Galantas Gold Intersects 71 Meters at 0.76 g/t Gold in Its First Drill Hole at Andacollo Gold

Galantas reports strong gold intercepts in first Andacollo drill hole, supporting resource confidence.

What the company is saying

Galantas Gold Corporation highlights positive assay results from its first drill hole (AN26001) at the Andacollo Gold project in Chile, emphasizing the 71-meter interval at 0.76 g/t Au, which includes higher-grade sub-intervals such as 10 meters at 3.15 g/t Au and 3 meters at 6.68 g/t Au. The company frames these results as adding confidence to the existing Mineral Resource, specifically in the Tres Perlas pit area, and points to the manto-hosted mineralization as indicative of potential lateral continuity and tonnage upside. CEO Mario Stifano asserts that the higher-than-average grades and multiple mineralized zones support the ongoing mine plan development and future identification of additional high-grade zones. The announcement stresses low copper values in the gold intervals, which is presented as favorable for heap-leaching. Galantas also notes that the 15,000-meter drill program is ongoing with two rigs, and that further assays, including soluble copper and cyanide-soluble copper, are pending. Technical disclosures are validated by Senior Vice President Exploration Dorian L. (Dusty) Nicol, and all assays were processed at Bureau Veritas in Santiago under a detailed QA/QC protocol.

What the data suggests

The disclosed drill results from hole AN26001 at Andacollo provide concrete evidence of significant gold mineralization, with a standout intercept of 71.7 meters at 0.76 g/t Au from 50 to 121.7 meters, including higher-grade sections such as 10 meters at 3.15 g/t Au and 3 meters at 6.68 g/t Au. Additional intervals include 17.11 meters at 0.52 g/t Au, 18 meters at 0.91 g/t Au (with 3 meters at 3.24 g/t Au), and 18.08 meters at 0.63 g/t Au, all within the Inferred Resource area of the Tres Perlas pit. Copper grades across these intervals are low, ranging from 0.001% to 0.067%, supporting the company's claim that heap-leaching is viable. The results are reported as drilled widths, with true widths not yet determined. The technical data is robust, with clear hole IDs, intervals, grades, and QA/QC procedures, but the company does not provide comparative resource grades or updated resource estimates to quantify the claimed increase in confidence. The announcement is strictly technical, with no financial metrics or economic analysis disclosed. The program remains at an early exploration and infill stage, with further results and assays pending.

Analysis

The announcement provides detailed and credible technical results from the first drill hole of a 15,000-meter program, including specific gold and copper assay intervals and QA/QC procedures. These realised facts support the claim of technical progress at the Andacollo Gold project. However, much of the narrative is forward-looking, emphasizing increased confidence in the Mineral Resource, the potential for more high-grade zones, and the ongoing nature of the drill program. The language around 'adding confidence' and 'identifying more zones for inclusion in the mine plan' is not directly substantiated by comparative resource data or updated estimates. The program is capital intensive, with a large drill campaign underway, but any benefits (such as resource upgrades or mine development) are long-term and contingent on future results. The tone is optimistic and somewhat promotional, but the technical data disclosed is specific and appropriate for an exploration-stage update. The gap between narrative and evidence lies in the extrapolation from a single drill hole to broader resource confidence and mine planning.

Risk flags

• ●Resource confidence is currently based on a single drill hole, which limits statistical reliability and leaves the broader mineralization model untested; additional holes are required to confirm continuity and grade distribution.
• ●The economic viability of the project remains unproven, as no resource update, preliminary economic assessment, or cost data is provided; investors have no visibility on potential project margins or capital requirements.
• ●Execution risk is elevated due to the early stage of the drill program, with 15,000 meters planned and only initial results available; delays, negative assays, or technical setbacks could materially change the outlook.
• ●Assay results for soluble copper and cyanide-soluble copper are still pending, introducing uncertainty regarding metallurgical performance and ultimate gold recoveries.

Bottom line

Galantas Gold Corporation's first drill results from the Andacollo Gold project demonstrate meaningful gold mineralization, with a 71.7-meter intercept at 0.76 g/t Au and multiple higher-grade zones. These results support the company's narrative of increasing resource confidence in the Tres Perlas pit area, but the evidence is limited to a single hole and does not include updated resource estimates or economic analysis. The low copper values are positive for heap-leaching, but crucial metallurgical assays are still pending. The 15,000-meter drill program is in its early stages, so any value realization is months or years away and highly dependent on future results. Investors should view this as an encouraging technical milestone but not a de-risking event; the most important takeaway is that while the first hole is promising, the project's ultimate scale and economics remain unproven until further drilling and studies are completed.

Announcement summary

(TSXV:GAL) (AIM:GAL) Galantas Gold Corporation announced positive results from its first drill hole (AN26001) at the Andacollo Gold project in Chile. The company is conducting an ongoing 15,000-meter drill program with two rigs, aiming to increase confidence in the Mineral Resource, provide infill drilling for the mine plan under development, and test new exploration targets. Drill hole AN26001 was completed in the Tres Perlas pit area, targeting manto-hosted gold mineralization within the Inferred Resource. Significant gold intersections from AN26001 include 71 meters at 0.76 g/t Au from 50 m to 121.7 m, including 10 m at 3.15 g/t Au, which itself includes 3 m at 6.68 g/t Au; 17.11 m at 0.52 g/t Au from 145.54 m to 162.65 m; 18 m at 0.91 g/t Au from 213 m to 231 m, including 3 m at 3.24 g/t Au; and 18.08 m at 0.63 g/t Au from 298 m to 316.08 m. Additional intervals include 3.9 m at 0.37 g/t Au from 239.4 m to 243.3 m, 8 m at 0.44 g/t Au from 259 m to 267 m, and 5 m at 0.25 g/t Au from 287 m to 292 m. Copper values in the gold-mineralized intervals are low, with copper grades ranging from 0.001% to 0.067%. The drill hole did not target the chalcocite blanket postulated to extend from Teck's adjacent Carmen de Andacollo porphyry copper deposit. Gold and total copper assays have been received, while soluble copper and cyanide-soluble copper assays are pending. The company states that these results add confidence to the Mineral Resource in the Tres Perlas pit area. Mario Stifano, Chief Executive Officer, commented that the 71-meter intercept at well above average resource grade adds further confidence to the current Mineral Resource and that multiple zones of higher-grade mineralization in manto mineralization, as opposed to cross-cutting structures, give confidence in identifying more zones for inclusion in the mine plan under development. The ongoing program will also test for copper mineralization on the Andacollo Gold project. Drill core was logged, split, and sampled at site by company personnel and analyzed at Bureau Veritas in Santiago, Chile, using Fire Assay-Atomic Absorption for gold, gravimetric assay for samples exceeding 5 g/t Au, Atomic Absorption for total copper and silver, and 36-element ICP-OES with total digestion. QA/QC procedures included insertion of certified standards, blanks, and duplicates. Scientific and technical disclosures were reviewed and approved by Mr. Dorian L. (Dusty) Nicol, Senior Vice President Exploration. The Mineral Resource Estimate for Andacollo Gold was reported in a 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 CIM Definition Standards.

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