Galantas Gold Begins Drilling at Andacollo
Galantas has commenced drilling at its Andacollo project in Chile, advancing the restart of the mine toward a targeted 2027 production start date.
Galantas Gold Corporation has commenced an initial 15,000-meter drill program at its 100%-owned Andacollo Gold Project in Chile. The initiative aims to test extensions of higher-grade gold zones, identify new mineralization, and explore for potential porphyry copper deposits linked to Teck Resources' adjacent Carmen de Andacollo mine. Infill drilling is intended to improve resource model confidence and support mine planning for the targeted H1 2027 restart.
The first drill rig is currently active in the Tres Perlas pit area, with two additional rigs expected to arrive by late September, bringing the total to three active rigs. Exploration targets include near-surface, higher-grade gold mineralization and potential copper resources to increase overall gold grade and tonnage.
Qualified Person: Dorian L. (Dusty) Nicol, P. Geo., FAusIMM.
The announcement represents a standard execution step following the June 2026 acquisition, July 2026 crushing plant purchase, and August 2026 permitting approvals. It aligns precisely with management's previously stated development timeline and does not introduce new financial, strategic, or operational surprises. The market was already aware of the planned drilling program; therefore, the news is incremental and expected. No material change to the company's valuation, cash flow profile, or near-term catalysts is introduced by this update.
Galantas Gold Corporation (GAL) is a Canadian mining company that has shifted its strategic focus to two Chilean gold-copper projects following the divestment of its Northern Ireland assets. The company’s flagship asset is the Andacollo Gold Project, a past-producing open-pit heap-leach operation that generated 1.12 moz of gold between 1998 and 2018. An updated mineral resource estimate (MRE) from February 2026 reports 102.4 Mt of Indicated resources grading 0.45 g/t Au (1.47 moz) and 347.9 Mt of Inferred resources grading 0.41 g/t Au (4.54 moz).
The company also holds the Indiana Project, a secondary underground gold-copper property containing 4.93 Mt of Inferred resources grading 2.24 g/t Au and 1.31% Cu, representing 355,516 oz of gold and 64,690 tonnes of copper. Galantas is pursuing a brownfield restart strategy that leverages existing infrastructure, including a newly acquired 20,000 tpd crushing plant, with a low capital intensity approach aimed at targeting production in 2026–2027.