The Southern Cross Gold Consolidated Ltd (ASX: SX2) share price is in focus after the company released an updated Exploration Target for its Sunday Creek gold-antimony project in Victoria, Australia. The company's revised target now encompasses 3.0 to 4.6 million ounces (Moz) gold equivalent (AuEq) at grades of 8.9 to 12.1 grams per tonne (g/t) AuEq over 10.4 to 11.9 million tonnes.
Modern Gold Mine in Kalgoorlie, Western Australia. Large truck transports gold ore from the Super Pit, Open cast mine.
What did Southern Cross Gold report?
- Updated Sunday Creek Exploration Target: 3.0–4.6 Moz AuEq at 8.9–12.1 g/t across 10.4–11.9 million tonnes
- Expansion of target area to 1,500 metres of strike, up from 1,020 metres
- Five key prospects included: Christina, Golden Dyke, Rising Sun, Apollo, and Apollo East
- Active drilling with 9 rigs on site, and an additional 2 targeting regional prospects
- Metallurgical tests show overall gold recovery of 92.3% to 95.6% with high-grade, low-arsenic antimony-gold concentrate
What else do investors need to know?
Southern Cross Gold's updated exploration target only covers the central 1.5 km section of an 11 km mineralised corridor at Sunday Creek, leaving significant room for future resource expansion. Active drill programs continue, with more than 35 km of core in the shed awaiting results and a further 135 km of drilling scheduled through to the first quarter of 2027.
All key approvals are in place for both freehold and crown land drilling, and the company is well advanced in constructing a 1.2 km exploration decline for underground access. Metallurgical work from August 2025 highlights excellent gold and antimony recoveries, supporting the potential for future processing options.
What did Southern Cross Gold management say?
President & CEO Michael Hudson said:
We've grown this Exploration Target from three prospects to five, from 1,020 metres of strike to over 1,500 metres, and we are nowhere near done…Every hole we drill either extends what we know or opens something new. The path forward is clear. The geology keeps delivering. Our job is to keep drilling.
What's next for Southern Cross Gold?
Looking ahead, Southern Cross Gold plans to ramp up drill activity with a total of 200 km of drilling targeted by Q1 2027 to further define resources and test step-out and regional targets. The company is also advancing metallurgical studies and project approvals to support potential mineral resource estimation and future development.
The project's high grades of gold and antimony position Sunday Creek as a strategic critical minerals opportunity, particularly amid rising global demand for antimony in energy storage, defence and technology sectors.
Southern Cross Gold share price snapshot
Over the past 12 months, Southern Cross Gold shares have risen 69%, outperforming the All Ordinaries Index (ASX: XAO), which has risen 2% over the same period.
