Southern Cross Gold Consolidated Ltd. press release
Southern Cross Gold Expands Apollo to Depth and Along Strike
TSX - Toronto Stock Exchange · Australia
Results Include 3.6 m @ 14.6 g/t Gold in Deepest Hole at Apollo
Vancouver, British Columbia and Melbourne, Australia--(Newsfile Corp. - December 17, 2025) - Southern Cross Gold Consolidated Ltd(TSX: SXGC) (ASX: SX2) (OTCQX: SXGCF) (FSE: MV3) ("SXGC", "SX2" or the "Company")announces results from 12 drillholes from at the 100%-owned Sunday Creek Gold-Antimony Project in Victoria (Figures 1 to 6). Best results included 3.6 m @ 14.7 g/t AuEq from 708.6 m in drillhole SDDSC192, the deepest east-west oriented hole drilled into the Apollo prospect to date.
Five High Level Takeaways:
1.
Exceptional high-grade gold hit– SDDSC192 returned 3.6 m @ 14.7 g/t AuEq(14.6 g/t Au, 0.0% Sb) from 708.6 m, including 0.21 m @ 236 g/t Au, a high-grade hit that confirms the system continues to deliver exceptional gold values in the deepest holes into the system, stepping down 60 m at Apollo East and 80 m at Apollo Deeps, demonstrating the system remains robust and open at depth.
2.
Discovery of a new mineralized zone– SDDSC174B identified previously unrecognized mineralization between the Gladys and Golden Orb Faults, returning 0.3 m @ 45.9 g/t AuEq(34.6 g/t Au, 4.7% Sb) from 856.2 m and opening up 70 m of untested ground to the south – a significant new exploration target.
3.
Other broader intersections –2.3 m @ 17.1 g/t AuEq(11.3 g/t Au, 2.4% Sb) from 810.0 m in SDDSC174BW1 and 3.6 m @ 14.7 g/t AuEq(14.6 g/t Au) from 708.6 m in SDDSC192.
4.
Strong antimony and gold grades– SDDSC174BW1 returned 0.1 m @ 109.7 g/t AuEq(49.7 g/t Au, 25.1% Sb) from 811.3 m and 0.1 m @ 83.9 g/t AuEq(42.3 g/t Au, 17.4% Sb) from 800.68 m, highlighting the exceptional critical mineral endowment alongside high-grade gold values.
5.
Apollo East continues to grow– SDDSC181 extended the mineralized corridor to approximately 150 m of east-west strike, while SDDSC179 pushed the prospective host 30 m further east, demonstrating the system is expanding in multiple directions.
Michael Hudson, President & CEO states:_"SDDSC192 is our deepest east-west hole into Apollo and delivered 3.6 m @ 14.7 g/t AuEq, including a high-grade hit of 0.21 m @ 236 g/t Au, proving the system remains robust and open at depth. Stepping down 80 m at Apollo Deeps, we intersected 11 vein sets across Apollo East and Apollo Deeps, demonstrating exceptional continuity of this large-scale, high-grade gold-antimony system. We've also uncovered a new mineralized zone between the Gladys and Golden Orb Faults that returned 0.3 m @ 45.9 g/t AuEq, opening up 70 m of untested ground to the south. _
"Individual samples returned exceptional antimony grades of 25.1% and 17.4% Sb alongside high-grade gold values, reinforcing Sunday Creek's significance as a critical antimony project. Apollo continues to grow in every direction we drill, and with mineralization open at depth and along strike, we're only starting to see system's potential to the east."
For Those Who Like the Details - Highlights:
Drill holes returned significant gold-antimony mineralization across Apollo and Apollo East, highlighted by the deepest east-west hole to date and discovery of a new mineralized zone.
SDDSC174B
-
Confirmed five distinct vein sets at Apollo East
-
Discovered a new mineralized zone between Gladys and Golden Orb Faults, opening 70 m of untested exploration potential to the south
-
New zone returned 0.3 m @ 45.9 g/t AuEq(34.6 g/t Au, 4.7% Sb) from 856.2 m
-
Upper zone returned 0.4 m @ 25.6 g/t AuEq (24.0 g/t Au, 0.7% Sb) from 510.7 m
SDDSC174BW1
-
Intersected seven vein sets including one newly identified vein set
-
Extended A139 and A141 vein sets 40 m vertically down-dip, demonstrating robust continuity at depth
-
Exceptional antimony grades with high-grade intercepts of 0.1 m @ 109.7 g/t AuEq(49.7 g/t Au, 25.1% Sb) from 811.3 m and 0.1 m @ 83.9 g/t AuEq(42.3 g/t Au, 17.4% Sb) from 800.68 m
-
Broader intercept of 2.3 m @ 17.1 g/t AuEq (11.3 g/t Au, 2.4% Sb) from 810.0 m
SDDSC174BW2
-
Tested offset system south of SDDSC174BW1 within newly identified fault-bound zone
-
Identified additional unrecognized vein set
-
Returned 2.3 m @ 17.4 g/t AuEq(12.2 g/t Au, 2.2% Sb) from 866.45 m including 0.7 m @ 58.9 g/t AuEq(41.3 g/t Au, 7.4% Sb)
SDDSC179
-
Intersected three known vein sets 40 m up-dip from last known mineralized position
-
Extended prospective dyke and altered sediment corridor 30 m to the east
-
Returned 0.6 m @ 13.5 g/t AuEq(9.0 g/t Au, 1.9% Sb) from 276.22 m
SDDSC181
-
Intersected five vein sets, extending Apollo East approximately 30 m further east
-
Apollo East now demonstrates approximately 150 m of east-west strike continuity
-
Best intercept of 15.7 m @ 2.5 g/t AuEq(1.7 g/t Au, 0.3% Sb) from 602.2 m – widest mineralized interval in this release
-
Peripheral hanging wall mineralization indicates potential for additional positions within the broader system
SDDSC192
-
Deepest east-west oriented hole into Apollo to date
-
Intersected five vein sets at Apollo East (60 m step-down) and six vein sets at Apollo Deeps (80 m step-down), confirming mineralization remains open at depth
-
High-grade intercept of 3.6 m @ 14.7 g/t AuEq(14.6 g/t Au) from 708.6 m including 0.21 m @ 236 g/t Au
-
Deep mineralization at Apollo Deeps returned 7.8 m @ 2.6 g/t AuEq(0.6 g/t Au, 0.8% Sb) from 921.5 m
Regional Drilling
Confirms favourable structural architecture extending 450 m east and 700 m west of the main zone
Drill Hole Discussion
Apollo and Apollo East Drilling
Eight drill holes are reported here that targeted the Apollo prospect from east to west orientations.
SDDSC174Bsuccessfully intersected the Apollo East zone, confirming five distinct vein sets. Critically, this hole identified an additional mineralized zone at Apollo situated between the Gladys Fault and Golden Orb Fault, representing previously unrecognized mineralization that offsets the system to the south in an untested area with up to 70 m of untested significant exploration potential. Highlights included:
-
0.4 m @ 25.6 g/t AuEq(24.0 g/t Au, 0.7% Sb) from 510.7 m
-
4.0 m @ 2.1 g/t AuEq(1.6 g/t Au, 0.2% Sb) from 520.6 m
-
6.5 m @ 1.8 g/t AuEq(1.3 g/t Au, 0.2% Sb) from 534.5 m
-
0.3 m @ 45.9 g/t AuEq(34.6 g/t Au, 4.7% Sb) from 856.2 m
SDDSC174BW1& SDDSC174BW2tested a 100 m wide strike of the host within the Apollo system. SDDSC174BW1intersected seven vein sets, including one newly identified vein set, and returned three high-grade cores with exceptional antimony grades of 25.1% and 17.4% Sb in individual samples. The drilling expanded known vein sets 15 m to 20 m along strike from previously reported holes and importantly confirmed the down-dip extension of the A139 and A141 vein sets by 40 m vertically, demonstrating robust continuity of high-grade mineralization at depth. Highlights included:
-
8.7 m @ 1.4 g/t AuEq(0.8 g/t Au, 0.2% Sb) from 765.3 m
-
6.4 m @ 4.3 g/t AuEq(1.7 g/t Au, 1.1% Sb) from 782.4 m
-
2.3 m @ 17.1 g/t AuEq(11.3 g/t Au, 2.4% Sb) from 810.0 m
-
1.4 m @ 8.1 g/t AuEq(0.9 g/t Au, 3.0% Sb) from 823.85 m
SDDSC174BW2was designed south of SDDSC174BW1 and tested the previously unrecognized offset system between the Gladys Fault and Golden Orb Fault and identified an additional unrecognized vein set. Highlights included:
-
2.9 m @ 1.3 g/t AuEq(0.6 g/t Au, 0.3% Sb) from 818.0 m
-
3.4 m @ 4.2 g/t AuEq(1.8 g/t Au, 1.0% Sb) from 825.0 m
-
3.5 m @ 4.0 g/t AuEq(1.0 g/t Au, 1.2% Sb) from 830.77 m
-
2.3 m @ 17.4 g/t AuEq(12.2 g/t Au, 2.2% Sb) from 866.45 m
The primary (parent) holes SDDSC174and SDDSC174Awere abandoned due to excessive deviation, prompting a wedge and directional drilling strategy focused on high grade core confirmation and strike expansion.
SDDSC179
SDDSC179 intersected three known vein sets approximately 40 m up-dip from the last previously known mineralized position, confirming strong continuity of the mineralized system in Apollo East. The hole also has extended the prospective dyke and altered sediment corridor 30 m to the east, demonstrating strike expansion in Apollo East. Highlights included:
-
0.6 m @ 13.5 g/t AuEq(9.0 g/t Au, 1.9% Sb) from 276.22 m
-
0.4 m @ 14.0 g/t AuEq(12.4 g/t Au, 0.7% Sb) from 368.28 m
SDDSC181
SDDSC181 intersected five vein sets in Apollo East and extending this zone approximately 30 m further east. Apollo East now demonstrates approximately 150 m of east-west strike continuity of the mineralized host, significantly expanding the footprint of this emerging corridor. The hole also intersected peripheral mineralization in the hanging wall of the main corridor at Apollo Deeps, indicating potential for additional mineralized positions within the broader structural system. Highlights included:
-
15.7 m @ 2.5 g/t AuEq(1.7 g/t Au, 0.3% Sb) from 602.2 m
-
2.7 m @ 4.2 g/t AuEq(2.4 g/t Au, 0.8% Sb) from 676.98 m
-
0.5 m @ 13.9 g/t AuEq(13.6 g/t Au, 0.1% Sb) from 688.33 m
-
0.5 m @ 15.3 g/t AuEq(8.6 g/t Au, 2.8% Sb) from 698.68 m
SDDSC192
SDDSC192 represents the deepest east-west oriented hole into the Apollo system to date and intersected five vein sets in Apollo East with a 60 m step-down from previous drilling, and six vein sets at Apollo Deeps with an 80 m vertical step-down, demonstrating robust continuity at depth. Individual assay result includes a standout intercept of 0.21 m @ 236 g/t Au, 0.69% Sb from 711.54 m further highlighting the high-grade nature of the system and confirming that mineralization remains open at depth.
-
8.1 m @ 2.0 g/t AuEq(1.6 g/t Au, 0.1% Sb) from 662.3 m
-
3.6 m @ 14.7 g/t AuEq(14.6 g/t Au, 0.0% Sb) from 708.55 m
-
7.8 m @ 2.6 g/t AuEq(0.6 g/t Au, 0.8% Sb) from 921.5 m
-
5.6 m @ 2.4 g/t AuEq(2.0 g/t Au, 0.2% Sb) from 934.55 m
Along Strike Drilling
Drilling at Sunday Creek has confirmed continuous structural architecture extending both east and west along strike (Figure 4). SDDSC167, drilled 450 m east of Apollo, intersected seven dyke intervals over a 240 m window before encountering a major fault structure. To the west, SDDSC183 (250 m west of Christina) and SDDSC185 (700 m west of Christina) both returned arsenic and sulphur anomalism indicating proximity to mineralization. SDDSC189 tested a southern parallel trend and intersected a large-scale fault containing dyke and altered sediment clasts, confirming continuity of this secondary target with offset. Together, these holes demonstrate the favourable structural framework across the broader system and highlight potential at depth as regional drilling now commences.
Pending Results and Update
Nine drill rigs are currently operational on the Sunday Creek project with one additional drill rig dedicated to regional exploration. Results are pending from 42 holes currently being processed and analyzed including ten holes that are actively being drilled and two abandoned holes (Figure 2). The Company continues its 200,000 m drill program through Q1 2027.
About Sunday Creek
The Sunday Creek epizonal-style gold project is located 60 km north of Melbourne within 16,900 hectares ("Ha") of granted exploration tenements. SXGC is also the freehold landholder of 1,392 Ha that forms the key portion in and around the main drilled area at the Sunday Creek Project.
Gold and antimony form in a relay of vein sets that cut across a steeply dipping zone of intensely altered rocks (the "host"). These vein sets are like a "Golden Ladder" structure where the main host extends between the side rails deep into the earth, with multiple cross-cutting vein sets that host the gold forming the rungs. At Apollo and Rising Sun these individual 'rungs' have been defined over 600 m depth extent from surface to over 1,100 m below surface, are 2.5 m to 3.5 m wide (median widths) (and up to 10 m), and 20 m to 100 m in strike.
Cumulatively, 231 drill holes for 105,091.11 m have been reported from Sunday Creek since late 2020. This amount includes five holes for 929 m that have been drilled for geotechnical purposes and 22 holes for 2,973.77 m that were abandoned due to deviation or hole conditions. Fourteen drillholes for 2,383 m have been reported regionally outside of the main Sunday Creek drill area. A total of 64 historic drill holes for 5,599 m were completed from the late 1960s to 2008. The project now contains a total of Seventy-two (72) >100 g/t AuEq x m and eighty (80) >50 to 100 g/t AuEq x m drill holesby applying a 2 m @ 1 g/t AuEq lower cut.
Our systematic drill program is strategically targeting these significant vein formations, which are currently defined over 1,350 m strike of the host dyke/sediment ("rails of the ladder") from Christina to Apollo prospects, of which approximately 620 m has been more intensively drill tested (Rising Sun to Apollo). At least 94 'rungs' have been defined to date, defined by high-grade intercepts (20 g/t Au to >7,330 g/t Au) along with lower grade edges. Ongoing step-out drilling is aiming to uncover the potential extent of this mineralized system (Figure 5).
Geologically, the project is located within the Melbourne Structural Zone in the Lachlan Fold Belt. The regional host to the Sunday Creek mineralization is an interbedded turbidite sequence of siltstones and minor sandstones metamorphosed to sub-greenschist facies and folded into a set of open north-west trending folds.
Further Information
Further discussion and analysis of the Sunday Creek project is available through the interactive Vrify 3D animations, presentations and videos all available on the SXGC website. These data, along with an interview on these results with President & CEO/Managing Director Michael Hudson can be viewed at www.southerncrossgold.com.
No upper gold grade cut is applied in the averaging and intervals are reported as drill thickness. However, during future Mineral Resource studies, the requirement for assay top cutting will be assessed. The Company notes that due to rounding of assay results to one significant figure, minor variations in calculated composite grades may occur.
Figures 1 to 6 show project location, plan and longitudinal views of drill results reported here and Tables 1 to 3 provide collar and assay data. The true thickness of the mineralized intervals reported individually as estimated true widths ("ETW"), otherwise they are interpreted to be approximately 65% to 90% of the sampled thickness for other reported holes. Lower grades were cut at 1.0 g/t AuEq lower cutoff over a maximum width of 2 m with higher grades cut at 5.0 g/t AuEq lower cutoff over a maximum of 1 m width unless specified unless otherwise* specified to demonstrate higher grade assays.
Critical Metal Epizonal Gold-Antimony Deposits
Sunday Creek (Figure 6) is an epizonal gold-antimony deposit formed in the late Devonian (like Fosterville, Costerfield and Redcastle), 60 million years later than mesozonal gold systems formed in Victoria (for example Ballarat and Bendigo). Epizonal deposits are a form of orogenic gold deposit classified according to their depth of formation: epizonal (12 km).
Epizonal deposits in Victoria often have associated high levels of the critical metal, antimony, and Sunday Creek is no exception. China claims a 56 per cent share of global mined supplies of antimony, according to a 2023 European Union study. Antimony features highly on the critical minerals lists of many countries including Australia, the United States of America, Canada, Japan and the European Union. Australia ranks seventh for antimony production despite all production coming from a single mine at Costerfield in Victoria, located nearby to all SXGC projects. Antimony alloys with lead and tin which results in improved properties for solders, munitions, bearings and batteries. Antimony is a prominent additive for halogen-containing flame retardants. Adequate supplies of antimony are critical to the world's energy transition, and to the high-tech industry, especially the semi-conductor and defence sectors where it is a critical additive to primers in munitions.
In August 2024, the Chinese government announced it will place export limits from September 15, 2024, on antimony and antimony products. This puts pressure on Western defence supply chains and negatively affect the supply of the metal and push up pricing given China's dominance of the supply of the metal in the global markets. This is positive for SXGC as we are likely to have one of the very few large and high-quality projects of antimony in the western world that can feed western demand into the future.
Antimony represents approximately 21% to 24% in situ recoverable value of Sunday Creek at an AuEq of 2.39 ratio.
About Southern Cross Gold Consolidated Limited (TSX: SXGC) (ASX: SX2) (OTCQX: SXGCF) (FSE: MV3)
Southern Cross Gold Consolidated Ltd. (TSX: SXGC) (ASX: SX2) (OTCQX: SXGCF), controls the Sunday Creek Gold-Antimony Project located 60 km 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 72 intersections exceeding 100 g/t AuEq x m from 105,091 km of drilling. The mineralization follows a "Golden Ladder" structure over 12 km of strike length, with confirmed continuity from surface to 1,100 m depth.
Sunday Creek's strategic value is enhanced by its dual-metal profile, with antimony contributing approximately 20% of the in-situ value alongside gold, meaning Importantly, Sunday Creek can be developed primarily based on gold economics, which reduces antimony-related risks while maintaining strategic supply potential. This has gained increased significance following China's export restrictions on antimony, a critical metal for defense and semiconductor applications. Southern Cross' inclusion in the US Defense Industrial Base Consortium (DIBC) and Australia's AUKUS-related legislative changes position it as a potential key Western antimony supplier.
Technical fundamentals further strengthen the investment case, with preliminary metallurgical work showing non-refractory mineralization suitable for conventional processing and gold recoveries of 93% to 98% through gravity and flotation.
With a strong cash position, 1,392 Ha of strategic freehold land ownership, and a large 200 km drill program planned through Q1 2027, SXGC is well-positioned to advance this globally significant gold-antimony discovery in a tier-one jurisdiction.
Ends -
This announcement has been approved for release by the Board of Southern Cross Gold Consolidated Ltd.
For further information, please contact:
Mariana Bermudez – Corporate Secretary
mbermudez@chasemgt.comor +1 604 685 9316
Executive Office
1305 – 1090 West Georgia Street Vancouver, BC, V6E 3V7, Canada
Nicholas Mead – Corporate Development
info@southerncrossgold.com.auor +61 415 153 122
Justin Mouchacca, Assistant Company Secretary,
jm@southerncrossgold.com.auor +61 3 8630 3321
Subsidiary Office
Level 21, 459 Collins Street, Melbourne, VIC, 3000, Australia
NI 43-101 Technical Background and Qualified Person
Michael Hudson, President, CEO and Managing Director of SXGC, and a Fellow of the Australasian Institute of Mining and Metallurgy, and Mr Kenneth Bush, Exploration Manager of SXGC and a RPGeo (10315) of the Australian Institute of Geoscientists, are the Qualified Persons as defined by the NI 43-101. They have prepared, reviewed, verified and approved the technical contents of this release.
Analytical samples are transported to the Bendigo facility of On Site Laboratory Services ("On Site") which operates under both an ISO 9001 and NATA quality systems. Samples were prepared and analyzed for gold using the fire assay technique (PE01S method; 25 gram charge), followed by measuring the gold in solution with flame AAS equipment. Samples for multi-element analysis (BM011 and over-range methods as required) use aqua regia digestion and ICP-MS analysis. The QA/QC program of Southern Cross Gold consists of the systematic insertion of certified standards of known gold content, blanks within interpreted mineralized rock and quarter core duplicates. In addition, On Site inserts blanks and standards into the analytical process.
SXGC considers that both gold and antimony that are included in the gold equivalent calculation ("AuEq") have reasonable potential to be recovered and sold at Sunday Creek, given current geochemical understanding, historic production statistics and geologically analogous mining operations. Historically, ore from Sunday Creek was treated onsite or shipped to the Costerfield mine, located 54 km to the northwest of the project, for processing during WW1. The Costerfield mine corridor, now owned by Alkane Resources (previously Mandalay Resources), contains two million ounces of equivalent gold (Mandalay Resources Q3 2021 Results), and in 2020 was the sixth highest-grade global underground mine and a top 5 global producer of antimony.