Golden Cross Unveils High-Potential Copper Zones at Copper Hill

Golden Cross Resources Ltd (ASX: GCR) has made significant progress on its Copper Hill project in NSW, completing approximately 70% of planned surface soil sampling across exploration license EL6391. This strategic geochemical program follows the completion of a tenement-wide gravity survey in February 2025, targeting areas with potential for enhanced mineral discovery.

Comprehensive Geochemical Mapping Unveils New Potential

The current sampling initiative addresses several key limitations in previous surveys, including older analytical techniques, limited elemental analysis, and gaps in coverage. To date, 175 sample sites have been analyzed using consistent methodology to ensure comparable results.

Several high-potential zones have been identified for further exploration:

1. 1. Wattle Hill South/East – Open soil copper zones defined by +800 ppm copper extend into areas previously untested for gold and molybdenum

1. 1. Dash North – Strong north-south soil arsenic trend averaging ~40 ppm with associated silver values up to 36 ppm in rock chips

1. 1. Gamboola – Unexplained silver zones with values up to 21 ppm requiring validation

1. 1. Larras Lee – Low-level copper zone with a single point measurement of 0.8 ppm gold

The company is continuing sampling at Shades Road and Larras Lee at 200m spacing, with results to be released as they become available.

Understanding Skarn Mineralisation: A Key to Copper Hill’s Potential

One intriguing aspect of the Dash North prospect is the presence of potential skarn mineralisation. Skarn deposits form when hot, metal-rich fluids from magmatic intrusions interact with carbonate rocks like limestone, creating zones rich in copper, gold, silver, and other valuable metals.

What Are Skarn Deposits?

Skarn deposits represent an important class of mineral deposits formed at the contact between igneous intrusions and carbonate-rich sedimentary rocks. They form through a process called metasomatism, where hydrothermal fluids from cooling magma alter the surrounding carbonate rocks.

The key features of skarn deposits include:

• • Formation process: Heated fluids from magmatic intrusions react with carbonate rocks (limestone or dolomite), replacing the original minerals with new mineral assemblages

• • Mineralogy: Typically contain calc-silicate minerals such as garnet, pyroxene, and wollastonite, often accompanied by sulphide minerals bearing copper, gold, and other metals

• • Economic importance: Skarns frequently host economic concentrations of copper, gold, silver, zinc, lead, and tungsten

• • Distribution: Often occur in clusters around larger intrusive bodies, creating potential for multiple discoveries within a region

The presence of skarn-style mineralisation at Dash North is particularly significant as it adds another dimension to Copper Hill’s exploration potential. The trace element geochemistry and nearby limestone formation show classic hallmarks of skarn-style mineralisation.

This mineralisation style is already known south of Molong at Gamboola, Reedy Creek, and Printhie, indicating a regional trend that enhances Copper Hill’s prospectivity. The identification of potential skarn mineralisation expands the exploration model beyond the porphyry style mineralisation that has been the primary focus at Copper Hill.

Strategic Position in Australia’s Premier Copper-Gold Belt

Copper Hill occupies a strategic position within the Molong Volcanic Belt of the Macquarie Arc – the same geological formation that hosts Newmont’s Cadia-Ridgeway mine and Alkane Resources’ Boda discovery. This premier mineral belt has produced some of Australia’s most significant copper-gold deposits.

The project sits approximately:

• • 50 kilometres north of the world-class Cadia mine

• • 60 kilometres south of Alkane’s Boda Prospect

• • On the northern edge of the Lachlan Transverse Zone, a major structural corridor associated with significant mineralisation

The Macquarie Arc is part of the Lachlan Fold Belt, which extends through New South Wales and Victoria. This geological setting is characterised by Ordovician-age volcanic and intrusive rocks that have proven highly prospective for porphyry copper-gold deposits of world-class scale.

Cadia, now owned by Newmont following its acquisition of Newcrest Mining in 2023, represents one of Australia’s largest gold-copper operations. The proximity of Copper Hill to such a significant deposit, along with its position along the same mineralised trend, highlights the potential for additional discoveries within GCR’s tenement.

Substantial Resource Base with Growth Potential

Golden Cross Resources’ 2022 Mineral Resource Estimate demonstrates Copper Hill’s already significant scale:

With 68.7 million tonnes containing 217,000 tonnes of copper and 602,000 ounces of gold, Copper Hill represents a substantial resource base with clear growth potential through the current exploration program.

The 2022 resource estimate represented a substantial increase from previous estimates, driven by additional drilling and improved geological modelling. The resource remains open in multiple directions, suggesting potential for further expansion through targeted exploration efforts.

Recent developments in the economic factors in copper market make this resource particularly significant, as global demand continues to outpace supply in many regions.

The current geochemical sampling program is designed to identify additional zones of mineralisation that could contribute to future resource growth. By systematically addressing gaps in historical data and employing consistent analytical techniques, GCR is building a more comprehensive understanding of the mineral potential across the entire tenement.

Why Investors Should Track Golden Cross Resources

Golden Cross Resources presents a compelling investment narrative for several key reasons:

1. 1. Strategic Location: Positioned in one of Australia’s resource prospects alongside world-class deposits

1. 1. Resource Scale: Substantial existing resource with 217,000 tonnes of copper and 602,000 ounces of gold

1. 1. Exploration Upside: Methodical geochemical program identifying multiple new target areas

1. 1. Copper-Gold Focus: Exposure to metals with strong fundamentals due to energy transition and economic growth

1. 1. Systematic Approach: Disciplined exploration methodology addressing gaps in historical data

The company’s systematic approach to expanding its resource footprint, combined with its strategic position in a proven mineral belt, positions Golden Cross Resources as a compelling exploration story in the copper-gold sector. As results from the remaining 30% of the geochemical sampling program become available, investors should watch closely for new discoveries that could significantly enhance the project’s value proposition.

While the gold market insights remain positive, the combination of gold and copper exposure provides investors with diversification across two metals with different but complementary market drivers.

The Significance of Systematic Geochemical Exploration

The current geochemical sampling program represents a methodical approach to mineral exploration that addresses several limitations in historical data:

1. 1. Consistent Methodology: By employing uniform sampling and analytical techniques, GCR is creating a comprehensive dataset that allows for direct comparison across the entire tenement

1. 1. Multi-Element Analysis: Expanding beyond basic copper and gold analysis to include pathfinder elements like molybdenum, arsenic, and silver provides a more complete picture of the mineralising system

1. 1. Infill and Extension Coverage: Systematically filling gaps in historical sampling and extending coverage into previously untested areas increases the probability of identifying new mineralised zones

1. 1. Target Generation: The program is designed to generate specific drill targets based on geochemical anomalies, maximising the effectiveness of future drilling campaigns

This systematic approach to exploration increases the probability of discovery while making efficient use of exploration capital. By building a comprehensive geochemical database before committing to expensive drilling programs, GCR is positioning itself to make informed decisions about where to focus its future exploration efforts.

Recent global events, including the copper and mining investments dispute in Panama, highlight the importance of developing copper assets in stable jurisdictions like Australia.

The Copper Hill project continues to demonstrate significant potential for resource growth through systematic exploration. With approximately 70% of the planned geochemical sampling program now complete, investors should monitor closely as results from the remaining areas become available in the coming months.

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