Southern Cross Gold directors have exercised in-the-money options in the explorer, raising another A$5.5 million for corporate costs an exploration work on the ground north of Melbourne in Victoria.

While Victoria’s mining and exploration sector is losing market share to other jurisdictions, the government has been taking steps to turn things around releasing a Critical Minerals Roadmap in 2024, and working to streamline the approvals process.

A gold mining "renaissance" in Victoria has marked a major milestone with the approval of the state's first exploration tunnels. Two companies are set to head underground to see if they are sitting on enough lucrative gold to justify a mine. It comes amid record gold prices and a spotlight on Victoria's potential due to the success of Fosterville Gold Mine, 20 kilometres east of Bendigo.

Southern Cross Gold's Sunday Creek project in Victoria shows no signs of tapering off, with a multi-rig drilling program at the pre-resource project 60km north of Melbourne continuing to expand the system.

Southern Cross Gold’s Sunday Creek Project has had a new exploration tunnel approved – and naturally, it has brought significant attention to the project as more minerals could be discovered.

The Victorian government has approved its second exploration decline in as many months, with Southern Cross Gold set to start excavations at the Sunday Creek gold-antimony project next year.