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Xali Gold: New Drill Targets Identified on the El Oro Gold Project, Mexico
VANCOUVER, British Columbia, Aug. 11, 2021 (GLOBE NEWSWIRE) -- Xali Gold Corp. (TSXV:XGC) ("Xali Gold” and/or the “Company”) is pleased to advise that the Compa
About this update from Xali Gold Corp.
[{"type":"text","content":" VANCOUVER, British Columbia, Aug. 11, 2021 (GLOBE NEWSWIRE) -- Xali Gold Corp. (TSXV:XGC) (\"Xali Gold” and/or the “Company”) is pleased to advise that the Company has recently identified new gold-silver drill targets within the 100% held El Oro – Tlapujahua District in Mexico. These drill targets have recently been identified in a 3D Leapfrog model and are designed to test potential extensions to the mineralized veins where they are intersected by cross-cutting mineralized structures. These structures have been identified from past drilling and historical mine records, and incorporated into the 3D model in order to optimize drill angles and azimuths. A video showing the Leapfrog model can be found on the Company’s website at the El Oro Hard Rock Maps and Sections. “The El Oro district is a well-known mining district with over 8 million ounces of gold equivalent produced from only 2 of over 50 known veins,” says Joanne Freeze, President and CEO of Xali Gold. “There is huge potential in the area, and we’ve identified some new drill targets to test some of the other underexplored veins.” 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. About Xali Gold Xali Gold has launched a comprehensive growth strategy to acquire gold and silver projects with near surface exploration potential, near-term production potential and previous mining histories. Xali Gold plans to advance our growing bank of gold and silver assets internally and/or with industry partners. The acquisition of the SDA Plant, suitable for treating high grade gold and silver mineralization, along with the acquisition of rights to the El Dorado gold ...