Xali Gold Corp. (TSXV:XGC) has announced the first assay results from its recently completed underground and surface channel and rock chip sampling program at the Pico Machay Gold Project in Central Peru. The results confirm higher-grade gold mineralization, with significant intervals including 2.22 grams per tonne gold over 45.1 meters from underground channel 1 and 2.28 g/t gold over 40.0 meters from surface channel 2.
Key Assay Results
The program included systematic channel sampling within previously unsampled underground workings and surface rock chip sampling across the resource area. Assay results have been received for 51 of 197 samples collected to date, representing about 25% of the total. Highlights from the underground channels include 4.17 g/t gold over 20.0 meters within the 45.1-meter interval, 1.49 g/t gold over 41.1 meters from UG Channel 3 NS including 3.44 g/t gold over 8.0 meters, and 4.41 g/t gold over 13.7 meters from UG Channel 3 EW including 6.45 g/t gold over 6.5 meters.
CEO Comments
“We are very encouraged by these initial results,” stated Joanne Freeze, President and CEO of Xali Gold. “While channel sampling differs from drilling, the systematic nature of the Program and the ability to sample continuously across recently exposed mineralized zones provide valuable insight into the grade variation and continuity of mineralization at Pico Machay. The results received to date further strengthen our confidence in the Project and we look forward to completing the Resource Update and PEA.”
Sampling Methodology
Underground sampling was completed in three horizontal channels extending over 15 to 46 meters in length, oriented north-south or east-west, along with some smaller workings. The two north-south channels are 150 meters apart, and the east-west channel connects to the southern end of UG Channel 3 NW. Continuous channel samples were collected from the eastern walls over 2 to 4 meter intervals, providing grades and data over extensive lengths not previously sampled. The nature of these channels makes them similar to horizontal drill holes.
Project Significance
The remaining assay results are expected in the coming weeks and will support the Company's efforts to validate, update, and potentially upgrade the historical mineral resource estimate at Pico Machay. The samples consist of 78 underground channel samples and 119 surface samples collected to date.
