- Xali Gold (XGC) announced the company has signed a new production and exploration agreement with Ingenieros Mineros
- The accord covers the El Dorado Gold-Silver Project, located in Nayarit State, Mexico
- The agreement gives the company the right to explore and produce gold, silver and other metals for life of mine
- Drill Permit applications are in progress and are expected to take 3 to 4 months to receive from the date of submission
- Xali Gold is flat, trading at $0.085 at 11:47 am ET
Xali Gold (XGC) announced the company has signed a new production and exploration agreement with Ingenieros Mineros.
The accord covers the El Dorado Gold-Silver Project, located in Nayarit State, Mexico.
The agreement gives the Vancouver-based mineral exploration company the right to explore and produce gold, silver and other metals for the life of the mine.
Under the terms of the agreement, Xali Gold has the obligation to meet a number of payment conditions, including C$30,000 per year until the commencement of commercial production for a maximum of 5 years.
Once in production, mineralization is planned to be processed in the nearby SDA plant under acquisition from Magellan Acquisitions.
In preparation for production, Xali Gold is actively preparing the requisite permit applications as well as those required to conduct precursor exploration activities. Planned exploration activities will include re-establishing underground access for mapping, rock chip and bulk sampling with a goal of defining high-grade zones.
Drill Permit applications are in progress and are expected to take 3 to 4 months to receive from the date of submission.
The El Dorado Gold-Silver Project is located in the Pacific Coastal Plain, State of Nayarit, 50 kilometres south of the SDA Plant, which Xali Gold has an option to purchase from Magellan Acquisition Corp.
Xali Gold has launched a comprehensive growth strategy to build a cash-flowing business platform and gain access to properties with near-surface exploration potential while maintaining El Oro as its flagship asset
Xali Gold is flat, trading at $0.085 at 11:47 am ET.