Xali Gold provides the latest information on drill permits in El Oro, Mexico. CanadianBusinessJournal

Vancouver, British Columbia, March 2, 2022 (GLOBE NEWSWIRE) — Xali Gold Corp. (TSXV: XGC) (“Xali Gold” or “Company”) announced based on three-dimensional (“3D”) modeling. .. A surface area review confirmed the location of the drill pad for the ElOro Gold and Silver Project, which was 100% held in Mexico.

A 3D Leapfrog model was used to identify new drill targets and designed drill holes to test potential expansion into high-grade gold and silver zones crossed by previous drills. Based on surface area reviews, a total of 20 locations were selected as potential drill pad locations for testing these new targets. Some pads are used for multiple holes. The location of these drill pads will be included in the upcoming permit application.

The Mexico-Esperanza High Grade intersections of the El Oro Project are:

-Over 1.4m 16.7g / tAu and 32.5g / t Ag
-30.7g / tAu and 3.0g / t Ag over 1.9m
-Over 0.5m 12.8g / tAu and 44.0g / t Ag
-Over 3.0m 13.7g / tAu and 6.5g / t Ag
-2.4g / tAu and 372g / t Ag over 0.5m
-18.1g / tAu and 137g / t Ag, 0.4m and above and
-1.0g / tAu and 5.0g / t Ag over 75m

A video showing the Leapfrog model can be found on our website.

Joanne Freeze, President and CEO of Xali Gold, said: “Our 100% owned El Oro district is a well-known historic mining area, equivalent to more than 8 million ounces of gold historically produced from only two of the more than 50 known veins. I knew there was a stacked boiling system, but the new 3D modeling really helped me understand the spatial relationships between different high-grade intersections of different veins with scattered intersections. High-grade intersections are literally stacked on top of each other, demonstrating structural control by vertical components. The gold mineralization of the tuff horizon also demonstrates the underlying feeder vein system. “

About Xali Gold

Xali Gold has growth strategies to win near-surface exploration potential, short-term production potential, and gold and silver projects with previous mining history in Newfoundland, Mexico and Canada. I am. Xali Gold plans to move its growing banks of gold and silver assets forward in collaboration with internal and / or industry partners.

El Oro is a district-wide gold project that includes the well-known prolific, high-grade gold-dominated gold-silver hydrothermal vein system in Mexico. The project covers 20 veins produced in the past, with a total of more than 57 veins, of which approximately 6.4 million ounces of gold and 74 million ounces of silver are produced from only two of these veins. (Mexico Geological Service Bulletin Nr .37, El Oro and Tlapujahua district mining. 1920, T. Flores).

A modern understanding of the thermal external vein system allows for excellent discovery of some of the veins in the El Oro area, especially under and adjacent to the historic veins of the San Rafael vein, which was mined to an average depth of only 200 meters. It shows that it has sex.

Xali Gold is dedicated to becoming a Responsible Community Partner.

Joanne C. Freeze, P. Geo. , President, CEO and Matthew Melnyk, CPG. , Director Operations is a qualified person as defined in National Instrument 43-101 of the above project. Freeze and Melnyk have reviewed and approved the content of this release.

Neither the TSX Venture Exchange nor its regulatory service providers are responsible for the validity or accuracy of this release.

Information about the future outlook

This news release contains forward-looking information (defined by Canadian Securities Law), including information on mineral resource estimates for the Mexican mine Tailings and references to past resource estimates for potential discoveries in Victoria. The term) may be included. , El Dorado, Cocula, El Oro Properties, and other statements that are not historical facts. Such forward-looking information is expressed in good faith by Xali Gold and we believe that Xali Gold has a reasonable basis, but to address future events and circumstances, Xali Gold It is subject to the inherent risks and uncertainties, including those listed in the MD & A. Factors that may cause actual results to differ materially from forward-looking information include gold prices, exploration and development activities, regulatory changes, title defects, availability of materials and equipment, timeliness of government approval, and possible. Includes, but is not limited to, gender. 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 as new information, future events, or other consequences, except in accordance with applicable securities law.

On behalf of the board of directors of Xali Gold Corp.

“Joan Freeze” P.Geo.
President, Chief Executive Officer and Director

For more information, please contact:
Joan Freeze
President and CEO
Tel: +1 (604) 689-1957

NR 111

CBJ News Maker

Xali Gold provides the latest information on drill permits in El Oro, Mexico. CanadianBusinessJournal

Source link Xali Gold provides the latest information on drill permits in El Oro, Mexico. CanadianBusinessJournal

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