NEWS: XALI GOLD STEPS CLOSER TO DRILLING ELORO 2022-03-02 07:00 ET - News Release
VANCOUVER, British Columbia, March 02, 2022 (GLOBE NEWSWIRE) -- Xali Gold Corp. (TSXV:XGC) ("Xali Gold" or the "Company") is pleased to announce that based on three-dimensional ("3D") modelling and surface area review, it has finalized locations for drill pads for the 100% held El Oro gold-silver Project in Mexico.
New drill targets have been identified by using a 3D Leapfrog model and drillholes have been designed to test potential extensions to high-grade gold and silver zones intersected by previous drilling. Based on surface area review, a total of 20 locations were selected as potential drill pad locations from which to test these new targets. Some of the pads will be used for multiple holes. These drill pad locations will be included in the permit application which will be submitted shortly.
The Mexico-Esperanza high-grade intersections at the El Oro Project include:
- 16.7g/t Au & 32.5g/t Ag over 1.4m
- 30.7g/t Au & 3.0g/t Ag over 1.9m
- 12.8g/t Au & 44.0g/t Ag over 0.5m
- 13.7g/t Au & 6.5g/t Ag over 3.0m
- 2.4g/t Au & 372g/t Ag over 0.5m
- 18.1g/t Au & 137g/t Ag over 0.4m and
- 1.0g/t Au & 5.0g/t Ag over 75m
A video showing the Leapfrog model can be found on the Company's website.
"We are now one step closer to getting back to drilling at our flagship project, El Oro," says Joanne Freeze, President and CEO of Xali Gold. "The El Oro district, which we hold 100% of, is a well-known historic mining district with over 8 million ounces of gold equivalent produced historically from only 2 of more than 50 known veins. While we knew we have a stacked boiling system, the new 3D modelling has really helped us understand the spatial relationships between the various high-grade intersections in different veins. The disseminated and high-grade intersections are literally stacked above one another, indicating a structural control with a vertical component. The disseminated gold mineralization in the tuffaceous horizon is also indicative of an underlying feeder vein system."