Xali Gold Positions Pico Machay Gold Project to Reactivate Development Plans Amid Strong Gold Market

Core Viewpoint - Xali Gold Corp. is advancing the Pico Machay Gold Project in Peru, which presents both immediate value and long-term potential due to its historical resource estimates and favorable mining conditions [2][5]. Company Activities - The company aims to develop Pico Machay as soon as possible, focusing on updating the historical resource estimate and optimizing previous engineering studies, particularly the low-cost open-pit heap-leach concept [3][6]. - Community engagement has begun, with constructive meetings held in the Community of Santa Ana, reflecting a commitment to transparency and sustainable development [3][4]. Project Details - Pico Machay is located in a historically productive mining district and benefits from existing infrastructure and community support [4]. - The project has a Historical Measured and Indicated Resource of 264,600 ounces of gold and an additional Historical Inferred Resource of 446,000 ounces of gold, based on drilling data from 2009 [5][6]. Ongoing and Planned Activities - Current activities include relogging 20,000 meters of historical drilling, reconstructing the geological model, and preparing for detailed geological mapping and sampling [7]. - Planned activities for 2026 involve acquiring necessary permits, advancing a Preliminary Economic Assessment, and ongoing discussions for a long-term Land Access Agreement with the local community [7]. Technical Information - Historical resource estimates are based on prior data and reports, and further work is required to classify these estimates as current resources [9][8].