Southern Cross Gold Consolidated (ASX:SX2) said the results from two drill holes at the Golden Dyke prospect in its Sunday Creek gold-antimony project in Victoria demonstrated continuity of high-grade mineralization, according to a Thursday Australian bourse filing.
One of the drill holes delivered three significant intercepts above 50 gram-meters gold equivalent, including 5.4 meters at 29.6 grams-per-tonne grade of gold.
This mineralization represents a new structural position within the mineral system, which may lead to the discovery of additional parallel structures, per the filing.
Its shares rose 8% in early trading on Thursday.
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