Xali Gold Confirms SDA Plant in Mexico is Operational and Commences Bulk Sample Testing
01 Februar 2024 - 1:00PM
Xali Gold Corp. (TSXV:XGC) ("Xali Gold” or the “Company”) is
pleased to advise that Mexican company, Grupo Minero WIYA
(“
WIYA”) has made the required repairs to get the
San Dieguito de Arriba (“
SDA”) Plant in Nayarit,
Western Mexico operational and are conducting bulk sample testing
at the SDA Plant.
“We are excited to have the SDA Plant up and
running again,” says Joanne Freeze, President and CEO of Xali Gold.
“WIYA has quickly managed to start the bulk sample program and
while they iron out usual commissioning “bugs” and are processing
bulk samples from their own mine, we are now in discussions with
WIYA to form a Joint Venture and evaluate other opportunities for
higher value materials (especially with more gold) from other mines
in the area. Longer term, once we have steady cash flow, we will
also evaluate more exploration opportunities at the same mines as
well as in other parts of Mexico, Latin and South America.”
More details about the SDA Plant, including
photos from the ribbon cutting ceremony, can be found on the
Company website at: Xali Gold Corp. | Photos
As per the Xali Gold News Release dated December
18, 2023, the Company signed an Agreement with WIYA whereby WIYA
agrees to pay US$150,000 per month for 10 months and upon
completion of paying a total of US$1.5 Million, WIYA would have the
right to own the SDA Plant, however discussions are now ongoing to
change these terms into a Joint Venture and operate the plant
together for shared profits. Currently, Magellan Acquisition Corp.
(“Magellan”), and the Company each own 50% of the
SDA plant.
About Xali Gold
Xali Gold has gold and silver projects in Peru
and Mexico. El Oro is a district scale gold project encompassing a
well-known prolific high-grade gold dominant gold-silver epithermal
vein system in Mexico. The project covers 20 veins with past
production and more than 57 veins in total, from which
approximately 6.4 million ounces of gold and 74 million ounces of
silver were reported to have been produced from just two of these
veins (Ref. Mexico Geological Service Bulletin Nr. 37, Mining of
the El Oro and Tlapujahua Districts. 1920, T. Flores).
Modern understanding of epithermal vein systems
indicates that several of the El Oro district’s veins hold
excellent discovery potential, particularly below and adjacent to
the historic workings of the San Rafael Vein, which was mined to an
average depth of only 200m.
Xali Gold is dedicated to being a responsible
Community partner.
Joanne C. Freeze, P.Geo., President and CEO and
Matthew Melnyk, CPG., Director Operations, are Qualified Persons as
defined by National Instrument 43-101 for the projects discussed
above. Ms. Freeze and Mr. Melnyk have reviewed and approved the
contents of this release.
Neither the TSX Venture Exchange nor its
Regulation Services Provider accepts responsibility for the
adequacy or accuracy of this release.
Forward-looking InformationThis
news release may contain forward-looking information (as such term
is defined under Canadian securities laws) including but not
limited to historical production records. While such
forward-looking information is expressed by Xali Gold in good faith
and believed by Xali Gold to have a reasonable basis, they may
address future events and conditions and are therefore subject to
inherent risks and uncertainties including those set out in Xali
Gold’s MD&A. Factors that cause the actual results to differ
materially from those in forward-looking information include,
without limitation, gold prices, results of exploration and
development activities, regulatory changes, defects in title,
availability of materials and equipment, timeliness of government
approvals, potential environmental issues, availability of capital
and financing and general economic, market or business conditions.
Xali Gold expressly disclaims any intention or obligation to update
or revise any forward-looking information, whether as a result of
new information, future events or otherwise, except in accordance
with applicable securities laws.
On behalf of the Board of Xali Gold
Corp.
“Joanne Freeze” P.Geo.President, CEO and
Director
For further information please contact:Joanne
Freeze, President & CEOTel: + 1 (604)
689-1957info@xaligold.com
NR 127
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