Mining & Metals
Xali Gold Advances Pico Machay Gold Project With Underground and Surface Sampling Program
Xali Gold (XGC.V) has completed more than 50% of the initial underground and surface rock chip sampling program on its Pico Machay Gold project in central Peru, with 125 initial samples now collected and submitted to the laboratory for geochemical and assay analyses, it said Wednesday.To date, 36 samples were collected from underground, and 89 samples were collected on surface, all from within areas of mineralization. Results from this program are expected to support the updating and potential upgrading of the historical resource to a current, compliant mineral resource estimate, with completion targeted for Q3 2026, as well as support the advancement of a Preliminary Economic Assessment, the company said."The underground sampling was conducted in the walls of two crosscuts through the centre of the resource, which allows continuous sampling similar to what a horizontal drill hole would allow," said Xali Gold Chief Executive Joanne Freeze. "Surface sampling was conducted in channels cut in outcropping mineralized zones and was also continuous."Shares of the company were last seen unchanged at $0.27 on the TSX Venture Exchange.
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