Xali Gold has completed more than half of the initial underground and surface rock chip sampling at the Pico Machay gold project in central Peru.
A total of 125 samples have been gathered and sent for geochemical and assay analysis.
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The project’s current phase involves collecting 36 underground samples and 89 surface samples from mineral-rich areas.
The initial phase of the programme began with the Xali Gold technical team performing geological mapping to identify lithological, alteration and mineralisation contacts.
Systematic sampling followed, using lengths typically between 2m and 4m.
Underground sampling took place in two north-south oriented galleries, where continuous samples of 2–4m were gathered from the east side walls.
These galleries were constructed perpendicularly to fracturing and hydrothermal breccia structures, which trend east-west and dip to the north.
Surface sampling involved cutting channels over outcropping mineralisation, with sections typically 2–4m long and 0.20–0.30m wide.
For hydrothermal breccia structures, samples were taken every 5m by cutting perpendicular channels extending into adjacent wall rocks.
The programme’s results are intended to help update and potentially enhance the historical resource to a compliant mineral resource estimate by the third quarter of 2026, as well as advance a preliminary economic assessment.
Samples have been sent to ALS Peru for analysis, utilising methods such as Atomic Absorption, Fire Assay for gold and silver, and Inductively Coupled Plasma Mass Spectrometry for multi-element analysis.
Xali Gold president and CEO Joanne Freeze said: “The underground sampling was conducted in the walls of two crosscuts through the centre of the resource, which allows continuous sampling similar to what a horizontal drill-hole would allow.
“Surface sampling was conducted in channels cut in outcropping mineralised zones and was also continuous. This sampling is to verify historical grades, lithologies and alteration zones, as well as allow us to better understand the geometry and grade distribution of the mineralising system and the historical resource.
“This programme builds on a series of recent milestones at Pico Machay, including community support, advancing permitting initiatives and mobilising in-country technical expertise.”
In October 2025, Xali Gold signed a share purchase agreement to acquire Minera Calipuy, the owner of the Pico Machay gold project.
