Southern Cross Gold Shares Jump 8% After High-Grade Drill Results At Sunday Creek Project In Victoria

MELBOURNE, Australia — Shares of Southern Cross Gold Consolidated Ltd. climbed sharply Thursday, rising $0.92, or 8.13%, to $12.24, after the exploration company released a fresh batch of high-grade drilling results from its flagship Sunday Creek gold-antimony project in Victoria.

The dual-listed company, which trades under the ticker SXGC on the Toronto Stock Exchange and as SX2 through CHESS Depositary Interests on the Australian Securities Exchange, announced Wednesday that results from five newly reported drill holes had extended the known mineralization at Sunday Creek to its furthest eastern point to date, while also showing increasing grades at depth within the project's Apollo prospect.

The headline result came from drill hole SDDSC222W1, which returned an intersection of 0.6 meters at 993.2 grams per tonne gold equivalent, comprising 972.0 grams per tonne gold and 8.9% antimony, from a depth of 808.5 meters. The company said the intersection ranked as the ninth-best composite result drilled at Sunday Creek to date, striking mineralization roughly 620 meters below surface within the Apollo prospect.

A separate hole, SDDSC227, delivered what Southern Cross Gold described as the shallowest high-grade intersection yet drilled in the project's Apollo East zone, returning 5.1 meters at 27.2 grams per tonne gold equivalent, including a higher-grade section of 2.6 meters at 51.1 grams per tonne gold equivalent, from a depth of just 260.9 meters. The company said the hole also represented the most easterly and shallowest significant drill intersection reported at the project to date, alongside an antimony assay of 32.5%.

Southern Cross Gold said the latest results reinforced the view that the mineralized system at Sunday Creek remains open both laterally and at depth, with the company continuing a systematic step-out drilling program designed to test the full extent of the deposit. As of the company's latest project update, dated Sept. 2, a total of 283 drill holes covering 136,941 meters have now been reported across the main Sunday Creek area, which spans a strike length of 1,550 meters between the Christina and Apollo prospects, along with additional regional targets at the Leviathan, Tonstal and Consols prospects located up to 8 kilometers to the northeast.

The company has described the geological structure at Sunday Creek as resembling the side rails of a ladder when viewed from above, with sub-vertical mineralized vein sets acting as the ladder's "rungs" extending from surface to significant depth. At the project's Apollo and Rising Sun zones specifically, these individual mineralized structures have now been defined across a vertical extent of more than 600 meters, reaching as deep as 1,245 meters below surface, with widths typically ranging between 2.5 and 3.5 meters, and in some cases up to 10 meters, extending along strike lengths of between 20 and 100 meters.

According to the company, at least 125 of these mineralized "rungs" have now been identified at Sunday Creek, with high-grade intercepts reaching as much as 7,330 grams per tonne gold at the system's richest points. As of the Sept. 2 update, the project has delivered a cumulative total of 98 composite drill intersections exceeding 100 grams per tonne gold, 83 composite intersections between 50 and 100 grams per tonne gold, and 111 individual intersections exceeding 10% antimony, based on a cutoff grade of 5 grams per tonne gold equivalent applied over a minimum 1-meter downhole interval.

Southern Cross Gold holds 100% ownership of the Sunday Creek project, located roughly 60 kilometers north of Melbourne within Victoria's historic goldfields region. The company controls a broader tenement package spanning 16,900 hectares in the area, including 1,392 hectares of key freehold land directly covering the Sunday Creek mineralized system, giving the company a strong strategic land position as it continues expanding the known extent of the deposit through ongoing exploration drilling.

Thursday's share price gain adds to a substantial run for the stock over the past year. According to market data, Southern Cross Gold's share price has climbed more than 267% over the trailing 52 weeks, reflecting sustained investor interest in the company's ongoing exploration success at Sunday Creek. The stock's elevated volatility, with a beta measure of 2.92 according to available market statistics, indicates the shares have moved considerably more sharply than the broader market in both directions over that period, a pattern common among small-cap exploration companies delivering a steady stream of high-grade drilling news.

Beyond gold, Southern Cross Gold's project carries added significance given the antimony content found alongside gold mineralization at Sunday Creek. Antimony has drawn increasing strategic attention in recent years as a critical mineral used in a range of industrial and defense-related applications, with global supply chains for the metal remaining heavily concentrated in China. The dual gold-antimony nature of the Sunday Creek deposit has positioned Southern Cross Gold as a company of interest not only to traditional gold-focused investors but also to those tracking the broader push by Western governments and manufacturers to diversify critical mineral supply chains.

Michael Hudson, president, chief executive officer and managing director of Southern Cross Gold, serves as the qualified person responsible for reviewing and verifying the technical content of the company's drilling disclosures, in line with standard reporting requirements for mineral exploration companies listed on both the Toronto and Australian exchanges.

The company has continued to release drilling results from Sunday Creek on a rolling basis throughout 2026, with Wednesday's announcement following a similar high-grade update released roughly a week earlier that included a standout intersection of 0.3 meters at 1,466 grams per tonne gold from the project's Rising Sun zone. That earlier result was described by the company as among the deepest and highest-grade intersections reported at Sunday Creek to date, further reinforcing the broader trend of expanding, high-grade mineralization the company has continued to report across the project's evolving footprint.

With drilling ongoing and additional assay results still pending from the current program, Southern Cross Gold has indicated it will continue reporting new intersections as they become available, a pattern of regular newsflow that has helped sustain investor attention in the stock throughout the year even as the company works to further define the full scale of the Sunday Creek gold-antimony system.