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M&A / Property

Xali Gold nears closing of Pico Machay deal

By The Northwire Desk — AI Analysis Dec 22, 2025 · 16:17 XGC · 0.105 Xali Gold Corp.
XGC · Price

Executive Summary

  • Xali Gold Corp. announces that the TSX Venture Exchange (TSX-V) has approved the amended technical report for the acquisition of the Pico Machay gold deposit in Peru.
  • The closing of the Pico Machay acquisition and the first tranche of a previously announced non-brokered private placement are expected to occur simultaneously by the end of the week, subject to final TSX-V acceptance.
  • The amended technical report, prepared by DKT Geosolutions Inc., incorporates minor modifications to comply with TSX-V comments, including updates to section headings, reduced disclosure on adjacent properties, and clarification of the phased work program.

Key Details

  • Transaction Status: The TSX-V has addressed all outstanding technical and legal aspects regarding the acquisition of the Pico Machay gold deposit.
  • Closing Timeline: Both the Pico Machay acquisition and Tranche 1 of the non-brokered private placement are expected to close by the end of the week (relative to the release date).
  • Technical Report Approval: An amended National Instrument 43-101 compliant technical report was filed on SEDAR+ with an effective date of Nov. 18, 2025, and dated Dec. 16, 2025.
  • Technical Report Amendments:
    • Updated section headings (e.g., "Executive Summary" changed to "Summary").
    • Reduced disclosure regarding adjacent properties.
    • Deleted historical mineral resource estimates from the main estimates section, retaining them only in the summary and history sections.
    • Clarified Section 18.0 recommendations: Phase 2 work is not contingent on Phase 1 results, as it is supported by existing historical data.
  • Technical Report Author: David Thomas, PGeo, of DKT Geosolutions Inc.
  • Project Details (Pico Machay):
    • Located in the Huancavelica province, Peru, within the Southern Peru epithermal gold-silver belt.
    • Advanced exploration-stage project with near-term production opportunity.
    • Previous engineering studies (2005–2009) by Aquiline targeted an open pit heap-leach operation with low cost and low strip ratio.
    • Previous studies were based on a long-term gold price of $700/ounce; Xali Gold cites excellent upside potential due to untested exploration targets.
  • Company Profile: Xali Gold is a gold and silver exploration company focused on projects in the Americas, including the El Oro project in Mexico.

Notable Quotes

  • "The company understands that all outstanding technical and legal aspects have been addressed to the satisfaction of the TSX-V."
  • "Xali Gold believes there is excellent upside potential."
Read the original news release →

More from Xali Gold Corp.

Nov 05, 2026 · 07:00

Xali’s Pico Machay drilling programme is delayed into December due to a FTA pause, though the overall timeline remains intact.

Production / Operations Oct 26, 2026 · 07:00

Xali Gold has filed a drilling permit for the Pico Machay project, targeting a November start date for its exploration activities.

Production / Operations Oct 21, 2026 · 07:00

Xali’s FTA submission for the Pico Machay project advances drilling toward an updated resource and preliminary economic assessment.

Management Oct 08, 2026 · 07:00

Xali advances its 3,000m drill program at the Pico Machay project following successful community workshops.

Production / Operations Sep 17, 2026 · 07:00

Xali advances drilling and permitting at Peru’s Pico Machay project as preliminary economic assessment work begins.

Production / Operations Sep 16, 2026 · 07:00

Xali investigates tailings theft at its cancelled El Oro project while shifting exploration focus to new drilling initiatives in Peru.

M&A / Property