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Xali Gold Enters Option to Acquire Sarape Project Located Within Rio Sonora Valley, Mexico
VANCOUVER, British Columbia, Feb. 28, 2025 (GLOBE NEWSWIRE) -- Xali Gold Corp. (TSXV:XGC) ("Xali ...
About this update from Xali Gold Corp.
[{"type":"text","content":"Xali Gold Enters Option to Acquire Sarape Project Located Within Rio Sonora Valley, Mexico\n\n\n\n VANCOUVER, British Columbia, Feb. 28, 2025 (GLOBE NEWSWIRE) -- Xali Gold Corp. (TSXV:XGC) (\"Xali Gold” or the ”Company”) is pleased to announce it has entered into a binding Letter of Intent (“LOI”) to option the Sarape silver-gold Project (“Sarape” or the “Project”), in Northern Mexico from Advanced Lithium Corp. (“AALI”). This strategic move bolsters Xali Gold’s Mexican portfolio of high-level, low-sulphidation epithermal precious metal assets, offering considerable exploration potential in a proven high-grade silver and gold district.\n \n\n The 57 square kilometer Sarape Project is located in the Rio Sonora Valley of northern Mexico, an emerging gold-silver mining district that includes First Majestic Silver’s Santa Elena Mine, Premier Gold Mines’ Mercedes Mine and SilverCrest Metal’s Las Chispas Mine (recently purchased by Coeur Mining for C$2.4 billion). The Project contains extensive gold and silver bearing vein systems with evidence that only high (shallow) levels of the system are present near the surface. These systems have not been tested at depths where boiling zones are expected to have precipitated high-grade gold and silver mineralization. The Project is located roughly 20 km northeast of the Las Chispas Mine and Xali Gold recognizes the Project's immense potential and plans to leverage our expertise in epithermal gold systems to unlock its full value.\n \n\n “We are excited about the acquisition of the Sarape Project, which has potential to be very similar to SilverCrest’s Las Chispas deposit and other robust deposits in Mexico and offers asymmetric upside potential for the discovery of silver and gold mineralization at depth,” stated Joanne Freeze, CEO of Xali Gold. “This transaction provides a significant opportunity for our shareholders as we plan an accelerated exploration program at Sarape while underground work at El Oro advances to get us better access for drilling there.”\n \n\n Allan Barry Laboucan, CEO and President of AALI, said, “I am pleased to enter this option deal with Xali Gold, as they have a talented team and a great gold exploration project at El...