AngloGold Ashanti to begin drilling at Latin Metals’ Organullo project

VANCOUVER - AngloGold Ashanti plans to commence drilling at the Organullo Gold Project in Salta Province, Argentina, according to a press release from Latin Metals Inc. (TSXV:LMS) (OTCQB:LMSQF). The mining giant, currently valued at $35.4 billion, has demonstrated robust financial health with a "GREAT" rating according to InvestingPro analysis, supported by a strong current ratio of 2.99 and impressive revenue growth of 54.6% in the last twelve months.

The Phase I program will consist of 10 drill holes totaling approximately 6,000 meters, with first results expected in the first quarter of 2026. AngloGold Argentina Exploraciones S.A., a wholly owned subsidiary of AngloGold Ashanti plc (NYSE:AU), is exercising its option to earn up to an 80% interest in Latin Metals’ Organullo, Ana Maria, and Trigal Gold projects. The company’s expansion efforts come amid strong market performance, with the stock delivering a remarkable 207.7% return year-to-date. InvestingPro subscribers have access to 14 additional key insights about AngloGold’s financial outlook and market position.

The drilling will target three previously unexplored advanced argillic alteration zones along a 6-kilometer strike length. The program represents the first significant drilling at the property, which Latin Metals describes as a high priority greenfields exploration project for AngloGold Ashanti.

Latin Metals also announced it has secured rights to the Malena VII mining property, which is contiguous with the recently acquired Malena VI property and the existing Organullo gold project. The new acquisition will form part of the properties included in the existing option agreement with AngloGold Ashanti.

AngloGold Ashanti is reportedly targeting a large-scale gold discovery, using district-scale geophysical anomalies, structural interpretation, surface geochemical data and hyperspectral data to guide exploration efforts.

Latin Metals operates under a prospect generator model in Peru and Argentina, securing option agreements with major mining companies to fund exploration across its portfolio of 18 projects.

In other recent news, U.S. officials have confirmed that certain gold bars will be subject to reciprocal tariffs implemented by President Donald Trump. This development has resulted in a rise in gold mining stocks during premarket trading. Wheaton Precious Metals saw a 2% increase, leading the sector, while Barrick Mining’s shares rose by 1.5%. OR Royalties experienced a 1.1% uptick, and Newmont’s shares climbed by 1%. Additionally, Agnico Eagle Mines and Kinross both saw their stocks increase by 0.7%. The VanEck Gold Miners ETF also advanced, gaining 1.25%. These recent developments highlight the impact of trade policies on the precious metals sector.

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