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Mining & Metals

Xali Gold Says $1 Million Private Placement Is Fully Subscribed

Xali Gold's (XGC.V) non-brokered private placement for proceeds of $1 million is fully subscribed by two placees, it said on Thursday.The advancement of the company's Pico Machay Gold project, an advanced exploration stage project in Peru with a near-term production goal, will be supported by about 75% of the proceeds from the private placement. The balance of the proceeds will be directed toward working capital and general corporate needs, it said.The offering consisted of the issuance of 4-million common shares at $0.25 apiece. The private placement received conditional acceptance from the TSX Venture Exchange (TSXV) and remains subject to final acceptance.Shares of the company closed down 5.7% to $0.25 on Wednesday on the TSXV.

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Mining & Metals

Xali Gold Raising C$1 Million to Advance Pico Machay Project in Peru

Xali Gold (XGC.V) is raising C$1 million in a private placement to advance the Pico Machay gold project in Peru.The offering comprises 4 million shares priced at C$0.25 apiece. Closing is expected June 17.Xali plans to use about 75% of the proceeds for exploration and development of Pico Machay, including activities aimed at supporting an updated mineral resource estimate, permitting initiatives and ongoing technical studies, as well as community initiatives.The company will use the proceeds for working capital and general corporate purposes.

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Mining & Metals

Xali Gold Completes Baseline Studies on Pico Machay Gold Project in Peru

Xali Gold (XGC.V) completes the baseline studies required for the Ficha Tecnica Ambiental Drilling Permit (FTA) on its Pico Machay Gold project, it said on Thursday.The Peruvian environmental and social consulting firm engaged by the company, GEADES, is now receiving, compiling and interpreting the laboratory results from the completed sampling program in order to finalize the baseline studies and prepare the FTA application, which is expected to be submitted to the General Directorate of Mining Environmental Affairs of Ministry of Energy and Mines in Peru by or near the end of June.The company expects to continue technical evaluations and planning activities related to future drilling, metallurgical studies, resource modelling, and advancement of a PEA, following submission of the FTA application.Shares of the company closed down 5.4% to $0.265 on Wednesday on the TSX Venture Exchange.

$XGC.V
Mining & Metals

Xali Gold Advances Pico Machay Gold Project With Underground and Surface Sampling Program

Xali Gold (XGC.V) has completed more than 50% of the initial underground and surface rock chip sampling program on its Pico Machay Gold project in central Peru, with 125 initial samples now collected and submitted to the laboratory for geochemical and assay analyses, it said Wednesday.To date, 36 samples were collected from underground, and 89 samples were collected on surface, all from within areas of mineralization. Results from this program are expected to support the updating and potential upgrading of the historical resource to a current, compliant mineral resource estimate, with completion targeted for Q3 2026, as well as support the advancement of a Preliminary Economic Assessment, the company said."The underground sampling was conducted in the walls of two crosscuts through the centre of the resource, which allows continuous sampling similar to what a horizontal drill hole would allow," said Xali Gold Chief Executive Joanne Freeze. "Surface sampling was conducted in channels cut in outcropping mineralized zones and was also continuous."Shares of the company were last seen unchanged at $0.27 on the TSX Venture Exchange.

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