Galantas Gold Corporation (AIM:GAL) filed an updated NI 43‑101 technical report for the Andacollo Oro Project and announced record and meeting dates to seek shareholder approval of its share purchase agreement to acquire Sol de Oro, which holds the brownfield Andacollo open‑pit heap‑leach gold asset.
The Andacollo Technical Report, effective 1 February and prepared by DRA Americas under NI 43‑101, updates an Indicated resource of 102.4 Mt at 0.45 g/t Au (1.47 Moz) and an Inferred resource of 347.9 Mt at 0.41 g/t Au (4.54 Moz), notes approximately 1.12 Moz of historical production and identifies additional mineralisation within the property potentially accessible via land access from Teck Resources.
"The updated Mineral Resource Estimate is an important milestone for Galantas and confirms Andacollo as a substantial brownfield gold project with scale, a long operating history, and meaningful exploration and development upside," said Mario Stifano, Chief Executive Officer.
DRA highlights existing site infrastructure, heap‑leach amenability with historical recoveries near 65-75%, an existing RCA environmental approval authorising restart activities, and recommends Phase‑1 work including infill and exploration drilling, metallurgical testing and preparation of a Preliminary Economic Assessment.
Galantas has set the record date as 12 May and will convene the shareholder meeting on 15 June to vote on the acquisition, has received conditional TSXV approval, and expects to complete the Transaction in June subject to minority shareholder, regulatory and TSXV final approvals.
