Southern Cross Gold Consolidated Ltd. press release
Southern Cross Gold Drills 1.6 Metres @ 55.3 g/t Gold and 1.9% Antimony
TSX - Toronto Stock Exchange · Australia
Vancouver, British Columbia and Melbourne, Australia--(Newsfile Corp. - April 22, 2026) - Southern Cross Gold Consolidated Ltd(TSX: SXGC) (ASX: SX2) (OTCQX: SXGCF) (FSE: MV3) ("SXGC", "SX2" or the "Company")announces results from six drill holes from the Golden Dyke prospect from the 100%-owned Sunday Creek Gold-Antimony Project in Victoria (Figures 1 to 5). Best results included 1.6 m @ 59.8 g/t AuEq (55.3 g/t Au, 1.9% Sb) from 313.8 m in drill hole SDDSC203. The true thickness of the mineralized intervals is interpreted to be approximately 50% to 80% of the sampled thickness for all reported holes.
Four High Level Takeaways:
1.
Golden Dyke keeps delivering exceptional gradesMultiple holes hit individual samples over 100 g/t gold, with SDDSC203's standout 1.6 m @ 55.3 g/t goldbeing the best intercept.
2.
The deposit is growing in multiple directionsSDDSC197 pushed Golden Dyke's western boundary 30 m to 50 m beyond the current exploration target outline, while SDDSC193 extended mineralization to the east and deeper. With each drill program, Golden Dyke gets bigger and remains open for further expansion.
3.
Antimony adds significant value to high-grade zonesThe best intercepts combine exceptional gold grades with substantial antimony credits - SDDSC210 intersected three samples over 10% antimony, with one reaching 227 g/t gold plus 10.6% antimony. This dual-metal profile makes Sunday Creek unique in the current critical minerals landscape.
4.
Infill drilling confirms the system is predictableSDDSC203 and SDDSC210 were drilled as infill holes between existing intercepts and both delivered multiple high-grade zones exactly where expected. This consistency gives confidence that Golden Dyke's grade and continuity will support future mining studies.
5.
One additional drill rig has been added to Sunday Creek, with eleven rigsnow operational on the project.
Michael Hudson, President & CEO, states:_"These results reinforce that Golden Dyke holds the same grade tenor as the adjacent Rising Sun deposit. When you drill 1.6 m at 59.8 g/t gold equivalent, with multiple individual samples exceeding 100 g/t gold and 10% antimony, you're looking at extremely high-grade mineralization that's rare in today's mining landscape._
"What excites us the most is the predictability we're seeing in our infill program. SDDSC203 and SDDSC210 were designed to test grade continuity between existing high-grade intersections, and both delivered exactly what our geological model predicted, multiple vein sets with coherent high-grade cores that respond consistently to our drilling approach. That level of geological confidence is what transforms an exploration discovery into a development asset.
"We're now seeing Golden Dyke expand systematically in multiple directions while our infill drilling confirms the robust grade continuity that mining studies demand. With SDDSC197 pushing our western boundary 50 m beyond the current Exploration Target and our eastern extensions continuing to deliver high-grade intercepts, we are continuing to build scale and confidence.
"The antimony dimension adds another layer of value that's increasingly relevant to our strategic discussions with both government and industry. When you combine 227 g/t gold with 10.6% antimony in a single interval, as we saw in SDDSC210, you're looking at critical mineral endowment that positions Sunday Creek as a unique Western-aligned antimony project of national security.
"To accelerate this momentum, one additional drill rig has been added to Sunday Creek, with eleven rigs now operational on the project."
For Those Who Like the Details - Highlights:
Six diamond drill holes (SDDSC193, SDDSC197, SDDSC203, SDDSC206, SDDSC210, SDDSC211) were completed at the Golden Dyke prospect, drilled in alternating east-to-west and west-to-east orientations to optimize intersection angles across the steeply dipping vein architecture.
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SDDSC193(east to west): Three vein sets intersected, confirming Golden Dyke to the depth approximately 40 m to 60 m down-dip of SDDSC141. Also intersected the upper Rising Sun structure approximately 150 m vertically below surface:
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SDDSC197(west to east): Expanded the western extension of Golden Dyke 30 m to 50 m outside the current Exploration Target, within 200 m of the surface:
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5.4 m @ 2.0 g/t AuEq(1.1 g/t Au, 0.4% Sb) from 230.1 m
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9.6 m @ 1.4 g/t AuEq(0.5 g/t Au, 0.4% Sb) from 496.4 m
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0.7 m @ 29.5 g/t AuEq(28.8 g/t Au, 0.3% Sb) from 552.1 m, including;
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0.25 m @ 75.6 g/t AuEq(74.8 g/t Au, 0.3% Sb) from 552.1 m
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SDDSC203(east to west): Five vein sets intersected, 10 m to 18 m along strike and 40 m to 60 m vertically returning multiple high-grade intercepts including three individual assays exceeding 100 g/t Au:
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5.4 m @ 8.7 g/t AuEq(8.2 g/t Au, 0.2% Sb) from 304.8 m, including;
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0.1 m @ 286.9 g/t AuEq(274.0 g/t Au, 5.4% Sb) from 308.5 m
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1.6 m @ 59.8 g/t AuEq(55.3 g/t Au, 1.9% Sb) from 313.8 m, including;
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0.6 m @ 166.4 g/t AuEq(154.0 g/t Au, 5.2% Sb) from 313.8 m
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SDDSC210(east to west): Six vein sets intersected, 10 m to18 m along strike and 40 m to 60 m vertically including two high-grade cores, one of which had not previously been recognised, returning two individual assays exceeding 100 g/t Au and three exceeding 10% antimony:
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1.7 m @ 19.6 g/t AuEq(14.4 g/t Au, 2.2% Sb) from 468.7 m, including;
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0.3 m @ 111.2 g/t AuEq(81.8 g/t Au, 12.3% Sb) from 469.5 m
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0.3 m @ 58.8 g/t AuEq(35.8 g/t Au, 9.6% Sb) from 471.6 m
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0.2 m @ 252.3 g/t AuEq(227.0 g/t Au, 10.6% Sb) from 479.9 m
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7.4 m @ 1.8 g/t AuEq(0.8 g/t Au, 0.4% Sb) from 486.8 m
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2.5 m @ 9.8 g/t AuEq(8.0 g/t Au, 0.8% Sb) from 498.2 m, including;
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0.7 m @ 32.6 g/t AuEq(28.3 g/t Au, 1.8% Sb) from 499.4 m
Project Totals to Date
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255 drill holes for 119,575.01 m reported from Sunday Creek since late 2020
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85 composite intersections exceeding 100 g/t Au by applying a 1 m (down hole length) @ 5 g/t AuEq lower cut.
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104 composite intersections exceeding 10% Sb by applying a 1 m (down hole length) @ 5 g/t AuEq lower cut.
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46 holes pending results, additional drill rig added to site taking the total to 11 actively drilling on the project.
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200,000 m drill program continuing through to Q1 2027
Drill Hole Discussion
Six drill holes are reported here targeting the Golden Dyke prospect, drilled in alternating east-to-west and west-to-east orientations to optimize high intersection angles across the steeply dipping vein architecture.
SDDSC193
SDDSC193, drilled east-to-west, targeted the eastern downdip extension of Golden Dyke, intersecting three vein sets approximately 40 m to 60 m down-dip of SDDSC141 (2.3 m @ 4.6 g/t AuEq (3.4 g/t Au, 0.5% Sb) from 448.8 m) and returning high-grade results including 1.7m @ 31.6 g/t AuEq(31.5 g/t Au, 0.0% Sb) from 454.0 m.
One individual assay exceeded 100 g/t Au (Golden Dyke):
254 g/t Au& 0.03% Sb over 0.20 m from 454.92 m
One individual assay exceeded 10% antimony (Rising Sun):
21.20% Sb& 12.0 g/t Au over 0.20 m from 126.30 m
The hole also intersected the upper Rising Sun structure approximately 150 m vertically below surface, returning 3.7 m @ 15.8 g/t AuEq(12.9 g/t Au, 1.2% Sb) from 163.6 m.
Selected highlights include:
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0.6 m @ 27.1 g/t AuEq(9.3 g/t Au, 7.4% Sb) from 126.3 m, including;
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0.6 m @ 27.1 g/t AuEq(9.3 g/t Au, 7.4% Sb) from 126.3 m
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2.6 m @ 3.9 g/t AuEq(3.7 g/t Au, 0.1% Sb) from 151.3 m
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3.7 m @ 15.8 g/t AuEq(12.9 g/t Au, 1.2% Sb) from 163.6 m, including;
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1.2 m @ 45.3 g/t AuEq(36.7 g/t Au, 3.6% Sb) from 165.4 m
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0.3 m @ 51.4 g/t AuEq(51.4 g/t Au, 0.0% Sb) from 412.0 m, including;
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0.3 m @ 51.4 g/t AuEq(51.4 g/t Au, 0.0% Sb) from 412.0 m
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1.7 m @ 31.6 g/t AuEq(31.5 g/t Au, 0.0% Sb) from 454.0 m, including;
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0.2 m @ 254.1 g/t AuEq(254.0 g/t Au, 0.0% Sb) from 454.9 m
SDDSC197
SDDSC197, drilled west-to-east, expanded the western extension of Golden Dyke 50 m outside the current Exploration Target within 200 m of the surface and expanded the western edge of Golden Dyke 30 m west and 400 m below the surface.
Selected highlights include:
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5.4 m @ 2.0 g/t AuEq(1.1 g/t Au, 0.4% Sb) from 230.1 m
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9.6 m @ 1.4 g/t AuEq(0.5 g/t Au, 0.4% Sb) from 496.4 m
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0.7 m @ 29.5 g/t AuEq(28.8 g/t Au, 0.3% Sb) from 552.1 m, including;
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0.25 m @ 75.6 g/t AuEq(74.8 g/t Au, 0.3% Sb) from 552.1 m
SDDSC203
SDDSC203, drilled east-to-west as an infill hole 10-18m along strike of SDDSC210 (this release) and 40 m to 60m vertically between SDDSC177 (October 23, 2025)and SDDSC130 (September 5, 2024), intersected five vein sets and returned multiple high-grade intercepts including three individual assays exceeding 100 g/t Au and one individual assay exceeded 10% antimony:
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274 g/t Au& 5.39% Sb over 0.14 m from 308.48 m
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154 g/t Au& 5.18% Sb over 0.55 m from 313.80 m
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107 g/t Au& 8.00% Sb over 0.22 m from 341.13 m
11.70% Sb & 0.2 g/t Au over 0.10 m from 350.35 m
Selected highlights include:
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5.4 m @ 8.7 g/t AuEq(8.2 g/t Au, 0.2% Sb) from 304.8 m, including;
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0.1 m @ 286.9 g/t AuEq(274.0 g/t Au, 5.4% Sb) from 308.5 m
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1.6 m @ 59.8 g/t AuEq(55.3 g/t Au, 1.9% Sb) from 313.8 m, including;
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0.6 m @ 166.4 g/t AuEq(154.0 g/t Au, 5.2% Sb) from 313.8 m
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0.8 m @ 20.1 g/t AuEq(19.8 g/t Au, 0.1% Sb) from 324.9 m, including;
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0.8 m @ 20.1 g/t AuEq(19.8 g/t Au, 0.1% Sb) from 324.9 m
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2.8 m @ 10.6 g/t AuEq(9.0 g/t Au, 0.7% Sb) from 340.8 m, including;
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0.2 m @ 126.1 g/t AuEq(107.0 g/t Au, 8.0% Sb) from 341.1 m
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3.0 m @ 3.6 g/t AuEq(0.6 g/t Au, 1.3% Sb) from 468.0 m
SDDSC206
SDDSC206 was drilled as a control hole to characterise and confirm position of the dyke and surrounding altered sediments in the vicinity of the planned Exploration Decline (November 27, 2025), the drillhole intersected a ~15 m zone of altered sediments and dyke splays.
SDDSC210
SDDSC210, drilled east-to-west as an infill hole 10 m to 18 m along strike of SDDSC203 (this release) and 40 m to 60 m vertically between SDDSC177 (October 23, 2025)and SDDSC130 (September 5, 2024), intersected six vein sets including two high-grade cores, one of which had not previously been recognised, and returned exceptional results including two individual assays exceeding 100 g/t Au and three individual assays exceeding 10% antimony:
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209 g/t Au& 10.30% Sb over 0.10 m from 469.53 m
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227 g/t Au& 10.60% Sb over 0.19 m from 479.91 m
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13.30% Sb& 18.2 g/t Au over 0.20 m from 469.63 m
Selected highlights include:
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1.7 m @ 19.6 g/t AuEq(14.4 g/t Au, 2.2% Sb) from 468.7 m, including;
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0.3 m @ 111.2 g/t AuEq(81.8 g/t Au, 12.3% Sb) from 469.5 m
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0.3 m @ 58.8 g/t AuEq(35.8 g/t Au, 9.6% Sb) from 471.6 m
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0.2 m @ 252.3 g/t AuEq(227.0 g/t Au, 10.6% Sb) from 479.9 m
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7.4 m @ 1.8 g/t AuEq(0.8 g/t Au, 0.4% Sb) from 486.8 m
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2.5 m @ 9.8 g/t AuEq(8.0 g/t Au, 0.8% Sb) from 498.2 m, including;
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0.7 m @ 32.6 g/t AuEq(28.3 g/t Au, 1.8% Sb) from 499.4 m
SDDSC211
SDDSC211 was drilled east-to-west into the hanging wall of the Golden Dyke system as a bounding hole of the mineralized system.
These results continue to expand and infill the Golden Dyke prospect, with numerous individual assays exceeding 100 g/t Au and 10% Sb, highlighting the increasing high-grade nature of the system and demonstrating that its edges remain open in multiple directions.
Pending Results and Update
Eleven drill rigs are currently operational on the Sunday Creek project. Results are pending from 46 holes currently being processed and analyzedincluding ten holes that are actively being drilled and one abandoned hole (Figure 2). The Company continues its ongoing 200,000 m drill program through to 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, Golden Dyke and Rising Sun these individual 'rungs' have been defined over 600 m depth extent from surface to over 1,200 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, 255 drill holes for 119,575.01 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 drill holes for 2,383 m have been reported regionally outside of the main Sunday Creek drill area with six additional regional holes currently being processed. 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 eighty-five (85) composite intersections exceeding 100 g/t Au and seventy-four (74) composite intersections between 50 g/t and 100 g/t Au, and one-hundred and four (104) composite intersections exceeding 10% Sb by applying a 1 m (down hole length) @ 5 g/t AuEq lower cut.
Southern Cross Gold's systematic drill program is strategically targeting these significant vein formations, which are currently defined over 1,550 m strike of the host dyke/sediment ("rails of the ladder") from Christina to Apollo prospects, of which approximately 650 m has been more intensively drill tested (Golden Dyke to Apollo). At least 115 '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 2).
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 5 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 50% to 80% 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.
Critical Metal Epizonal Gold-Antimony Deposits
Sunday Creek (Figure 5) 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.
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), is defining a leading gold-antimony project at the Sunday Creek Gold-Antimony Project, located 60 km north of Melbourne. Sunday Creek is a significant gold and antimony drill discovery in a Tier 1 location, with high-grade drill results including 85 composite intersections exceeding 100 g/t Au from 119.6 km of drilling. The mineralization follows a "Golden Ladder" structure over 12 km of strike length, with structures tested from surface to 1,100 m depth.
Sunday Creek's strategic value is enhanced by its dual-metal profile. The Company has a critical mineral the Western world needs. This has gained increased significance following China's export restrictions on antimony, a critical metal for defence 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, delivering milestone by milestone.
Ends -
For ASX Compliance: 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
mb@southerncrossgold.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, is the Qualified Person 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.