Southern Cross Gold (TSX: SXGC) (ASX: SX2) (OTCQX: SXGCF) (Frankfurt: MV3.F) recently hit a truly huge milestone at its flagship Victorian site. The company updated the Southern Cross Gold Sunday Creek exploration target with absolutely stunning numbers. This historic update turns heads across the entire Australian mining sector.
The new target shows enormous potential for high-grade mineralisation. Investors now see a clear path to long-term value generation. Management believes they hold one of the best pre-production assets globally.
Michael Hudson leads the team with deep confidence and vision. He serves as the managing director and chief executive officer. Hudson confirms the geology simply keeps delivering top-tier results.
Fig 1: Sunday Creek – permit areas [southerncrossgold.com]
Decoding the Exploration Target Update
The updated target numbers reveal the sheer size of this asset. The company estimates 10.4 to 11.9 million tonnes of mineralised material. They project grades ranging from 8.9 to 12.1 grams per tonne gold equivalent.
These figures translate into 3.0 to 4.6 million ounces of gold equivalent. The team built this target using 125 distinct vein set shapes. They constrained these shapes tightly to existing diamond drilling data.
This update expands the strike length significantly from previous estimates. The Southern Cross Gold Sunday Creek exploration target now spans over 1,500 metres. It previously measured only 1,020 metres in length.
The company added new prospects to this growing mineralised footprint. They included the Christina prospect for the very first time. The Golden Dyke and Apollo East areas also added significant volume to the total.
Fig 2: Schematic Plan View [southerncrossgold.com]
Why the Sunday Creek Asset Stands Out
The Sunday Creek gold project Victoria Australia represents a truly unique discovery. This epizonal deposit shares a geological system with the famous Fosterville and Costerfield mines. The site sits just 60 kilometres north of Melbourne.
Southern Cross Gold holds complete 100 percent ownership of the property. They face no commercial royalties on this incredible asset. The team also owns 1,392 hectares of freehold land surrounding the main drill area.
Mineralisation occurs in a series of distinct, steeply dipping vein sets. Geologists compare these formations to a large golden ladder structure. The host rock extends deep into the earth while cross-cutting veins form the rungs.
Drill results consistently demonstrate extremely high grades across multiple zones. The team logged 93 composite intersections exceeding 100 grams per tonne gold. They also recorded 110 intersections exceeding 10 percent antimony.
Fig 3: Sunday Creek – Christina to Apollo Long Section as at April 22, 2026 [southerncrossgold.com]
The Power of Antimony in Today’s Market
Antimony gives the Sunday Creek gold project Victoria Australia a strategic edge. This critical mineral serves vital roles in defence, solar cells, and advanced batteries. The Western world desperately needs a secure supply of this metal.
China and Russia currently control 82 percent of the global antimony supply. Chinese export restrictions recently caused a 97 percent drop in global shipments. The United States faces a gap in its defence stockpile.
Australia recently prioritised antimony in its critical minerals strategic reserve. The Victorian government also created special grants to advance local antimony projects. Southern Cross Gold perfectly positions itself to fill this critical supply gap.
Drilling Program Underway
Southern Cross Gold Australia exploration moves forward at an incredibly rapid pace. The company committed to a 200-kilometre drilling program at Sunday Creek. They plan to run this intensive program straight through to early 2027.
Nine diamond drill rigs currently turn relentlessly on the main site. Two additional rigs test regional targets up to eight kilometres away. The team plans to expand the fleet to 24 rigs by the end of the year.
The company already completed over 130 kilometres of diamond drilling. The core shed currently holds 35 kilometres of core awaiting assay results. The team must drill another 135 kilometres to complete the current phase.
Every single hole extends the known mineralisation or opens a new zone. The target currently captures less than 15 percent of the entire 11-kilometre corridor. Enormous exploration upside remains completely untested along this trend.
Fig 4: Sunday Creek – Plan View as at April 22, 2026 [southerncrossgold.com]
Strong Backing and Cash Reserves
Southern Cross Gold boasts an incredibly strong financial position in the market today. The company holds 123 million Australian dollars in cash as of early 2026. This cash war chest fully funds the entire ambitious exploration program.
They allocated 115 million dollars for the Sunday Creek advancement. The budget dedicates 60 million dollars strictly to diamond drilling. They earmarked another 30 million dollars for underground decline development.
Major global institutions back this ambitious project with serious capital. Franklin Templeton, Konwave, and Schroders hold significant positions in the company. The board of directors also maintains a healthy 4.6 percent ownership stake.
Legendary mining investor Pierre Lassonde serves as a cornerstone shareholder. Lassonde founded Franco-Nevada and brings immense credibility to the register. He rarely invests in pre-production gold stories, making his presence highly notable.
Fig 5: Michael Hudson, President & CEO / Managing Director [southerncrossgold.com]
What Comes Next for Sunday Creek
Southern Cross Gold Australia exploration efforts will yield continuous news flow. Investors can expect regular updates as 68 drill holes currently pend assay results. The team will publish these results steadily over the coming months.
The metallurgical test work continues to show outstanding recovery rates. The non-refractory ore allows for a simple gravity and flotation flow sheet. The process recovers up to 96 percent of the total gold content.
SRK Consulting assists the ASX company with ongoing geological modelling tasks. The team aims to establish sufficient geological and grade continuity soon. This crucial work paves the way for a formal maiden mineral resource estimate.
Southern Cross Gold clearly holds a remarkably rare, sovereign-critical, and high-grade asset. The exceptional geology proves itself continuously with every single deep drill hole. The company executes its strategy flawlessly and drives immense long-term value for all shareholders.
Also read: Top ASX Rare Earth Stocks 2026 That’re Turning Into Real Returns for Australians
FAQ
Q: What is the updated scale and grade of the Sunday Creek Exploration Target?
A: The target expanded to 3.0–4.6 Moz AuEq at exceptionally high grades of 8.9–12.1 g/t AuEq across five prospects along 1,500 m of strike.
Q: Is Southern Cross Gold fully funded to complete its planned 200 km drill program?
A: Yes, the company holds A$123M in cash, providing complete financial runway through Q1 2027 without immediate dilution risk.
Q: Why does the antimony co-product add significant strategic value for shareholders?
A: Antimony accounts for 15–17% of total in-situ asset value while positioning Sunday Creek as a key Western supplier of a defence-critical mineral.
Also read : Sunday Creek Is Just the Beginning: The ASX Gold Stock Quietly Reshaping Victoria’s Mining Future
Disclaimer
This article is meant only for informational purposes. If you are an investor who is watching Mineral Resources Limited closely, all the data published in the content is sourced from ASX announcements and external sources. Kindly verify all information related to the share price and market data. Any investment should be made at the investor’s own risk. Colitco does not hold any position in the above-mentioned Company
Sources:
Luke Carlino is a seasoned Copywriter, Content Strategist, and Social Media Manager specialising in Mining, Finance, and Business journalism. With more than a decade of industry experience, he brings rigorous editorial standards and commercial acuity to every project.
