Southern Cross Gold Consolidated Ltd (TSX: SXGC) (ASX: SX2) (OTCQX: SXGCF) (FSE: MV3) announces results from SDDSC184A at the Golden Dyke prospect, at the 100%-owned Sunday Creek Gold-Antimony Project in Victoria (Figures 1 to 6). Best results included 9.2 m @ 34.6 g/t AuEq (32.2 g/t Au, 1.0% Sb) from 604.8 m including 0.2 m @ 1,003.6 g/t AuEq (986.0 g/t Au, 7.4% Sb) from 604.8 m.

Five High Level Takeaways:

1. SDDSC184A delivered the two highest individual gold grades ever recorded at Golden Dyke – 986 g/t Au and 416 g/t Au, both in altered sediment, demonstrating exceptional grade potential that is comparable to Rising Sun.
2. The hole intersected 9.2 metres @ 34.6 g/t AuEq (32.2 g/t Au, 1.0% Sb), with the cumulative mineralized zone spanning 45.6 m @ 9.5 g/t AuEq (8.8 g/t Au, 0.3% Sb) (no lower cut), confirming Golden Dyke as a robust, high-grade system.
3. Systematic infill drilling extended mineralization by 20 m along strike on the GD65-70-75 vein sets and 65 m downdip on GD60 from previous drilling, demonstrating consistent grade continuity and system expansion (Figure 4).
4. Golden Dyke exhibits the same high-grade characteristics as Rising Sun – very high-grade intercepts, frequent visible gold, and elevated antimony but has had significantly less drilling with only 35 m of strike defined and untested to both the north and the south.
5. Results bring project totals to 72 intersections >100 g/t AuEq x m and 79 intersections >50 to 100 g/t AuEq x m 

Michael Hudson, President & CEO states: “SDDSC184A has delivered the two highest individual gold grades ever recorded in the Golden Dyke system, 986 g/t Au and 416 g/t Au, both occurring within altered sediment. These exceptional grade intercepts, combined with the 9.2 m @ 34.6 g/t AuEq, demonstrate that Golden Dyke hosts the same high-grade tenor we’ve consistently seen at Rising Sun.

“The systematic infill drilling is proving exactly what we anticipated. We’ve extended the GD65-70-75 vein set by 20 m along strike with results that mirror those from previously reported holes, and we’ve added a 65 m downdip extension to vein set GD60. The cumulative intersection across the entire Golden Dyke mineralized zone totals approximately 45.6 m @ 9.5 g/t AuEq (8.8 g/t Au, 0.3% Sb) (no lower cut). This is a robust system with substantial width and grade.

“What’s particularly significant is how sparsely drilled Golden Dyke remains compared to Rising Sun. The high-grade sections (“cores”) of the vein sets we’re defining span 35 m of strike and remain completely open to both the north and south, we simply haven’t drilled there yet. This is emerging as part of a continuous mineralized system connecting to Rising Sun, with the same characteristics: ultra high-grades, frequent visible gold, and elevated antimony.

“With 48 holes currently in the system and our ten rigs continuing to deliver, investors should expect a significant wave of drill results before year end from the accelerating Sunday Creek story.”

For Those Who Like the Details – Highlights: 

1. Two Highest Gold Grades from Golden Dyke: Individual sample assays of 0.24 m @ 986 g/t Au (7.4% Sb) and 0.20 m @ 416 g/t Au represent the highest gold grades ever intersected in the Golden Dyke system, both occurring in altered sediment – true width is approximately 40% to 50% of the intersection width.
2. Exceptional Composite Intercept: 9.2 m @ 34.6 g/t AuEq (32.2 g/t Au, 1.0% Sb) from 604.8 m, including multiple high-grade intervals: 0.2 m @ 1,003.6 g/t AuEq, 0.2 m @ 88.4 g/t AuEq, and 0.2 m @ 29.5 g/t AuEq.
3. System-Scale Mineralized Envelope: Cumulative intersection across the entire mineralized zone totals 45.6 m @ 9.5 g/t AuEq (8.8 g/t Au, 0.3% Sb) (no lower cut), demonstrating substantial width and consistent grade tenor across multiple vein sets.
4. Four Distinct Vein Sets Confirmed: SDDSC184A intercepted four separate vein structures within Golden Dyke, plus two confirmed high-grade cores within the GD65 and GD75 vein sets, adding to the density of the mineralized system (Figure 4).
5. Significant Strike Extension: 20 m along-strike extension of the GD65-70-75 vein sets confirmed between drill holes SDDSC141 to SDDSC184A (Figure 4) with results maintaining consistent high-grade tenor over approximately 141-degree strike orientation.
6. Substantial Downdip Growth: 65 m vertical extension on the GD60 vein set demonstrates depth continuity of mineralization, with high-grade cores now defined over 35 m of strike length and remaining completely open to exploration in both directions.
7. Rising Sun-Style Characteristics Confirmed: Golden Dyke exhibits identical geological signatures to Rising Sun – high-grade gold intercepts, frequent visible gold observations, elevated antimony approaching pure stibnite levels, and discrete high-grade cores within broader mineralized halos.
8. Sparse Drilling Equals Major Upside: Despite delivering these significant results, Golden Dyke remains significantly under-drilled compared to Rising Sun, with the current 35 m strike length representing minimum extent only. No drilling has tested extensions to the north or south, indicating substantial exploration potential.

Drill Hole Discussion

SDDS184 & SDDSC184A Series

The original hole (SDDSC184) was abandoned at 70 m due to it deviating off plan. A redrill from collar, SDDSC184A, was completed to maintain the planned infill spacing in the Golden Dyke system. SDDSC184A was drilled east to west, running sub-parallel to the main dyke and alteration zone but at a high angle to the mineralization and vein orientations.

SDDSC184A intercepted four distinct vein sets within the Golden Dyke system and confirmed two exceptional high-grade cores within the GD65 and GD75 vein structures. The hole successfully extended mineralization along strike by 20 m on the GD65-70-75 corridor and delivered a 65 m downdip extension to GD60.

Key Highlights from SDDSC184A:

Highlights include a peak individual sample grade of 0.24 m @ 986 g/t Au and 7.37% Sb from 604.82 m and 0.20 m at 416 g/t Au and 0.1% Sb from 579.6 m representing the two highest individual gold grades intersected in the Golden Dyke system to date and within the altered sediment portion of the mineralized system. The program has also successfully extended mineralization, including a 65 m downdip extension to GD60 outside the planned infill area and a 20 m along-strike extension of vein sets GD65-70-75 (2.0 m @ 43.2 g/t AuEq (43.1 g/t Au, 0.0% Sb) from 579.6 m and 9.2 m @ 34.6 g/t AuEq (32.2 g/t Au, 1.0% Sb) from 604.8 m), consistent with results from SDDSC141 which previously reported on November 28 2024: 6.3 m @ 5.0 g/t AuEq (4.8 g/t Au, 0.1% Sb) from 613.0 m and 2.8 m @ 11.7 g/t AuEq (10.0 g/t Au, 0.7% Sb) from 621.3 m, including: 0.1 m @ 188.2 g/t AuEq (188.0 g/t Au, 0.1% Sb) from 621.3 m. These results continue to demonstrate the robust high-grade nature of the Golden Dyke vein system and support ongoing resource expansion efforts.

Drill hole highlights include:

• 3.6 m @ 3.8 g/t AuEq (2.3 g/t Au, 0.6% Sb) from 160.0 m, including:
  • 1.3 m @ 8.1 g/t AuEq (4.4 g/t Au, 1.6% Sb) from 162.0 m
• 2.0 m @ 43.2 g/t AuEq (43.1 g/t Au, 0.0% Sb) from 579.6 m, including:
  • 0.2 m @ 416.2 g/t AuEq (416.0 g/t Au, 0.1% Sb) from 579.6 m
• 9.2 m @ 34.6 g/t AuEq (32.2 g/t Au, 1.0% Sb) from 604.8 m, including:
  • 0.2 m @ 1,003.6 g/t AuEq (986.0 g/t Au, 7.4% Sb) from 604.8 m
  • 0.2 m @ 29.5 g/t AuEq (7.3 g/t Au, 9.3% Sb) from 608.7 m
  • 0.2 m @ 88.4 g/t AuEq (87.2 g/t Au, 0.5% Sb) from 613.8 m

The emerging drill results demonstrate consistent similarities to the Rising Sun deposit in terms of grade tenor and mineralization style. Golden Dyke exhibits the same characteristics observed at Rising Sun: high-grade tenor with high-grade intercepts, frequent visible gold occurrence, and elevated antimony values. The critical distinction is that Golden Dyke has considerably less drilling than Rising Sun.

The high-grade cores of vein sets are now defined over 35 m of strike length at Golden Dyke and remain open to both the north and south with minimal drilling constraining the system boundaries (Figure 4). The consistency of results and the emerging strike length support the interpretation that Golden Dyke may be part of a continuous mineralized system connecting to Rising Sun. The sparse drill coverage to date suggests significant scope for exploration expansion with continued systematic drilling.

With increased logging and assay capacity now in place, the Company expects to deliver a significant number of additional drill hole results before year-end, maintaining continuous news flow as the Sunday Creek story continues to unfold.

Pending Results and Update

Results are pending from 48 holes currently being processed and analyzed including ten holes that are actively being drilled and four abandoned holes (Figure 2). The Company continues its 200,000 m drill program through Q1 2027. Ten drill rigs are currently operational on the project.

About Sunday Creek

The Sunday Creek epizonal-style gold project is located 60 km north of Melbourne within 16,900 hectares 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. 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, 219 drill holes for 98,061.13 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 20 holes for 2,197.77 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-two (72) >100 g/t AuEq x m and seventy-nine (79) >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 dyke/sediment (“rails of the ladder”) from Christina to Apollo prospects, of which approximately 620 m has been more intensively drill tested (Rising Sun to Apollo). At least 93 ‘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, otherwise they are interpreted to be approximately 40% to 50% 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 72 intersections exceeding 100 g/t AuEq x m from just 103.6 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 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.

Figure 1: Sunday Creek plan view showing selected results from holes SDDSC184 and SDDSC184A reported here (dark blue highlighted box, black trace), with selected prior reported drill holes.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/11541/274925_9bed7eac84338818_004full.jpg

Figure 2: Sunday Creek plan view showing selected drillhole traces from holes SDDSC184 and SDDSC184A 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 vein sets. Showing holes SDDSC184 and SDDSC184A 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.

To view an enhanced version of this graphic, please visit:
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Figure 4: Sunday Creek longitudinal section along line C-D, viewed looking east (strike 051°), showing high-grade mineralized intersections in the GD75 vein set. The outline of GD75 shown represents the minimum extent based on limited drilling to date. The vein set remains open and unconstrained by drilling to both the north and south, demonstrating significant exploration potential.

To view an enhanced version of this graphic, please visit:
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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.

Table 2: Table of mineralized drill hole intersections reported from SDDSC184 and SDDSC184A 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.

Table 3: All individual assays reported from SDDSC184 and SDDSC184A reported here >0.1g/t AuEq. Individual assay and sample intervals are reported to two decimal places.