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Xali Gold Outlines Plans for Pico Machay Gold Project in Peru
VANCOUVER, British Columbia, Oct. 28, 2025 (GLOBE NEWSWIRE) -- Xali Gold Corp. (TSXV:XGC) ("Xali ...
About this update from Pan American Silver Corp.
[{"type":"text","content":"Xali Gold Outlines Plans for Pico Machay Gold Project in Peru\n\n\n\n VANCOUVER, British Columbia, Oct. 28, 2025 (GLOBE NEWSWIRE) -- Xali Gold Corp. (TSXV:XGC) (\"Xali Gold” or the “Company”) is pleased to announce plans to advance the Pico Machay Gold Project (“Pico Machay” or the “Project”) in Central Peru. The Project is under acquisition through a\n \n Share Purchase Agreement (“SPA”) with\n \n Pan American Silver Corp. (TSX:PAAS) (NYSE:PAAS) (“Pan American”) and its subsidiary, Aquiline Resources Inc. (“Aquiline”) as per the\n \n October 24\n \n\n\n th\n \n\n\n , 2025 news release\n \n .\n \n\n The Pico Machay transaction is considered a fundamental acquisition for Xali Gold and therefore, pursuant to Policy 5.3, was pending the receipt and review of acceptable documentation by the TSX Venture Exchange (“TSX-V”). The TSX-V has now advised the Company that with this news release issued, the requirements in section 5.6(d) of Policy 5.3 have now been met and the trading halt will be lifted such that Xali Gold will resume trading tomorrow Wednesday October 29\n \n th\n \n , 2025.\n \n\n Pico Machay has a historic Measured and Indicated Resource of 264,600 ounces (“oz”) of gold (10.6 million (“M”) tonnes grading 0.78 grams per tonne (“gpt”) gold) and an additional Historic Inferred Resource of 446,000 oz of gold (23.9 M tonnes grading 0.58 gpt gold). David Thomas, Independent Qualified Person (“QP”), completed a site visit of Pico Machay from October 21 to 24, 2025 and collected 26 samples. Nine of these samples were collected on the property and 17 samples were collected from pulps and rejects to allow his due diligence on the reported mineralized zones and the Historic Resource. A total of 154 reverse circulation holes drilled prior to 2009, were relied upon to delineate the Historic Resource. All of these holes were drilled in a central zone while nine additional high-potential exploration targets remain untested.\n \n\n Xali Gold plans to commence field work by advancing exploration targets in preparation for drill testing; initiating a bulk sampling program, both to confirm grades from previous drilling and better understand the higher grade zones; and also by condu...