Xali Gold has launched a comprehensive growth strategy to acquire rights to gold and silver projects in Mexico with near surface exploration potential and previous mining histories.
The acquisition of the SDA Plant, suitable for treating high grade gold and silver mineralization, along with the acquisition of rights to the El Dorado gold and silver historic mines was the initial step in this strategy.
The profit sharing agreement on the potentially leachable Cocula Project was the second step. The Company is currently evaluating other properties complementary to the SDA plant and El Dorado or stand alone such as the Cocula Project.
El Oro remains as our flagship asset as it is a district scale gold project encompassing a well-known prolific high-grade gold-silver epithermal vein system in Mexico. The project covers 20 veins with past production and more than 57 veins in total, from which approximately 6.4 million ounces of gold and 74 million ounces of silver were reported to have been produced from just two of these veins (Ref. Mexico Geological Service Bulletin No. 37, Mining of the El Oro and Tlapujahua Districts. 1920, T. Flores*). Modern understanding of such systems indicates that several of the El Oro district's veins hold excellent discovery potential.