Xali Gold has signed a share purchase agreement to acquire the Pico Machay gold project in Central Peru from Minera Calipuy, owned by Pan American Silver and Aquiline Resources. The project has a historic resource of 264,600oz of gold and an inferred resource of 446,000oz of gold. Xali Gold’s president and CEO sees this acquisition as a key move to expand in a prolific gold-silver region. They plan to update resource estimates and engineering studies for near-term production goals and explore other prospects in the area for potential acquisition and expansion.

Read more at Yahoo Finance: Xali Gold signs SPA to acquire Pico Machay gold project