Xali Gold Corp V.XGC

XALI GOLD – MINING TO BEGIN AT FLAGSHIP EL ORO MEXICO!!!!

[gmcmachine]

XALI GOLD – MINING TO BEGIN AT FLAGSHIP EL ORO MEXICO!!!!
 
Xali Gold’s announcement today that they are about to begin mining their flagship El Oro property with Rio Verde Resources is one of the most significant news releases from the company in years!

 
https://www.stockwatch.com/News/Item/Z-C!XGC-3578519/C/XGC

 
Why is this news so significant?

Xali Gold’s agreement with Rio Verde Resources to extract gold and silver from El Oro has reactivated the flagship project of this prolific gold system!

 
Joanne Freeze, president and chief executive officer of Xali Gold states:

"Rio Verde is well known for their ability to get into production in record time, to make good profits and to discover mineral deposits. This new partnership will allow us to keep all the exploration upside we have demonstrated by our previous drilling underneath the historic workings while we work together with Rio Verde to test exploration concepts and get underground access for future drilling as well as pay back our debts on the mineral rights."

 
“Luismin-Hillsborough estimated there to be a potential for 762,000 ounces gold and 9.8 million ounces silver in the historic workings.”

 
Current est. metal value: $2,000,000,000 (US)

 
Xali Gold will have underground access to begin drilling their El Oro stacked system targets!

 
Xali Gold has recently entered into several agreements to provide cash flow to fund drilling and exploration plans.

 
The recent agreement between Xali Gold and Kappes, Cassiday and Associates (KCA) to begin processing the tailings from El Oro without any further permitting is in progress.  KCA has teamed up with Starcore International Mines to develop the tailings project.  A 34-hole drilling program of the tailings has been completed and samples have been sent to the Kappes, Cassiday & Associates (KCA) lab in Reno, Nev., for the metallurgical test work.

 
To ensure that the drilling program evaluated the entire extent of the tailings, the program was expanded from the initially planned 20 holes to 34 holes which averaged 20 metres deep. The recent drilling program also determined that the average depth of the tailings is slightly deeper than previous studies. Drilling was carried out by Major Drilling Group International using a sonic rig core drill.

 
The El Oro tailings contain an estimated 110,000 oz gold and 3,061,200 oz silver; with upside potential

 
Current est. metal value: $340,000,000 (US)

 
SDA plant in western Mexico is operational, processing and cash flow generating.

 
Xali Gold and their partners are moving forward quickly and strategically as they are highly motivated to capitalize on current gold prices for all stakeholders.

[bonsai2]

Agree it's good news and highly encouraging. But with the current terms we woun't make big money yet. 3percent nsr on lets say between 1-2 billion metal value could be appx. 15-20 Mio USD maybe? Coming in over the next 5-10 years. Depending on mining costs gold price etc. The operator will get the big bite. But also has the risk of financing the whole operation. We'll see how it works

[gpwild]

Who si this Rio Verde company? They don't seem to have any website. Hmm.