Andacollo Gold Project Drilling Results
Summary by AI BETAClose X
GALANTAS GOLD INTERSECTS 71 METERS AT 0.76 G/T GOLD IN ITS FIRST DRILL HOLE AT ANDACOLLO GOLD
Toronto, Ontario – November 9, 2026 – Galantas Gold Corporation (TSX-V: GAL | AIM: GAL) (“Galantas” or the “Company”) announces positive results from its first drill hole at Andacollo Gold project in Chile. The ongoing 15,000-meter drill program, currently with two rigs, is designed to increase confidence in the Mineral Resource, provide infill drilling for the mine plan under development, and test new exploration targets. The first hole (AN26001) was drilled in the Tres Perlas pit area and had the objective of increasing confidence in the manto-hosted gold resource. Gold and total copper assays have been received while soluble copper and cyanide-soluble copper assays are still pending.
HIGHLIGHTS
-
Significant gold intersections in hole AN26001:
- 71 meters (m) at 0.76 grams per tonne gold (g/t Au) from 50 m to 122 m, including 10 m at 3.15 g/t Au, which in turn included 3 m at 6.68 g/t Au
- 17 m at 0.52 g/t Au from 145 m
- 18 m at 0.91 g/t Au from 213 m, including 3 m at 3.24 g/t Au
- 18 m at 0.63 g/t Au from 298 m
- Gold mineralization in mantos: These mineralized intercepts represent manto mineralization hosted in volcanic rocks, typical of the gold mineralization comprising the Andacollo Gold Mineral Resource. The higher-grade zones appear to be related to primary mineralization in the mantos themselves and not to post-manto structures as is observed in other parts of the Andacollo Gold Mineral Resource. This suggests potential lateral continuity and therefore tonnage potential for these higher-grade zones.
- Copper values: Copper values in the gold-mineralized intervals are low, as expected, which bodes well for heap-leaching. This drill hole did not target the chalcocite blanket that is postulated to extend from Teck’s adjacent Carmen de Andacollo porphyry copper deposit.
- Resource confidence: AN26001 was drilled in the Inferred Resource area of the Tres Perlas pit. These drill results add confidence to this portion of the Mineral Resource.
Mario Stifano, the Company’s CEO, commented: “We are very encouraged by the results from our first drill hole at Andacollo Gold. The 71-meter intercept at well above average resource grade adds further confidence to the current Mineral Resource. The multiple zones of higher-grade mineralization in manto mineralization, as opposed to in cross-cutting structures, gives us confidence that we will be able to identify more zones of higher-grade mineralization for inclusion in the mine plan that is currently being developed. In addition, the low copper values in this drill hole bode well for gold heap leaching. The ongoing program will also test for copper mineralization on the Andacollo Gold project.”
Drill Hole AN26001
The location of drill hole AN26001 is shown in Figure 1. The infill results (see Table below) confirm gold mineralization in the Inferred Resource at the Tres Perlas pit area.
|
Drill Hole ID |
Azimuth/ Dip (degrees) |
From (m) |
To (m) |
Interval (m) |
Au (g/t) |
Cu (%) |
In / Out of MRE |
Lithology |
|
AN26001 |
330 / -50 |
50.0 |
121.7 |
71.7 |
0.76 |
0.040 |
In MRE |
Intercalated andesitic flows and flow-top breccia |
|
|
|
Incl. 92.0 |
102.0 |
10.0 |
3.15 |
0.067 |
In MRE |
|
|
|
|
Incl. 94.0 |
97.0 |
3.0 |
6.68 |
0.057 |
In MRE |
|
|
|
|
145.54 |
162.65 |
17.11 |
0.52 |
0.037 |
In MRE |
Andesitic flow-top breccia |
|
|
|
213.0 |
231.0 |
18.0 |
0.91 |
0.013 |
In MRE |
Polymictic volcanic breccia |
|
|
|
Incl. 221.0 |
224.0 |
3.0 |
3.24 |
0.008 |
In MRE |
|
|
|
|
239.4 |
243.3 |
3.9 |
0.37 |
0.001 |
In MRE |
|
|
|
|
259.0 |
267.0 |
8.0 |
0.44 |
0.001 |
In MRE |
|
|
|
|
287.0 |
292.0 |
5.0 |
0.25 |
0.003 |
In MRE |
Porphyritic Andesite |
|
|
|
298.0 |
316.08 |
18.08 |
0.63 |
0.005 |
In MRE |
Polymictic volcanic breccia |
Note: Widths are reported as drilled and do not represent true widths, which are not yet known.
Figure 1. Plan view of the location of drill hole AN26001.
Sampling and QA/QC
Drill core was logged, split, and sampled at site by Company personnel. Samples were submitted to Bureau Veritas, a certified Laboratory in Santiago, Chile. Samples were analyzed using Fire Assay-Atomic Absorption for gold, with gravimetric assay for samples exceeding 5 g/t Au; Atomic Absorption for total copper and total silver; and 36-element ICP-OES using total digestion (4-acid digestion). The Company’s analytical protocol includes appropriate QA/QC procedures including insertion of certified standards, blanks, and duplicates.
Qualified Person
Scientific and technical disclosures in this news release have been reviewed and approved by Mr. Dorian L. (Dusty) Nicol (P. Geo., Chartered Geo., FAusIMM), the Company’s Senior Vice President Exploration, who is considered, by virtue of his education, experience and professional association, a “qualified person” as defined by National Instrument 43-101 and the AIM Rules for Companies.
The Mineral Resource referred to in this announcement is the Mineral Resource Estimate for Andacollo Gold reported in the Technical Report titled “Mineral Resource Estimate Update Andacollo Oro Gold Project, Coquimbo Region, Chile” dated May 4, 2026 with an effective date of February 1, 2026, prepared by DRA Americas Inc. in accordance with NI 43-101 and the CIM Definition Standards.
About Galantas Gold Corporation
Galantas Gold Corporation is a publicly traded gold and copper company focused on the acquisition, development, and advancement of gold and copper assets in stable mining jurisdictions. The Company is currently advancing the development of Andacollo Gold and exploration at Indiana, both projects located in Chile. Galantas’ strategy is to build long-term shareholder value through disciplined capital allocation, technically rigorous project evaluation, and responsible development of high-quality mineral assets.
Enquiries
Galantas Gold Corporation
Mario Stifano: Chief Executive Officer
Email: info@galantas.com
Website: www.galantas.com
Telephone: +1 416-848-7744
Grant Thornton UK Advisory & Tax LLP (AIM Nomad)
Philip Secrett, Harrison Clarke, Elliot Peters
Telephone: +44(0)20 7383 5100
SP Angel Corporate Finance LLP (AIM Broker)
David Hignell, Charlie Bouverat (Corporate Finance)
Grant Barker (Sales & Brokering)
Telephone: +44(0)20 3470 0470
Cautionary Statement Regarding Forward-Looking Information
This news release contains forward-looking information within the meaning of applicable Canadian securities laws and the United States Private Securities Litigation Reform Act of 1995.
Forward-looking information in this news release includes, but is not limited to, statements regarding the results and interpretation of drilling results at the Andacollo Gold project, including the confidence that Galantas will be able to identify more zones of higher-grade mineralization for inclusion in the mine plan that is currently being developed.
Forward-looking information is based on the reasonable assumptions, estimates, analysis and opinions of management made in light of its experience and its perception of trends, current conditions and expected developments, including, without limitation, assumptions regarding: the Company’s ability to satisfy its payment obligations under the applicable agreements; the availability of financing on reasonable terms; commodity prices; exchange rates; the receipt and maintenance of required regulatory approvals and permits; the accuracy of mineral resource estimates; and the Company’s ability to execute its development plans as contemplated.
Forward-looking information involves known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements of the Company to differ materially from those expressed or implied thereby, including, without limitation: the risk that the Company may not be able to complete the staged payment obligations, which could result in the loss of all or part of its interest in the Andacollo Gold project; risks relating to financing, development and operating activities; commodity price volatility; permitting and regulatory risks; uncertainties inherent in mineral resource estimates; the risk that exploration results, including results from newly identified structures, may not be repeated or may not lead to an increase in mineral resources; risks associated with extracting and processing mineralized material without a feasibility study or a production decision based on mineral reserves; and general economic, market and business conditions.
Readers are cautioned not to place undue reliance on forward-looking information. The Company undertakes no obligation to update or revise any forward-looking information except as required by applicable law.
Neither TSXV nor its Regulation Services Provider, as that term is defined in the policies of the TSXV, accepts responsibility for the adequacy or accuracy of this news release.
The information contained in this announcement is deemed to constitute inside information as stipulated under the retained EU law version of the Market Abuse Regulation (EU) No. 596/2014, which forms part of UK law by virtue of the European Union (Withdrawal) Act 2018. This information is disclosed in accordance with the Company’s obligations under Article 17 of UK MAR. Upon publication of this announcement, this inside information is now considered to be in the public domain.
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