Gold Explorer Doubles Drilling at High-Grade Victoria Project

Source: Streetwise Reports 07/25/2025

Golden Cross Resources Ltd. (AUX:TSXV) has mobilized a second drill rig at its high-grade Reedy Creek project in Victoria, Australia, aiming to unlock deeper mineral potential and fast-track results. Find out how this fully funded drill program, expert-backed team, and strategic location near a major discovery are positioning this junior gold explorer for potential success.

Golden Cross Resources Ltd. (AUX:TSXV) has announced the mobilization of a second drill rig at its Reedy Creek high-grade gold project in Victoria, Australia. The expansion of its drilling campaign follows the successful completion of a CA$5 million financing, providing the company with the capital necessary to accelerate exploration activities.

According to the company’s July 22 news release, the first phase of the work program included approximately 1,000 meters of drilling, geological mapping, and reassaying. Early results indicated that gold-bearing fluids at Reedy Creek likely migrated along faults intersecting with anticline folding, a geological setting also found in other major Victorian goldfields.

Golden Cross stated that the second drill rig will “double drilling capacity,” enabling the team to test additional high-priority targets and refine the geological model. The company’s current 6,000-meter drill program is fully funded and now positioned to include deeper drilling, which management believes is essential for understanding the structure and extent of gold mineralization at depth.

In a statement, CEO Matt Roma noted, “Mobilizing a second drill rig marks an important milestone for Golden Cross. With strong investor support from our recent financing, we are now in a position to accelerate our exploration program at Reedy Creek.”

The company also disclosed that it has granted Capital Analytica 100,000 incentive stock options with a five-year term at an exercise price of US$0.50 per share, subject to TSX Venture Exchange approval and standard vesting provisions.

Gold Sector Shows Strength Amid Economic Turbulence

The gold sector maintained strong momentum through mid-2025, supported by persistent inflation, global economic uncertainty, and renewed investor demand for safe-haven assets. On July 15, Stewart Thomson of 321gold pointed to cultural and economic factors driving demand, particularly in Asia. “In China, it’s clear that the young citizens are savers, and their favourite vehicle to save is gold,” Thomson wrote, contrasting this with Western markets, where positive economic news often prompts selling. He also cited inflationary pressure and seasonal factors, suggesting that “the brunt of the inflationary pain begins later in the summer” and could lead to a strong rally in metals and mining stocks by October.

That same day, Clive Maund described gold as “in a powerful bull market” in his Gold Market Update. While he acknowledged the possibility of a short-term correction if the U.S. dollar strengthened, he emphasized the sector’s overall health. “The volume pattern is overall positive . . . the Accumulation line has remained strong, even rising to clear new highs,” Maund wrote, noting that any pullback would likely be “shallow and probably quite short-lived.”

On July 16, Kitco reported an intraday swing in gold prices of nearly US$60 amid speculation surrounding the future of Federal Reserve leadership. Gary Wagner highlighted the market’s response to policy uncertainty, stating that “the precious metal’s volatile performance underscores the market’s sensitivity to monetary policy uncertainty and broader economic concerns.” Gold ended the day at US$3,359.10, up US$22.40, with weakness in the dollar contributing to the move.

A July 18 update by Josh Chiat of Stockhead cited World Gold Council data showing that global gold ETF assets under management (AUM) rose 41% in the first half of the year to US$383 billion. Central bank demand remained robust, and ETF holdings reached 3,616 tonnes, the highest month-end level since August 2022. According to the Council, “gold — through its fundamentals — remains well positioned to support tactical and strategic investment decisions in the current macro landscape.”

Analyst Coverage Highlights Positive Outlook on Golden Cross Resources

According to a June 17 article by Danny Brody, Golden Cross was described as “a tight, lean exploration company laser-focused on high-grade gold.” Brody pointed to historical drill intercepts at Reedy Creek, including 11 meters at 31.4 grams per tonne (g/t) gold and 2 meters at 174.4 g/t gold, as notable data points supporting the project’s potential. He emphasized that Golden Cross is applying the “Testing the Ladder” exploration model, a methodology used to delineate ladder-style gold veins through systematic drilling. Brody stated that “Golden Cross is not just another gold junior,” adding that the company has a “proven exploration model, a world-class team, and a tight share structure.”

The same article highlighted the company’s integration of AI-powered mineral exploration tools through its partnership with VRIFY, describing the technology as capable of “identifying high-priority drill targets faster and more accurately.” Brody also noted the strength of the company’s team, including CEO Matthew Roma and VP of Exploration Alan Till, calling them “proven discoverers and dealmakers.” He added that “if there’s gold in them there hills, these guys will find it.”

In a separate July 17 analysis, Jeff Clark of Paydirt Prospector added further support to the company’s outlook. Clark noted that Golden Cross’s flagship Reedy Creek project is “right beside one of this cycle’s biggest gold discoveries” and stated that the company’s team has “an enviable track record of creating value for shareholders.” He highlighted that CEO Matthew Roma had helped raise over CA$150 million in equity capital and was previously involved in successful companies such as Snowline Gold and Gladiator Metals.

Clark further noted that the company’s drill program, which began in June 2025, is targeting the Prince of Wales and Wieneroider Ridge zones and is informed by structural and geochemical mapping. Historical drill data was cited again, including 0.8 meters at 21.7 g/t gold and 0.7 meters at 239.6 g/t gold. Clark stated that “Reedy Creek looks like it might well contain more ‘ladders’ than Sunday Creek” and identified three short-term catalysts: pending assay results, regional exploration activity, and broader trends in gold prices.

In a June 27, interview with Ahead of the Herd, Bob Moriarty of 321Gold described Golden Cross Resources Inc. as a company that “checked so many boxes” he bought additional shares on the open market despite already holding placement shares. He pointed to the company’s strong technical foundation, highlighting Reedy Creek’s ladder-style vein system and the potential economic value of previously overlooked low-grade zones.

Moriarty noted the project’s similarities to the neighboring Sunday Creek discovery, stating that Golden Cross “operates within the identical geological structure, but with actually stronger numbers.” He also emphasized CEO Matthew Roma’s track record, including his role in Snowline Gold’s success, and said the company’s market cap—around US$33 million—remained “absurdly cheap” compared to peers with much higher valuations.

Positioned for Progress in Victoria’s Gold Belt

Golden Cross’s Reedy Creek project is located in Victoria’s historically productive gold region, northeast and contiguous to Southern Cross Gold’s Sunday Creek discovery. According to the company’s investor presentation, drilling between 2021 and 2024 by a prior operator returned high-grade intercepts including 11 meters at 31.4 grams per tonne (g/t) gold and 2 meters at 174.42 g/t gold. These results suggest the area may host epizonal gold mineralization similar to other nearby operating mines.

The current drill program, launched in June 2025, is focused on testing structural and geochemical targets, including the Prince of Wales and Wieneroider Ridge zones. Results from the drilling are expected to contribute new data to the geological model, which has been developed using modern exploration techniques such as LiDAR surveys, historical re-sampling, and structural mapping.

Golden Cross has also engaged in a 12-month partnership with VRIFY, an artificial intelligence-driven mineral discovery platform, to analyze project data. The same technical team that supported the discovery of the wide gold-antimony zone at Sunday Creek is managing this initiative. [OWNERSHIP_CHART-7507]

Victoria’s gold production has grown substantially in recent years, and government policies continue to support mining investment. Golden Cross’s exploration area spans a 445 km² land package within this prolific region, where several advanced-stage projects are in development and five gold and antimony mines are currently in operation.

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%.

Its market cap is CA$20.52 million with 71.5 million shares outstanding. It trades in a 52-week range of CA$0.05 – CA$0.42.

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1. As of the date of this article, officers and/or employees of Streetwise Reports LLC (including members of their household) own securities of Golden Cross.
2. James Guttman wrote this article for Streetwise Reports LLC and provides services to Streetwise Reports as an employee.
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Source: https://www.streetwisereports.com/article/2025/07/23/gold-explorer-doubles-drilling-at-high-grade-victoria-project.html