Galantas Gold Intersects 71 Meters at 0.76 g/t Gold in Its First Drill Hole at Andacollo Gold
Galantas reports high-grade, narrow core intersections at the Andacollo infill program, confirming the deposit's grade continuity.
Galantas Gold Corporation (GAL) has released the first assay results from its 15,000 m Andacollo drill programme, identifying significant gold mineralization in hole AN26001. Drilled at a 330° azimuth and -50° dip, the hole is located in the Tres Perlas pit area within the current Inferred Mineral Resource area.
The main reported interval returned 71.7 m at 0.76 g/t Au from 50.0 m to 121.7 m. This interval includes 10.0 m at 3.15 g/t Au from 92.0 m to 102.0 m, which further includes 3.0 m at 6.68 g/t Au from 94.0 m to 97.0 m. Additional intervals reported include:
- 17.11 m at 0.52 g/t Au from 145.54 m
- 18.0 m at 0.91 g/t Au from 213.0 m, including 3.0 m at 3.24 g/t Au
- 3.9 m at 0.37 g/t Au
- 8.0 m at 0.44 g/t Au
- 5.0 m at 0.25 g/t Au
- 18.08 m at 0.63 g/t Au from 298.0 m
Copper content in the main gold interval is low at 0.040% Cu, with soluble copper and cyanide-soluble copper assays pending. All listed intervals are described as “In MRE,” meaning they fall within the existing Mineral Resource Estimate rather than representing a new zone or step-out. Widths are reported as drilled, and true widths are not yet known. No cutoff grade is stated for the reported intervals.
The technical information has been approved by Dorian L. (Dusty) Nicol, QP. Samples were analyzed by Bureau Veritas Santiago using fire assay-atomic absorption with gravimetric finish for gold grades over 5 g/t Au. QA/QC protocols included the use of standards, blanks, and duplicates.
Galantas Gold Corporation (GAL) is a development-stage company holding a large defined resource at its Andacollo project, comprising 102.4 million tonnes of indicated resources at 0.45 grams per tonne gold for 1.47 million ounces of gold, and 347.9 million tonnes of inferred resources at 0.41 grams per tonne gold for 4.54 million ounces of gold. The company reported approximately C$108.9 million in cash as of 30 June 2026, with a market capitalization of roughly C$327 million based on the latest provided price.
The recent release focused on infill and resource-confidence drilling at Andacollo rather than a prior discovery hole. The main interval encountered was above the 0.41-0.45 grams per tonne gold resource grade over a meaningful length, serving as a confirmation of the existing resource model. The stock is not currently priced for a repeat of a prior discovery hole, having peaked at C$0.70 on 27 August 2026 and closed at C$0.39 on 6 November 2026. Consequently, the release is not fighting an embedded high-grade expectation. However, the absolute result remains incremental, representing a single infill hole inside the mineral resource estimate with no new zone, resource upgrade, preliminary economic assessment revision, or metallurgical breakthrough.
Historical Andacollo intercepts cited in the investor presentation, such as 175 meters at 0.89 grams per tonne gold, 130 meters at 0.85 grams per tonne gold, and 99 meters at 1.47 grams per tonne gold, are historical presentation figures rather than fresh NI 43-101 assays in this release. They are not a like-for-like anchor for the current hole. The result supports the mine-plan thesis and the presence of higher-grade manto zones but does not change the scale of the 6 million ounce resource, the restart timeline, or the equity story by itself. As a near-term developer with a defined resource, a single infill hole at or above resource grade is considered routine.
Galantas Gold Corporation, listed on the TSXV and AIM with OTCQB exposure, is shifting its focus from historical Northern Ireland assets to gold-copper projects in Chile. The company’s Andacollo Gold project is a brownfield, past-producing open-pit heap-leach site located in the Coquimbo region, approximately 55 km southeast of La Serena and adjacent to Teck’s Carmen de Andacollo copper-gold mine. The current mineral resource estimate indicates 102.4 Mt at 0.45 g/t Au for 1.47 moz Au, and 347.9 Mt inferred at 0.41 g/t Au for 4.54 moz Au, totaling approximately 6.01 moz Au contained.
Andacollo features existing infrastructure and permits, alongside a planned acquisition of a 20,000 tpd crushing plant. The company targets a restart in the first half of 2027, with a preliminary economic assessment targeted for the fourth quarter of 2026. Additionally, the Indiana Gold-Copper project holds an inferred resource of 4.93 Mt at 2.24 g/t Au and 1.31% Cu, containing about 355,516 oz Au and 64,690 t Cu. This underground vein project, which includes a small-scale past producer, has seen production start dates cited as either the end of 2026 or the end of 2027.
Financially, Galantas reported cash of approximately C$108.9M at 30 June 2026, following a C$100M private placement in May 2026, resulting in a working capital surplus of about C$91.6M. The company remains pre-revenue. As of 1 October 2026, there were approximately 838.5M basic shares outstanding, with fully diluted shares exceeding 1.08B when including options, RSUs, warrants, and convertible debentures.