XTC Lithium Uncovers Strong Gold and Lithium Anomalies at Southern Cross
XTC Lithium's latest quarterly report reveals significant gold and lithium anomalies from an extensive auger drilling program at its Southern Cross project, highlighting promising exploration potential.
- 501 auger drill holes sampled at Southern Cross tenement E77/2584
- Gold assays up to 374.5ppb with multiple contiguous high-grade samples
- Broad lithium anomaly exceeding 50ppm identified near granite formations
- Geophysical data indicates complex faulting conducive to mineralisation
- Company plans follow-up infill drilling and desktop studies to refine targets
Exploration Breakthrough at Southern Cross
XTC Lithium Limited (ASX: XTC) has reported compelling results from its recent auger drilling campaign at the Southern Cross Gold Project in Western Australia. The program, which involved 501 drill holes across the E77/2584 tenement, has delineated multiple gold and lithium anomalies, underscoring the prospectivity of this historically rich greenstone belt.
The standout gold assay reached 374.5 parts per billion (ppb), with a central zone featuring nine contiguous samples exceeding 100ppb Au, surrounded by a broader halo of samples above 50ppb. This pattern suggests a coherent mineralised system rather than isolated occurrences. Notably, the gold trend aligns with magnetic anomalies mapped along the greenstone belt, reinforcing the geological model of vein and shear-hosted gold mineralisation typical of the region.
Lithium Potential Emerges
Alongside gold, the drilling identified a broad lithium anomaly exceeding 50ppm in the mid-southwest portion of the grid, proximal to granite intrusions. This lithium signature, detected via the CSIRO-developed UltraFines assay method targeting fine clay fractions, is significant given the growing demand for lithium in battery technologies. The presence of lithium anomalies within the greenstone terrane adds a valuable dimension to XTC’s exploration portfolio.
Strategic Location and Infrastructure
The Southern Cross Project benefits from its location within the Yilgarn Goldfield, a prolific gold-producing region with historical output exceeding 15 million ounces. The project area is well-serviced by sealed roads, grid power, water, and rail infrastructure, with nearby operational plants such as Minjar’s Marvel Loch and Ramelius Resources’ Edna May facility. These logistical advantages could facilitate future development if exploration success continues.
Next Steps and Corporate Outlook
XTC plans to undertake further desktop interpretation and an infill drilling program to refine and test the identified anomalies at depth. The company’s management is also progressing discussions related to its Carachi Pampa Lithium Brine Project in Argentina, aiming to leverage local expertise to advance operations there.
Financially, XTC reported a modest cash position of $63,000 at quarter-end, supplemented by $1.655 million in unused loan facilities, providing an estimated 4.5 quarters of funding for ongoing activities. The company remains suspended from trading but is working towards reinstatement as soon as practicable.
Overall, these exploration results mark a promising phase for XTC Lithium, potentially positioning it as a dual-commodity player in gold and lithium within two globally significant jurisdictions.
Bottom Line?
XTC Lithium’s discovery of robust gold and lithium anomalies sets the stage for a pivotal exploration phase that could redefine its market trajectory.
Questions in the middle?
- How will XTC prioritise follow-up drilling between gold and lithium targets?
- What are the timelines and funding plans for advancing the Carachi Pampa Lithium Project?
- Could the identified anomalies translate into economically viable mineral resources?
