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SXG - Southern Cross Gold

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Southern Cross Gold is a spin-out of TSX-listed Mawson Gold Limited which together with Southern Cross Gold has spent more than $6,000,000 acquiring and exploring a portfolio of gold properties in Victoria and polymetallic ground in Queensland.

The Company has interests in the following Projects:

Sunday Creek Project – 100% owned

The Sunday Creek Project comprises two granted exploration licences and one granted retention licence held by Clonbinane Goldfield Pty Ltd, a wholly owned subsidiary of the Company.

The Sunday Creek Project is a shallow orogenic (or epizonal) Fosterville-style deposit located 60 kilometres north of Melbourne and contained with 19,365 hectares of both granted and applied for exploration tenements.

The main historic workings at the Sunday Creek Project have been drill tested with encouraging results and remain open at depth and along strike demonstrating the Company’s belief that the Project has the potential for continuity of high-grade mineralisation.

Whroo Project – Option to earn up to 70%

The Whroo Project comprises six granted exploration licences and one granted retention licence held by Nagambie, and one exploration licence application by Mawson Victoria. The Company, via its wholly owned subsidiary Mawson Victoria, can earn up to a 70% interest in the Whroo Project.

The 14-kilometre long Whroo Project is one of the largest historic epizonal goldfields in Victoria located 130 kilometres north of Melbourne within 221 kilometres2 of exploration tenements. The Whroo Project consists of the Balaclava Hill area which contains thirteen named reefs from an open pit and 137 metre deep shaft, while shallow workings extend over the entire trend

Redcastle Project – 70% ownership

The Redcastle Project comprises three granted exploration licences. The main tenement is jointly held by both Mawson Victoria and Nagambie with two smaller tenements in Nagambie’s name. The Company, via its wholly owned subsidiary Mawson Victoria, has earnt a 70% interest in the Redcastle Project.

The Redcastle Project is located in central Victoria 120 kilometres north of Melbourne and 45 kilometres east of Bendigo. Redcastle is a shallow orogenic (or epizonal) Fosterville-style historic high-grade field held within a tenure area of 56.7 kilometres2 of granted exploration tenements. It is located 2 kilometres along strike from Mandalay Resources Ltd’s Costerfield mine exploration tenements and on a parallel north-south structure 24 kilometres east of Agnico Eagle’s Fosterville mine.
Fosterville and Costerfield are two of the world’s highest grade underground gold mines. Part of the northern margin of the tenement adjoins a Newmont Corporation exploration licence application.

Mt Isa – 100% owned

Southern Cross Gold has staked through its 100% owned Australian subsidiary, Mawson Queensland, seven exploration prospecting licences for 861 kilometres2 of granted exploration licences in the Cloncurry district of Mt Isa, over a combined 60 kilometres of strike, and is surrounded by South32 Ltd and Sandfire Resources Ltd.

It is anticipated that SXG will list on the ASX during May 2022.

 

Dona Ferentes

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Listing date11 May 2022 ; 10:30AM AEST ##
Company contact detailshttps://www.southerncrossgold.com.au/
Ph: +61 3 8630 3321
Principal ActivitiesMineral exploration
GICS industry groupTBA
Issue PriceAUD 0.20
Issue TypeOrdinary Fully Paid Shares
Security codeSXG
Capital to be Raised$10,000,000
Expected offer close date21 April 2022
UnderwriterNot underwritten. Baker Young Limited and Pulse Markets Pty Ltd (Joint Lead Managers).
 

Dona Ferentes

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and the winner is .....

listed on the 16th, ran along without an indication for 8 days, and now; up 230% today, from 20c Friday to close at day's high of 66.5c

Pleased to announce a spectacularly wide intersection of gold-antimony mineralisation grading 119.2 m @ 3.9 g/t AuEq from 106.8 m in drill hole SDDSC033 at the 100%-owned Sunday Creek Project in Victoria. The drill hole also intersected 8 high-grade intersections >30 g/t Au with assays up to 119.5 g/t Au
 

Dona Ferentes

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Top 10; Mawson appears to be unlisted (... and from the Ann. : Tight capital structure (60% escrow) )


Mawson Gold Ltd ............... 93,750,000 ... 60.0%
Lowell Resources Fund ....... 2,812,500 .... 1.8%
Deutsche Rohstoff AG ......... 2,000,000 .... 1.3%
Starwest Pty Ltd ................... 1,875,000 ..... 1.2%
HSBC Custody Nominees (Aust) ... 1,500,000... 1.0%
Miss Belinda Lees ............... 1,000,000.. 0.6%
Mr Craig Chapman ............. 1,000,000.. 0.6%
Rimsley Pty Ltd .................... 1,000,000.. 0.6%
Barclay Wells Ltd .................. 935,000 ... 0.6%
DNN Investments Ltd ........... 900,000 ... 0.6%

Southern Cross Gold holds strategic 10% of ASX listed Nagambie Resources (ASX:NAG)
• Now constructing a CIL 180,000 tpa gold processing plant
• Potential access for toll treatment
 
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Sean K

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and the winner is .....

listed on the 16th, ran along without an indication for 8 days, and now; up 230% today, from 20c Friday to close at day's high of 66.5c

Watched this the last couple of days. These hits are in the region of Fosterville which I think makes it very interesting. Not sure if the Fosterville Fault runs through their paddocks though.
 
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Warning. Every gold stock I've bought in the past 18months has gone down. I liked the recent drill results for SXG and I've bought a small parcel today in the opening dump. Note the warning, please.

I'm trading this for the medium term as I think they'll continue to post impressive drill results. However if I get a price spike that's too good to refuse (>1.00) I will sell half.
 
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Warning. Every gold stock I've bought in the past 18months has gone down. I liked the recent drill results for SXG and I've bought a small parcel today in the opening dump. Note the warning, please.

I'm trading this for the medium term as I think they'll continue to post impressive drill results. However if I get a price spike that's too good to refuse (>1.00) I will sell half.
Can relate to what you mentioned @peter2 about most (if not all) gold stocks being lower as compared with 12-18 month's ago.

Thanks for highlighting SXG as didn't know about it. Impressive drill result's for sure as kind of reminds me of my other gold stock SNG when it hit 2.5m @ 358g/t Au! & share price shot up 55% only to be much lower now (well below initial spike price month's ago).
 
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every knowledgable commentator (IMO that is) is suggesting that precious metals miners and junior miners especially are so undervalued in what looks like the commencement of a major bull run for PMs, took a small stake today
 
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every knowledgable commentator (IMO that is) is suggesting that precious metals miners and junior miners especially are so undervalued in what looks like the commencement of a major bull run for PMs, took a small stake today

Name One (1)

Capn  Chaza.gif
 

Sean K

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You'd think a gold MD would start with "Eureka" not "Bingo!" in his ramp.

Some good grades here, but most are pretty thin intersections.

Hard to tell what it looks like with the cartoon they have in the announcement as it's pretty crappy.

Overall, looks like a pretty continuous shoot of high grade ore.


Screen Shot 2022-08-09 at 9.51.16 am.png

Screen Shot 2022-08-09 at 9.52.16 am.png


Screen Shot 2022-08-09 at 9.57.00 am.png
 

Dona Ferentes

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SXG announces its highest grade intersection of gold-antimony mineralisation at the 100%-owned Sunday Creek Project in Victoria. Overall, drillhole SDDSC046 graded 21.5 m @ 15.0 g/t AuEq (12.2 g/t Au and 1.7% Sb) from 183.6 m, including 2.1 m @ 121.6 g/t AuEq (115.5 g/t Au and 3.9% Sb) with abundant visible gold and assays up to 380.6 g/t AuEq over 0.4m.

This is significant as it demonstrates the highest grades of gold seen on the project to date, on a new shoot at Rising Sun, in a 350 m step out west of the Apollo high-grade area
.

SXG’s Managing Director, Michael Hudson says,
The Sunday Creek system is developing on multiple fronts, as we continue to intersect extremely high grades of gold at the upper levels of the system (140 m vertically below surface) including 0.4 m @ 380.6 g/t AuEq.
This bodes well for the potential development of better grades continuing to develop at depth, as we have seen in similar and adjacent epizonal systems in Victoria, that are mined at some of the highest grades globally. These results continue to demonstrate that Sunday Creek is a significant exploration discovery in the renaissance of the Victorian goldfields"
 

greggles

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High grade gold intersections at the Sunday Creek Project announced this morning. Looks very encouraging.

85cb87dfc9d64f76b743b63cd12e5f62-0001-min.jpg



Results presented by Managing Director Michael Hudson.

 
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Bought speculative position in SXG after more massive drill results. I wonder if the punters will get as excited as last time. Need the POG to start rising also.

sxg1810.PNG
 

Sean K

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It's worth reading the full announcement here to get an understanding of the geological setting that these guys are drilling in. It's an epizonal deposit, similar to Fosterville. Could turn out to be something quite significant.

The cartoon below is a little better than the things they've produced earlier to see how the shoots might be structured and their dimensions. Needs a lot more drilling to fully understand it.

Screen Shot 2022-11-21 at 9.12.22 am.png


Screen Shot 2022-11-21 at 9.28.08 am.png
 
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Sean K

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And, almost inexplicably, they are also in a halt for a capital raise. Why do a raise at the current SP when you come out with a material drill result? You produce the result, ramp the hell out of it, and then do the CR after it's jumped 10-20%. Nuts.
 

Sean K

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Adding a couple of drill rigs. They're going to have to put a lot of holes, and very deep ones, to fully define this system. Could be drilling for a couple more years before an MRE.

Screen Shot 2022-11-22 at 11.15.29 am.png
 

Sean K

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Mandatory ramp for the Dec tipping comp.

The bottom of that last exceptional hole (blue box) should be released in Dec and I'm placing a bet that there's some more Au and Sb in that section. If so, it could do anything.

Will likely be dirt due to me picking it in the comp, so a great opportunity to add to the short list.


Screen Shot 2022-11-27 at 2.21.32 pm.png
 
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