden Dyke330811.45867596.4295.1-64.4311.2
SDDSC195152.15Apollo330989.75867715.6318-53.360.5
SDDSC196In Progress plan 1080 mRising Sun330484.25867893.4289.5-64.474.8
SDDSC197791.5Golden Dyke330217.85867664.2268.9-58.750.8
SDDSC198275Apollo331180.45867849.1306.1-31.5248.6
SDDSC199503.5Apollo330887.55867704.5312.7-42.852.2
SDDSC200In Progress plan 320 mApollo330887.55867704.5312.7-47.653.3
SDDSC201320.4Rising Sun330948.35868003.4313.3-28.9231.3
SDDSC174BW1In Progress plan 935 mApollo331596.25867936.2345.5-41.6263
SDDSC191W11200Christina330753.55867733306.8-46.3275.2
SDDSC203In Progress plan 550 mGolden Dyke330775.35867888.9295.5-47.5253.4
SDDSC204In Progress plan 1210 mApollo331615.45867952.1347-58.3270.5
SDDSC206286.2Golden Dyke330752.75867732.8306.7-33301
SDDSC208In Progress plan 1300 mChristina330753.65867733306.8-47281
SDDSC207In Progress plan 540 mChristina330093.55867464277.9-48.520.8

 

Abandoned Drillholes
Hole IDPress Release
Depth		ProspectEast 
GDA94 Z55		North 
GDA94 Z55		Elevation(
m)		DipAzimuth 
GDA94 Z55
SDDSC174469.3Apollo331595.75867936.2345.4-42.1264.8
SDDSC174A306.7Apollo331595.55867936345.5-41.5263.2
SDDSC18477.5Golden Dyke3307755867890.7295.4-56.5259.2
SDDSC191864.4Christina330753.55867733306.8-46.1275.2

 

Table 2: Table of mineralized drill hole intersections reported from SDDSC177 and SDDSC182 with two cutoff criteria. Lower grades cut at 1.0 g/t AuEq lower cutoff over a maximum of 2 m with higher grades cut at 5.0 g/t AuEq cutoff over a maximum of 1 m. Significant intersections and interval depths are rounded to one decimal place.

Hole numberFrom (m)To (m)Interval (m)Au g/tSb %AuEq g/t
SDDSC17731.733.92.21.90.01.9
SDDSC17791.294.73.57.30.07.3
Including91.293.62.49.50.09.5
SDDSC177130.19130.290.159.00.059.0
SDDSC177144.95145.550.617.02.923.8
Including144.95145.150.241.77.860.3
SDDSC177151.31553.72.00.12.4
SDDSC177158.8160.61.81.20.01.2
SDDSC177174.5174.70.212.20.012.2
SDDSC177392.37393.571.23.40.03.5
SDDSC177398.58401.282.71.90.63.4
SDDSC177403.28404.180.97.80.79.4
SDDSC177421.97424.572.60.50.41.5
SDDSC177428.73433.134.410.12.215.2
Including431.84432.941.133.66.048.0
SDDSC177435.35437.852.52.00.12.4
SDDSC177458.9459.40.576.01.178.6
SDDSC177461.61466.114.513.70.314.4
Including461.61462.510.939.40.841.5
Including464.64465.240.643.60.143.8
SDDSC177482.79485.692.98.70.19.0
Including482.79482.890.1244.00.1244.1
SDDSC177492.25494.151.911.15.825.1
Including493.65494.150.542.021.493.2
SDDSC177498.86499.8611.41.54.9
SDDSC177504.48512.788.35.81.08.1
Including505.47505.670.24.79.527.4
Including507.04509.842.813.11.717.0
Including510.88512.281.45.60.67.2
SDDSC177528.32529.821.513.50.113.7
SDDSC177545.79551.996.216.00.216.5
Including545.79547.091.376.10.276.7
SDDSC177557.38557.680.31.32.77.7
SDDSC182155.05156.351.32.20.73.9
SDDSC182158.4161.63.20.60.10.8
SDDSC182211.37212.871.51.00.41.9
SDDSC182218.44219.641.22.11.55.7
SDDSC182223.6224.30.72.77.019.4
SDDSC182229.74230.340.63.00.33.7
SDDSC182237.51238.410.91.81.45.1
SDDSC182426.54281.519.58.239.1
Including426.5427.20.738.216.076.4
SDDSC182432.09438.596.50.90.41.8
SDDSC182441.08445.484.45.11.17.8
Including442.59442.790.227.40.227.9
Including443.97444.670.726.66.842.8
SDDSC182447.91452.814.91.30.32.0
SDDSC182455.12455.520.46.70.06.8
SDDSC182474.84772.20.40.20.9
SDDSC182482.8486.43.61.10.21.5
SDDSC182492.18492.380.27.15.720.8

 

Table 3: All individual assays reported from SDDSC177 and SDDSC182 reported here >0.1g/t AuEq. Individual assay and sample intervals are reported to two decimal places.

Hole numberFrom (m)To (m)Interval (m)Au g/tSb %AuEq g/t
SDDSC17730.5431.71.160.10.000.11
SDDSC17731.732.931.231.790.001.80
SDDSC17732.9333.90.971.960.001.97
SDDSC17791.292.31.113.20.0013.21
SDDSC17792.393.61.36.340.006.35
SDDSC17793.694.71.12.580.002.59
SDDSC17795.396.20.90.660.000.67
SDDSC17797.197.950.850.790.030.87
SDDSC17798.399.41.10.460.020.50
SDDSC177101.3102.10.80.440.010.47
SDDSC177102.11030.90.10.010.11
SDDSC17710410510.150.010.17
SDDSC177105105.80.80.090.020.13
SDDSC177108.6109.610.20.000.21
SDDSC177109.6110.610.280.000.29
SDDSC177114114.80.80.080.020.12
SDDSC177119.8120.650.850.110.020.16
SDDSC177120.65121.10.450.060.020.12
SDDSC177124.2125.130.930.970.000.98
SDDSC177125.13125.430.30.280.000.29
SDDSC177125.43126.20.770.470.000.48
SDDSC177127.3127.40.10.840.000.84
SDDSC177127.91291.10.150.000.16
SDDSC177130.19130.30.11590.0259.04
SDDSC177130.3130.50.20.810.020.85
SDDSC177130.5131.651.150.160.000.17
SDDSC177131.65132.81.150.370.010.39
SDDSC177132.8133.320.520.440.010.45
SDDSC177133.32133.50.180.220.010.24
SDDSC177133.5134.090.590.160.000.17
SDDSC177135.5136.30.80.110.000.12
SDDSC177136.31370.70.250.000.26
SDDSC177137137.80.80.490.000.50
SDDSC177137.8138.30.50.10.000.11
SDDSC177140.4141.30.90.10.010.12
SDDSC177142.1142.80.70.40.000.41
SDDSC177144.4144.950.550.590.030.66
SDDSC177144.95145.150.241.77.8060.34
SDDSC177145.15145.50.352.850.042.96
SDDSC177145.5146.40.90.730.040.82
SDDSC177146.4147.20.80.220.230.77
SDDSC177147.21480.80.760.020.80
SDDSC177148.6149.30.70.10.010.13
SDDSC177149.3149.90.60.210.130.52
SDDSC177151.3152.10.81.710.122.00
SDDSC177152.1152.90.86.220.026.27
SDDSC177152.9153.350.450.120.030.19
SDDSC177153.35153.550.21.470.983.81
SDDSC177153.551540.450.460.070.62
SDDSC17715415510.580.191.03
SDDSC17715515610.520.030.59
SDDSC177156156.50.50.640.030.70
SDDSC177156.51570.50.10.030.17
SDDSC177158.8159.50.72.120.012.15
SDDSC177160160.60.61.120.011.14
SDDSC177160.61610.40.790.010.82
SDDSC177161161.80.80.40.020.44
SDDSC177161.81631.20.430.010.45
SDDSC17716316410.150.000.16
SDDSC177164164.90.90.230.010.24
SDDSC177164.9165.10.20.990.001.00
SDDSC177166.5166.910.410.230.000.23
SDDSC177171.5172.050.550.10.000.11
SDDSC177174.5174.690.1912.20.0012.21
SDDSC177174.69175.20.510.130.000.14
SDDSC177175.2175.650.450.20.000.21
SDDSC177176.48177.671.190.310.000.32
SDDSC177183.48184.10.620.940.000.95
SDDSC177184.1184.70.60.10.000.11
SDDSC177341.37341.50.130.130.000.14
SDDSC177392.37393.571.23.40.033.46
SDDSC177397.7398.580.880.140.010.16
SDDSC177398.58398.690.1130.90.2231.43
SDDSC177398.69399.270.580.090.010.11
SDDSC177399.27400.260.991.021.434.44
SDDSC177400.26401.31.040.590.241.16
SDDSC177401.3402.050.750.050.020.10
SDDSC177402.05402.870.820.530.050.65
SDDSC177402.87403.150.280.210.020.25
SDDSC177403.15403.280.130.50.020.55
SDDSC177403.28403.580.321.91.7125.99
SDDSC177403.58403.770.191.430.332.22
SDDSC177403.77404.20.430.810.091.02
SDDSC177404.24050.80.110.010.14
SDDSC177405.67405.950.280.350.190.80
SDDSC177407.15408.090.940.180.020.23
SDDSC177408.09408.230.141.140.752.93
SDDSC177408.23408.420.191.110.031.18
SDDSC177408.61408.770.161.440.352.28
SDDSC177408.77409.160.390.210.030.28
SDDSC177410.45411.160.710.080.010.11
SDDSC177411.16411.360.21.350.021.41
SDDSC177413.48413.90.420.340.010.36
SDDSC177418.41418.650.241.120.161.50
SDDSC177418.65418.980.330.090.040.18
SDDSC177418.98419.360.380.160.060.30
SDDSC177419.36419.760.40.210.020.26
SDDSC177419.76420.130.371.20.873.28
SDDSC177420.13420.860.730.340.010.37
SDDSC177420.86421.570.710.10.020.14
SDDSC177421.57421.690.120.410.050.52
SDDSC177421.69421.970.280.190.030.27
SDDSC177421.97422.190.220.470.992.84
SDDSC177422.19422.540.350.120.020.17
SDDSC177422.54422.650.110.920.562.26
SDDSC177422.65423.050.40.680.030.75
SDDSC177423.05424.171.120.050.030.11
SDDSC177424.17424.550.381.892.086.86
SDDSC177424.55425.851.30.210.160.59
SDDSC177427.73428.320.590.220.040.30
SDDSC177428.73429.010.285.670.045.75
SDDSC177429.01429.510.50.190.010.22
SDDSC177429.51429.750.240.370.050.50
SDDSC177429.75430.240.491.751.184.57
SDDSC177430.24430.40.162.362.538.41
SDDSC177430.4430.690.299.732.2014.99
SDDSC177430.69431.390.71.381.344.58
SDDSC177431.39431.840.450.870.331.66
SDDSC177431.84432.020.1818414.80219.37
SDDSC177432.02432.230.216.116.2521.05
SDDSC177432.23432.370.143.481.166.25
SDDSC177432.37432.80.434.735.3217.44
SDDSC177432.8432.950.152.221.816.55
SDDSC177432.95433.170.221.480.703.15
SDDSC177433.174340.830.110.020.16
SDDSC177434434.570.570.130.030.21
SDDSC177434.57435.350.780.170.030.23
SDDSC177435.35436.160.815.20.255.80
SDDSC177436.16436.680.521.230.141.56
SDDSC177436.68437.71.020.170.030.24
SDDSC177437.7437.850.150.210.371.09
SDDSC177438.88439.580.70.70.110.96
SDDSC177451.23451.720.490.230.050.35
SDDSC177451.72452.150.430.120.020.16
SDDSC177452.75453.270.520.180.040.28
SDDSC177453.27453.40.130.030.040.12
SDDSC177456.03456.410.380.10.030.16
SDDSC177456.81457.540.730.490.080.67
SDDSC177457.54457.880.340.10.030.16
SDDSC177457.88458.460.580.310.010.34
SDDSC177458.46458.90.440.150.030.21
SDDSC177458.9459.360.46761.1078.63
SDDSC177459.36460.020.660.240.030.32
SDDSC177460.02460.730.710.250.020.29
SDDSC177460.73461.610.880.170.030.25
SDDSC177461.61461.90.2952.30.5853.69
SDDSC177461.9462.250.3512.41.2315.34
SDDSC177462.25462.50.2562.40.6163.86
SDDSC177462.5462.640.142.640.042.74
SDDSC177462.64463.410.770.440.020.49
SDDSC177463.41463.630.223.10.023.14
SDDSC177463.63463.770.140.380.020.42
SDDSC177463.77464.330.560.980.021.04
SDDSC177464.33464.480.150.50.040.59
SDDSC177464.48464.640.160.120.030.19
SDDSC177464.64464.940.375.30.0575.43
SDDSC177464.94465.060.120.610.020.65
SDDSC177465.06465.190.1310.20.1510.56
SDDSC177465.19465.90.710.150.090.35
SDDSC177465.9466.080.180.781.323.93
SDDSC177466.08466.30.220.340.050.47
SDDSC177466.654670.350.370.020.42
SDDSC177467.8468.10.30.160.010.19
SDDSC177468.1468.220.120.370.010.40
SDDSC177468.22468.40.180.570.692.22
SDDSC177468.4468.50.11.510.081.70
SDDSC177468.5468.770.270.390.080.59
SDDSC177468.77468.90.1340.204.48
SDDSC177468.9469.430.530.080.010.11
SDDSC177469.43469.640.210.130.010.16
SDDSC177469.64470.010.370.210.010.23
SDDSC177470.01470.230.220.680.010.70
SDDSC177470.92471.150.232.41.926.99
SDDSC177471.15471.440.290.150.060.29
SDDSC177471.44471.630.190.350.010.38
SDDSC177471.63472.60.970.090.010.11
SDDSC177474.36474.490.130.550.140.88
SDDSC177475.56476.480.920.250.010.27
SDDSC177476.94477.170.230.130.010.15
SDDSC177477.75478.660.910.080.040.16
SDDSC177478.66479.630.970.440.040.53
SDDSC177480.93481.160.230.310.010.34
SDDSC177481.164820.840.260.040.35
SDDSC177482482.790.790.210.050.33
SDDSC177482.79482.890.12440.05244.12
SDDSC177482.89483.280.390.460.040.55
SDDSC177483.28483.80.520.190.010.21
SDDSC177483.8484.690.890.170.080.35
SDDSC177484.69484.930.241.450.452.53
SDDSC177484.93485.610.680.290.110.55
SDDSC177485.61485.720.110.910.492.08
SDDSC177485.72486.530.810.380.060.53
SDDSC177486.53486.730.20.480.070.64
SDDSC177486.73487.280.550.090.070.27
SDDSC177487.28487.380.10.20.080.38
SDDSC177487.38488.651.270.080.010.10
SDDSC177489.12489.440.320.170.010.20
SDDSC177489.44489.870.430.020.040.11
SDDSC177489.87490.490.620.260.050.39
SDDSC177490.49491.190.70.120.060.27
SDDSC177491.19491.490.30.610.010.64
SDDSC177491.49492.250.760.070.010.10
SDDSC177492.25492.390.141.311.284.37
SDDSC177492.39492.710.320.620.692.27
SDDSC177492.71493.210.50.130.050.26
SDDSC177493.21493.340.130.170.250.77
SDDSC177493.34493.650.310.10.230.65
SDDSC177493.65493.820.1735.952.30160.90
SDDSC177493.82494.140.3245.25.0357.22
SDDSC177494.14494.720.580.340.100.58
SDDSC177494.72495.340.620.040.080.23
SDDSC177496.35496.540.190.091.603.91
SDDSC177498.86499.010.151.140.602.57
SDDSC177499.76499.880.1210.111.7038.06
SDDSC177504.48505.070.590.940.271.59
SDDSC177505.07505.470.40.040.040.14
SDDSC177505.47505.660.194.729.4727.35
SDDSC177505.66506.130.470.010.070.18
SDDSC177507.04507.250.2140.75.1953.10
SDDSC177507.25507.650.40.30.681.93
SDDSC177508.07508.250.180.782.596.97
SDDSC177508.57508.770.23.62.7710.22
SDDSC177508.77509.20.4310.80.3511.64
SDDSC177509.2509.60.4394.6950.21
SDDSC177509.6509.80.231.30.7233.02
SDDSC177509.8510.130.330.260.070.43
SDDSC177510.13510.880.752.990.293.68
SDDSC177510.88511.420.547.50.418.48
SDDSC177511.42511.530.1110.40.7012.07
SDDSC177511.53511.850.322.220.673.82
SDDSC177511.85512.230.384.450.946.70
SDDSC177512.23512.80.571.30.723.02
SDDSC177512.8513.150.350.450.090.65
SDDSC177513.155140.850.050.030.11
SDDSC17751451510.170.030.25
SDDSC17751551610.280.020.33
SDDSC17751651710.210.010.24
SDDSC177522522.780.780.10.020.15
SDDSC177528.16528.320.160.090.010.12
SDDSC177528.32529.080.7618.20.0218.25
SDDSC177529.08529.380.39.320.219.82
SDDSC177529.38529.640.264.420.244.99
SDDSC177529.64529.840.213.40.0213.45
SDDSC177529.84530.050.210.180.020.22
SDDSC177530.05530.420.370.530.010.55
SDDSC177530.42530.60.180.10.020.15
SDDSC177530.6530.760.160.060.020.10
SDDSC177530.76531.120.360.070.020.11
SDDSC177531.12531.260.140.520.020.56
SDDSC177531.26531.590.330.140.010.17
SDDSC177531.59531.880.290.280.030.35
SDDSC177531.88532.510.630.070.020.11
SDDSC177532.51532.90.390.120.020.16
SDDSC177534.44535.040.60.10.020.14
SDDSC177535.69535.910.220.140.020.19
SDDSC177535.91536.270.360.120.030.18
SDDSC177538.77539.881.110.170.010.19
SDDSC177540.93541.920.990.090.040.19
SDDSC177543.61543.870.260.070.030.13
SDDSC177544.77545.120.350.160.020.21
SDDSC177545.57545.790.220.890.030.97
SDDSC177545.79545.90.117.360.057.48
SDDSC177545.9546.270.372540.25254.60
SDDSC177546.27546.460.190.910.111.17
SDDSC177546.46546.90.440.280.290.97
SDDSC177546.9547.050.155.580.286.25
SDDSC177547.05547.230.181.260.953.53
SDDSC177547.23547.520.290.40.100.64
SDDSC177547.52548.561.040.220.020.26
SDDSC177548.56549.120.560.140.040.25
SDDSC177549.12549.660.540.520.361.38
SDDSC177549.66550.070.410.110.020.17
SDDSC177550.07550.440.370.240.300.96
SDDSC177550.44551.370.930.130.040.21
SDDSC177551.37551.580.215.081.468.57
SDDSC177551.58551.950.370.740.361.60
SDDSC177551.95552.170.220.380.090.60
SDDSC177552.17552.560.390.630.100.86
SDDSC177552.56553.010.450.30.240.87
SDDSC177553.01553.60.590.040.030.12
SDDSC177553.94554.30.360.030.030.11
SDDSC177554.3555.110.810.230.100.47
SDDSC177556.47557.380.910.160.110.42
SDDSC177557.38557.640.261.342.677.72
SDDSC177557.64558.220.580.060.060.21
SDDSC177558.36558.740.380.210.040.32
SDDSC177559.15559.860.711.10.171.51
SDDSC177559.86560.390.530.340.040.42
SDDSC177564.19564.520.330.130.080.31
SDDSC177564.52565.50.980.070.020.11
SDDSC177567.525680.480.210.020.26
SDDSC177568568.350.350.030.030.11
SDDSC177649649.50.5-0.010.240.56
SDDSC182787910.120.010.13
SDDSC18211411510.120.000.12
SDDSC182120.41210.60.10.000.11
SDDSC18212612710.210.000.21
SDDSC182149.9150.70.81.020.171.43
SDDSC182150.7151.60.90.70.010.73
SDDSC182151.8152.40.60.40.010.42
SDDSC182152.4152.80.40.40.010.42
SDDSC18215315410.280.090.50
SDDSC182154155.051.050.650.010.67
SDDSC182155.05155.30.252.222.818.94
SDDSC182155.31560.70.840.241.41
SDDSC182156156.30.35.280.135.59
SDDSC182156.31570.70.370.010.39
SDDSC182158.4158.60.21.280.733.02
SDDSC182158.6159.610.290.050.40
SDDSC182159.6160.610.360.010.37
SDDSC182160.6161.611.150.011.17
SDDSC182161.6162.81.20.10.000.11
SDDSC182164.8165.20.40.440.010.47
SDDSC182167.751680.251.040.011.06
SDDSC18216816910.280.000.29
SDDSC18216917010.20.000.21
SDDSC18217217310.180.000.19
SDDSC18217317410.320.000.33
SDDSC18217417510.430.010.46
SDDSC18217517610.710.010.73
SDDSC18217617710.490.040.59
SDDSC182177178.051.050.120.000.13
SDDSC182178.31790.70.160.010.18
SDDSC18218018110.270.010.29
SDDSC182181181.20.20.640.050.76
SDDSC182181.2181.30.10.250.010.28
SDDSC182181.31820.71.020.031.10
SDDSC18218218310.650.010.67
SDDSC18218318410.330.010.34
SDDSC182184.7185.710.360.020.41
SDDSC182185.7186.81.10.420.020.48
SDDSC182186.8187.60.80.690.040.80
SDDSC182187.6188.610.180.010.21
SDDSC182190.4191.61.20.210.010.23
SDDSC182191.6192.81.20.10.000.11
SDDSC182194.84195.140.30.020.040.11
SDDSC182198.45198.980.530.280.000.29
SDDSC182202.33202.650.320.240.010.26
SDDSC182202.65202.770.120.780.010.80
SDDSC182202.77203.40.630.210.000.22
SDDSC182203.4204.160.760.110.000.12
SDDSC182208.06208.650.590.280.010.30
SDDSC182209.94210.040.10.030.250.63
SDDSC182210.53211.170.640.110.000.12
SDDSC182211.17211.370.20.720.060.86
SDDSC182211.37211.750.381.070.101.31
SDDSC182211.75212.120.370.550.100.79
SDDSC182212.12212.860.741.220.612.68
SDDSC182212.86213.250.390.210.030.29
SDDSC182213.252140.750.050.020.10
SDDSC182216.55217.170.620.30.080.50
SDDSC182217.42217.670.250.530.130.84
SDDSC182217.67217.880.210.830.010.86
SDDSC182217.88218.440.560.330.020.37
SDDSC182218.44218.90.463.170.724.89
SDDSC182218.9219.640.741.362.036.21
SDDSC182219.64220.550.910.080.020.13
SDDSC182220.97221.710.740.560.020.60
SDDSC182222.76223.60.840.340.040.44
SDDSC182223.6223.770.171.741.846.14
SDDSC182223.77224.020.250.730.100.96
SDDSC182224.02224.220.21.70.703.37
SDDSC182224.22224.340.129.9739.00103.18
SDDSC182224.34225.10.760.260.060.39
SDDSC182228.97229.340.370.270.070.43
SDDSC182229.34229.740.40.310.030.39
SDDSC182229.74230.360.623.030.263.65
SDDSC182230.36230.880.520.320.030.39
SDDSC182233.43233.810.380.150.010.16
SDDSC182236.55237.510.960.090.010.11
SDDSC182237.51237.840.332.132.097.13
SDDSC182237.84238.020.180.710.010.74
SDDSC182238.02238.160.142.52.999.65
SDDSC182238.16238.430.271.660.583.05
SDDSC182238.43239.71.270.190.010.22
SDDSC182241.52241.790.270.70.010.72
SDDSC182246.99248.071.080.090.010.11
SDDSC182248.07248.180.110.590.010.60
SDDSC182379.81380.230.420.210.010.24
SDDSC182380.23381.030.80.20.010.23
SDDSC182424.36424.90.540.120.010.14
SDDSC182424.9425.070.170.930.010.95
SDDSC182425.07425.210.140.570.010.59
SDDSC182425.21426.51.290.090.010.12
SDDSC182426.5426.930.434.882.1910.11
SDDSC182426.93427.230.38635.70171.32
SDDSC182427.23427.950.720.450.361.31
SDDSC182427.95428.680.730.060.070.22
SDDSC182428.68428.860.180.110.030.19
SDDSC182428.864290.140.090.010.12
SDDSC182432.09432.690.60.870.331.66
SDDSC182432.69433.660.970.090.020.13
SDDSC182434.7434.930.233.130.524.37
SDDSC182434.93435.060.130.380.010.41
SDDSC182435.06435.280.221.660.262.28
SDDSC182435.28435.580.30.170.000.17
SDDSC182435.58435.880.30.650.020.69
SDDSC182435.88436.040.160.490.541.78
SDDSC182436.04436.30.264.791.528.42
SDDSC182436.3436.510.218.843.2216.54
SDDSC182436.51437.290.780.070.020.12
SDDSC182437.29437.580.290.060.030.14
SDDSC182437.58437.820.241.662.878.52
SDDSC182437.82438.140.320.080.030.15
SDDSC182438.14438.250.110.570.080.76
SDDSC182438.25438.480.230.10.010.12
SDDSC182438.48438.630.150.450.511.67
SDDSC182438.63439.310.680.060.020.10
SDDSC182439.78439.940.160.220.020.26
SDDSC182439.94440.420.480.020.060.16
SDDSC182440.42440.670.250.220.180.65
SDDSC182441.08441.180.10.370.521.61
SDDSC182441.18441.330.150.820.081.02
SDDSC182442.59442.740.1527.40.2027.88
SDDSC182442.74442.880.140.470.160.85
SDDSC182443.26443.450.190.390.130.70
SDDSC182443.45443.970.521.30.211.80
SDDSC182443.97444.180.21186.8134.28
SDDSC182444.18444.350.170.280.060.42
SDDSC182444.35444.480.138.393.1615.94
SDDSC182444.48444.630.1584.117.50125.93
SDDSC182444.63445.140.510.220.060.35
SDDSC182445.14445.520.380.20.351.04
SDDSC182445.52446.591.070.340.140.67
SDDSC182447.16447.910.750.080.040.16
SDDSC182447.91448.270.367.480.889.58
SDDSC182448.27449.421.150.190.100.42
SDDSC182449.42449.960.540.490.461.59
SDDSC182449.96450.520.560.080.060.23
SDDSC182450.52450.690.171.641.425.03
SDDSC182450.69451.430.740.10.050.21
SDDSC182451.43451.630.20.310.381.22
SDDSC182451.63451.850.222.481.435.90
SDDSC182451.85452.210.360.980.101.22
SDDSC182452.21452.810.62.950.033.03
SDDSC182453.64454.20.560.120.010.14
SDDSC182454.44455.120.680.420.010.44
SDDSC182455.12455.550.436.730.026.78
SDDSC182455.55455.990.440.120.010.13
SDDSC182455.99456.130.140.20.010.22
SDDSC182456.13456.230.10.710.010.74
SDDSC182458.3458.590.290.20.010.21
SDDSC182459.75459.890.140.530.020.57
SDDSC182460.76460.90.142.21.225.12
SDDSC182461.7461.820.120.120.100.35
SDDSC182462.5462.60.10.581.955.24
SDDSC182472.44730.60.240.010.25
SDDSC182474.5474.80.30.060.020.10
SDDSC182474.84750.23.640.765.46
SDDSC182476.84770.20.871.544.55
SDDSC18247847910.120.010.14
SDDSC182479479.40.40.150.010.17
SDDSC182479.4479.60.20.090.010.12
SDDSC182479.6479.80.20.620.060.76
SDDSC182480.8481.40.60.340.010.37
SDDSC182481.4481.90.50.110.010.13
SDDSC182482.8483.20.42.170.002.18
SDDSC182483.6483.90.30.410.070.57
SDDSC182483.9484.50.61.560.653.11
SDDSC182484.54850.52.490.042.60
SDDSC182485485.20.20.750.060.90
SDDSC182485.2485.40.22.20.242.77
SDDSC182486.2486.40.20.640.642.17
SDDSC182487.2487.740.540.180.190.63
SDDSC182487.74488.580.840.130.020.17
SDDSC182488.58488.680.10.690.341.50
SDDSC182488.68489.130.450.090.030.17
SDDSC182489.13489.360.230.110.010.12
SDDSC182489.87490.710.840.190.010.21
SDDSC182491.44492.180.740.070.010.10
SDDSC182492.18492.330.157.15.7320.79
SDDSC182494.45494.650.20.160.000.17
SDDSC182500.09500.240.150.890.020.94
SDDSC182501.54501.640.10.240.010.26
SDDSC182502.15502.250.10.070.220.60
SDDSC182502.25502.740.490.750.652.30
SDDSC182502.74502.890.150.310.631.82
SDDSC182502.89503.20.310.50.010.53
SDDSC182513.97514.630.660.10.010.12
SDDSC182515.97516.60.630.260.010.29
SDDSC182518518.290.290.10.010.11
SDDSC182518.66519.540.880.110.000.12
SDDSC182519.54519.640.10.140.000.15
SDDSC182519.645200.360.090.000.10

 

JORC Table 1

Section 1 Sampling Techniques and Data

CriteriaJORC Code explanationCommentary
Sampling techniques
  • Nature and quality of sampling (e.g. cut channels, random chips, or specific specialised industry standard measurement tools appropriate to the minerals under investigation, such as down hole gamma sondes, or handheld XRF instruments, etc.). These examples should not be taken as limiting the broad meaning of sampling.
  • Include reference to measures taken to ensure sample representivity and the appropriate calibration of any measurement tools or systems used.
  • Aspects of the determination of mineralization that are Material to the Public Report.
  • In cases where 'industry standard' work has been done this would be relatively simple (e.g. 'reverse circulation drilling was used to obtain 1 m samples from which 3 kg was pulverised to produce a 30 g charge for fire assay'). In other cases more explanation may be required, such as where there is coarse gold that has inherent sampling problems. Unusual commodities or mineralization types (e.g. submarine nodules) may warrant disclosure of detailed information.
  • Sampling has been conducted on drill core (half core for >90% and quarter core for check samples), grab samples (field samples of in-situ bedrock and boulders; including duplicate samples), trench samples (rock chips, including duplicates) and soil samples (including duplicate samples).
    Locations of field samples were obtained by using a GPS, generally to an accuracy of within 5 metres. Drill hole and trench locations have been confirmed to <1 metre using a differential GPS.
    Samples locations have also been verified by plotting locations on the high-resolution Lidar maps
  • Drill core is marked for cutting and cut using an automated diamond saw used by Company staff in Kilmore.
    Samples are bagged at the core saw and transported to the Bendigo On Site Laboratory for assay.
    At On Site samples are crushed using a jaw crusher combined with a rotary splitter and a 1 kg split is separated for pulverizing (LM5) and assay.
  • Standard fire assay techniques are used for gold assay on a 30 g charge by experienced staff (used to dealing with high sulfide and stibnite-rich charges). On Site gold method by fire assay code PE01S.
  • Screen fire assay is used to understand gold grain-size distribution where coarse gold is evident.
  • ICP-OES is used to analyse the aqua regia digested pulp for an additional 12 elements (method BM011) and over-range antimony is measured using flame AAS (method known as B050).
  • Soil samples were sieved in the field and an 80 mesh sample bagged and transported to ALS Global laboratories in Brisbane for super-low level gold analysis on a 50 g samples by method ST44 (using aqua regia and ICP-MS).
  • Grab and rock chip samples are generally submitted to On Site Laboratories for standard fire assay and 12 element ICP-OES as described above.
Drilling techniques
  • Drill type (e.g. core, reverse circulation, open-hole hammer, rotary air blast, auger, Bangka, sonic, etc.) and details (e.g. core diametre, triple or standard tube, depth of diamond tails, face-sampling bit or other type, whether core is oriented and if so, by what method, etc.).
  • HQ or NQ diametre diamond drill core, oriented using Axis Champ orientation tool with the orientation line marked on the base of the drill core by the driller/offsider.
    A standard 3 metre core barrel has been found to be most effective in both the hard and soft rocks in the project.
Drill sample recovery
  • Method of recording and assessing core and chip sample recoveries and results assessed.
  • Measures taken to maximise sample recovery and ensure representative nature of the samples.
  • Whether a relationship exists between sample recovery and grade and whether sample bias may have occurred due to preferential loss/gain of fine/coarse material.
  • Core recoveries were maximised using HQ or NQ diamond drill core with careful control over water pressure to maintain soft-rock integrity and prevent loss of fines from soft drill core. Recoveries are determined on a metre-by-metre basis in the core shed using a tape measure against marked up drill core checking against driller's core blocks.
  • Plots of grade versus recovery and RQD (described below) show no trends relating to loss of drill core, or fines.
Logging
  • Whether core and chip samples have been geologically and geotechnically logged to a level of detail to support appropriate Mineral Resource estimation, mining studies and metallurgical studies.
  • Whether logging is qualitative or quantitative in nature. Core (or costean, channel, etc.) photography.
  • The total length and percentage of the relevant intersections logged.
  • Geotechnical logging of the drill core takes place on racks in the company core shed.
    Core orientations marked at the drill rig are checked for consistency, and base of core orientation lines are marked on core where two or more orientations match within 10 degrees.
    Core recoveries are measured for each metre
    RQD measurements (cumulative quantity of core sticks > 10 cm in a metre) are made on a metre-by-metre basis.
  • Each tray of drill core is photographed (wet and dry) after it is fully marked up for sampling and cutting.
  • The ½ core cutting line is placed approximately 10 degrees above the orientation line so the orientation line is retained in the core tray for future work.
  • Geological logging of drill core includes the following parametres:
    Rock types, lithology
    Alteration
    Structural information (orientations of veins, bedding, fractures using standard alpha-beta measurements from orientation line; or, in the case of un-oriented parts of the core, the alpha angles are measured)
    Veining (quartz, carbonate, stibnite)
    Key minerals (visible under hand lens, e.g. gold, stibnite)
  • 100% of drill core is logged for all components described above into the company MX logging database.
  • Logging is fully quantitative, although the description of lithology and alteration relies on visible observations by trained geologists.
  • Each tray of drill core is photographed (wet and dry) after it is fully marked up for sampling and cutting.
  • Logging is considered to be at an appropriate quantitative standard to use in future studies.
Sub-sampling techniques and sample preparation
  • If core, whether cut or sawn and whether quarter, half or all core taken.
  • If non-core, whether riffled, tube sampled, rotary split, etc. and whether sampled wet or dry.
  • For all sample types, the nature, quality and appropriateness of the sample preparation technique.
  • Quality control procedures adopted for all sub-sampling stages to maximise representivity of samples.
  • Measures taken to ensure that the sampling is representative of the in situ material collected, including for instance results for field duplicate/second-half sampling.
  • Whether sample sizes are appropriate to the grain size of the material being sampled.
  • Drill core is typically half-core sampled using an Almonte core saw. The drill core orientation line is retained.
  • Quarter core is used when taking sampling duplicates (termed FDUP in the database).
  • Sampling representivity is maximised by always taking the same side of the drill core (whenever oriented), and consistently drawing a cut line on the core where orientation is not possible. The field technician draws these lines.
  • Sample sizes are maximised for coarse gold by using half core, and using quarter core and half core splits (laboratory duplicates) allows an estimation of nugget effect.
  • In mineralized rock the company uses approximately 10% of ¼ core duplicates, certified reference materials (suitable OREAS materials), laboratory sample duplicates and instrument repeats.
  • In the soil sampling program duplicates were obtained every 20th sample and the laboratory inserted low-level gold standards regularly into the sample flow.
Quality of assay data and laboratory tests
  • The nature, quality and appropriateness of the assaying and laboratory procedures used and whether the technique is considered partial or total.
  • For geophysical tools, spectrometres, handheld XRF instruments, etc., the parametres used in determining the analysis including instrument make and model, reading times, calibrations factors applied and their derivation, etc.
  • Nature of quality control procedures adopted (e.g. standards, blanks, duplicates, external laboratory checks) and whether acceptable levels of accuracy (i.e. lack of bias) and precision have been established.
  • The fire assay technique for gold used by On Site is a globally recognised method, and over-range follow-ups including gravimetric finish and screen fire assay are standard. Of significance at the On Site laboratory is the presence of fire assay personnel who are experienced in dealing with high sulfide charges (especially those with high stibnite contents) - this substantially reduces the risk of in accurate reporting in complex sulfide-gold charges.
  • Where screen fire assay is used, this assay will be reported instead of the original fire assay.
  • The ICP-OES technique is a standard analytical technique for assessing elemental concentrations. The digest used (aqua regia) is excellent for the dissolution of sulfides (in this case generally stibnite, pyrite and trace arsenopyrite), but other silicate-hosted elements, in particular vanadium (V), may only be partially dissolved. These silicate-hosted elements are not important in the determination of the quantity of gold, antimony, arsenic or sulphur.
  • A portable XRF has been used in a qualitative manner on drill core to ensure appropriate core samples have been taken (no pXRF data are reported or included in the MX database).
  • Acceptable levels of accuracy and precision have been established using the following methods
    ¼ duplicates - half core is split into quarters and given separate sample numbers (commonly in mineralized core) - low to medium gold grades indicate strong correlation, dropping as the gold grade increases over 40 g/t Au.
    Blanks - blanks are inserted after visible gold and in strongly mineralized rocks to confirm that the crushing and pulping are not affected by gold smearing onto the crusher and LM5 swing mill surfaces. Results are excellent, generally below detection limit and a single sample at 0.03 g/t Au.
    Certified Reference Materials - OREAS CRMs have been used throughout the project including blanks, low (<1 g/t Au), medium (up to 5 g/t Au) and high-grade gold samples (> 5 g/t Au). Results are automatically checked on data import into the MX database to fall within 2 standard deviations of the expected value.
    Laboratory splits - On Site conducts splits of both coarse crush and pulp duplicates as quality control and reports all data. In particular, high Au samples have the most repeats.
    Laboratory CRMs - On Site regularly inserts their own CRM materials into the process flow and reports all data
    Laboratory precision - duplicate measurements of solutions (both Au from fire assay and other elements from the aqua regia digests) are made regularly by the laboratory and reported.
  • Accuracy and precision have been determined carefully by using the sampling and measurement techniques described above during the sampling (accuracy) and laboratory (accuracy and precision) stages of the analysis.
  • Soil sample company duplicates and laboratory certified reference materials all fall within expected ranges.
Verification of sampling and assaying
  • The verification of significant intersections by either independent or alternative company personnel.
  • The use of twinned holes.
  • Documentation of primary data, data entry procedures, data verification, data storage (physical and electronic) protocols.
  • Discuss any adjustment to assay data.
  • The Independent Geologist has visited Sunday Creek drill sites and inspected drill core held at the Kilmore core shed.
  • Visual inspection of drill intersections matches both the geological descriptions in the database and the expected assay data (for example, gold and stibnite visible in drill core is matched by high Au and Sb results in assays).
  • In addition, on receipt of results Company geologists assess the gold, antimony and arsenic results to verify that the intersections returned expected data.
  • The electronic data storage in the MX database is of a high standard. Primary logging data are entered directly by the geologists and field technicians and the assay data are electronically matched against sample number on return from the laboratory.
  • Certified reference materials, ¼ core field duplicates (FDUP), laboratory splits and duplicates and instrument repeats are all recorded in the database.
  • Exports of data include all primary data, from hole SDDSC077B onwards after discussion with SRK Consulting. Prior to this gold was averaged across primary, field and lab duplicates.
  • Adjustments to assay data are recorded by MX, and none are present (or required).
  • Twinned drill holes are not available at this stage of the project.
Location of data points
  • Accuracy and quality of surveys used to locate drill holes (collar and down-hole surveys), trenches, mine workings and other locations used in Mineral Resource estimation.
  • Specification of the grid system used.
  • Quality and adequacy of topographic control.
  • Differential GPS used to locate drill collars, trenches and some workings
  • Standard GPS for some field locations (grab and soils samples), verified against Lidar data.
  • The grid system used throughout is Geocentric datum of Australia 1994; Map Grid Zone 55 (GDA94_Z55), also referred to as ELSG 28355. Reported azimuths also relate to MGA55 (GDA94_Z55).
  • Topographic control is excellent owing to sub 10 cm accuracy from Lidar data.
Data spacing and distribution
  • Data spacing for reporting of Exploration Results.
  • Whether the data spacing and distribution is sufficient to establish the degree of geological and grade continuity appropriate for the Mineral Resource and Ore Reserve estimation procedure(s) and classifications applied.
  • Whether sample compositing has been applied.
  • The data spacing is suitable for reporting of exploration results - evidence for this is based on the improving predictability of high-grade gold-antimony intersections.
  • At this time, the data spacing and distribution are not sufficient for the reporting of Mineral Resource Estimates. This however may change as knowledge of grade controls increase with future drill programs.
  • Samples have been composited to a 1 g/t AuEq over 2.0 m width for lower grades and 5 g/t AuEq over 1.0 m width for higher grades in table 3. All individual assays above 0.1 g/t AuEq have been reported to two decimal places with no compositing in table 4.
Orientation of data in relation to geological structure
  • Whether the orientation of sampling achieves unbiased sampling of possible structures and the extent to which this is known, considering the deposit type.
  • If the relationship between the drilling orientation and the orientation of key mineralized structures is considered to have introduced a sampling bias, this should be assessed and reported if material.
  • The true thickness of the mineralized intervals reported are interpreted to be approximately 60-70% of the sampled thickness.
  • Drilling is oriented in an optimum direction when considering the combination of host rock orientation and apparent vein control on gold and antimony grade.
    The steep nature of some of the veins may give increases in apparent thickness of some intersections, but more drilling is required to quantify.
  • A sampling bias is not evident from the data collected to date (drill holes cut across mineralized structures at a moderate angle).
Sample security
  • The measures taken to ensure sample security.
  • Drill core is delivered to the Kilmore core logging shed by either the drill contractor or company field staff. Samples are marked up and cut by company staff at the Kilmore core shed, in an automated diamond saw and bagged before loaded onto strapped secured pallets and trucked by company staff to Bendigo for submission to the laboratory. There is no evidence in any stage of the process, or in the data for any sample security issues.
Audits or reviews
  • The results of any audits or reviews of sampling techniques and data.
  • Continuous monitoring of CRM results, blanks and duplicates is undertaken by geologists and the company data geologist. Mr Michael Hudson for SXG has the orientation, logging and assay data.

 

Section 2 Reporting of Exploration Results

CriteriaJORC Code explanationCommentary
Mineral tenement
and land tenure
status
  • Type, reference name/number, location and ownership including agreements or material issues with third parties such as joint ventures, partnerships, overriding royalties, native title interests, historical sites, wilderness or national park and environmental settings.
  • The security of the tenure held at the time of reporting along with any known impediments to obtaining a licence to operate in the area.
  • The Sunday Creek Goldfield, containing the Clonbinane Project, is covered by the Retention Licence RL 6040 and is surrounded by Exploration Licence EL6163 and Exploration Licence EL7232. All the licences are 100% held by Clonbinane Goldfield Pty Ltd, a wholly owned subsidiary company of Southern Cross Gold Ltd.
Exploration done by
other parties
  • Acknowledgment and appraisal of exploration by other parties.
  • The main historical prospect within the Sunday Creek project is the Clonbinane prospect, a high level orogenic (or epizonal) Fosterville-style deposit. Small scale mining has been undertaken in the project area since the 1880s continuing through to the early 1900s. Historical production occurred with multiple small shafts and alluvial workings across the Clonbinane Goldfield permits. Production of note occurred at the Clonbinane area with total production being reported as 41,000 oz gold at a grade of 33 g/t gold (Leggo and Holdsworth, 2013)
  • Work in and nearby to the Sunday Creek Project area by previous explorers typically focused on finding bulk, shallow deposits. Beadell Resources were the first to drill deeper targets and Southern Cross have continued their work in the Sunday Creek Project area.
  • EL54 - Eastern Prospectors Pty Ltd
Rock chip sampling around Christina, Apollo and Golden Dyke mines.
Rock chip sampling down the Christina mine shaft. Resistivity survey over the Golden Dyke. Five diamond drill holes around Christina, two of which have assays.
  • ELs 872 & 975 - CRA Exploration Pty Ltd
Exploration focused on finding low grade, high tonnage deposits. The tenements were relinquished after the area was found to be prospective but not economic.
Stream sediment samples around the Golden Dyke and Reedy Creek areas. Results were better around the Golden Dyke. 45 dump samples around Golden Dyke old workings showed good correlation between gold, arsenic and antimony.
Soil samples over the Golden Dyke to define boundaries of dyke and mineralization. Two costeans parallel to the Golden Dyke targeting soil anomalies. Costeans since rehabilitated by SXG.
  • ELs 827 & 1520 - BHP Minerals Ltd
Exploration targeting open cut gold mineralization peripheral to SXG tenements.
  • ELs 1534, 1603 & 3129 - Ausminde Holdings Pty Ltd
Targeting shallow, low grade gold. Trenching around the Golden Dyke prospect and results interpreted along with CRAs costeans. 29 RC/Aircore holes totalling 959 m sunk into the Apollo, Rising Sun and Golden Dyke target areas.
  • ELs 4460 & 4987 - Beadell Resources Ltd
ELs 4460 and 4497 were granted to Beadell Resources in November 2007. Beadell successfully drilled 30 RC holes, including second diamond tail holes in the Golden Dyke/Apollo target areas.
  • Both tenements were 100% acquired by Auminco Goldfields Pty Ltd in late 2012 and combined into one tenement EL4987.
  • Nagambie Resources Ltd purchased Auminco Goldfields in July 2014. EL4987 expired late 2015, during which time Nagambie Resources applied for a retention licence (RL6040) covering three square kilometres over the Sunday Creek Goldfield. RL6040 was granted July 2017.
  • Clonbinane Gold Field Pty Ltd was purchased by Mawson Gold Ltd in February 2020.
Mawson drilled 30 holes for 6,928 m and made the first discoveries to depth.
Geology
  • Deposit type, geological setting and style of
  • mineralization.
  • Refer to the description in the main body of the release.
Drill hole Information
  • A summary of all information material to the understanding of the exploration results including a tabulation of the following
  • information for all Material drill holes:
    • easting and northing of the drill hole collar
    • elevation or RL (Reduced Level - elevation above sea level in metres) of the drill hole collar
    • dip and azimuth of the hole
    • down hole length and interception depth
    • hole length.
  • If the exclusion of this information is justified on the basis that the information is not Material and this exclusion does not detract from the understanding of the report, the Competent Person should clearly explain why this is the case.
  • Refer to appendices
Data aggregation methods
  • In reporting Exploration Results, weighting averaging techniques, maximum and/or minimum grade truncations (e.g. cutting of high-grades) and cut-off grades are usually Material and should be stated.
  • Where aggregate intercepts incorporate short lengths of high-grade results and longer lengths of low-grade results, the procedure used for such aggregation should be stated and some typical examples of such aggregations should be shown in detail.
  • The assumptions used for any reporting of metal equivalent values should be clearly stated.
  • See "Further Information" and "Metal Equivalent Calculation" in main text of press release.
Relationship
between
mineralization
widths and
intercept lengths
  • These relationships are particularly important in the reporting of Exploration Results.
  • If the geometry of the mineralization with respect to the drill hole angle is known, its nature should be reported.
  • If it is not known and only the down hole lengths are reported, there should be a clear statement to this effect (e.g 'down hole
  • length, true width not known').
  • See reporting of true widths in the body of the press release.
Diagrams
  • Appropriate maps and sections (with scales) and tabulations of intercepts should be included for any significant discovery being reported. These should include, but not be limited to a plan view of drill hole collar locations and appropriate sectional views.
  • The results of the diamond drilling are displayed in the figures in the announcement.
Balanced reporting
  • Where comprehensive reporting of all Exploration Results is not practicable, representative reporting of both low and high-grades and/or widths should be practiced to avoid misleading reporting of Exploration Results.
  • All results above 0.1 g/t Au have been tabulated in this announcement. The results are considered representative with no intended bias.
  • Core loss, where material, is disclosed in tabulated drill intersections.
Other substantive exploration data
  • Other exploration data, if meaningful and material, should be reported including (but not limited to): geological observations; geophysical survey results; geochemical survey results; bulk samples - size and method of treatment; metallurgical test results; bulk density, groundwater, geotechnical and rock characteristics; potential deleterious or contaminating substances.
  • Preliminary testing was reported in January 11, 2024. This established the general metallurgical test procedure for samples from the Sunday Creek deposits and demonstrated the basis for confidence in establishing prospects for economic recovery of contained gold and antimony to three separate products:
    • Metallic gold product by gravity recovery
    • Antimony-gold flotation concentrate
    • Pyrite-arsenopyrite-gold flotation concentrate
  • Testing has now been expanded to include samples from additional zones of the mineral deposits and to refine metallurgical processes. The aim was to improve aspects of antimony concentrate production, maximise gold recovery to a high-grade metallic product, and to further investigate the nature of gold occurrence.
  • The work, conducted by ALS Burnie Laboratories, focused on:
    • Improving selectivity between sulphide minerals in the antimony flotation stage whilst maintaining high overall gold recovery.
    • Further processing of the flotation concentrates, to assess the metallurgical response of contained gold.
    • Mineralogical examination of selected product samples.
  • It was demonstrated that, with appropriate process conditions, high antimony and gold recovery could be maintained whilst rejecting arsenic and iron sulphides in the first flotation stage. The antimony concentrate produced (~50% Sb, <0.2% As) is deemed to be attractive to the smelter market.
  • Recovery of antimony to concentrate varied with feed type, and ranged from 83% to 93% for the samples tested from the antimony rich zones.
  • Additional metallic gold was recovered from the flotation concentrate by gravity separation.
  • The gold grade of the concentrate is a function of the proportion of feed gold associated with arsenic-iron sulphides, the ratio of gold to antimony in the feed, the gold recovered to the metallic gold product, and the flotation rate of gold in the first flotation stage.
  • High overall gold recovery was achieved with all samples tested.
  • Further Work
    • Additional characterization testing across deposit zones
    • Locked cycle testing to confirm overall recoveries
    • Multi-stage cleaning optimization to maximize concentrate quality
    • Pilot plant evaluation of larger samples
    • Process plant design studies targeting Q1 2027 completion
Further work
  • The nature and scale of planned further work (e.g. tests for lateral extensions or depth extensions or large-scale step-out drilling).
  • Diagrams clearly highlighting the areas of possible extensions, including the main geological interpretations and future drilling areas, provided this information is not commercially sensitive.
  • The Company has stated it will drill 200,000 m through 2025 to Q1 2027.
  • See diagrams in presentation which highlight current and future drill plans.

 

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/271547

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