SX2 - Southern Cross Gold Consolidated

The headline looks extraordinary again, but the thing that's always concerned me is the extremely high grades over narrow widths which push up the overall numbers. Taking it to M&I or establishing a reserve is going to take a crap load of drilling. The consistency is an issue for mining it.

The rest of the market doesn't seem to care though.

Another extraordinary intersection on the surface of it, but once again bolstered by very thin bonanza hits, like 16cm @ 3,330 g/t.

The problem is that this is 776m deep with very low grades around it.

Same with the hits a little higher up.

I suppose if they keep drilling they'll be able to link it together to increase confidence in the system. Maybe.

This was smashed yesterday on that announcement, but lots of goldies are being smashed with the general market as well.

i notice their quarterly report came out yesterday

they have hit a lot of gold ( and antimony ) with the exploration drilling

so much so i was tempted to select it in the monthly comp. but choose GRR instead ( because i would like to buy more GRR cheap )

careful this looks like much of the big grades are in veins ( normally more expensive to extract per tonne of unprocessed ore )

i have no interest in buying this share , i nearly always buy MINERS ( and leave the explorers to others ) the exception was AAO which morphed into EML ( which has since been sold )

divs4ever said:

i notice their quarterly report came out yesterday

they have hit a lot of gold ( and antimony ) with the exploration drilling

so much so i was tempted to select it in the monthly comp. but choose GRR instead ( because i would like to buy more GRR cheap )

careful this looks like much of the big grades are in veins ( normally more expensive to extract per tonne of unprocessed ore )

i have no interest in buying this share , i nearly always buy MINERS ( and leave the explorers to others ) the exception was AAO which morphed into EML ( which has since been sold )

Click to expand...

This is going to be very selective mining. No caves, just small tunnels with a pick and shovel. Maybe using metal detectors at depth. Even then, the strip ratio will be massive. I do wonder whether some of those hits are nuggets. The 'ladder' analogy doesn't equate to any other gold system that I'm aware of. No geologists have got on here to tell us otherwise. I think this is going to be in the 'inferred' category for about a decade.

Having said that, I sold it at 50c, so I might be a dumb arse.

Sean K said:

This is going to be very selective mining. No caves, just small tunnels with a pick and shovel. Maybe using metal detectors at depth. Even then, the strip ratio will be massive. I do wonder whether some of those hits are nuggets. The 'ladder' analogy doesn't equate to any other gold system that I'm aware of. No geologists have got on here to tell us otherwise. I think this is going to be in the 'inferred' category for about a decade.

Having said that, I sold it at 50c, so I might be a dumb arse.

Click to expand...

sounds like nuggets and pockets to me ( and following the veins ) however that MIGHT mean reduced capital expenditure ( no big fancy electric trucks , but from what i saw on pay-TV ( on gold miners in North America ) the likely rock just eats crushing plants

also they seem to have a reasonable amount of Antimony how are they going to extract profitably , to me ( as inexperienced as i am in this ) hints they need to process the ore more like a copper play ( crush everything and extract it )

now of course IF they ever get around to extracting , they might go for the gold early to fund the antimony extraction later ( from the tailings )

i did note the drill results seem to only yield gold and antimony ( none of the usual co-products of a gold mine ) are the other minerals in uneconomical concentrations ?

i will be watching/learning this looks like it will take too long to get into reliable profit for me ( i am aging .. a decade in the future is a tall ask for me )

SXG ... a goner


15 January 2025
Melbourne, Australia — Further to the announcement made yesterday, Southern Cross Gold Ltd (ASX:SXG) is pleased to confirm that the scheme of arrangement pursuant to which TSXV listed Southern Cross Gold Consolidated Ltd. (formerly named Mawson Gold Limited), a company formed in British Columbia, Canada (TSXV:SXGC) will acquire 100% of the shares in SXG it does not already own is now legally effective. It is expected that SXG shares will be suspended from close of trading today, Wednesday 15 January 2025.


and now it is

Southern Cross Gold Consolidated Ltd. (TSXV:SXGC) (ASX:SX2)

Southern Cross Gold Consolidated Ltd. (TSXV: SXGC, ASX: SX2), formed through the merger of Mawson Gold Limited (TSXV:MAW) and Southern Cross Gold (ASX:SXG) (completion by 28 January 2025 AEDT) controls the Sunday Creek Gold-Antimony Project located 60 kilometres north of Melbourne, Australia.

Sunday Creek has emerged as one of the Western world's most significant gold and antimony discoveries, with exceptional drilling results including 55 intersections exceeding 100 g/t AuEq x m from just 70.7 km of drilling. The mineralization follows a "Golden Ladder" structure over 12 km of strike length, with confirmed continuity from surface to 1,100m depth.

Sunday Creek’s strategic value is enhanced by its dual-metal profile, with antimony contributing 20% of the in-situ value alongside gold. This has gained increased significance following China's export restrictions on antimony, a critical metal for defense and semiconductor applications. SX2’s inclusion in the US Defense Industrial Base Consortium and Australia's AUKUS-related legislative changes position it as a potential key Western antimony supplier. Importantly, Sunday Creek can be developed primarily based on gold economics, which reduces antimony-related risks while maintaining strategic supply potential.

Technical fundamentals further strengthen the investment case, with preliminary metallurgical work showing non-refractory mineralization suitable for conventional processing and gold recoveries of 93-98% through gravity and flotation.

With A$22M in cash, over 1,000 hectares of strategic freehold land ownership, and an aggressive 60 km drill program planned through Q3 2025, SX2 is well-positioned to advance this globally significant gold-antimony discovery in a tier-one jurisdiction.
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and ...trading this week