Southern Cross Gold expands Redcastle ownership

Southern Cross Gold (ASX:SXG) has acquired the remaining 30% interest in the Redcastle Gold-Antimony Joint Venture from Nagambie Resources (ASX:NAG). This acquisition makes SXG the sole owner of the Redcastle project, located in Victoria, Australia. The deal was finalized for $250,000, excluding GST, and eliminates any royalty obligations.

Southern Cross Gold's strategic expansion

Southern Cross Gold (ASX:SXG) has successfully acquired full ownership of the Redcastle project, enhancing its exploration and development capabilities in a historically significant goldfield. With the elimination of royalty obligations and the consolidation of its holdings, SXG is well-positioned to explore the 17 km undrilled reef systems at Redcastle. The company plans to apply successful exploration strategies from its Sunday Creek operations to unlock the mineral potential of Redcastle. The acquisition aligns with SXG's strategic goals to expand its portfolio and increase its exploration activities in high-grade gold and antimony resources.

Executive insights on Redcastle acquisition

This acquisition strengthens our position in the Redcastle area, complementing our strategic focus on the Sunday Creek gold-antimony project.