Xali Gold expands scale and grade at Pico Machay
Xali Gold Continues to Demonstrate the Scale and Grade of Gold Mineralization at Pico Machay VANCOUVER, British Columbia, July 28, 2026 (GLOBE NEWSWIRE) -- Xali Gold Corp. (TSXV:XGC) (“Xali Gold” or the “Company”) is pleased to report the completion of assay results from its initial underground and surface channel and rock chip sampling program (the “Program”) at its Pico Machay Gold Project (“Pico Machay” or the “Project”) in Central Peru. Highlights: High grades continue to be confirmed within historical resource area Gold mineralization and alteration characteristic of a high-sulphidation epithermal system have been identified in underground workings across an area measuring 1.35km by 0.83km 67 of 119 surface samples returned more than 0.50 g/t gold, helping refine exploration targets 2.92 grams per tonne (“g/t”) gold (“Au”) over 31.5 meters (“m”) from Surface Channel 1 including 13.76 g/t Au over 4.5m The historical resource (surface expression) area extends over approximately 750 m east-west by 150 m north-south. Within its core, Surface Channel 1 returned 2.92 g/t Au over 31.5 m, including 13.76 g/t Au over 4.5 m.
Surface Channel 1 is located approximately 40 m vertically above UG Channel 3A, supporting the presence and vertical continuity of higher-grade gold mineralization in this central area. As previously reported, UG Channel 3 NS returned 1.49 g/t Au over 41.1m, including 3.44 g/t Au over 8.0m. See Figures 1 and 2 below as well as Tables 1, 2 and 3 for complete results.
See the Company’s news release dated June 25 th , 2026, for previously reported results . A total of 13 underground (“UG”) workings are now known to have been excavated since 2020, of which 11 have now been mapped and sampled. All 11 UG workings expose gold mineralization and alteration characteristic of a high-sulphidation epithermal system, including vuggy silica and advanced argillic alteration.
The workings occur across an area extending approximately 1.35 kilometres (“km”) in a north