Xali Gold Developing Drill Targets at Sarape Project Near Las Chispas Mine in Mexico

Toronto Star

23-07-2025

VANCOUVER, British Columbia, July 23, 2025 (GLOBE NEWSWIRE) — Xali Gold Corp. (TSXV:XGC) ('Xali Gold' or the 'Company') is pleased to announce that it has completed strategic data compilation studies on the Sarape silver-gold Project ('Sarape' or the 'Project'), in Northern Mexico under option from Advanced Lithium Corp. ('AALI'). Xali Gold optioned the Sarape Project believing that it covers the northerly extension of a trend of multiple low-sulphidation veins systems including the high-grade silver and gold system at the Las Chispas Mine roughly 20 km to the southwest (Figure 1). Prior to Las Chispas being sold to Couer Mining Inc. ('Couer') by SilverCrest Metals for C$2.4 billion, Las Chispas was estimated to contain Proven and Probable Reserves of 33.5M ounces ('oz') of silver ('Ag') and 357,000 oz of gold ('Au').
Two extensive vein structures found on Sarape appear to be typical of low-sulphidation epithermal systems like those at Las Chispas, where mineral-rich fluids deposit silver and gold within a specific zone known as the 'boiling zone'. Within this zone, the highest-grade mineralization often occurs in secondary shoots controlled by structural features. This type of epithermal system is common in northern Mexico and includes notable examples like Coeur's Las Chispas Mine, First Majestic Silver's Santa Elena Mine and Bear Creek Mining's Mercedes Mine (Figure 1), which share similar geological characteristics.