Collective Mining Executive Chairman Ari Sussman: Confident That We Have a Porphyry Complex in Colombia
Collective Mining Executive Chairman Ari Sussman said, “We believe that happens to be a peripheral vein system to a porphyry complex.”
Collective Mining Executive Chairman Ari Sussman: Confident We Have A Porphyry Complex in Colombiayoutu.be
Collective Mining (TSXV:CNL) Executive Chairman Ari Sussman discussed vast mining opportunities in Colombia, saying there was a slowdown in the 1980s and 1990s that left major deposits behind.
“Colombia missed that wave of influx of capital from 2001 to 2002 onwards.” However, he said, “The country changed for the better with a strong government.”
Proof of this is Sussman’s previous experiences handling permitting projects. He explained that the government adhered to what it said it would do in the permitting schedule, stating, “It took us less than one year to permit a mine. It's an excellent jurisdiction for permitting mines, but very professional and very detailed at the same time.”
Sussman also detailed recent findings on the company’s Guayabales project. “We now are confident that we have the porphyry complex ... our expertise is in porphyry systems and deposits related to porphyry systems. We identified this area, and it's an area that has a mine already in production that's been producing for 500 consecutive years or more. Believe it or not, it is literally what might be one of the oldest mines in the world. We staked the ground and acquired the ground literally next door to them. That is our Guayabales project.
"Why did we do this? Because we have this expertise in identifying porphyry and porphyry-related targets. And that deposit that's been in production for all these years is a porphyry-related vein system. The way these things work is in a 5 kilometer radius. Typically, from a center point, you will find porphyries, you'll find porphyry-related branches and vein systems. We believe that it happens to be a peripheral vein system to a porphyry complex. We now are confident that we have the porphyry complex."
The Guayabales project isn't the company's only area of focus. "Our second project is named San Antonio," Sussman said. "It's only 1 kilometer from edge to edge from Guayabales titles, but it does take more than two hours to drive one project to the other due to mountainous topography, roads, etc. But it's part of the same porphyry complex. And that's the key. So we're hunting on the second project for porphyry-style deposits as well.”
Sussman mentioned the company’s plans to move forward with the targets it has identified thus far. “We’ve identified 11 targets and drilled six of those targets to date. We’ve made significant discoveries with assay results on three of them, with a visual discovery on the fourth hole ... Olympus and Apollo are the two best drill holes from near the surface. At 300 meters in length, it’s about 1.1 grams per metric ton of gold equivalent. This area covers about a half square kilometer and it’s open in most directions.”
Regarding next steps, Sussman said, “We're going to back this up with drilling, with a 20,000 to 25,000 meter drill program for the year — so we're obviously being very aggressive. We have four rigs turning on the property for the rest of the year. I'm confident that we will create a lot of shareholder value with the drill program and that is what's going to drive our value in the near term.”
Watch the full interview of Collective Mining Executive Chairman Ari Sussman above.
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