# SXG - Southern Cross Gold



## System (4 May 2022)

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.









						Southern Cross Gold
					

Southern Cross Gold (SXG) is a natural resources company which is engaged in the exploration of precious and base mineral interests. Mining in Victoria and Queensland.




					www.southerncrossgold.com.au


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## Dona Ferentes (4 May 2022)

*Listing date*11 May 2022 ; 10:30AM AEST ##*Company contact details*https://www.southerncrossgold.com.au/
Ph: +61 3 8630 3321*Principal Activities*Mineral exploration*GICS industry group*TBA*Issue Price*AUD 0.20*Issue Type*Ordinary Fully Paid Shares*Security code*SXG*Capital to be Raised*$10,000,000*Expected offer close date*21 April 2022*Underwriter*Not underwritten. Baker Young Limited and Pulse Markets Pty Ltd (Joint Lead Managers).


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## Dona Ferentes (30 May 2022)

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


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## Dona Ferentes (30 May 2022)

_*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 (30 May 2022)

Dona Ferentes said:


> 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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## peter2 (14 June 2022)

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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## Telamelo (15 June 2022)

peter2 said:


> 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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## signalFollower (15 June 2022)

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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## Captain_Chaza (15 June 2022)

signalFollower said:


> 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)


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## signalFollower (15 June 2022)

Captain_Chaza said:


> Name One (1)
> 
> View attachment 142910



numerous examples today on the livestream of Gold Events 2022, which is still on tomorrow so maybe tune in and hear it first hand


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## Sean K (9 August 2022)

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.


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## Dona Ferentes (6 October 2022)

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"_


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## greggles (17 October 2022)

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







Results presented by Managing Director Michael Hudson.


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## peter2 (18 October 2022)

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.


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## Sean K (21 November 2022)

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.


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## Sean K (21 November 2022)

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.


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## Sean K (22 November 2022)

Good lesson on what this deposit is from the MD.


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## Sean K (22 November 2022)

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.


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## Sean K (22 November 2022)

Could have done the raise at 70c+ and saved a tone of dilution for current holders.


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## Sean K (27 November 2022)

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.


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## Sean K (27 November 2022)

The reason why it's not so much of a bet is that there was visible gold in that section of the hole that some punters might have missed in the ann. Should be at least two more shoots at depth.


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## Sean K (30 November 2022)

This is going up a couple of days too early for my liking.


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## Sean K (2 December 2022)

As above charts indicate, this has normally pulled back after the excitement of those significant drill results, but looks to be holding up for the minute. I was waiting for a pullback to add, but might have missed out. 

Might depend on the assays from the bottom of that deep hole. If they prove up more strongly mineralised veins at depth, should hold up ok.

I've had a better look through the entire hole assay numbers and it does need to be analysed carefully. Within the 300m hit there's a lot of low grade stuff between the >100g/t intersections that are surrounded by some higher grades but relatively thin widths. The overall 2.4g/t AuEq is significantly bolstered by those huge grades. The veins are going to have to hang together pretty well along their length to understand the deposit well enough for future mining scenarios.


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## Swervin Mervin (2 December 2022)

Nice commentary on SXG mate! Not sure how I missed this one but fomo got me and bought 300k units at 82c this week. It’ll probably crash and burn now I’m on board so apologies in advance if I jinxed it. I liked the idea of 5 drill rigs with lots of news flow over the next year, and if those deeper holes that are planned end up being higher grade then it will be able to be compared to the neighbours up the road. I’m guessing it’ll hover around 80c for a while until the 28m placement shares are rinsed through.


Sean K said:


> As above charts indicate, this has normally pulled back after the excitement of those significant drill results, but looks to be holding up for the minute. I was waiting for a pullback to add, but might have missed out.
> 
> Might depend on the assays from the bottom of that deep hole. If they prove up more strongly mineralised veins at depth, should hold up ok.
> 
> ...


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## Sean K (5 December 2022)

Swervin Mervin said:


> Nice commentary on SXG mate! Not sure how I missed this one but fomo got me and bought 300k units at 82c this week. It’ll probably crash and burn now I’m on board so apologies in advance if I jinxed it. I liked the idea of 5 drill rigs with lots of news flow over the next year, and if those deeper holes that are planned end up being higher grade then it will be able to be compared to the neighbours up the road. I’m guessing it’ll hover around 80c for a while until the 28m placement shares are rinsed through.




😲 Cripes Swervin, good luck, hope it keeps going for you. I'm just prepared to add on decent dips at this point. Let's hope the bottom of hole 050 and hole 053, about 75m above it (assays pending), have similar mineralisation. Should know within the next couple of weeks.


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## Sean K (7 December 2022)

Bit of a pennant forming up. 🤞


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## Swervin Mervin (8 December 2022)

Thought it was going through a dollar today but fell on its face badly. Oh well maybe a couple more weeks of CR shares to rinse through yet.


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## Sean K (9 December 2022)

Swervin Mervin said:


> Thought it was going through a dollar today but fell on its face badly. Oh well maybe a couple more weeks of CR shares to rinse through yet.




Yeah, I was all ready to call a break up from that pennant but thought it better to wait to EOD. Lucky I did, otherwise more egg on face.. Looks like profit takers taking some off the table above 85c. It has more than tripled in short time. 

I think there's some expectations built in to the next drill results which should be out pretty soon. Hopefully they at least show mineralisation continuing at depth. My only reservation is that I'm not sure how they can surprise the market after what they've produced so far.

Pretty amazing this is only 71km up the road from my place. I might drive up on the weekend and have a look.


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## Sean K (14 December 2022)

Sean K said:


> Let's hope the bottom of hole 050 and hole 053, about 75m above it (assays pending), have similar mineralisation. Should know within the next couple of weeks.




Bottom of hole 50 is mineralised, but not as well. Still pretty good, making it a 500m + intersection @1.7g/t AUEq. Results still pending for the hole directly above it (I assume directly above, might be offset) to see what that holds. Hopefully they have a couple of follow-up holes planned around hole 50 to confirm which direction these shoots are going and continuity of thickness and grades. 

Must remember, the overall grade of this is bolstered by numerous short intersections at extremely high grades. There's a lot of very low grades between them, so it's not just a giant blob of Au & Sb. Still, massive potential in this on the back of what they've already found at shallow open pittable material and now at depth - UG mining.


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## Sean K (14 December 2022)

The MD's mandatory ramp. "globally significant gold discovery". Do they always say that?


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## Swervin Mervin (15 December 2022)

Sean K said:


> The MD's mandatory ramp. "globally significant gold discovery". Do they always say that?
> 
> View attachment 150447



Yeah I got out mate didn’t shape up. Am buying into NAG now. Looks a lot better value


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## Sean K (15 December 2022)

Swervin Mervin said:


> Yeah I got out mate didn’t shape up. Am buying into NAG now. Looks a lot better value




Looks like it's going to do exactly what @peter2 suspected and fall back after the news. Looked very promising when it kept going up after the (dumb) low ball CR but like most of these types of things, the excitement wears off and short term punters bail. I'm active investing longer term at the moment as opposed to trading short term in and out, so still holding as I see some longer term potential here.


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## Sean K (23 December 2022)

Looks like it's holding up ok above the CR which is positive.

One thing to be a little wary of with the spectacular intersections reported so far are that they are averaging the grade over a decent sized intersection which includes bonanza grades at very short intervals - like 0.03m. These bonanza grades take the overall grade of the intersection up quite a bit, but between the bonanza grades are wide intersections well below 1 g/t.

For eg, the 30 May, 119m @ 3.9 g/t AuEq, including 64m @ 3g/t and 39m @ 6.8 g/t.

But, when you actually look at the entire intersection broken down over it's length and try to find the above intersection, you'd have to be pretty creative to find the 64m and 39m high grade intersections.

The last 300m @ 2.4g/t AuEq is very similar.  

I'm sure this will be mineable if the infill shows some good continuity and the high grades continue over decent lengths, but it will pay to look at the detail in future announcements IMO.

Here is the 119m intersection with the higher grade parts highlighted. They are not as wide as reported.

The boxes highlighted are only 28m within a 48m zone. 

Anyone closely following this and has a different take on it?


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## peter2 (24 December 2022)

Selected for the 2023 CY comp. 
*SXG* has been reporting massive drill results. The infills have been a bit spotty but they've got a gold resource worth something. Hoping that 2023 will be a good year for gold after the crypto sector collapsed under it's own hubris in 2022. 
*SXG* is a buy the dip opportunity for me as I don't want to overpay after good drill results are announced.


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