Explorer Uncovers High-Grade Gold in Victoria

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Golden Cross Resources Ltd. (AUX:TSXV) has reported initial assay results from its Reedy Creek project in Victoria, Australia. The company completed over 2,300 meters of diamond drilling across ten holes, with early results confirming orogenic gold mineralization consistent with regional systems such as Fosterville and Costerfield.

Assays from the first three holes, totaling 393.21 meters drilled at the Prince of Wales target, include an intercept of 10.8 meters at 2.08 grams per tonne (g/t) gold, with a higher-grade interval of 0.5 meters at 24.4 g/t gold. Golden Cross also conducted resampling of historical core, which returned notable intervals, including 23 meters at 3.01 g/t gold in hole RWB10, 9 meters at 3.64 g/t gold in RWB12, and 10 meters at 2.81 g/t gold in RWB13.

Geological features observed in the core, such as laminated quartz veins, arsenic halos, and visible gold, align with characteristics of Victorian-style epizonal gold systems. Visible gold was reported at 40.5 meters in PWD004, and additional surface samples near drill collars also showed mineralization. Trace stibnite, an ore of antimony, was observed in quartz veining in hole SHD002, with final assays pending.

Matthew Roma, CEO of Golden Cross, stated in the news release, "The geological interpretations identified to date are very encouraging, suggesting a strong possibility that this area could host a significant Victorian-style gold deposit at greater depths." VP Exploration Alan Till added that the company's structural targeting approach "has successfully delivered high-quality structural information, materially improving the three-dimensional targeting model used at Reedy Creek."

All drill holes completed to date have intersected gold mineralization within arsenic halos. The company believes these halo signatures may indicate proximity to the core of the gold-bearing system. Structural and geochemical data are being used together to guide deeper Phase 2 drilling, which aims to test primary mineralized zones more effectively.

Gold Sector Attracts Record Capital Amid Climbing Prices and Geopolitical Tensions

The gold sector experienced record capital inflows in the third quarter of 2025 as gold prices continued to rise into October, briefly touching a new all-time high late in the month. On September 30, Bloomberg reported that gold had gained more than 10% in September alone, with analysts pointing to rising fiscal and geopolitical uncertainty — including the U.S. government shutdown — as key factors reinforcing the metal's appeal as a defensive asset.

Also on September 30, Goldman Sachs Research published a market outlook highlighting several drivers of recent price strength. Analyst Lina Thomas cited continued central bank purchases and the likelihood of easing monetary policy by the U.S. Federal Reserve as major contributors to gold's momentum. According to survey data included in the report, 95% of central banks anticipated an increase in global gold reserves over the coming year, with emerging markets expected to lead demand growth.

While the broader outlook remains constructive, some analysts urged caution. In his September 30 newsletter, technical analyst Stewart Thomson noted that gold had recently reached a technical target of US$3,800 per troy ounce. He warned that short-term corrections could occur amid ongoing fiscal pressures and elevated geopolitical risk but maintained that prices above US$3,000 remained favorable for most gold producers. Thomson suggested that conservative investors consider limiting profit-taking to roughly 30% of their positions.

On October 1, Rocks Daily reported that gold mining companies raised a record amount of capital through share issuances during the third quarter. The publication noted that proceeds from equity financing reached the highest quarterly total ever recorded in the sector. The surge in capital markets activity reflected investor confidence in gold producers and a renewed appetite for exposure to the metal amid persistent market volatility.

Positive Coverage Underscores Exploration Momentum

On October 1, Bob Moriarty of 321gold.com described the initial assay results from Golden Cross Resources' Reedy Creek project as "remarkable," pointing to several high-grade intervals including 10.8 meters of 2.08 g/t gold with 0.5 meters of 24.4 g/t gold from 28 meters downhole. He also noted the strength of previously unexamined historical drill core, citing intervals such as 23 meters of 3.01 g/t gold, 9 meters of 3.64 g/t gold, and 10 meters of 2.81 g/t gold.

According to Moriarty, "Golden Cross just unveiled remarkable findings" from the early phase of its ten-hole drill program and emphasized that a fully financed 10,000-meter Phase 2 campaign was already underway. He highlighted the company's land position in a prolific gold region of Victoria, Australia, and drew attention to the company's leadership, stating that CEO Matt Roma had previously helped launch Snowline Gold Corp., which grew from CA$0.185 to over CA$11.00 per share.

Moriarty concluded that "Golden Cross possesses Southern Cross potential alongside Snowline," citing the geological similarities and strategic positioning of the Reedy Creek project.

Moriarty concluded that "Golden Cross possesses Southern Cross potential alongside Snowline," citing the geological similarities and strategic positioning of the Reedy Creek project.

The next day, on October 2, Jeff Clark issued a positive review of Golden Cross in his newsletter coverage of select gold and uranium companies. He confirmed the presence of orogenic gold mineralization at Reedy Creek and highlighted high-grade intercepts such as 0.5 meters at 24.4 g/t gold and broader intervals like 23 meters at 3.01 g/t gold.

According to Clark, "the good news is there is evidence of 'ladder-style' veins and pathfinder halos," which he noted support the interpretation that Reedy Creek mirrors known systems in the region. He described the quartz veins as "found in folded marine sedimentary rocks," consistent with Victorian-style gold deposits.

Clark also emphasized the structural and geochemical significance of early results and stated, "These were short holes, and the results help the team vector in on the deeper targets." He issued a "Buy on Weakness" recommendation for Golden Cross and maintained an overweight position in the stock, pointing to the company's fully funded 10,000-meter Phase 2 program and anticipated steady news flow from pending assays as key drivers of ongoing investor interest.

Scaling the Ladder at Reedy Creek

Golden Cross is currently executing a fully funded 10,000-meter diamond drill program at Reedy Creek, with two rigs active on site. This follows the completion of the initial 2,000 meters of drilling and coincides with the integration of updated geochemical and structural data from both recent and historical work. According to investor materials, the drill strategy is informed by the "Testing the Ladder" methodology, a model designed to define gold-bearing quartz veins in stacked vertical intervals. This technique has seen success at other regional projects such as Sunday Creek.

The company is also leveraging artificial intelligence technology through a 12-month agreement with VRIFY, whose data modeling platform was used in the discovery process at Southern Cross Gold's Sunday Creek project. The platform is expected to assist Golden Cross in identifying deeper targets and refining exploration efforts across its 445-square-kilometer land package.

Recent exploration efforts have focused on identifying the structural and lithological controls on gold mineralization at the regional scale. Golden Cross is prioritizing arsenic anomalies and laminated quartz vein structures to vector future drill targets. The team has highlighted that these pathfinders and associated gold mineralization have been confirmed in multiple zones, including Prince of Wales, Shepherd's Hill, and Thompson's Ridge.

Golden Cross's land position sits adjacent to a major discovery and within a region experiencing increased gold production and exploration activity. With approximately 33% insider and close associate ownership and a management team experienced in resource development and capital markets, the company is focused on advancing exploration with the goal of refining its geological model and expanding its understanding of the mineralized system.

Ownership and Share Structure

According to Refinitiv, about 3.28% of the company is owned by insiders and management, and the rest is retail.

Top investors include Roma with 0.63%, Director Darryl Cardey with 1.29%, and Director Nicholas Rowley with 1.36%.

As of October 6, Golden Cross has a market capitalization of CA$59.58 million, with about 74.5 million shares outstanding. The stock has traded within a 52‑week range of CA$0.42 to CA$0.95.