Xali Gold (TSX-V:XGC) has received assays from an initial underground and surface channel and rock chip sampling program at the Pico Machay Gold Project in central Peru.
Gold mineralisation and alteration characteristics of a high-sulphidation epithermal system have been identified in underground workings across an area measuring 1.35km by 0.83km.
Out of 119 surface samples collected, 67 samples returned more than 0.5 grams per tonne gold (Au), which Xali Gold says helps refine exploration targets. Surface Channel One returned 31.5m @ 2.92g/t Au, including 4.5m @ 13.76g/t Au.
CEO Joanne Freeze says the results continue to build the company’s confidence in Pico Machay.
“The consistency of the results, including indications of potentially higher grades within the historical resource area, is very encouraging,” Freeze says.
“Equally important are the numerous anomalous gold results returned from underground workings and surface samples outside the resource area. While several of these areas are beyond the scope of the upcoming resource update, the results highlight the potential to expand the known mineralised system and provide compelling targets for future exploration.”
The latest programs included systematic channel sampling within previously unsampled underground workings, alongside rock chip sampling across surface areas within the Pico Machay resource area and surrounding exploration targets.
Samples comprised 78 underground channel samples and 119 surface samples. These samples were collected to support Xali Gold’s efforts to validate, update, and potentially upgrade the historical resource estimate at Pico Machay.
Located within the Southern Peru Epithermal Gold-Silver Belt, Pico Machay sits in a historically productive mining district in the Western Cordillera of the Andes. The project benefits from existing infrastructure and a mining-friendly community eager to partner on sustainable development.
Xali Gold is a gold and silver explorer focused on advancing opportunities in North and South America.
Write to Aaliyah Rogan at Mining.com.au
Images: Xali Gold
