Golden Cross Resources Commences Drilling at its Reedy Creek High-Grade Gold Project in Victoria, Australia
Golden Cross Resources Commences Drilling
at its Reedy Creek High-Grade Gold Project in
Victoria, Australia
Summary:
Golden Cross has commenced drilling at the Reedy Creek Gold Project,
10 km northeast of
and contiguous to Southern Cross Gold's recent Sunday Creek gold discovery
Historical drilling
at Reedy Creek revealed high-grade gold intercepts including
11 m at 31.4
g/t gold and 2 m at 174.42 g/t gold
1
Recent soil geochemical sampling also identified a
~3 km-long gold-in-soil geochemical
anomaly
Fully funded
: Initial 2,000 metres of drilling at key targets will aim to
expand known gold
mineralization
and support an additional fully funded 4,000 metres of drilling
Vancouver, British Columbia--(Newsfile Corp. - June 4, 2025) -
Golden Cross Resources
Corp
(TSXV: AUX) (OTC Pink: ZCRMD)
(
"Golden Cross" or the "Company"
), a company focused on
high-grade gold exploration at the historic Reedy Creek Goldfield in Victoria, Australia, is pleased to
announce it has commenced an inaugural fully funded 6,000-metre phased drill program to test and
expand on key high-grade gold targets.
An initial 2,000-metre diamond drilling program comprises 15 shallow drill holes at the
Prince of Wales
& Wieneroider Ridge
targets within the Reedy Creek Goldfield (
Figure 1, below
). This initial phase has
been guided by LiDAR survey data, a review of recent previous drilling as well as the recently completed
structural mapping. It is designed to systematically improve the structural and geological understanding
of the targets and will aim to expand on the known mineralization. This will be achieved by targeting
interpreted faults, shears, and quartz veins.
Figure 1: Golden Cross' inaugural 6,000 metre drilling program will aim to expand on previously
identified zones of high-grade gold mineralization at the Prince of Wales and Wieneroider Ridge
prospects, shown above.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/5159/254431_aba13944a4edd9f5_002full.jpg
Enhanced geotechnical insight from the early drilling will support a further 4,000m of fully funded drilling.
This drilling will be aimed at investigating extensions to vein systems at depth, as well as testing of
adjacent ladder targets.
The drill targets have been identified from geological mapping of surface workings and are untouched by
modern exploration techniques. They offer the potential to identify previously unrecognized mineralization
that could be incorporated into the broader Reedy Creek exploration model.
Golden Cross Resources will have the option to field additional drill rigs later in 2025. This decision will
be based on drilling results and will be guided by ongoing structural mapping running in support of the
drilling program.
Management Commentary
"
With drilling having commenced at Reedy Creek, our focus is to develop a deeper understanding of the
structural controls on mineralization as we look to expand our drilling program. We expect to announce
initial drill results later this summer," said Golden Cross CEO Matthew Roma.
About the Reedy Creek Project: Historic High-Grade Gold Intercepts
Located just 10 km northeast of Southern Cross Gold's recent Sunday Creek gold discovery, historical
drilling at Reedy Creek points to a potential high-grade gold system. Significant intercepts
1
include:
2.0 m at 174.4 g/t gold
11.0 m at 31.4 g/t gold
These shallow intercepts demonstrate very high gold grades but were never followed up with deeper or
systematic drilling. Golden Cross intends to apply modern structural, geochemical, and geological tools
to define its scale and continuity.
Figure 2: Golden Cross' Reedy Creek Project is located 10 km northeast of Southern Cross Gold's
recent Sunday Creek gold discovery, in Victoria's prolific Lachlan Fold Belt
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/5159/254431_aba13944a4edd9f5_003full.jpg
~3km Gold-in-Soil Anomaly Suggests Potential Large-Scale System
Supporting Golden Cross' 6,000 metre drill campaign this summer is a recently outlined
gold-in-soil
anomaly
stretching more than
3 kilometers
in length and running parallel to a regional anticline -similar
in style to structures hosting mineralization at Sunday Creek. Gold-in-soil anomalies are critical early
indicators of mineralized systems, especially in epizonal deposits where gold is often closely associated
with fault zones and vein swarms near surface
.
The anomaly identified at Reedy Creek aligns with mapped folding and structural complexity, suggesting
the potential for multiple pathways for gold deposition - a key requirement for high-grade, vertically
extensive gold systems
.
"Testing the Ladder": A Strategy That Delivered at Sunday Creek
Golden Cross is adopting the same exploration model that led to the breakthrough discovery at Sunday
Creek: the
"Testing the Ladder"
approach. This strategy focuses on identifying stacked, steeply
dipping high-grade gold bearing quartz veins (the "rungs" of a ladder) that can deliver multiple intercepts
from a single drill hole when drilled at depth. The high-grade quartz veins forming these rungs are
connected by a halo of lower grade mineralization within the intervening host rock.
Shorter historical holes from past drill campaigns could have potentially missed many of these deeper
vein intersections. At Reedy Creek, past drilling at hole RWD01 reported the following grade intervals
2
:
0.8 m @ 21.7 g/t Au from 40.8 m
0.7 m @ 239.64 g/t Au from 68.7 m
By drilling deeper and along structurally favorable trends, Golden Cross aims to define the vertical extent,
continuity, and true size of the potential system.
About Golden Cross Resources
Golden Cross Resources (TSXV: AUX) (OTC Pink: ZCRMD) is a Canadian mineral exploration
company engaged in the advancement of its 100% owned "Reedy Creek" high-grade gold project (the
"Project") in Victoria, Australia, which is comprised of two tenements of land located approximately 10
km northeast of and contiguous to Southern Cross Gold's Sunday Creek gold discovery. Past drilling at
the Project revealed high-grade gold intercepts including 11 m at 31.4 g/t gold and 2 m at 174.42 g/t
gold
1
.
For more information visit:
www.goldencrossresources.com
Qualified Person
The scientific and technical information contained in this news release has been reviewed and approved
by Mr. Alan Till, VP Exploration and a Qualified Person for Golden Cross Resources as defined in
National Instrument 43-101 -
Standards of Disclosure
for Mineral Projects
. Mr. Till has examined
information regarding the historical exploration at Golden Cross' "Reedy Creek" high-grade gold project,
which includes his review of the historical sampling, analytical and procedures underlying the information
and opinions contained herein.
Management cautions that historical results were collected and reported by operators unrelated to
Golden Cross and have not been verified nor confirmed by its Qualified Person; however, the historical
results create a scientific basis for ongoing work in the Golden Cross property. Management further
cautions that historical results, discoveries and published resource estimates on adjacent or nearby
mineral properties, whether in stated current resource estimates or historical resource estimates, are not
necessarily indicative of the results that may be achieved on the Golden Cross property.
References:
1
.
Refers to Fosterville South Exploration news release dated April 27, 2022 (link
here
)
2
.
Refers to Fosterville South Exploration news release dated Oct 14, 2021 (link
here
)
For Further Information, Contact:
Matt Roma, Director & CEO
+1-778-736-3356
FORWARD-LOOKING STATEMENTS
This release may contain forward-looking statements. Forward-looking statements are statements that
are not historical facts and are generally, but not always, identified by the words "expects", "plans",
"anticipates", "believes", "intends", "estimates", "projects", "potential" and similar expressions, or that
events or conditions "will", "would", "may", "could" or "should" occur and include disclosure of
anticipated exploration activities. Although the Company believes the expectations expressed in such
forward-looking statements are based on reasonable assumptions, such statements are not
guarantees of future performance and actual results may differ materially from those in forward
looking statements. Forward-looking statements are based on the beliefs, estimates and opinions of
the Company's management on the date such statements were made. The Company expressly
disclaims any intention or obligation to update or revise any forward-looking statements whether as a
result of new information, future events or otherwise.
Such factors include, among others, risks related to: the accuracy and reliability of historic drilling
results as it relates to planned exploration; the ability of the Company to raise funds for exploration
activities and property maintenance costs at Reedy Creek; reliance on technical information provided
by third parties on any of our exploration properties; changes in project parameters as plans continue
to be refined; current economic conditions; future prices of commodities; possible variations in grade
or recovery rates; failure of equipment or processes to operate as anticipated; the failure of contracted
parties to perform; labor disputes and other risks of the mining industry; delays due to pandemic;
delays in obtaining governmental approvals, financing or in the completion of exploration, as well as
those factors discussed in the section entitled "Risk Factors" in the Company's Management
Discussion and Analysis which is available under Company's SEDAR profile at:
www.sedarplus.ca
Although Golden Cross has attempted to identify important factors that could cause actual actions,
events or results to differ materially from those described in forward-looking information, there may be
other factors that cause actions, events or results not to be as anticipated, estimated or intended.
There can be no assurance that such information will prove to be accurate as actual results and future
events could differ materially from those anticipated in such statements. Golden Cross disclaims any
intention or obligation to update or revise any forward-looking information, whether as a result of new
information, future events or otherwise. Accordingly, readers should not place undue reliance on
forward-looking information.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in
the policies of TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of
this release.
To view the source version of this press release, please visit
https://www.newsfilecorp.com/release/254431