FULL DISCLOSURE: Canacom Group is long the equity of Crossroads Gold.
Crossroads Gold Corp. (TSXV: CRG) has completed its acquisition of Rox-ex Pty Ltd., picking up a portfolio of gold and base-metal exploration ground in southeastern Australia and adding two new projects to its growing pipeline.
The deal, first announced under a definitive agreement in late April, gives Crossroads 100% of the privately held Australian explorer and its two flagship assets, which consist of the Pambula Gold Project in New South Wales and the Club Terrace Project in Victoria. Both sit within the Lachlan Fold Belt, a region that has yielded more than 190 million ounces of gold historically.
Pambula is the more advanced of the pair. Covering 81 square kilometres, it hosts the entire historic Pambula goldfield, which produced a minimum of 45,200 ounces between 1890 and 1914. Historical drilling is said to have assays as high as 2 metres grading 33.05 g/t gold from a depth of just 26 metres, with mineralization still open along strike and at depth.
Club Terrace is earlier stage and bigger picture. The 126 square kilometre project stretches along a 34-kilometre corridor of historic goldfields that has seen little modern gold focused exploration. The licence is still working through the Native Title process, with grant expected in the second or third quarter of 2026.
Chief Executive Officer Rex Motton framed the close as a step toward scale. “Closing the Rox-ex acquisition marks another important milestone in building Crossroads into a leading Australian-focused gold exploration company,” he said, pointing to historical high grade production, modern wide drill intercepts, and mineralization that remains open at Pambula, along with what he described as district scale potential across a largely untested corridor at Club Terrace.
On the terms, Crossroads paid C$50,000 in cash on signing and issued 2 million common shares, with further cash payments of C$100,000 due at the 12 month and 24 month anniversaries of closing. The vendor also retains a 2.0% net smelter return royalty, which Crossroads can buy back at any time for C$2 million in cash or stock.
As for next steps, Crossroads has indicated that they intend to immediately begin exploration at Pambula, with a drill program set to target the Pilot Fissure Zone, while geochemical and mapping are also planned to occur on site.
Crossroads Gold last traded at $0.20 on the TSX Venture.
FULL DISCLOSURE: Canacom Group, the parent company of The Deep Dive is long the equity of Crossroads Gold. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security.
