Southern Cross Gold Down 4% After Providing Drilling Results From the Apollo and Apollo East Prospects

Southern Cross Gold (SXGC.TO) shares were last seen down 5% after the company on Wednesday provided results from seven drill holes from the Apollo and Apollo East prospects on the Sunday Creek Gold-Antimony Project in Victoria.

The company said its "best results" included 36.6 meters (m) at 6.5 grams per tonne (g/t) gold equivalent (AuEq) from 700.0 m in drill hole SDDSC202. The true thickness of the mineralized intervals is interpreted to be about 55% to 75% of the sampled thickness for all reported holes, it said.

Hole SDDSC214W1 returned the most easterly mineralization identified within the main drill area to date, expanding Apollo East a further 20 m east with intersections on new vein sets including 0.5 m at 251.4 g/t AuEq from 605.2 m and individual assays up to 362.0 g/t Au. Shallowest Apollo East results to date in SDDSC217, an about 97 m updip extension confirming strong antimony tenor near surface, with 0.1 m at 130.6 g/t AuEq from 324.9 m, were also highlighted by the company.

Seven individual assays exceeding 100 g/t Au and five individual antimony (Sb) assays greater than 20% Sb were intersected amongst the seven holes reported showing the continued high-grade growth in Apollo as the exploration continues to step out and expand the known boundaries of the mineralization, it said. Eleven drill rigs are currently operational on the Sunday Creek project.

Results are pending from 67 holes currently being processed and analyzed including 11 holes that are actively being drilled and two abandoned holes.

Shares of the company were last seen down $0.37 to $8.81 on the Toronto Stock Exchange.

Price: $8.80, Change: $-0.38, Percent Change: -4.14%

The North West Company Reports Lower Sales, Adjusted Profit for First Quarter; Dividend Maintained

The North West Company (NWC.TO) after trade Tuesday said its first-quarter sales and adjusted profit declined year-over-year.The company, which operates grocery stores in Canada's North and the Caribbean, said adjusted earnings, excluding most one-time items, fell to $30.3 million from $33.6 million a year ago. The company did not provide per-share amounts. FactSet expected earnings per share of $0.68.Consolidated sales for the quarter ended April 30 fell to $631.6 million from $641.4 million in the year-ago period "due to the impact of foreign exchange on the translation of International Operations sales and a decrease in Canadian Operations sales," the company said. FactSet projected sales of $648.5 million.The company also declared a quarterly dividend of $0.41, the same as the previous quarter, to shareholders of record on June 30, to be paid on July 15."While our Canadian Operations performance faced expected headwinds following the sunset of the Inuit Child First Initiative food voucher program, our team remained focused on execution and finding efficiencies within our business," Chief Executive Dan McConnell said."Looking ahead, we are mindful of external pressures, including the impact of rising fuel costs, and the evolving pace of government infrastructure investments and settlement payments in the communities we serve. While near-term variability in these factors may impact results, we remain confident in our long-term strategy, the fundamentals of our business, and our ability to create sustainable value," he added.

$NWC.TO

Southern Cross Gold Down 4% After Providing Drilling Results From the Apollo and Apollo East Prospects

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