Southern Cross Gold Expands its Exploration Target Led by Strong Drilling Results

Southern Cross Gold Consolidated Ltd (ASX: SX2)

Southern Cross Gold Consolidated Ltd (ASX: SX2) has announced on 4 August 2026, stating an update on the exploration target for the 100%-owned Sunday Creek Gold-Antimony Project, Australia.

Exploration target update

The new exploration target ranges contain 33.0 to 4.6 Moz AuEq at grades of 8.9 to 12.1 g/t AuEq across 10.4 to 11.9 million tonnes. This new target now includes five prospects instead of three, which includes Christina, Golden Dyke, Rising Sun, Apollo and Apollo East prospects. The company has also extended its strike length to over 1,500 metres compared to 1,020 metres earlier, supported by 125 vein set shapes constrained to diamond drilling data.

The management highlights that their current exploration target is still 15% less than the 11km mineralised corridor. This means there is a significant exploration upside yet to be done, and the mineralisation remains open to depth beneath every prospect, with newly added Christina and Golden Dyke and Apollo East adding significantly.

The company highlights that most of the exploration target lies within a small crown land allotment, in which SXGC owns 1,392 hectares of freehold land. Approval required for exploration drilling to test the exploration target has all been obtained from both the Crown land and the freehold land. The company is now fully permitted under an existing work plan to construct a 1.2 km exploration decline, which remains under construction.

SX2 currently has 9 rigs turning on-site with two more testing regional targets up to 8 km away. They have 35 km of drill core in the shed and another 135 km of drilling planned through Q1 FY27, with every hole they drill either extending the existing or opening something new.

The company also stated that the stage 2 metallurgical test work reported previously in August 2025 with 144 samples has demonstrated successful selective floatation processing that produces a high-grade, low-arsenic antimony gold concentrate from the upper antimony-rich zones of the deposit, alongside an excellent recovery of gold. The overall gold recovery is 92.3%-95.6% across three product streams. The gravity gold concentrate recovered 37.3%-51.4% recovered gold, and the antimony gold concentrate recovered 28.8%-36.5% and 15.5%-18% gold recovered from the sulphide concentrate.

Drilling result update

Earlier, on 28 July 2026, the company had announced its results from five drill holes in the 100% owned Sunday Creek Gold-Antimony project. Drill hole SDDSC235 has intersected 481 metres of near-continuous mineralisation, linked with Christna and Golden Dyke prospects. The company has reported high-grade intercepts which include 0.8 m @ 141.0 g/t Au while extending mineralisation around 300 metres west into a previously untested area. SX2 currently operates with 11 drill rigs and 68 holes awaiting results as the company continues to expand the exploration.

Conclusion

Overall, these two announcements are very positive and strengthen the SX2 gold, progressing and advancing the gold-antimony project. SX2, with the expanded exploration target and strong upside of exploration in the future, and drilling results validate the geological model through high-grade mineralisation and system continuity. The company remains well positioned to expand the project, supported by an advanced drilling programme, a strong metallurgical outcome and a near-term positive catalyst. This makes the company a long-term value prospect to the investors.

(Source: Company Announcements)