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Galantas Gold Announces Definitive Agreement to Acquire the Andacollo Oro Gold Project, Chile
The acquisition includes a past-producing gold mine with infrastructure and permits; staged payments total US$32 million, with 19.9% equity issued to the controlling shareholder.
- In a share purchase agreement announced Jan. 6, 2026, Galantas agreed to acquire the Project for US$32.0 million, with initial payments of US$4.5 million.
- Because extensive historical data shows The Project is a past-producing, large-scale open-pit heap leach operation with existing leach pads, mine infrastructure, permits, mining concessions, water rights, and historical technical studies.
- Resource estimates and past production show measured and indicated resources of 2.02 million ounces and inferred resources of 5.06M oz, based on the 2021 Historical Report, with 1,600 drill holes totaling about 190,000 metres database.
- Galantas' board of directors approved the Agreement, which is a related-party transaction under MI 61, and is subject to TSXV and minority approvals before closing.
- A Preliminary Economic Assessment is underway and the company plans a drill program in the first quarter of 2026, with a 200,000 oz per annum ADS-Desorption-Recovery plant capacity and exploration upside including porphyry-style copper and a chalcocite blanket.
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Galantas Gold set to acquire Chilean project in US$32 million deal – Resource World Magazine
Galantas Gold Corp. [GAL-TSXV, AIM, GALKF-OTCQX] has announced details of a share purchase agreement to acquire a 100% interest in the Andacollo Oro Gold Project in Central Chile. The project is a past-producing, large-scale open pit heap leach gold operation with existing infrastructure, permits and extensive historical technical data. “The acquisition of the Andacollo Oro Project fundamentally repositions the company, adding a large-scale, past
Galantas signs agreement to acquire Chile’s Andacollo gold project
Galantas Gold has signed an agreement for the acquisition of 100% ownership interest in the Andacollo Oro Gold project in Chile.The post Galantas signs agreement to acquire Chile’s Andacollo gold project appeared first on Mining Technology.
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