- Xali (XGC) has been advised by Sun River Gold that the El Oro tailings reprocessing will be operational by Q2 2022
- Sun River has secured financing, procured the majority of the reprocessing equipment and expects to receive permits within one month
- The mine tailings contain an inferred resource of 119,900 ounces of gold and 3,061,200 ounces of silver
- Joanne Freeze, Xali’s President and CEO, spoke with Caroline Egan about the arrangement
- Xali Gold acquires gold and silver projects with near-surface exploration potential, near-term production potential and previous mining histories
- Xali Gold (XGC) is unchanged trading at $0.06 per share
Xali (XGC) has been advised by Sun River Gold that the El Oro tailings reprocessing will be operational by Q2 2022.
Sun River has secured financing, procured the majority of the reprocessing equipment and expects to receive permits within one month.
Xali subsidiary, CCM El Oro Jales, has an agreement with El Oro, Mexico, to recover all available gold and silver from the tailings deposit and pay the municipality 8 per cent in net profit interest (NPI).
Sun River has the option to acquire 100-per-cent of the project from CCM El Oro by paying US$500,000 (paid), bringing the tailings into commercial production by March 31, 2022, and granting the company a 5-per-cent NPI life of mine royalty.
The mine tailings contain an inferred resource of 119,900 ounces of gold and 3,061,200 ounces of silver.
Joanne Freeze, Xali’s President and CEO, sat down with Caroline Egan to discuss the arrangement.
Xali Gold acquires gold and silver projects with near-surface exploration potential, near-term production potential and previous mining histories.
Xali Gold (XGC) is unchanged trading at $0.06 per share as of 1:38 pm ET.