Galantas Gold Provides Update On Acquisition Of The Andacollo Oro Gold Project, Chile
Galantas pivots to Chile with major acquisition and permitting breakthrough at Andacollo
The most recent news (March 31, 2026) confirms that Galantas Gold has received written confirmation from the Chilean environmental authority (SEA) that the restart of the Andacollo Oro Gold Project does not require a new Environmental Impact Assessment (EIA). This allows the company to operate under existing permits (RCA No. 151/2014). Additionally, the company has reallocated $8.4 million of its $15.5 million December financing specifically to fast-track Andacollo. The acquisition of Sol de Oro Mining (which owns Andacollo) is expected to close in Q2 2026.
This news is Material - Positive because it removes the single largest regulatory risk and time-delay associated with mine restarts. By bypassing a new EIA, Galantas saves years of permitting uncertainty and significant capital. The reallocation of funds demonstrates a strategic shift in priority toward Andacollo over the Indiana Project, likely due to the "step-change" potential of Andacollo’s existing infrastructure (200,000 oz/pa ADR plant). However, the reallocation means the Indiana Project's budget is reduced, though it remains funded for a PEA.
Galantas Gold has historically focused on the Omagh Gold Mine in Northern Ireland but has pivoted to Chile. - Flagship Project: Andacollo Oro Gold Project (Chile). A past-producing open-pit heap leach mine with historical production of 1.12M oz Au. It features a 200,000 oz/pa ADR plant. - Secondary Project: Indiana Gold-Copper Project (Chile). Inferred resource of 4.93Mt at 2.24 g/t Au and 1.31% Cu.