Xali Gold Advances PEA Team and Updated Resource and Development Programs at Pico Machay in Peru
Xali advances drilling and permitting at Peru’s Pico Machay project as preliminary economic assessment work begins.
Xali Gold Corp. announced the advancement of environmental, metallurgical, and exploration programs at its Pico Machay Gold Project in Peru. A multidisciplinary engineering team has been assembled to advance the Preliminary Economic Assessment (PEA) and updated mineral resource estimate in parallel. The company is preparing for a 3,000-meter diamond drill program, with bids received from three contractors. Approximately 2,000 meters are designated for resource confirmation drilling via hole twinning.
Permitting progress includes technical meetings with Peru’s Ministry of Energy and Mines (MINEM) for the Ficha Técnica Ambiental (FTA) approval. A public workshop is planned for early October 2026, with FTA application submission expected approximately one week post-workshop. Initiation of the Detailed Environmental Impact Assessment (EIA-d) has begun, supported by the installation of a research-grade meteorological station. Phase 1 metallurgical program is planned to commence shortly.
Fieldwork has resumed for detailed mapping and sampling, highlighting high-grade results from July 2026: - Surface Channel 1: 2.92 g/t Au over 31.5 m, including 13.76 g/t Au over 4.5 m.
A 3D geological model using Leapfrog software is underway, expected to be completed by the end of September 2026.
Xali Gold Corp. (XGC) issued an update on September 17, serving as a direct follow-up to its August 13 announcement regarding the 3,000-meter drill program and the Free To Act (FTA) submission timeline. The company confirmed that contractor selection is progressing and that the FTA application remains on track for early October 2026, aligning with management’s previously stated guidance.
The update contained no new surprises, unexpected delays, or material changes to the project's economic or regulatory outlook.
Xali Gold Corp. (XGC) is a gold and silver exploration company focused on projects in the Americas. Its flagship asset is the Pico Machay Gold Project in Peru, located in the Southern Peru Epithermal Gold-Silver Belt. The advanced exploration-stage asset holds a historical resource of approximately 710,600 ounces of gold, comprising 264,600 ounces in the Measured and Indicated category and 446,000 ounces Inferred. The company aims to advance the project toward near-term production via a low-cost, open-pit heap-leach operation.
XGC also holds the El Oro Gold-Silver Project in Mexico, which is structured around tailings reprocessing via KCA and hardrock extraction from historical workings via Remedioambiente. The project faces ongoing regulatory and administrative challenges in Mexico.