Latin Metals announced this week its intention to position the project located in the province of Salta during 2026, with the aim of finding a new partner and advancing with Phase 1 drilling. The announcement was issued just days before the expiration of the contract with AngloGold Ashanti, on January 27.
By Panorama Minero
With full control of the project located in the Salta locality of San Antonio de los Cobres, Latin Metals stated that during this year it will seek a new partnership in a context of favorable gold prices. After completing environmental and operational permits, the project is in a position to initiate drilling campaigns, according to information updated as of June 9, 2025.
“The Organullo gold project is a high-potential exploration project that has all permits in place and is ready for drilling. The work carried out over the past two years has positioned the project with multiple untested drilling targets, prospective for both high-sulfidation gold and copper-gold porphyry-style mineralization. Likewise, the acquisition of properties has contributed to consolidating the project and protecting key target areas,” confirmed Latin Metals.
The Canadian-based company reported that “the previous partner was targeting a Tier 1 discovery of several million ounces at Organullo and defined multiple priority drilling targets, including three advanced zones of previously unexplored argillic alteration extending along a 6 km vein.”
In addition, they added that “district-scale geophysical anomalies, structural interpretations, surface geochemical results, and hyperspectral data jointly support the project’s strong potential for a significant gold discovery, according to reports dated October 30, 2025,” the company stated.
At the same time, the consolidation and acquisition of mining properties strengthened control of the district and safeguarded areas considered critical for the project’s future development. In July 2025, Latin Metals acquired the Malena VI mining property, adjacent to the Organullo project, adding 1,032 hectares and consolidating one of the country’s largest unexplored geochemical anomalies.
AngloGold Ashanti’s exit from Organullo occurred in the context of changes to its global strategy. The company had announced in October its decision to withdraw from the agreement that included the option to acquire an 80% interest in the Organullo project, which was about to enter Phase 1 of exploration. The news shook the mining community, which views the project as having great potential for the development of the industry in Salta.
Looking ahead to 2026, Latin Metals is working on repositioning Organullo to secure a new strategic partnership that will allow it to capitalize on the technical legacy left by AngloGold Ashanti and move forward with drilling the main defined targets. The objective is to make the leap from a stage of high conceptual potential toward resource validation.
