Collective Mining Intercepts a Broad Zone of Mineralization in its Second Diamond Drill Hole at the Apollo Target with a Second Rig Being Mobilized

Collective Mining Intercepts a Broad Zone of Mineralization in its Second Diamond Drill Hole at the Apollo Target with a Second Rig Being Mobilized

Collective Mining Ltd. (TSXV: CNL) ("Collective" or the "Company") is pleased to announce that the second drill hole to test the Apollo target ("Apollo") is advancing as part of the Company's fully funded minimum 20,000 metre drill program for 2022 at the Guayabales project ("Guayabales"), located in Caldas, Colombia. The Company presently has three diamond drill rigs at Guayabales with drills currently operating at Apollo and the Olympus area where the Company is focused on expanding upon the recently announced Olympus Central discovery hole of 302 metres @ 1.11 gt gold equivalent (refer to press release dated March 15, 2022) to the south and west. Apollo is located approximately 600 metres to the southeast of Olympus Central.

Surface mapping and soil and rock chip sampling at Apollo have outlined a porphyry target in the south with a porphyry-related hydrothermal breccia target flanking its northern side. Both the porphyry and breccia targets are characterized by coincidental high-grade copper and molybdenum soil anomalies measuring greater than 500 parts per million ("ppm") and 30 ppm, respectively . Apollo covers an area measuring 750 metres X 580 metres and remains open to the east, west and south for further expansion.

Highlights (See Figures 1 – 3)

  • A maiden diamond drill program at Apollo began in April 2022 with the initial hole ("APC-1") now complete to a final length of 438.7 metres. Beginning at 280 metres down hole, APC-1 intercepted favorable porphyry related hydrothermal breccia mineralization over a core length totalling between 85-90 metres . Core from this hole has been sent to the lab and assay results are expected shortly.
  • Given the significant distance from the drill pad and to expedite drilling at Apollo, the Company is currently drilling at wedge hole ("APC-1W"), which was kicked-off from APC-1 at 213 metres down-hole. Drilled at a slightly steeper angle and to the east, APC-1W is currently at 85 metres and is still drilling within favorable visual breccia mineralization . Drilling of the hole will continue until the hole exits from the breccia mineralization.
  • The breccia matrix consists of approximately 4-5% pyrite and 1-1.5% chalcopyrite with overprinting carbonate base metal ("CBM") veins in places (see press release dated April 12, 2022, for further details).
  • Considering the encouraging visual mineralization over broad widths intersected in both drill holes, the Company has initiated construction of two additional drill pads at Apollo ("Pad 2" and "Pad 3"), which will provide the Company with significantly better locations to test the full extent of the potential at Apollo. The rig that is currently drilling APC-1W will be moved to Pad 2 shortly and a second diamond drill rig will mobilize to Pad 3 shortly thereafter.
  • Importantly,   the mineralized breccia intercepts in APC-1 and APC-1W does not correspond with the coincidental high-grade copper and molybdenum soil anomalies covering both breccia and porphyry targets at Apollo . As a result, drill holes from Pad 2 and Pad 3 will also be designed to test both anomalies .
  • The reader should be cautioned that only assay results from a certified third-party laboratory can confirm whether any amounts of precious or base metals are present in the breccia matrix currently being intersected in the drill hole. As such, visual core inspection presented herein should be viewed as speculative in nature.

"The Guayabales project continues to demonstrate that it has been blessed with a remarkable mineral endowment. We are early in the first inning of unlocking the potential of this asset and already we have drilled three potentially significant discoveries characterized by broad zones of mineralization. Assay results are expected from both Olympus and Apollo in the near term and our fully funded drill program will continue unabated through the balance of 2022," commented Ari Sussman, Executive Chairman.

Figure 1: Plan View of the Guayabales Project Highlighting the Apollo Target
https://www.globenewswire.com/NewsRoom/AttachmentNg/db9255de-d5eb-4697-8016-33a1642a93ed

Figure 2: Plan View of the Apollo Target Area Outlining Porphyry and Breccia Targets Overprinted by High-Grade Coincidental Copper and Molybdenum Soil Anomalies
https://www.globenewswire.com/NewsRoom/AttachmentNg/3a55c14e-34b7-40f8-b0ee-6465bdf181da

Figure 3: Core Photos from Drill Hole APC-1W
https://www.globenewswire.com/NewsRoom/AttachmentNg/05a0640c-87b0-4d03-a3ab-c7f34cfc40a8

Mineralized hydrothermal breccia with localized overprinting porphyry veins (CBM). The matrix of mineralization consists of chalcopyrite, pyrite, sphalerite and galena.

About Collective Mining Ltd.

To view our latest corporate presentation, please visit www.collectivemining.com

Collective Mining is an exploration and development company focused on identifying and exploring prospective mineral projects in South America. Founded by the team that developed and sold Continental Gold Inc. to Zijin Mining for approximately $2 billion in enterprise value, the mission of the Company is to repeat its past success in Colombia by making a significant new mineral discovery and advancing the projection to production. Management, insiders and close family and friends own approximately 40% of the outstanding shares of the Company and as a result are fully aligned with shareholders. Collective currently holds an option to earn up to a 100% interest in two projects located in Colombia. As a result of an aggressive exploration program on both the Guayabales and San Antonio projects a total of twelve major targets have been defined. The Company is fortuitous to have made significant grass root discoveries on both projects with near surface discovery holes at the Guayabales project yielding 302 metres 1.11 g/t AuEq at the Olympus target and 163 metres @ 1.3 g/t AuEq at the Donut target. At the San Antonio project, the Company intersected from surface 710 metres @ 0.53 AuEq. ( See press releases dated October 27 th , 2021, November 15, 2021 and March 15, 2022 for AuEq calculations.)

Qualified Person (QP) and NI43-101 Disclosure

David J Reading is the designated Qualified Person for this news release within the meaning of National Instrument 43-101 ("NI 43-101") and has reviewed and verified that the technical information contained herein is accurate and approves of the written disclosure of same. Mr. Reading has an MSc in Economic Geology and is a Fellow of the Institute of Materials, Minerals and Mining and of the Society of Economic Geology (SEG).

Technical Information

Rock and core samples have been prepared and analyzed at SGS laboratory facilities in Medellin, Colombia and Lima, Peru. Blanks, duplicates, and certified reference standards are inserted into the sample stream to monitor laboratory performance. Crush rejects and pulps are kept and stored in a secured storage facility for future assay verification. No capping has been applied to sample composites. The Company utilizes a rigorous, industry-standard QA/QC program.

Contact Information

Collective Mining Ltd.
Steve Gold, Vice President, Corporate Development and Investor Relations
Tel. (416) 648-4065

FORWARD-LOOKING STATEMENTS
This news release contains certain forward-looking statements, including, but not limited to, statements about the drill programs, including timing of results, and Collective's future and intentions. Wherever possible, words such as "may", "will", "should", "could", "expect", "plan", "intend", "anticipate", "believe", "estimate", "predict" or "potential" or the negative or other variations of these words, or similar words or phrases, have been used to identify these forward-looking statements. These statements reflect management's current beliefs and are based on information currently available to management as at the date hereof.

Forward-looking statements involve significant risk, uncertainties, and assumptions. Many factors could cause actual results, performance, or achievements to differ materially from the results discussed or implied in the forward-looking statements. These factors should be considered carefully, and readers should not place undue reliance on the forward-looking statements. Although the forward-looking statements contained in this news release are based upon what management believes to be reasonable assumptions, Collective cannot assure readers that actual results will be consistent with these forward-looking statements. These forward-looking statements are made as of the date of this news release, and Collective assumes no obligation to update or revise them to reflect new events or circumstances, except as required by law.

Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this news release.



Primary Logo

News Provided by GlobeNewswire via QuoteMedia

CNL:CA
The Conversation (0)
Collective Mining To Participate in Upcoming Conferences and Announces Launch of New Website

Collective Mining To Participate in Upcoming Conferences and Announces Launch of New Website

Collective Mining Ltd. (TSXV: CNL) ("Collective" or the "Company") is pleased to announce that it will be participating in two upcoming and in-person industry conferences. Management looks forward to discussing its ongoing 20,000+ metre drill program that has yielded three discoveries from four targets to date, including visually encouraging intercepts from a fifth target.

Upcoming Conferences

News Provided by GlobeNewswire via QuoteMedia

Keep reading...Show less
The Power Play by The Market Herald Releases New Interviews with Collective Mining, Metallic Minerals, Vertex Resource Group, and Blackrock Silver Corp.

The Power Play by The Market Herald Releases New Interviews with Collective Mining, Metallic Minerals, Vertex Resource Group, and Blackrock Silver Corp.

The Power Play by The Market Herald has announced the release of new interviews with Collective Mining, Metallic Minerals, Vertex Resource Group, and Blackrock Silver Corp. on their latest news.The Power Play by The Market Herald provides investors with a quick snapshot of what they need to know about the company's latest press release through exclusive insights and interviews with company executives.Collective Mining (TSXV:CNL) announces additional assay results from the Olympus Target

The Market Herald, Thursday, May 12, 2022, Press release picture


Collective Mining (CNL) has announced high-grade gold and silver channel sample assay results from the Olympic target at the Guayabales Project in Colombia. The company has three diamond drill rigs operating at the Guayabales Project as part of its 2022 drill program. Ari Sussman, Executive Chairman of Collective Mining sat down with Coreena Robertson to discuss the results from the Olympus and Apollo targets.
For the full interview with Ari Sussman and to learn more about Collective Mining, click here

Metallic Minerals (TSXV:MMG) introduces The Metallic Group's community relations team

News Provided by ACCESSWIRE via QuoteMedia

Keep reading...Show less
Collective Mining Outlines Multiple, High-Grade Vein Systems at Olympus with Assay Results from Channel Sampling of up to 221 g/t Gold and 812 g/t Silver

Collective Mining Outlines Multiple, High-Grade Vein Systems at Olympus with Assay Results from Channel Sampling of up to 221 g/t Gold and 812 g/t Silver

Collective Mining Ltd. (TSXV: CNL) ("Collective" or the "Company") is pleased to announce high-grade gold and silver channel sample assay results from its grassroot generated Olympus target ("Olympus") within the Guayabales project ("Guayabales"), Colombia. The Company presently has three diamond drill rigs operating at Guayabales with drills turning at the Olympus and Apollo targets as well as the newly discovered Trap target. At Olympus, the Company is focused on expanding upon the recently announced discovery holes of 302 metres @ 1.11 gt gold equivalent and 216.7 metres @ 1.08 gt gold equivalent (refer to press release dated March 15 and May 9, 2022, respectively).

News Provided by GlobeNewswire via QuoteMedia

Keep reading...Show less
Collective Mining Expands its Recent Discovery at the Donut Target with Broad Intercepts from Near Surface Including 108 Metres @ 1.13 g/t Gold Equivalent

Collective Mining Expands its Recent Discovery at the Donut Target with Broad Intercepts from Near Surface Including 108 Metres @ 1.13 g/t Gold Equivalent

Collective Mining Ltd. (TSXV: CNL) ("Collective" or the "Company") is pleased to announce assay results for the final five diamond drill holes completed in late 2021 at the Donut Target ("Donut") as part of its maiden drill program at the Guayabales project ("Guayabales"), located in Caldas, Colombia. The Company presently has four diamond drill rigs operating at Guayabales and plans to complete a minimum of 20,000 metres of drilling in 2022. The 2022 program will focus on expanding upon the recently announced Olympus Central discovery hole of 302 metres @ 1.11 gt gold equivalent while also testing for the first time a suite of new targets including but not limited to Victory East, Victory West, Olympus South and Apollo.

News Provided by GlobeNewswire via QuoteMedia

Keep reading...Show less
Collective Mining Forms a Strategic Alliance for 2022 With the Coffee Growers Committee of Caldas and the Municipalities of Supia and Marmato

Collective Mining Forms a Strategic Alliance for 2022 With the Coffee Growers Committee of Caldas and the Municipalities of Supia and Marmato

Collective Mining Ltd. (TSXV: CNL) ("Collective" or the "Company") is pleased to announce that the Company has executed a second agreement with the Coffee Growers Committee of Caldas (the "Committee") and the Municipalities of Supía and Marmato (together "the Parties") to build upon the success of the 2021 program by expanding the program in 2022 to further improve the lives of coffee growers and their families in Caldas. The Committee is part of the National Federation of Coffee Growers of Colombia ("FNC") which oversees the development of the country's coffee sector and is one of the most influential institutions in Colombia's agricultural industry . The alliance will directly benefit 1,652 coffee growers including their families and members of the local communities. Additionally, the Parties will continue fostering positive activities in the department of Caldas, which will serve to validate that mining and agricultural activities can exist harmoniously in the same region.

News Provided by GlobeNewswire via QuoteMedia

Keep reading...Show less
Rio Silver

Rio Silver


Keep reading...Show less
M&A graphic.

Orla to Buy Musselwhite Gold Mine from Newmont for US$850 Million

Orla Mining (TSX:OLA,NYSEAMERICAN:ORLA) has entered into a definitive deal to buy the Musselwhite gold mine from Newmont (TSX:NGT,NYSE:NEM), positioning the company to more than double its annual gold production.

The purchase, valued at US$810 million, with two additional contingent payments of US$20 million each, will set Orla up as a diversified North American gold producer as it marks the company's entry into Canada.

The first contingent payment will be made if the spot gold price exceeds US$2,900 per ounce in the first year after the transaction closes, and the second will be made if the price exceeds US$3,000 in the second year after closure.

Keep reading...Show less
Gold map of the world over black background.

10 Largest Producers of Gold by Country (Updated 2024)

The top countries for gold production are poised to benefit from the current gold bull market, as are the gold mining operations in those countries.

After climbing throughout the year, the price of gold hit a high of US$2,782 per ounce on October 30, up more than US$700 since the start of 2024. While it pulled back to around US$2,600 in the weeks following the US election on November 5, prices are still elevated.

Additionally, falling interest rates, geopolitical tensions in Ukraine and the Middle East and continued central bank gold purchases are providing ongoing support for the price of gold.

Keep reading...Show less
Gold bars in front of Canadian flag.

Indigenous-owned Mining Royalty Firm Targeting Canadian Resource Opportunities

Nations Royalty (TSXV:NRC,OTCQB:NRYCF), the first mining royalty company with majority Indigenous ownership, is attracting attention since listing on the TSX Venture Exchange this past June.

With 77 percent ownership by the Nisga’a Nation, the firm is also backed by Canadian businessman Frank Giustra.

As explained on Nations Royalty's website, the idea is to use mining royalties as a means to achieve financial independence for Indigenous communities, while also providing opportunities for investors.

Keep reading...Show less

Kestrel Option Partner Centerra Gold Continues Drilling at QCM Property

Kestrel Gold Inc. ("Kestrel" or the "Corporation")(TSXV:KGC) is pleased to provide an update on work completed by Centerra Gold Inc. ("Centerra")(TSX:CG) on the QCM gold property ("QCM") located in the Manson-Germanson area of central British Columbia. Centerra is currently in the process of earning a 75% interest in QCM by making cash payments totaling $900,000 and completing $6,500,000 in exploration work, which must include a minimum of 13,500 metres of drilling, by May 7th, 2029

Centerra's reverse circulation ("RC") drill program is well underway. A total of 6 holes and 813.97 metres have been completed to date with drilling ongoing. Completed holes are located in the 14 Vein area where RC drilling by Kestrel in 2022 returned up to 2.33 g/t Au over 44.19 metres. Results for the Centerra drill program will be released once analytical results have been received and interpreted. Centerra has also advised that they have submitted to the Ministry of Energy, Mines and Low Carbon Innovation of British Columbia an application for a 5-year Multi-Year-Area-Based (MYAB) permit, which upon receipt will allow for property wide exploration and drilling.

News Provided by ACCESSWIRE via QuoteMedia

Keep reading...Show less

White Gold Corp. Announces Significant Increase in Mineral Resources to 1,203,000 oz Gold Indicated and 1,116,600 oz Gold Inferred at the White Gold Project, Yukon, Canada

White Gold Corp. (TSX.V: WGO, OTCQX: WHGOF, FRA: 29W ) (the "Company") is pleased to announce an updated Mineral Resource Estimate ("MRE") for its flagship White Gold project located approximately 95 km south of Dawson City in west-central Yukon, Canada. The updated mineral resource includes a significant increase in total gold ounces, including a 18.5% increase in inferred resources and an 4.3% increase in indicated resources. The White Gold project now comprises 1,203,000 ounces of gold in the Indicated Resource category (17.7 million tonnes averaging 2.12 gt Au) and 1,116,600 ounces of gold in the Inferred Resource category (24.5 million tonnes averaging 1.42 gt Au) at US$2,000oz gold. The gold resources at the White Gold Project are near surface, almost entirely captured within an open pit, and remain open for expansion in multiple directions with additional opportunities to increase total resources via targets within close proximity. Additional increases to the size of the resource may also be possible through an ongoing analysis of the resource block model and by capturing additional ounces hosted within the Target for Further Exploration area which hosts an additional estimated 10 12 million tonnes grading between 1 2 gt Au. These results form part of the Company's work program supported by strategic partners including Agnico Eagle Mines Limited (TSX: AEM, NYSE: AEM) and Kinross Gold Corporation (TSX: K, NYSE: KGC).

News Provided by GlobeNewswire via QuoteMedia

Keep reading...Show less

Latest Press Releases

Related News

×