Highlights

  • Sunday Creek exploration decline development reached 435.5 metres by the end of September 2026.
  • The company drilled 17,564 metres during its September reporting quarter.
  • Golden Dyke drilling reported high-grade gold-antimony intersections in October 2026.
  • A maiden resource estimate was targeted for the first quarter of calendar 2027.

Southern Cross Gold Consolidated Limited (ASX:SX2) is advancing a company-specific operating and development programme against the backdrop of its latest reported financial and project milestones. Its shares closed at AUD 8.17 on 3 November 2026, a daily change of -3.66%, with a Market Capitalisation of approximately AUD 1.27B. The company’s disclosed progress spans the activities outlined below, with completed results distinguished from management targets and projects still under development.

Underground Access Advances at Sunday Creek

Southern Cross Gold Consolidated progressed the exploration decline at its Sunday Creek gold-antimony project in Victoria during 2026. Underground development began in June and moved to continuous operations following the granting of an explosives magazine licence in July. By the end of September, decline development had reached 435.5 metres of an approximately 1,131-metre plan. Ground conditions affected advance rates during August, and the company revised its forecast completion to January 2027 from December 2026. Development expenditure remained within the stated budget.

Drilling Tests Multiple Mineralised Zones

The company reported 17,564 metres of drilling during its September reporting quarter using twelve surface rigs, including two assigned to regional exploration. Directional Drilling equipment was introduced in August. At 7 October 2026, the company had reported 288 holes representing 140,849 metres at Sunday Creek. The ongoing drilling programme is intended to improve geological understanding and support a maiden mineral resource estimate targeted for the first quarter of calendar 2027. Drilling intercepts are not themselves a mineral resource.

Golden Dyke Adds High-Grade Results

In October, Southern Cross reported Golden Dyke infill drilling that included 2.7 metres at 178.6 grams per tonne gold equivalent from 662.3 metres in hole SDDSC225. Another hole, SDDSC218, returned 6.8 metres at 50.1 grams per tonne gold equivalent from 537.9 metres. The company said the drilling reduced spacing within part of the tested area and identified additional vein sets outside its current exploration target. These results are localised drill intersections, not representative grades for the entire project.

Permitting and Site Infrastructure Progress

Resources Victoria accepted the first Mining licence application for Sunday Creek on 22 September 2026, covering approximately 30.7 hectares associated with historic Golden Dyke workings. Acceptance of the application is a procedural milestone, not approval to commence mining. Additional requirements include an approved mine work plan and planning permit. At the site, the company also advanced infrastructure works, with the main pad substantially completed and workshop and office facilities in use during the period.

Resource Target and Share Performance

Southern Cross intends to continue its drilling programme into the first quarter of calendar 2027 while preparing for underground drilling platforms as access becomes available. Its shares closed at AUD 8.17 on 3 November 2026, down 3.66%, after trading between AUD 8.11 and AUD 8.48. Market capitalisation was approximately AUD 1.27B. The next technical milestones include additional assays, progress on the decline and the planned maiden resource estimate.