Galantas Gold Intersects 1.18 g/t Gold over 18 Meters at Indiana in Newly Discovered Skarn

Galantas reports broad gold intercepts at Indiana, highlighting new skarn-style mineralization.

What the company is saying

Galantas Gold Corporation is emphasizing a breakthrough at its Indiana gold-copper project in Chile, specifically highlighting the first broad, skarn-style gold mineralization not tied to narrow structures. The company details that 7,229 meters of a planned 12,500 meter drill program are complete, with 19 holes finished and two ongoing. CEO Mario Stifano frames the 18 meter interval at 1.18 g/t gold, including 4 meters at 2.36 g/t, as a significant intercept and a positive exploration success. The narrative stresses the project's location in a 'world-class IOCG belt' and positions the new skarn zone as a potential open pit target, pending further work. The announcement is confident in tone, citing rigorous QA/QC protocols and third-party laboratory analysis. Technical oversight is attributed to Senior Vice President Exploration Dorian L. (Dusty) Nicol, who is named as the qualified person under NI 43-101 and AIM rules.

What the data suggests

The disclosed data show that Galantas has completed 7,229 meters of drilling out of a planned 12,500 meters at Indiana, with 19 drill holes finished and two in progress. Drill hole IN26014 intersected a 213 meter calcsilicate alteration zone, with three gold-bearing intervals: 1 meter at 2.21 g/t, 1.15 meters at 1.61 g/t, and a notable 18 meters at 1.18 g/t, including a higher-grade 4 meter section at 2.36 g/t. These widths are reported as drilled, not true width, and true widths are not yet known. The mineralization is associated with fine-grained pyrite within magnetite, and the hole ended at 495 meters in weakly altered intrusive. Assays for seven holes have been released, with more pending. Sampling and analysis followed industry-standard protocols, with Bureau Veritas in Santiago handling assays and QA/QC procedures in place. No resource estimate, economic assessment, or financial figures are disclosed, but the technical results indicate the presence of potentially scalable gold mineralization in a new geological setting for the project.

Analysis

The announcement provides detailed and specific technical results from ongoing exploration at the Indiana gold-copper project in Chile, including precise drill intervals, grades, and QA/QC procedures. The tone is positive, highlighting the first broad skarn-style gold mineralization at the project, but the language remains proportionate to the evidence presented. Only one forward-looking claim is made, regarding future work to understand the geometry and potential of the new zone, and this is framed as a next step rather than a promotional projection. There is no exaggerated language about imminent production, resource size, or economic value. No large capital outlay or financial projections are disclosed, and the program is still in the exploration phase, so the absence of financial metrics is normal and not a deficiency. The gap between narrative and evidence is minimal, with the company's statements well-supported by the disclosed drill data.

Risk flags

• ●Resource and economic uncertainty remains high, as no mineral resource estimate or economic study has been completed for the Indiana project. The current results, while promising, do not guarantee continuity or economic viability.
• ●True widths of mineralized intervals are not yet known, which introduces uncertainty about the actual size and grade of the mineralized zones. Without true width data, the economic significance of the intercepts cannot be fully assessed.
• ●Exploration-stage projects in Chile face permitting, technical, and potential community risks as they advance toward development. The announcement does not address permitting status, land access, or social license, which could affect future progress.

Bottom line

Galantas Gold Corporation's latest drill results from Indiana in Chile confirm broad, skarn-style gold mineralization, with a standout 18 meter interval at 1.18 g/t gold and a higher-grade core of 4 meters at 2.36 g/t. The company has completed over half of its planned 12,500 meter drill program, but the project remains at an early exploration stage with no resource estimate or economic analysis yet available. The technical data are robust and suggest a potentially significant new mineralized zone, but the true economic impact will depend on further drilling, modeling, and eventual resource definition. Investors should watch for upcoming assay results, true width calculations, and any move toward a formal resource estimate. The key takeaway is that while the geological results are encouraging, the path to value realization is still in its early stages and subject to significant technical and permitting risks.

Announcement summary

(TSXV:GAL) (AIM:GAL) Galantas Gold Corporation announced positive results from an exploration drill hole at its Indiana gold-copper project near Copiapó, Chile. The company has drilled 7,229 meters of a planned 12,500 meter program, which includes 19 completed drill holes and two currently in progress. The objective of the drill program to date has been to confirm mineralization at Bondadosa and Flor de Espino, test for extensions of these veins, and identify new structures. Assay results have been released for seven holes, with six previously reported on October 14, 2026, and assays for the remaining holes pending. Drill hole IN26014 intersected intense calcsilicate alteration, visually similar to skarn mineralization, extending for 213 meters from 217 to 430 meters, comprising garnet, epidote, magnetite, and actinolite. Within this skarn zone, three intervals of gold mineralization were intersected, including a significant intersection of 18 meters (from 269 to 287 meters) at 1.18 grams per tonne gold (g/t Au), which includes an interval of 4 meters at 2.36 g/t Au. Additional intersections include 1 meter (from 218.0 to 219.0 meters) at 2.21 g/t Au, and 1.15 meters (from 243.5 to 244.65 meters) at 1.61 g/t Au. The gold mineralization is associated with fine-grained pyrite within the magnetite. The drill hole was stopped in weakly altered intrusive at a depth of 495 meters. Mario Stifano, Chief Executive Officer, stated that this is the first documented gold mineralization at Indiana not associated with narrow structures and that the new target is a positive exploration success for the Indiana project, located in a world-class IOCG belt between Candelaria and Manto Verde. The team will now focus on understanding the geometry of the 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 core was logged, split, and sampled at site by company personnel, and 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. Scientific and technical disclosures in this news release have been reviewed and approved by Mr. Dorian L. (Dusty) Nicol (P. Geo., Chartered Geo., FAusIMM), Senior Vice President Exploration.

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