Xali Gold Discovers Higher Grade Gold Mineralization at Pico Machay
Xali Gold’s Pico Machay sampling validates historical grades while the company faces a looming capital crunch.
Xali Gold Corp. has released initial assay results from a systematic underground and surface channel and rock chip sampling program at its Pico Machay Gold Project in Peru. Approximately 25% of the 197 collected samples, totaling 51 assays, have been received, with the remainder expected in the coming weeks.
Key intercepts from the program include: * 2.22 g/t Au over 45.1m (including 4.17 g/t Au over 20.0m) * 1.49 g/t Au over 41.1m * 4.41 g/t Au over 13.7m (including 6.45 g/t Au over 6.5m) * 2.28 g/t Au over 40.0m
The sampling program aims to validate, update, and potentially upgrade the historical mineral resource estimate, feeding into an upcoming NI 43-101 compliant resource update and Preliminary Economic Assessment. Historical resource context remains at 264,600 oz Measured & Indicated and 446,000 oz Inferred, based on a $700/oz gold price assumption from prior engineering studies.
Xali Gold Corp. (XGC) released sampling results on June 25, 2026, aligning with its previous guidance that data from the sampling program, completed on June 4, 2026, would be available approximately two weeks later. The findings offer incremental validation of historical data but do not yet constitute a NI 43-101 compliant resource upgrade, as channel sampling alone cannot replace drilling for resource classification. The announcement involves no new financial results, strategic shifts, or major capital events.
Xali Gold Corp. is a junior exploration and development company focused on the Pico Machay Gold Project in Peru's Southern Epithermal Gold-Silver Belt. The company acquired 100% of the project in December 2025 for a total consideration of $17.5 million USD plus a $2.5 million milestone payment.
Pico Machay hosts a historical resource of ~710,600 oz Au. Previous engineering studies by Aquiline Resources targeted a low-cost, low strip-ratio open-pit heap-leach operation based on a $700/oz gold price.
The company also holds the El Oro project in Mexico, which includes tailings reprocessing rights and hardrock exploration targets, generating royalty income.