Indiana Project Drilling Update
Summary by AI BETAClose X
GALANTAS GOLD INTERSECTS 1.18 G/T GOLD OVER 18 METERS AT INDIANA IN NEWLY DISCOVERED SKARN
Toronto, Ontario – November 12, 2026 – Galantas Gold Corporation (TSX-V: GAL | AIM: GAL) (“Galantas” or the “Company”) announces positive results from an exploration drill hole at its Indiana gold-copper project near Copiapó, Chile. The Company has now drilled 7,229 meters (m) of a planned 12,500 m program, comprising 19 completed drill holes and two in progress. The objective of this drill program to date was to confirm mineralization at Bondadosa and Flor de Espino and to test for extensions of these veins as well as to test for new structures. The Company has now released assay results for seven holes, six of which were reported on October 14, 2026. Assays for the remaining holes are pending.
Drill hole IN26014 intersected intense calcsilicate alteration, visually similar to skarn mineralization (refer to August 10, 2026 news release). This alteration extends for 213 m (from 217 to 430 m), comprising garnet, epidote, magnetite, and actinolite. Within this skarn zone, the drill hole intersected three intervals of gold mineralization (refer to table below), including a significant intersection of 18 m (from 269 to 287 m) at 1.18 grams per tonne gold (g/t Au), including an interval of 4 m at 2.36 g/t Au. The gold mineralization is associated with fine-grained pyrite that occurs within the magnetite. The drill hole was stopped in weakly altered intrusive at a depth of 495 m.
Mario Stifano, the Company’s CEO, commented: “This is a very significant drill intercept, as it is the first documented gold mineralization at Indiana not associated with narrow structures. The addition of this new target is a positive exploration success to the Indiana project, located in a world-class IOCG (iron-oxide copper-gold) belt between Candelaria and Manto Verde. The team will now focus on understanding the geometry of this new skarn zone, drill testing its extension potential for higher grade areas, and assessing whether it may come close enough to surface to constitute a potential open pit target.”
Drill Hole IN26014
The location of drill hole IN26014 is shown in Figure 1 and assay results are shown in the table below.
|
Drill Hole ID |
Azimuth/ Dip (degrees) |
From (m) |
To (m) |
Interval (m) |
Au (g/t) |
In / Out of MRE |
|
IN26014 |
340 / -75 |
218.0 |
219.0 |
1.0 |
2.21 |
Out of MRE |
|
|
|
243.5 |
244.65 |
1.15 |
1.61 |
Out of MRE |
|
|
|
269.0 |
287.0 |
18.0 |
1.18 |
Out of MRE |
|
|
|
Incl. 272.0 |
276.0 |
4.0 |
2.36 |
Out of MRE |
Note: Widths are reported as drilled and do not represent true widths, which are not yet known.
Figure 1. Location of Drill Hole IN26014
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.
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 and forward-looking statements within the meaning of applicable Canadian securities laws (collectively, “forward-looking information”). Forward-looking information is generally identifiable by the use of words such as “anticipate”, “believe”, “expect”, “intend”, “may”, “plan”, “will”, “would”, “could”, “should”, “estimate”, “forecast”, “potential”, “continue” and similar expressions, although not all forward-looking information contains these identifying words. Forward-looking information in this news release includes, but is not limited to, statements regarding the planned 12,500 m drilling program at Indiana, and assessing whether the new skarn zone may come close enough to surface to constitute a potential open pit target.
Forward-looking information is based on the Company’s current expectations, estimates, projections, assumptions and beliefs, including assumptions regarding the Company’s ability to satisfy its payment obligations under the applicable agreements; the availability of financing on reasonable terms; the availability of personnel, equipment and supplies on acceptable terms and within the anticipated timelines; commodity prices; exchange rates; the receipt and maintenance of required regulatory approvals and permits; the accuracy of mineral resource estimates; the technical and economic viability of the Andacollo Gold project; the ability to complete development, construction, commissioning and ramp-up activities on schedule and within budget; 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 to differ materially from those expressed or implied by such information. These risks and uncertainties include, among others, 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; operational, environmental, social, political and community-relations risks in Chile; and general economic, market and business conditions.
Readers are cautioned not to place undue reliance on forward-looking information. The forward-looking information contained in this news release is made as of the date of this news release and, except as required by applicable securities laws, the Company undertakes no obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise.
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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