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Galantas Gold's First Andacollo Hole Returns 71.7 Metres at 0.76 g/t Gold, Nearly Double the Inferred Resource Grade

The opening hole of a 15,000-metre program at the past-producing Chilean heap-leach mine cut four gold zones, including 3 metres at 6.68 g/t, with low copper that bodes well for leaching.

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Galantas Gold's First Andacollo Hole Returns 71.7 Metres at 0.76 g/t Gold, Nearly Double the Inferred Resource Grade

Galantas Gold Corporation (TSXV: GAL; AIM: GAL) bought a mine that has already poured more than a million ounces. Now it is drilling to show how much is left. The first hole of its 15,000-metre program at Andacollo Gold in Chile, AN26001, returned 71.7 metres at 0.76 g/t gold from 50.0 metres downhole, about 1.85 times the 0.41 g/t average grade of the Inferred resource the hole was drilled into.

Drilled at an azimuth of 330 degrees and a dip of minus 50 degrees in the Tres Perlas pit area, the hole cut four separate gold intervals. The headline zone, 71.7 metres at 0.76 g/t from 50.0 to 121.7 metres, includes 10 metres at 3.15 g/t and 3 metres at 6.68 g/t. Deeper down, the hole returned 17.11 metres at 0.52 g/t from 145.54 metres, 18 metres at 0.91 g/t from 213 to 231 metres including 3 metres at 3.24 g/t, and 18.08 metres at 0.63 g/t from 298 metres. Widths are as drilled; true widths were not reported.

The geology may matter more than the grade. Galantas says the higher-grade zones appear tied to primary manto mineralization rather than later cross-cutting structures, which points to possible lateral continuity, the difference between a few rich pockets and mineable layers. Copper values in the gold intervals are low, which the company says bodes well for heap leaching, since copper is a notorious cyanide consumer. Soluble and cyanide-soluble copper assays are still pending. Two rigs are on site and samples were analyzed by Bureau Veritas in Santiago.

CEO Mario Stifano said the company is "very encouraged by the results from our first drill hole."

Andacollo sits in Chile's Coquimbo Region, about 55 kilometres southeast of La Serena, next to the town of Andacollo and bordering Teck Resources Limited's Carmen de Andacollo copper mine. The open-pit heap-leach operation produced 1.12 million ounces of gold between 1995 and 2017, and Galantas completed its acquisition of the project in June 2026. A resource estimate by DRA Americas Inc., effective February 1, 2026, outlines 102.4 million tonnes at 0.45 g/t gold for 1.47 million ounces Indicated and 347.9 million tonnes at 0.41 g/t for 4.54 million ounces Inferred, pit-constrained at a US$3,800/oz gold price and a 0.08 g/t marginal cut-off.

The plan is a restart, not a grassroots hunt. Mining Weekly reported in August that Galantas hired M3 Engineering & Technology to lead an updated PEA and relocate a crushing plant from Mexico to site, with a potential restart targeted for the first quarter of 2027. Stifano described Andacollo to the publication as a "permitted brownfield restart project with low capital intensity," and Mining Weekly noted that existing pits, heap-leach pads, ponds and an ADR plant, plus the relocated crusher, should cut restart capital, shorten the schedule and lower execution risk.

The market, so far, is keeping its powder dry. By late morning on November 9, Galantas shares were down C$0.01, or 2.6%, at C$0.38 on the TSXV after opening at C$0.40 and touching a high of C$0.405, with about 1.08 million shares, roughly C$399,000 worth, changing hands across Canadian venues. That suggests investors want more than a single hole, and the pending cyanide-soluble copper results, before re-rating a 0.41 g/t resource.

The caveats are real. This is a single hole drilled inside an existing Inferred resource, so it reads as confirmation and possible grade upside rather than discovery, and true widths are unknown. Andacollo is a bulk, low-grade deposit, averaging 0.41 to 0.45 g/t across its categories, where recoveries (historically 65% to 75% on heap leach, according to the company) and gold price do the heavy lifting. Inferred resources have no demonstrated economic viability, the cyanide-soluble copper results are still to come, and the updated PEA has not yet been published.

Sources:

  • "Galantas Gold Intersects 71 Meters at 0.76 g/t Gold in Its First Drill Hole at Andacollo Gold," Galantas Gold news release (Newsfile) via Yahoo Finance, November 9, 2026. finance.yahoo.com
  • "Andacollo Gold," Galantas Gold Corporation project page, accessed November 9, 2026. galantas.com
  • "Galantas commissions M3 to update PEA on Andacollo as restart works progress," Mining Weekly, August 12, 2026. miningweekly.com
  • Galantas Gold (V:GAL) consolidated Canadian quote, Stockwatch, November 9, 2026, 11:38 AM ET (15-minute delayed). stockwatch.com

Disclaimer:

Neither the author of this article nor JuniorStocks holds equity, stock options, or any other financial positions in Galantas Gold Corporation (TSXV: GAL; AIM: GAL) or any other companies mentioned in this publication. This content is published by JuniorStocks strictly for informational purposes, was prepared independently without company compensation, and utilized AI assistance for text editing, formatting, and generating accompanying media. While a past-producing Chilean heap-leach mine drilling toward a 2027 restart represents a compelling development story, this article does not constitute investment or financial advice. Investors are strongly advised to conduct their own thorough, independent due diligence and consult with a qualified financial professional before making any investment decisions.

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