- Xali Gold (XGC) has signed an agreement to acquire a 100-per-cent interest in the Victoria Property
- The Victoria Property is located three kilometres southwest of Marathon’s Valentine Gold Project, within a structurally controlled gold belt of Central Newfoundland
- The area is seen as an emerging significant exploration jurisdiction in Canada
- Fieldwork is scheduled to begin in September once an exploration permit has been received
- Xali Gold Corp is a mineral exploration company engaged in the exploration of mineral right interests in Mexico and Peru
- Xali Gold (XGC) is up 9.09 per cent, trading at C$0.06 at 1:34 pm ET
Xali Gold (XGC) has signed an agreement to acquire a 100-per-cent interest in the Victoria Property.
The Victoria Property is located three kilometres southwest of Marathon’s Valentine Gold Project, within a structurally controlled gold belt of Central Newfoundland.
The area is an emerging significant exploration jurisdiction in Canada.
The Victoria Property, comprising 79 claims covering 1,975 hectares, is also situated 65 kilometres southwest of the historic mining town of Buchans where mining was continuous for 57 years starting in 1905.
“While we are still very committed to and enthusiastic about our gold projects in Mexico, we couldn’t pass up the opportunity to acquire such an exciting gold exploration play in Newfoundland where recent exploration successes have already defined two new gold deposits and several discoveries. Our team has spent various years working in Newfoundland in the past and we are very excited to be back, especially with a project in such close proximity to Atlantic Canada’s largest undeveloped gold resource,” said Xali Gold CEO Joanne Freeze.
The new gold district occurs within a northeast-trending structural corridor defined by crustal-scale faults extending from southwestern to north-central Newfoundland.
An exploration permit application was submitted to the Newfoundland government on June 30 and the permit is expected to be issued prior to early September 2021 when field work is planned to commence.
Xali Gold Corp is a mineral exploration company engaged in the exploration of mineral right interests in Mexico and Peru.
Xali Gold (XGC) is up 9.09 per cent, trading at C$0.06 at 1:34 pm ET.
