Xali Gold Corp. has entered into a binding agreement to option the Sarape Project in Northern Mexico from Advanced Lithium Corp., enhancing its portfolio of epithermal precious metal assets. Located in the Rio Sonora Valley, the 57-square-kilometer project showcases significant gold and silver mineralization potential. This strategic move aligns with Xali Gold’s focus on unlocking value through targeted exploration in a leading mining district.
On February 28, 2025, Xali Gold Corp. announced a strategic agreement to option the Sarape silver-gold Project in Northern Mexico from Advanced Lithium Corp. This acquisition strengthens Xali Gold’s portfolio of valuable epithermal precious metal assets, highlighting the exploration potential in a region known for its high-grade silver and gold resources. The Sarape Project spans 57 square kilometers in the Rio Sonora Valley, an area with established mining operations, including those from renowned companies like First Majestic Silver and SilverCrest Metals.
The Sarape Project is strategically located approximately 20 kilometers from the SilverCrest’s Las Chispas Mine. It features extensive vein systems rich in gold and silver near the surface, yet deeper potential remains largely untested. Xali Gold aims to apply its expertise to explore these depths, enhancing the project’s value significantly.
Joanne Freeze, CEO of Xali Gold, expressed enthusiasm for the acquisition, emphasizing its potential similar to SilverCrest’s Las Chispas deposit. “This transaction provides a significant opportunity for our shareholders as we plan an accelerated exploration program at Sarape,” she stated. Allan Barry Laboucan, CEO of Advanced Lithium Corp., also commented positively on this partnership and the valuable synergies between the projects.
Sarape Project highlights include its prime location within a prolific mining district, significant mineralization with extensive vein lengths, and favorable geology indicative of low-sulphidation deposits. The existing infrastructure surrounding the project facilitates its development.
As part of the option agreement, Xali Gold will earn a 90% interest through various payments and share issuances over a period of time, contingent upon completing specific drilling milestones. Regulatory approvals will dictate the timeline for completing the earn-in.
Xali Gold plans to focus on other promising targets while terminating its option on the Majo property to concentrate resources effectively. Furthermore, the recent activity surrounding the Tres Maria’s Project indicates the ongoing exploration potential in the region.
In addition to the Sarape Project, Xali Gold holds significant gold and silver projects in Peru and Mexico, with a commitment to community involvement and responsible exploration practices. Joanne C. Freeze, the Qualified Person, has authorized this release, ensuring the compliance of industry standards and practices.
Xali Gold’s acquisition of the Sarape silver-gold Project from Advanced Lithium Corp. represents a significant expansion of its portfolio in a rich mining region. The strategic location, mineralization potential, and beneficial geological features position Sarape as a promising opportunity for exploration and development. This venture, alongside ongoing projects in Peru, highlights Xali Gold’s commitment to leveraging its expertise for shareholder value while maintaining responsible community partnerships.
Original Source: www.globenewswire.com
