Xali Gold Outlines Plans for Pico Machay Gold Project in Peru

Core Viewpoint - Xali Gold Corp. is advancing the Pico Machay Gold Project in Central Peru through a Share Purchase Agreement with Pan American Silver Corp. and its subsidiary, Aquiline Resources Inc. [1][2] Acquisition Details - The Pico Machay transaction is deemed fundamental for Xali Gold, with the TSX Venture Exchange lifting the trading halt following the issuance of the news release [2] - The acquisition involves a total payment of $17.5 million, with $15 million allocated for the known historic gold resource and an additional $2.5 million contingent on disclosing a minimum of 1.25 million ounces of gold in a compliant technical report [8][10] Resource Estimates - Pico Machay has a historic Measured and Indicated Resource of 264,600 ounces of gold and an additional Inferred Resource of 446,000 ounces [3] - The resource estimates are based on historical data and require further verification to be classified as current resources [12] Exploration Plans - Xali Gold plans to initiate fieldwork, including exploration target advancement, bulk sampling, and metallurgical testing, without needing additional permits [4] - The company aims to update the historic resource estimate using current gold prices and optimize previous engineering studies over the next six months [5] Project Location and Context - The Pico Machay Project is located within a well-established mining area in the Southern Peru Epithermal Gold-Silver Belt, with several operational mines in proximity [5][7]