By: Creamer media

AngloGold Argentina Exploraciones, a subsidiary of AngloGold Ashanti, provided Latin Metals with 90 days’ notice of termination, effective January 27, 2026. As a result, Latin American said that the Phase 1 drilling programme – announced in late September – would not proceed.

Latin Metals explained that AngloGold’s decision followed a change in its global greenfield exploration strategy.

Despite the withdrawal, Latin Metals president and CEO Keith Henderson said Organullo remained a 100%-owned, fully permitted gold exploration project with multiple untested targets prospective for both high-sulphidation gold and porphyry copper/gold mineralisation.

“Gold prices in 2025 have exceeded $4 000/oz, a substantial increase from $1 800/oz in 2022 when the option agreement was signed. This significant change in market conditions strengthens our confidence in attracting a new partner to advance this high-potential project,” said Henderson.

AngloGold had invested about $3.3-million in exploration and permitting at Organullo, defining several high-priority drill targets across a 6-km strike length. The company also expanded the property package through the acquisition of additional mineral rights.