Golden Cross Confirms System-Scale Gold Mineralization and Commences First Ever Drilling at High Priority Aurora Target
Golden Cross Confirms System-Scale Gold
Mineralization and Commences First Ever
Drilling at High Priority Aurora Target
Highlights
4,000 metres drilled across 15 diamond holes at Reedy Creek confirming a large, continuous
orogenic gold system, with gold intersected in every drillhole to date.
Consistent gold mineralization with well-developed arsenic halos confirms drilling is intersecting
the upper levels of a vertically extensive system, with geochemical and structural vectoring now
pointing toward stronger mineralization at depth.
Structural and geochemical signatures display clear parallels with major Victorian gold systems
including Fosterville and Costerfield, where high-grade mineralization strengthens below arsenic-
dominant upper zones.
Maiden modern drilling has commenced at the Aurora Prospect
, a historically significant,
never-before-drilled target located on the fold hinge of the Reedy Creek Anticline, interpreted to
have potential for broader and more continuous high-grade gold mineralization.
Golden Cross is the first exploration company to secure land access to
Aurora
, a high priority
target since the acquisition of Reedy Creek given its structural position and extensive history of
artisanal mining.
Assay results remain pending from Welcome Reef and Empress Reef, expected to refine targeting
further and provide upcoming news flow.
Vancouver, British Columbia--(Newsfile Corp. - December 15, 2025) -
Golden Cross
Resources
(TSXV: AUX) (OTCQB: ZCRMF) (FSE: ZMLO)
("Golden Cross" or the "Company")
is
pleased to provide the following update on its ongoing exploration at the Reedy Creek Project, Victoria,
Australia, where drilling, mapping, and structural analysis have confirmed a large orogenic gold system
extending across multiple targets.
Drilling to date has intersected gold mineralization in every drillhole, accompanied by well-developed
arsenic halos that are characteristic of the upper levels of major Victorian gold systems. Structural
interpretation and geochemical vectoring now indicate increasing prospectivity at depth, consistent with
the architecture observed at deposits such as Fosterville and Costerfield. With exclusive land access
now secured, Golden Cross has commenced the first modern drill testing at the high-priority Aurora
Prospect, marking a key step toward testing for thicker and higher-grade gold zones.
Golden Cross CEO, Matthew Roma, States:
"Every hole drilled to date has intersected gold with well-developed arsenic halos, confirming that we are
operating in the upper levels of a larger orogenic gold system. The grades we're seeing near-surface,
coupled with our structural data, are now pointing us toward where the system gets stronger at depth,
and the never before drill-tested Aurora prospect is emerging as the most compelling location to test for
thicker, higher-grade veins. Rock chips returning up to
5.22 g/t Au
highlight the strength of the system at
surface and reinforce Aurora as a compelling drill target with room to grow at depth. We view this
systematic, technical progress as a positive step in the right direction toward making a discovery."
Gold Intersected in Every Drillhole Confirms System-Scale Mineralization
Assay results received to date confirm that all diamond drillholes completed at Reedy Creek have
intersected gold mineralization, supported by consistent arsenic pathfinder halos. This widespread
mineralization confirms the presence of a large, continuous orogenic gold system rather than isolated
vein occurrences. The distribution of gold and arsenic is interpreted to represent the upper portions of
the system, providing important vectoring information to guide deeper follow-up drilling.
Reedy Creek Drilling Overview
Golden Cross has now completed 4,000m across 15 diamond drillholes at the Reedy Creek Project. Of
these 15 holes, 3 were previously reported (see News Release dated 29
th
September 2025), 8 are
reported in this news release and 4 remain pending assay results. Drilling initially focused on confirming
the presence of multiple vein sets, variable silicification and zones of sulphide mineralization consistent
with orogenic-style systems. Drilling has now moved to targeting structures at the recently unlocked
Aurora prospect.
As reported in the announcement on September 29, 2025, the maiden drilling was designed to prioritize
structural information to develop a precise three-dimensional exploration model to effectively target
second phase deeper drilling aimed at testing the greatest potential for mineralization ("testing the
ladder" method).
Drilling to date has successfully intersected multiple target vein sets and associated zones of alteration,
with orientated core providing key structural data such as measured vein orientations and fault
relationships for Phase 2 drilling.
Maiden Drilling Underway at the Aurora Prospect
Maiden drilling has commenced at the Aurora Prospect, a high-priority target located at the northwestern
end of the Reedy Creek Goldfield, interpreted to represent one of the most prospective structural
positions within the project.
Aurora is one of the most historically significant areas within the Reedy Creek goldfield. Artisanal mining
was carried out at Aurora in the late 1800s, and the scale of the historical workings is much larger than
other areas mapped to date. The presence of well-preserved historic underground mining tunnels
provides rare access for mapping and systematic sampling, offering exceptional geological insight.
Golden Cross has recently secured land access to the prospect, the first exploration company to do so
since the end of artisanal mining in the 1800s. With access in place, Golden Cross is now conducting
the first modern drill testing of the Aurora zone, with drilling recently initiated as part of the ongoing
exploration program.
Results from earlier drilling at Shepherd's Hill have further refined the geological model and directed the
Company's focus toward Aurora, where establishing continuity between historic gold mineralization and
potential mineralization at depth represents a key objective of the current drill program. Aurora is
expected to play a key role in the next phase of exploration as drilling continues and results are received.
Figure 1: The Reedy Creek Goldfield, viewed to the northwest looking along the trend of the Reedy
Creek anticline. This view shows the relationship between Shepherd's Hill, Prince of Wales,
Thompson's Ridge, and Aurora.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/5159/278018_b436d5a7d450aa99_002full.jpg
Aurora Geological Mapping Confirms Gold and Pathfinder Signatures
As in the rest of the Reedy Creek Goldfield, mineralization at Aurora has developed within associated
shear zones developed within turbiditic siltstones, sandstones, and black-shale sequences.
Structural mapping has shown Aurora is situated along the F1 fold hinge of the Reedy Creek Anticline,
compared to Prince of Wales, which is situated on a northern parasitic fold limb (Figure 1).
Rock chip samples collected during the Aurora mapping program confirm the presence of gold
associated with arsenic. The best of these samples returned 5.22 g/t Au with 8,350 ppm As (Table 1).
Geological analysis describes the alteration as dominated by silica-sericite-carbonate with a well-
defined arsenic halo, consistent with an upper-system orogenic position.
Combined, the structural and geochemical data suggest that the Aurora Prospect has the potential to
host broader, more laterally extensive targets compared with steeper shoots at nearby prospects (e.g.,
Prince of Wales).
Figure 2: Underground workings at Aurora from the 1800s showing the black shales and sandstone
host units.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/5159/278018_b436d5a7d450aa99_003full.jpg
Figure 3: Golden Cross Resources' Reedy Creek Project.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/5159/278018_b436d5a7d450aa99_004full.jpg
Shepherd's Hill: Early Gold Intercepts Provide Key Vectoring Information for Follow-Up Drilling
Further to the Company's news release dated 29
th
September 2025 announcing results from 393.21
metres of drilling on the first three holes at the Prince of Wales prospect, assays have now been
received for the four maiden drillholes at Shepherd's Hill, as well as a further four drillholes completed at
Wieneroider Ridge, Thompson's Reef, and Prince of Wales prospects, totalling 2,085 metres.
The most recent drilling reported here was completed at Shepherd's Hill, which is located southeast of,
and adjacent to, the highly prospective Aurora Prospect, where drilling is now underway. The first pass
drilling at Shepherd's Hill aimed to test the quartz reef system there and provide structural orientation to
future drill programs. Highlights from the Shepherd's Hill and Prince of Wales drilling include:
SHD002:
2.70m @
1.13 g/t Au
from 201.50m
Includes 0.60m @
2.92 g/t Au
from 203.10m
SHD003:
1.00m @
1.815 g/t Au
from 274.00m
SHD004:
1.00m @
0.93 g/t Au
from 213.00m
PWD008:
4.00m @ 0.86 g/t Au from 58.00m
Includes 1.00m @
1.88 g/t Au
from 61.00m
Importantly, every drillhole to date has shown well defined arsenic halos surrounding the gold-bearing
quartz veins, with lower-grade gold halos linking nearby reefs. This correlation between the gold and
arsenic is an important pathfinder tool that is enabling the company to vector in on gold mineralization.
To view full results, please click
here
.
Figure 4 - Long Section through the Reedy Creek Goldfield showing all drilling to date over the current
geological model of the system.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/5159/278018_b436d5a7d450aa99_005full.jpg
Geological Model Strengthening, Clear Parallels to Victorian Gold Systems
Golden Cross is executing a model-driven exploration program, with oriented diamond drilling guided by
detailed structural mapping and interpretations of LiDAR and historical data. Structural and geochemical
results from the initial phase have been integrated into a robust geological model, which continues to
evolve as new drilling data is incorporated.
The Company believes it has unlocked key insights critical to understanding Reedy Creek mineralization
and importantly, has identified clear commonalities with other on-trend Victorian gold systems, including
Fosterville and Costerfield.
One potential parallel with Fosterville is the presence of depth-related sulphide zonation at Reedy Creek:
at Fosterville, gold and sulphide assemblages change systematically with depth, defining the
architecture of the system, this pattern is now emerging at Reedy Creek (Figure 5).
Applying a Fosterville-style zonation pattern to our own long section of Reedy Creek suggested the
presence of antimony to the southeast of the goldfield. A review of historic soil sampling confirmed
elevated antimony in this area. Further confirmation followed with stibnite noted in drill core from
Empress Reef, our southeasternmost drilling to date.
The appearance of this type of sulphide zonation pattern is not wholly surprising as the Reedy Creek
goldfield shares many other characteristics with Fosterville. Both projects feature turbidite-hosted gold
focused in shear zones and fold hinges, with carbonaceous shales aiding fluid trapping. Structural
mapping of Reedy Creek also shows steep vein dips, reverse/oblique kinematics, northwest-trending
structures, and anticlines with lensoid potential, consistent with known Fosterville-style controls and
analogous to the saddle-reefs of Bendigo.
Most importantly, these analogues are now enabling us to test predictions within our own model,
improving targeting confidence.
Figure 5: Reedy Creek long Section showing the Fosterville-style arsenic-gold zonation horizon. Insert
shows an illustration of the Fosterville zonation at the same scale.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/5159/278018_b436d5a7d450aa99_006full.jpg
Results Pending for Empress & Welcome Reefs
Assay results remain pending for drilling completed at Empress Reef, and Welcome Reef (4 holes for
1406 metres of drilling).
Welcome Reef, part of the historic Ti Tree Creek Goldfield first discovered in 1859, is more than just
another historic Victorian goldfield - it is a cornerstone of Australia's gold rush heritage and financial
history. Mining records indicate that at least 9,000 ounces of gold
4
were extracted from the Ah Mouy
mine at Welcome Reef between June 1874 and September 1891, from approximately 10,500 tonnes of
ore grading an average of 25 g/t Au
5
.
The historical production figures cited above are sourced from period records and have not been
verified by the Company's Qualified Person. They are not reported in accordance with NI 43-101, should
not be relied upon, and are not necessarily indicative of mineralization on the Company's property or of
future exploration results. Please refer to the "Cautionary Statement" at the end of this news release for
further information regarding reliance on historic resources.
Historical reports note that the width and length of the vein increased with depth, and grades remained
remarkably consistent throughout the ore body
6
- an encouraging sign that the system may be far from
exhausted. Golden Cross plans to drill beneath the historic workings at Welcome Reef testing for gold
mineralization. The drill design will be based on detailed structural mapping of the historic workings
currently underway at the Welcome Reef area.
At Empress Reef, the southeasternmost drilling to date along the Reedy Creek goldfield, drill core shows
the presence of quartz carbonate veins containing multiple sulphide species such as sphalerite,
chalcopyrite, and arsenopyrite as well as stibnite (Figure 6). These sulphide species are important
pathfinders to potential gold mineralization.
Figure 6: Stibnite seen in Welcome Reef core at 320m in WMD002. Sphalerite, chalcopyrite, and
stibnite seen in core from Empress Reef at 262m in ERD002. Assay results pending.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/5159/278018_b436d5a7d450aa99_007full.jpg
Table 1: Rock chip sample results from the Aurora Prospect.
Sample ID
Easting
Northing
RL
Au (g/t)
As (ppm)
Sb (ppm)
0201
332324.467
5875040.534
497.000
0.353
337
28
0202
332395.971
5875055.589
472.000
1.325
3860
53
0203
332395.971
5875055.589
472.000
0.130
474
40
0204
332469.855
5875184.750
474.000
5.010
174
16
0205
332179.433
5875252.066
469.000
5.220
8350
99
0206
332179.433
5875252.066
469.000
0.537
460
218
0207
332880.120
5874479.139
472.000
2.860
2230
34
0208
332909.244
5874509.654
484.000
0.618
743
31
0209
331999.889
5875407.201
502.000
0.338
264
36
0210
331937.692
5875482.361
472.000
1.145
708
31
0211
331843.349
5875532.714
432.000
0.416
790
37
Sources:
(1.)
https://portergeo.com.au/database/mineinfo.php?mineid=mn230
.
(2., 3.) Kirkland Lake Gold. Kirkland Lake Gold Extends High-Grade Mineralization at Depth on the Lower Phoenix Gold System and Reports a Record
High-Grade Drill Result From the Fosterville Gold Mine, Jan 17, 2017.
(4., 5., 6.) Corlett, S., Annual Report on EL 3746 - Flowerdale, 1996.
QA/QC and Analytical Procedures
All samples reported from the current drilling program, as well as the rock chip samples collected during
the structural mapping campaign were processed under the Company's QA/QC protocol. Samples were
prepared and assayed at ALS Laboratories using industry-standard methods. The Company's QA/QC
program includes insertion of certified reference materials, blanks and field duplicates at regular
intervals. Assay data is validated and reviewed for quality as part of routine data verification.
In addition to the Company's QAQC practices, when assessing gold assays, the company re-submits
any sample interval that reports over 2g/t Au for analysis via Screen Fire Assay. Screen Fire Assays
separate and measure both coarse and fine gold fractions, improving accuracy and reproducibility of
nuggety samples and providing a clearer estimate of total gold content.
The QAQC regime for the sample batches of the Re-assay Program was modified as essentially every
sample in the program was a duplicate of a known result. Regular insertion of standards was replaced
with strategic insertion centred around confirmation of higher-grade samples. While sampling of
previously untested intervals from historic drilling was subject to the Company's regular QAQC protocols.
The original assays from GPAC's drill programs, as reported by GPAC, were all subject to quality control
measures appropriate for percussion drilling with duplicates, blanks and commercially available
standards with the expected results from the samples submitted. All assays were conducted by Onsite
Laboratory Services Ltd (ISO: 9001), located in Bendigo, Victoria, using fire assay techniques with a
25g or 50g charge and ICP or AAS finish. The quality control results are consistent.
Qualified Person
All scientific and technical information in this news release has been prepared or reviewed and
approved by Alan Till, the Company's Vice President Exploration, a "qualified person" as defined by NI
43-101.
About Golden Cross Resources
Golden Cross Resources
(TSXV: AUX) (OTCQB: ZCRMF)
is a Canadian mineral exploration
company focused on advancing the Reedy Creek gold project in Victoria, Australia. Located just 10
km from Southern Cross Gold's Sunday Creek discovery, the project covers two contiguous
tenements in one of Australia's most active epizonal gold corridors.
For more information:
Matt Roma, Director & CEO
+1-778-736-3356
Additional information about Golden Cross can be found on its website:
www.goldencrossresources.com
and at
www.sedarplus.ca
.