Executive Summary
The Southern Cross project is the Company’s flagship exploration project, prospective for gold mineralisation and located in close proximity to a number of large producing mine sites.
The project covers 175 km² of tenements and includes three key prospects, which the Company expects to examine through a modern, systematic exploration program.
Glendower
The Glendower prospect is located at the site of a historical mine site 10km north of the Marvel Loch mine.
Glendower has a strong history of production, having delivered 360 tonnes at an average grade of 18.6 grams per tonne of gold.
The area is divided into two open and pits – Glendower North and South – and the Company anticipates exploring both regions, as well as the wider region through step-out drilling.
Historic exploration at Glendower has yielded successful results, including: 9m @ 28.41 g/t Au from 33m, including 3m @ 81.15g/t Au
To date, no exploration work has been conducted at a depth lower than 100m, offering the Company opportunity at shallow targets as well as at depth.
Xantippe & Treasury South
The Xantippe and Treasury South prospects are located across contiguous tenements that are approximately 4km north-west of the Marvel Loch mine.
The tenements contain a series of historical workings which date back to the early 1900s, however no modern exploration has been conducted as site. This presents the company with a compelling opportunity within one of the world’s top-tier gold destinations.
Like Glendower, no drilling has been conducted at a depth below 100m, and existing exploration has returned positive results.
At the Xantippe prospect, historical exploration has returned: 13m @ 4.69 g/t Au from 38m.
Results at Treasury South are also encouraging, with a best result of: 2m @ 5.78 g/t Au from 92m.