Galantas indicators settlement to amass Chile’s Andacollo gold mission

Galantas Gold has signed an settlement to amass a 100% possession curiosity within the Andacollo Oro gold mission in Chile.

Positioned within the Coquimbo Area, the mission is an open-pit heap leach gold mine with current infrastructure and permits.

It’s located round 55km from La Serena and contains substantial land rights and infrastructure.

Historic mineral useful resource estimates for the mission point out measured and indicated assets totalling 2.02 million ounces (moz) of gold, consisting of 130 million tonnes (mt) grading 0.48 grams per tonne (g/t) gold.

Inferred mineral assets are estimated at 5.06moz of gold, comprising 358mt grading 0.45g/t gold.

Galantas Gold CEO Mario Stifano mentioned: “The acquisition of the Andacollo Oro gold mission basically repositions the corporate, including a large-scale, past-producing gold asset with current infrastructure, permits and a deep technical database in one in every of Chile’s most established mining districts.

“With an Adsorption–Desorption–Restoration plant at 200,000oz every year nameplate capability, the mission gives Galantas with a number of improvement pathways and a stage of optionality that’s hardly ever obtainable in a single transaction, whereas the staged consideration construction displays our dedication to capital self-discipline and threat administration.”

The transaction includes Galantas buying Sol de Oro Mining, which owns Compañía Minera OXI, and subsequently Compañía Minera e Inmobiliaria Dragones, the mission proprietor.

The money consideration totals $32m (C$44.17m) over 4 years, conditional upon regulatory approvals.

Galantas government officer Robert Sedgemore owns Sol and is taken into account a associated celebration below related rules.

The mission is adjoining to Teck Sources’ copper-producing Carmen del Andacollo Mine.

Compliance with regulatory necessities and shareholder approvals are pending for transaction completion.

In June 2025, Galantas signed a three way partnership settlement with Ocean Companions UK to restart operations on the Omagh gold mission in Northern Eire.

“Galantas indicators settlement to amass Chile’s Andacollo gold mission” was initially created and revealed by Mining Know-how, a GlobalData owned model.

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