Targeting gold production, unlocking VMS potential
Southern Cross Goldfields is an Australian mining and exploration company offering investors a compelling combination of near term cash flow and outstanding exploration potential.
The Company is focused on the underexplored Marda region of Western Australia, where it is targeting first gold production from its advanced Marda Gold Project in 2013. SXG is also exploring an emerging VMS copper-gold belt at Copper Bore and has 30% interest in the Bullfinch North Nickel Project where Western Areas NL is targeting repetitions of nickel sulphide deposits at Forrestania.
SXG continues to advance its feasibility studies into a gold production hub with initial production of +30,000 oz pa from 2013 from its established JORC resources of ~600,000 oz of gold predominantly in the Marda region. The Company holds an extensive 4,000 km² tenement package and has recently completed a regional exploration potential review. The exploration review has identifed a number of greenfield exploration targets that will be followed up in 2012. Exploration success at its existing deposits and greenfield targets will have positive impacts on the production base and future operational cashflows.
SXG has identified a potential Volcanogenic Massive Sulphide (VMS) field at its Copper Bore Project. Recent drilling and Moving Loop EM surveys have confirmed a 10km strike length with multiple occurrences of copper-gold mineralisation. The area has seen minimal historical drilling below 50m, and Southern Cross Goldfields is the first company to apply modern EM techniques. An intensive exploration program is now underway.
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SXG A$0.037
A$1,617 oz
