Xali Gold Completes Public Workshop, Advancing Exploration Permitting at Pico Machay in Peru
Xali advances its 3,000m drill program at the Pico Machay project following successful community workshops.
Xali Gold Corp. (XGC) completed a public information workshop on October 7, 2026, which was attended by approximately 60 residents from the Santa Ana community. Organized by Peru's Ministry of Energy and Mines (MINEM), the event serves as a prerequisite for submitting the Ficha Tecnica Ambiental (FTA) drilling permit application. The company targets submitting the FTA application the week following the release. Regulatory review is expected to take approximately 10 days post-submission.
Community authorization for drilling was previously granted on June 28, 2026. The planned drilling program consists of 3,000 meters of diamond drilling, with approximately 2,000 meters intended to twin historical reverse-circulation holes to support an updated mineral resource estimate and a Preliminary Economic Assessment (PEA).
Xali Gold Corp. (XGC) has advanced the permitting process for its Pico Machay project, a routine step that confirms progress toward the submission of the Final Technical Assessment (FTA). The company had previously targeted late September or early October for this submission. The update brings no new surprises, unexpected delays, or changes to the drilling scope or timeline. Given the steady stream of updates throughout 2026, the market likely already priced in this permitting milestone. The development is incremental and positive, maintaining the path toward resource verification and the completion of the Preliminary Economic Assessment (PEA).
Xali Gold Corp. is a gold exploration and development company focused on the Americas. Its flagship asset is the Pico Machay Gold Project in Huancavelica, Peru, situated within the Southern Peru Epithermal Gold-Silver Belt. The company acquired 100% of the project from Pan American Silver/Aquiline Resources in December 2025 for up to $17.5 million in deferred and contingent payments.
Historical resource estimates total approximately 710,600 ounces of gold, comprising 264,600 ounces of Measured and Indicated material and 446,000 ounces of Inferred material. The project targets a low-cost, open-pit heap-leach operation based on historical engineering studies. Current activities focus on updating the historical resource via diamond drilling, conducting metallurgical testing, and advancing a Preliminary Economic Assessment (PEA).