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SXG - SOUTHERN CROSS GOLD LIMITED


nipper
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Southern Cross Gold (SXG) 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 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 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 and its Costerfield mine exploration tenements and on a parallel north south structure 24 kilometres east of Agnico Eagle Fosterville mine.
Fosterville and Costerfield are two of the highest grade underground gold mines in the world. 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.

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Southern Cross GOLD should not be confused with another company Southern Cross Goldfields (SXG) which was listed a decade ago but went into administration.

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
   
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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  • nipper changed the title to SXG - SOUTHERN CROSS GOLD LIMITED

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