Southern Cross Gold (ASX:SX2) is conducting a capital raising via an upsized private placement to raise C$143 million ($161.77 million), which will be used to fund several activities within the Victorian Goldfields region of Australia.

The emerging gold-antimony story at Southern Cross Gold's Sunday Creek project in Victoria has sparked a larger than expected flood of cash into the explorer's coffers.

The allure of finding the next ultra high-grade gold deposit continues to draw explorers to Victoria. Outside of Fosterville, the company to have experienced the most gold exploration success in Victoria is Southern Cross Gold (ASX:SX2).

Victoria-focused gold explorer Southern Cross has flagged another round of exploration success, with drilling within its Sunday Creek project near Melbourne this time extending the mineralisation at the Golden Dyke prospect.

Southern Cross Gold Consolidated has announced its intention to seek approval to construct an exploration tunnel at Sunday Creek.

Gold market darling Southern Cross Gold Consolidated headed to PDAC in Toronto this week armed with good news.