Xali Gold Corp. (TSXV:XGC) ("Xali Gold” or the “Company”) is
pleased to provide an update on both the El Oro Tailings Project
and the San Dieguito de Arriba (“SDA”) Plant in Western Mexico.
El Oro Tailings Project (the
“Project”)
As per the Xali Gold News Release dated May 4,
2023, Sun River Gold Corp (“Sun River”) received notice of approval
for a change in soil use permit which is the main permit required
for the El Oro Tailings Project in Mexico. To complete the
permitting process, Sun River then had a short time period to pay
1,426,364 Pesos (approximately US$84,500) to the Fondo Forestal
Mexicano to receive the permit. The complete permit was received
this week and allows the Tailings to be removed from the historical
deposition site, which is within the town of El Oro, to the
industrial processing site outside of the town. Having paid all
fees pertaining to this permit, Sun River can now commence work on
the Project.
Additionally, Sun River continues to make
advanced Net Profit Interest (“NPI”) payments, as part of the
option agreement to acquire 100% of the Project from Minera CCM El
Oro Jales (Xali Gold’s subsidiary). For an outline of payments and
extensions granted, please refer to the January 4, 2023 News
Release.
“We are very pleased that Sun River continues to
advance our Tailings Project and that the team has such extensive
permitting and mining experience in Mexico,” says Joanne Freeze,
President and CEO of Xali Gold. “With Sun River making advanced NPI
payments, we have been able to continue working on other
opportunities without incurring equity dilution.”
Sun River is a private Arizona based corporation
managed by an experienced team of mining professionals with a
combined 80 years of mining experience in Mexico, including
specific experience in the reprocessing of historical gold and
silver tailings.
The Tailings Project at El Oro contains an
Inferred Resource* of 1,267,400 Tonnes grading 2.94 gold grams per
tonne (“g/t”), 75.12 silver g/t containing 119,900 ounces of gold
and 3,061,200 ounces of silver.
*Note: Mineral Resources are not Mineral
Reserves and do not have demonstrated economic viability. All
figures have been rounded to reflect the accuracy of the estimate.
For more information see “National Instrument 43-101 Technical
Report on the Inferred Mineral Resource Estimate of the Mexico Mine
Tailings” prepared by Nadia Caira, P.Geo. and Allan Reeves, P.Geo.,
dated August 25, 2014 with an effective date of July 8, 2014
available at www.sedar.com
SDA Plant
The Company has decided to terminate the Binding
Letter of Intent (the “Agreement”) on the SDA Plant with Minera
Cinco Reales S.A. de C.V. (“MCR”) due to their failure to meet
timelines and the number of other groups showing interest in
collaboration on operating the plant. The Company is now in
discussions with several other parties regarding terms to get the
SDA Plant fully operational. The first step was to upgrade the
power supply at the SDA Plant, which has been completed.
Fabrication of initial replacement parts for the plant is still in
progress, as is the Environmental Impact Permit.
“While we are disappointed that MCR was unable
to meet its commitments, we are excited to be in talks with several
other local mining companies to continue bringing the SDA Plant
into operation,” says Joanne Freeze, President and CEO of Xali
Gold. “The Profit Sharing Agreements on the SDA plant, as well as
with Sun River Gold on the El Oro Tailings project, will allow us
to put our assets to work and provide cash flow while we continue
to evaluate other opportunities.”
About Xali Gold
Xali Gold has a growth strategy to acquire gold
and silver projects with near surface exploration potential,
near-term production potential and previous mining histories
in Mexico. Xali Gold plans to advance our growing bank of gold and
silver assets internally and/or with industry partners.
El Oro is a district scale gold project
encompassing a well-known prolific high-grade gold dominant
gold-silver epithermal vein system in Mexico. The project covers 20
veins with past production and more than 57 veins in total, from
which approximately 6.4 million ounces of gold and 74 million
ounces of silver were reported to have been produced from just two
of these veins (Ref. Mexico Geological Service Bulletin Nr. 37,
Mining of the El Oro and Tlapujahua Districts. 1920, T.
Flores).
Modern understanding of epithermal vein systems
indicates that several of the El Oro district’s veins hold
excellent discovery potential, particularly below and adjacent to
the historic workings of the San Rafael Vein, which was mined to an
average depth of only 200 metres.
Xali Gold is dedicated to being a responsible
Community partner.
Joanne C. Freeze, P.Geo., President, CEO and
Matthew Melnyk, CPG., Director Operations, are Qualified Persons as
defined by National Instrument 43-101 for the projects discussed
above. Ms. Freeze and Mr. Melnyk have reviewed and approved the
contents of this release.
Neither the TSX Venture Exchange nor its
Regulation Services Provider accepts responsibility for the
adequacy or accuracy of this release.
Forward-looking InformationThis
news release may contain forward-looking information (as such term
is defined under Canadian securities laws) including but not
limited to the mineral resource estimate for the Mexico Mine
Tailings and information regarding references to historical
resource estimates, the potential for discovery on the El Oro
Property and other statements that are not historical facts. While
such forward-looking information is expressed by Xali Gold in good
faith and believed by Xali Gold to have a reasonable basis, they
address future events and conditions and are therefore subject to
inherent risks and uncertainties including those set out in Xali
Gold’s MD&A. Factors that cause the actual results to differ
materially from those in forward-looking information include,
without limitation, gold prices, results of exploration and
development activities, regulatory changes, defects in title,
availability of materials and equipment, timeliness of government
approvals, potential environmental issues, availability of capital
and financing and general economic, market or business conditions.
Xali Gold expressly disclaims any intention or obligation to update
or revise any forward-looking information, whether as a result of
new information, future events or otherwise, except in accordance
with applicable securities laws.
On behalf of the Board of Xali Gold
Corp.
“Joanne Freeze” P.Geo.President, CEO and
Director
For further information please contact:Joanne
Freeze, President & CEOTel: + 1 (604)
689-1957info@xaligold.com
NR 201
Xali Gold (TSXV:XGC)
過去 株価チャート
から 11 2024 まで 12 2024
Xali Gold (TSXV:XGC)
過去 株価チャート
から 12 2023 まで 12 2024