The Redcastle Project is one of the most significant historic epizonal high-grade gold fields in Victoria.  First discovered in 1859, it is a uniquely Victorian opportunity where significant historically mined epizonal gold systems remain poorly explored to depth. Its extremely high gold grades with visible gold in quartz (+/- stibnite association) were mined over a 4.5 x 7 km area containing over 24 historic mining areas but it remains poorly explored to depth.

Better historic mines include the Welcome Group of mines were exploited over 2 km strike length from 1859–1865, down to a maximum depth of 125 m and extracted 20,583 oz @ 254.6 g/t gold; the Beautiful Venus Group of mines are located 2.5 km east of the Welcome Group; the reef was worked along strike for 61 m on surface and 30 m at the base of the shaft and averaged 0.6 m@ 93 g/t to 311 g/t gold. Other styles worked in this field included quartz-vein stock works in sandstones and dyke-hosted mineralization.

Modern exploration work undertaken prior to predecessor Southern Cross Gold Ltd ("SXG") at Redcastle began in 1985 included extensive rock chip (1,795 samples) and soil geochemical programs (1,619 soil samples); RC (169 drill holes totalling 7,950.5 m) and RAB drill programs; costean mapping programs (128 costeans totalling 6,051.6 m) and extensive geophysical surveys. Exploration within Redcastle concentrated mostly on gold, with areas of past mining and known mineralization being the focus for most companies.

17 km of combined high-grade vein strike remains completely untested below the workings and below the water table (50 m average depth). Selected drill results from these previous shallow holes marginal to the high-grade mines include: 10 m at 2.5 g/t gold from 22 m (RRC26), 2 m at 10.7g/t gold from 39 m (RRC41) and 2 m at 6.03 g/t gold from 26 m (PR16). None of this historic drill data have been independently verified at this time. The true thickness of the mineralized intervals is not known at this stage. No systematic geophysical surveys were undertaken.

The exploration strategy at Redcastle has focused on searching for high-grade epizonal gold at depth beneath historic mines. The approach has been to compile all historical mining and exploration data into a 3D model and apply large scale geophysical and remote sensing methods to identify mineral systems below 50 m depth, followed by oriented diamond drilling to test targets.

16 drill holes for 2,786.9 m across total of eight prospects at Redcastle (for an average hole depth of 174.2 m). Thin to moderate grades and widths of gold were discovered in all drill holes, except those that hit historic mine workings. Details of drill results received at the Redcastle Project are set out in the Independent Geologist's Report in SXG's Prospectus prior to its ASX listing in May 2022 dated 17 March 2022 and can be found here. Many targets require follow-up drilling.

In July 2023, SXG acquired Prospecting Licence PL6415 located entirely within the Redcastle property that secured 100% one of the higher-grade parts of the Redcastle goldfield, where drilling has identified very high grades (up to 704 g/t Au and 24.7% Sb) within continuous and targetable structures above a 1.3 km long and a coherent IP anomaly. The IP anomaly also sits below historic mines that produced 20,583 oz at 254.6 g/t Au over 2 km strike length down to a maximum depth of 125 m during 1859 to 1865.