Business

Xali Gold Positions Pico Machay Gold Project to Reactivate Development Plans Amid Strong Gold Market

VANCOUVER, British Columbia, Feb. 12, 2026 (GLOBE NEWSWIRE) -- Xali Gold Corp. (TSXV:XGC) (“Xali Gold” or the “Company”) is pleased to provide an update on the ongoing activities on the recently acquired Pico Machay Gold Project (“Pico Machay” or the “Project”) in Peru. Following the completion of the acquisition in December 2025, Pico Machay gives Xali Gold both immediate value and substantial long-term upside, particularly given that the historical resource, completed in 2008, was based on a l

articleXali Gold Corp.February 12, 20265/company/xali-gold-corp/news/xali-gold-positions-pico-machay-gold-project-to-reactivate-development-plans-amid-strong-gold-market
Xali Gold Positions Pico Machay Gold Project to Reactivate Development Plans Amid Strong Gold Market

About this update from Xali Gold Corp.

[{"type":"image","alt":"Xali Gold Corp.","displaySize":"","headline":null,"caption":"Xali Gold Corp.","className":"","disableSlideshowImg":false,"size":{"original":{"width":192,"height":300,"url":"https://media.zenfs.com/en/globenewswire.com/67afb0501f7902b49ad0443a08791d8b"},"resized":{"url":"https://s.yimg.com/ny/api/res/1.2/yYkiJ0tQhNu6xBfCmjdqVQ--/YXBwaWQ9aGlnaGxhbmRlcjt3PTM2MDtoPTU2MztjZj13ZWJw/https://media.zenfs.com/en/globenewswire.com/67afb0501f7902b49ad0443a08791d8b","width":192,"height":300}},"lazy":false},{"type":"text","content":"VANCOUVER, British Columbia, Feb. 12, 2026 (GLOBE NEWSWIRE) -- Xali Gold Corp. (TSXV:XGC) (“Xali Gold” or the “Company”) is pleased to provide an update on the ongoing activities on the recently acquired Pico Machay Gold Project (“Pico Machay” or the “Project”) in Peru.","length":270,"tagName":"p"},{"type":"text","content":"Following the completion of the acquisition in December 2025, Pico Machay gives Xali Gold both immediate value and substantial long-term upside, particularly given that the historical resource, completed in 2008, was based on a long-term gold price of US$700 per ounce. A positive production decision was also made using the same gold price in 2009.","length":349,"tagName":"p"},{"type":"text","content":"“We are now focused on advancing Pico Machay into development as soon as possible,” said Joanne Freeze, President and CEO. “The immediate critical path includes updating the historical resource estimate and optimizing previous engineering studies, especially the low-cost, low-strip ratio open-pit heap-leach concept outlined by prior owner Aquiline Resources (“Aquiline”). Advancing the engineering studies will enable us to initiate the detailed Environmental Impact Assessment (“EIA”) required for operations. Aquiline had completed approximately 50% of their detailed EIA in 2009.”","length":585,"tagName":"p"},{"type":"text","content":"Community engagement commenced on December 27, 2025, in the Community of Santa Ana. Meetings have been highly constructive, reflecting the community’s organized structure, familiarity with exploration and mining activities, and commitment to transparency and sustainable development.","length":283,"tagName":"p"},{"type":"text","content":"The following activities are currently underway:","length":48,"tagName":"p"},{"type":"list","items":[{"val":[{"type":"text","content":"Re...

More updates from Xali Gold Corp.

Pico Machaygold priceXali Goldhistorical dataresource estimatesJoanne Freezeresource definitionAquiline Resources