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Xali Gold Corp. ( (TSE:XGC) ) has provided an announcement.
Xali Gold Corp., based in Vancouver, has entered into a definitive agreement with Remedioambiente to commence underground test work at the historic El Oro mine in Mexico. The focus will be on identifying effective recovery methods for gold and silver and establishing the best underground access, with Xali Gold receiving a 3% net smelter return on all gold and silver recovered above the 2400-meter level. This agreement extends the collaboration initiated by a previous letter of intent, allowing Remedioambiente to invest a minimum of US$1 million annually over an initial five-year term, with an option to extend. Xali Gold retains exclusive rights to any mineral bodies found below the 2400-meter level, while Remedioambiente will maintain the mining concessions in good standing. This partnership aims to enhance exploration potential, provide underground access for drilling high-grade targets, and ensure up-to-date mineral rights fees, likely benefiting stakeholders and strengthening Xali Gold’s industry positioning.
More about Xali Gold Corp.
YTD Price Performance: -12.50%
Average Trading Volume: 60,316
Technical Sentiment Consensus Rating: Strong Buy
Current Market Cap: C$4.98M
Find detailed analytics on XGC stock on TipRanks’ Stock Analysis page.
