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The latest update is out from Golden Cross Resources ( (TSE:AUX) ).
Golden Cross Resources has announced the mobilization of a second drill rig at its Reedy Creek high-grade gold project in Victoria, Australia. This move follows a successful C$5 million financing, allowing the company to expand its exploration efforts. The additional rig will double the drilling capacity, enabling the company to test multiple high-priority targets and accelerate its understanding of the geological setting. The financing ensures the company can advance its 6,000-metre drill campaign and explore deeper targets, crucial for understanding the gold mineralization at Reedy Creek. This development marks a significant milestone for Golden Cross as it aims to unlock the full potential of the district-scale project.
More about Golden Cross Resources
Golden Cross Resources is a Canadian mineral exploration company focused on advancing its high-grade Reedy Creek gold project in Victoria, Australia. The project is strategically located near Southern Cross Gold’s Sunday Creek discovery and covers two contiguous tenements in one of Australia’s most active epizonal gold corridors.
Average Trading Volume: 276,491
Technical Sentiment Signal: Buy
Current Market Cap: C$32.18M
Learn more about AUX stock on TipRanks’ Stock Analysis page.