Southern Cross Gold Maintained at Buy at Stifel Canada After Sunday Creek Results; Price Target Kept at C$12.50

MT Newswires Live03-17 23:18

Stifel Canada on Tuesday reiterated its buy rating on the shares of Southern Cross Gold Consolidated (SXGC.V) and its C$12.50 price target after the company released drilling results from its Sunday Creek project in Australia.

"We continue to gain confidence in the geologic model and exploration strategy at the Sunday Creek Gold-Antimony Project in Victoria (Australia) with Southern Cross just releasing four new drill holes from the upper Apollo prospect. The new holes delivered high grade gold-antimony mineralization demonstrating continuity and predictability of upper Apollo. SDDSC200 returned 17.3m @ 22.9g/t AuEq, representing the highest-grade intersection recorded within top 220m vertical of Apollo, stepping a further 40m below SDDSC199 and identified a previously unrecognized vein set. Sunday Creek now has 81 composite intersections exceeding 100g/t by applying a 1m @ 5g/t AuEq lower cut from 114.8km of drilling. SXGC currently has 10 rigs operating as part of an ongoing 200,000m program scheduled through Q1/27 with results pending for 46 holes," analyst Ralph Profiti wrote.

(MT Newswires covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://www.mtnewswires.com/contact-us)

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