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Southern Cross Gold Consolidated Ltd. Chees Depository Interest Repr 1 shs ( (AU:SX2) ) has provided an announcement.
Southern Cross Gold has drilled its deepest hole to date at the Sunday Creek Gold-Antimony Project in Victoria, intersecting gold mineralization 1,236 metres below surface and 460 metres below the previously known extent at the Golden Dyke prospect. The hole, SDDSC194W1, cut 66 metres of dyke and altered sediment with a 28-metre true thickness containing anomalous gold, including a high-grade interval of 0.9 metres at 5.4 g/t gold equivalent.
The result materially extends the vertical range of the system well beyond the existing exploration target, with mineralization now shown at depths comparable to the project’s Rising Sun prospect and suggesting at least 50% more vertical space remains untested. Geochemical signatures at depth match the expected epizonal model, giving the company confidence to commit to a second deep hole approaching two kilometres, and establishing a structural framework to more efficiently target robust, deep gold zones in future drilling.
The most recent analyst rating on (AU:SX2) stock is a Hold with a A$10.70 price target. To see the full list of analyst forecasts on Southern Cross Gold Consolidated Ltd. Chees Depository Interest Repr 1 shs stock, see the AU:SX2 Stock Forecast page.
More about Southern Cross Gold Consolidated Ltd. Chees Depository Interest Repr 1 shs
Southern Cross Gold Consolidated Ltd is a mineral exploration company focused on gold and antimony, with its flagship 100%-owned Sunday Creek Gold-Antimony Project in Victoria, Australia. The company is targeting high-grade, epizonal orogenic gold systems at depth, aiming to expand the known mineralized footprint and demonstrate large-scale potential comparable to major Victorian gold deposits.
Average Trading Volume: 363,946
Technical Sentiment Signal: Buy
Current Market Cap: A$2.38B
See more insights into SX2 stock on TipRanks’ Stock Analysis page.