Collective Mining Ltd. (TSXV: CNL)(“Collective” or the “Company”) is excited to announce the discovery of a new high-grade copper-gold-silver porphyry-related breccia at the Guayabales project, located in Caldas, Colombia. APC-1, which is the first ever diamond drill hole to test the Apollo target (“Apollo”), was collared approximately 600 metres southeast of the previously announced Olympus discovery hole that assayed 302 metres @ 1.11 g/t gold equivalent (see release dated March 15, 2022). Apollo is one of eight porphyry-related targets situated within a three-by-four-kilometre cluster area generated by the Company through grassroots exploration. As part of its fully funded 20,000 metre drill program for 2022, there are currently three diamond drill rigs operating at Guayabales, with two turning at Apollo and one turning at the Trap target.
Highlights (See Figures 1 – 4)
10.9 metres @ 4.55 g/t AuEq from 291.6 metres down hole; and
14.3 metres @ 3.67 g/t AuEq from 352 metres down hole
“The discovery at Apollo opens a new and very exciting front for the Company. Firstly, it is the first time that the Company has discovered a significant amount of copper. Secondly, large mineralized systems generally have multiple styles of overprinting mineralization and in the case of Apollo, we have already observed three different mineralization types, namely two types of porphyry related CBM veins and of course the mineralized breccia. Our technical team also believes that the Apollo discovery may be the first in a series of porphyry and breccia discoveries at the Apollo target,” commented Ari Sussman, Executive Chairman. “With a second rig recently commissioned and now coring, we have made the decision to soon add a third rig to the program in order to aggressively unlock the potential value of this discovery.”
Table 1: Assays Results
| HoleID | From (m) | To (m) | Intercept (m)** | Au (g/t) | Ag (g/t) | Cu % | Zn % | Pb % | Mo % | AuEq (g/t)* |
| APC-1 | 291.60 | 379.40 | 87.80 | 0.88 | 61 | 0.39 | 0.07 | 0.05 | 0.001 | 2.49 |
| Incl | 291.60 | 302.50 | 10.90 | 1.03 | 156 | 0.58 | 0.34 | 0.26 | 0.001 | 4.55 |
| and | 352.00 | 366.30 | 14.30 | 2.41 | 28 | 0.50 | 0.02 | 0.00 | 0.001 | 3.67 |
*AuEq (g/t) is calculated as follows: (Au (g/t) x 0.95) + (Ag g/t x 0.014 x 0.95) + (Cu (%) x 2.06 x 0.95) + (Mo (%) x 6.86 x 0.95+(Zn(%)x 0.80 x 0.95)+ (Pb(%)x 0.45 x 0.95) utilizing metal prices of Cu – US$4.50/lb, Mo – US$15.00/lb, Zn – US$1.75/lb, Pb – US$1.0/lb, Ag – $21/oz and Au – US$1,500/oz and recovery rates of 95% for Au, Ag, Cu, Mo, Zn and Mo. Recovery rate assumptions are speculative as no metallurgical work has been completed to date.
** A 0.4 g/t AuEq cut-off grade was employed with no more than 10% internal dilution. True widths are unknown, and grades are uncut.
Figure 1: Plan View of the Guayabales Project Highlighting the Apollo Target
Figure 2: Plan View of the Apollo Target Area Outlining the Porphyry and Breccia Targets, their Related Soil Anomalies and Drill Holes Completed or Currently Underway
Figure 3: Plan View of the Hydrothermal Breccia Discovery Made at Apollo
Figure 4: Apollo Target Cross Section N-S With APC-1 and Related Core Photos Highlighted
About Collective Mining Ltd.
To see 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 significant new mineral discoveries and advance the projects to production. Management, insiders and close family and friends own nearly 45% 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 eight major targets have been defined. The Company is fortuitous to have made significant grassroot discoveries at both projects with near-surface discovery holes at the Guayabales project yielding 302 metres at 1.11 g/t AuEq at the Olympus target, 163 metres at 1.3 g/t AuEq at the Donut target and 87.8 metres at 2.49 g/t AuEg at the Apollo target. At the San Antonio project, the Company intersected, from surface, 710 metres at 0.53 AuEq. (See press releases dated October 27th, 2021, November 15, 2021, March 15, 2022 and June 28, 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.
Photos accompanying this announcement are available at:
https://www.globenewswire.com/NewsRoom/AttachmentNg/daebaee6-2d48-47e3-8e6d-7d0ffec9969c
https://www.globenewswire.com/NewsRoom/AttachmentNg/035afcd0-f037-41e8-acce-5e596b6ffe72
https://www.globenewswire.com/NewsRoom/AttachmentNg/8b416f51-a785-4cfe-ac2e-5c67658955d0
https://www.globenewswire.com/NewsRoom/AttachmentNg/37c36a24-ac20-4c9e-a57a-877175620c85
Click here to connect with Collective Mining Ltd. (TSXV: CNL) to receive an Investor Presentation
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
121 Mining Investment, New York, NY – June 6-7, 2022 – Investors may sign up here to register and arrange a meeting with Company management.
PDAC, Toronto, ON – June 13-15, 2022 – Investors may register here and visit the Company at booth 2714 .
New Website
The Company is pleased to announce that it has launched a new website with a fresh, user-friendly look which can be found at www.collectivemining.com . Here, investors can subscribe to our latest news, arrange a one-on-one meeting with management and learn about our two exciting projects as well as our three recent and promising discoveries.
About Collective Mining Ltd.
To view the Company's most recent investor 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 at both the Guayabales and San Antonio projects a total of eleven major targets have been defined. The Company is fortuitous to have made significant grassroots discoveries on both projects with discovery holes of 302 metres 1.1 g/t AuEq and 104 metres @ 1.3 g/t AuEq at the Guayabales project and 710 metres @ 0.53 AuEq at the San Antonio project. ( See press releases dated October 18 th and 27 th , 2021 and March 15, 2022, for AuEq calculations.)
Contact Information
Collective Mining Ltd.
Steve Gold, Vice President, Corporate Development and Investor Relations
Tel. (416) 648-4065
To schedule a one-on-one meeting with management please use the following link:
https://calendly.com/collectivemining/30min?month=2021-11
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.
News Provided by GlobeNewswire via QuoteMedia
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
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
Metallic Minerals (MMG) has announced The Metallic Group's new community relations team. The team includes Lauren Blackburn, Yukon-based Regulatory and Permitting Manager, and the newly hired Lindsay Wilson as Manager, Community and Investor Relations. President Scott Petsel spoke with Coreena Robertson about the new team.
For the full interview with Scott Petsel and to learn more about Metallic Minerals, click here
Vertex Resource Group (TSXV:VTX) reports Q1 2022 results
Vertex Resource Group (VTX) has reported its financial and operational results for the fourth quarter and year ended December 31, 2021. Highlights include $45.4 million in revenues and an adjusted EBITDA of $5.7 million. Terry Stephenson, President & CEO of Vertex Resource Group sat down with Folake Ekwubiri to highlight the results and share the company's outlook for 2022.
For the full interview with Terry Stephenson and to learn more about Vertex Resource Group, click here
Blackrock Silver Corp. (TSXV:BRC) begins Tonopah West expansion & step-out program
Blackrock Silver Corp. (BRC) has commenced a fully funded 10,000-metre drill program on its Tonopah West Project. The project is located in the Walker Lane trend of Western Nevada. Blackrock President & CEO Andrew Pollard sat down with Folake Ekwubiri to discuss the news.
For the full interview with Andrew Pollard and to learn more about Blackrock Silver Corp, click here
Interviews for The Power Play by The Market Herald are released daily. To learn more about the companies featured in The Power Play or to explore our other interviews visit The Power Play by The Market Herald.
About The Market Herald
The Market Herald Canada is the leading source of authoritative breaking stock market news for self-directed investors. Our team of Canadian markets reporters, editors and technologists covers the entire listed company universe in Canada. We cover over 3,985 businesses, their people, their investors, and their customers. We write the stories that move the Canadian capital markets.
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SOURCE: The Market Herald
News Provided by ACCESSWIRE via QuoteMedia
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).
Highlights (Table 1 and Figures 1 and 2)
Table 1: Chip Channel Sample Assay Results from Olympus
| Sample ID | Au (g/t) | Ag (g/t) |
| R5465 | 220.97 | 812 |
| R5437 | 134.73 | 598 |
| R5450 | 88.28 | 409 |
| R5216 | 73.83 | 675 |
| R5412 | 59.15 | 365 |
| CM3948 | 38.78 | 450 |
| R5226 | 33.91 | 33 |
| R5464 | 17.02 | 68 |
| R5453 | 9.06 | 353 |
| R5224 | 5.61 | 1 |
| R5448 | 5.28 | 329 |
| R5456 | 5.17 | 89 |
| R5467 | 5.02 | 62 |
| R5413 | 4.97 | 238 |
| R5435 | 4.39 | 108 |
| R5434 | 4.20 | 193 |
| R5417 | 2.87 | 161 |
| R5452 | 2.75 | 76 |
| R5449 | 2.65 | 102 |
| R5219 | 2.57 | 54 |
| R5457 | 1.45 | 347 |
* C hannel chip samples reported above are over true horizontal sampling widths of between 0.1 and 1 m etre . Sample grades are uncapped
* * Channel samples are representative of 2 - dimensional space and as a result should not be relied upon as being representative of average gra des anticipated in any future resource estimate or mining scenario .
** *Assay results for b ase metal s are still pending for all samples listed .
"With the scale of veining and alteration at Olympus and mineralized systems that come to surface, the Company now believes that we have a discovered a vein and broad mineralized system," commented Ari Sussman, Executive Chairman. "The more exploration we undertake, the more high-grade veins we find. We will remain aggressive with drilling at Olympus and look forward to commencing the first underground drill-hole into the high-grade vein portion of the system in June 2022."
Figure 1: Plan View of the Guayabales Project and the Olympus South Target
https://www.globenewswire.com/NewsRoom/AttachmentNg/a3099c7e-51eb-4385-89ec-620f9c6a649d
Figure 2: Photos of High-Grade Polymetallic Grab Samples Taken at Olympus
https://www.globenewswire.com/NewsRoom/AttachmentNg/cbbce069-dbb1-4ad0-b430-f28519b8285c
Veins of massive sulfides with pyrite, sphalerite, galena and chalcopyrite.
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 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.
About Collective Mining Ltd.
To view the Company's most recent investor 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 at both the Guayabales and San Antonio projects a total of eleven major targets have been defined. The Company is fortuitous to have made significant grassroots discoveries on both projects with discovery holes of 302 metres 1.1 g/t AuEq and 104 metres @ 1.3 g/t AuEq at the Guayabales project and 710 metres @ 0.53 AuEq at the San Antonio project. ( See press releases dated October 18 th and 27 th , 2021 and March 15, 2022, for AuEq calculations.)
Contact Information
Collective Mining Ltd.
Steve Gold, Vice President, Corporate Development and Investor Relations
Tel. (416) 648-4065
To schedule a one-on-one meeting with management please use the following link:
https://calendly.com/collectivemining/30min?month=2021-11
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.
News Provided by GlobeNewswire via QuoteMedia
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)
"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.
News Provided by GlobeNewswire via QuoteMedia
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.
Highlights (See Table 1 and Figures 1 – 2)
"Over the course of the past year, Collective has drilled five grassroots generated targets and made three significant new discoveries, two of which are at the Guayabales project and one at the San Antonio project. In my career, I have never been involved in projects as prospective as our current portfolio. We plan on remaining aggressive for the balance of 2022 and will focus on expanding the mineralization at Olympus Central, where we recently drilled the discovery hole yielding 302 metres from near surface at 1.11 g/t gold equivalent. Additionally, over the next two weeks we will begin drilling at the Apollo target, which is characterized by coincidental copper and molybdenum soil anomalies blanketing outcropping porphyry related veins and breccias. By the middle of Q2, 2022 maiden drill programs will begin at the Victory East and Victory West targets, both of which are large scale copper and gold porphyry targets. Finally, drill programs to test the high-grade vein system at Olympus South and the porphyry potential at Donut will commence in early Q3, 2022," commented Ari Sussman, Executive Chairman.
Table 1: Assay Results for drill holes DOC-6 – DOC-10
| Hole ID | From (m) | To (m) | Intercept (m) | Au (g/t) | Ag (g/t) | Cu % | Mo % | AuEq (g/t)* |
| DOC-6 | 58.0 | 209.1 | 151.1 | 0.54 | 11 | 0.03 | 0.002 | 0.74 |
| Incl. | 58.0 | 88.6 | 30.60 | 0.83 | 10 | 0.03 | 0.002 | 1.02 |
| DOC-7 | 13.0 | 155.2 | 142.2 | 0.36 | 13 | 0.03 | 0.002 | 0.63 |
| DOC-8 | 18.0 | 125.7 | 107.7 | 0.78 | 21 | 0.02 | 0.001 | 1.13 |
| Incl. | 27.9 | 30.4 | 2.50 | 15.62 | 6 | 0.03 | 0.001 | 14.99 |
| DOC-9 | 5.4 | 74.3 | 68.9 | 0.97 | 24 | 0.03 | 0.002 | 1.39 |
| DOC-10 | 53.5 | 229.7 | 176.2 | 0.44 | 22 | 0.03 | 0.002 | 0.84 |
| Incl | 53.5 | 99.6 | 46.10 | 0.44 | 34 | 0.04 | 0.002 | 1.06 |
* AuEq (g/t) is calculated as follows: (Au (g/t) x 0.95) + (Ag g/t x 0.017 x 0.95) + (Cu (%) x 2.06 x 0.95) + (Mo (%) x 6.86 x 0.95), utilizing metal prices of Cu – US$4.50/lb, Mo – US$15.00/lb, Ag – $25/oz and Au – US$1,500/oz and recovery rates of 95% for Au, Ag, Cu and Mo. Recovery rate assumptions are speculative as no metallurgical work has been completed to date.
** A 0.1 g/t AuEq cut-off grade was employed with no more than 10% internal dilution. True widths are unknown, and grades are uncut.
Figure 1: Plan View of the Guayabales Project Highlighting the Donut Target
https://www.globenewswire.com/NewsRoom/AttachmentNg/1811d333-0275-41df-a665-d5ada19f8db2
Figure 2: Plan View of the Donut Target Area
https://www.globenewswire.com/NewsRoom/AttachmentNg/37201ee8-2162-46fa-8231-a2a9186aaf9b
About Collective Mining Ltd.
Click HERE to view our latest corporate presentation, or find it at 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 104 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 18 th and 27 th , 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.
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AbraSilver Resource Corp. (TSXV: ABRA) (OTCQX: ABBRF) ("AbraSilver" or the "Company") is pleased to announce that it has entered into subscription agreements in respect of a strategic C$20 million non-brokered private placement of AbraSilver common shares ("Common Shares") with Kinross Gold Corporation ("Kinross") (NYSE: KGC) (TSX: K) and an affiliate of Central Puerto SA ("Central Puerto") (NYSE: CEPU) at a subscription price of C$0.40 per Common Share (the "Private Placement").
Mr. John Miniotis , President and CEO of AbraSilver commented: "We are very excited to welcome both Kinross and Central Puerto as important strategic shareholders and partners. Through this transaction, AbraSilver is well funded for a dual strategy to aggressively advance the Diablillos project towards a production decision and to accelerate our exploration efforts. The Company also gains access to the deep technical expertise in mineral exploration, mine development, and power generation. We look forward to working closely with our new partners as we embark upon the next stages of successfully advancing the development of our high-quality Diablillos silver-gold project."
Mr. Rob Bruggeman , Chairman of AbraSilver commented: "The strategic investments by Kinross and Central Puerto represent a strong endorsement of the Diablillos project and our technical team. The exploration team has successfully grown Mineral Resources and Reserves at the Diablillos project and we look forward to unlocking additional value at Diablillos and, potentially, other projects in Argentina . We look ahead to leveraging the relationships with Kinross and Central Puerto as we continue to grow the Company."
All Common Shares issued in the Private Placement will be subject to a statutory hold period of four months and a day from the date of issuance in accordance with applicable securities laws. Closing of the Private Placement is expected to occur on or about April 26, 2024 and is subject to certain conditions including, but not limited to, approval by the TSX Venture Exchange (the "TSX-V").
The Company will use the proceeds of the Private Placement for exploration and development of the Company's flagship Diablillos project in Salta Province , Argentina ("Diablillos" or the "Project") and for working capital and general corporate purposes.
Central Puerto is the largest private sector power generation company in Argentina , with a track record of more than 100 years in the energy industry.
Upon closing of the Private Placement, AbraSilver will enter into separate investor rights agreements (each, an "Investor Rights Agreement") with each of Kinross and Central Puerto, which provide, among other things, the grant of standard anti-dilution and equity participation rights.
The Investor Rights Agreement will also provide for the formation of a five-person Technical Advisory Committee comprised of two members from AbraSilver, two members from Kinross and one member from Central Puerto. The Technical Advisory Committee will provide advice and guidance on the upcoming Phase IV exploration campaign and the future development plans for Diablillos. Separately a Strategic & Operational Committee will be formed, comprised of two members from AbraSilver and two members from Central Puerto. The Strategic & Operational Committee will provide advice and guidance on strategic, operational, financial, tax, infrastructure, government and regulatory affairs, among others matters.
AbraSilver and Kinross aim to form a regional partnership to jointly explore for and acquire new projects in Argentina focused on silver, gold, and copper. Upon closing of the Private Placement, AbraSilver will grant Kinross a Right of First Offer (the "ROFO") to acquire at least 50% of newly staked or acquired projects in Argentina beyond Diablillos. For any projects which Kinross elects to exercise its ROFO, Kinross and AbraSilver will establish an exploration program and budget, and enter into a joint venture agreement with standard funding and dilution mechanisms.
Following completion of the Private Placement, the Company is expected to complete a consolidation of its common shares, subject to TSX-V approval, on the basis of one (1) post-consolidation common share for every five (5) pre-consolidation common shares (the "Consolidation"). The Company's common shares will commence trading on a post-consolidated basis on a date to be determined in consultation with the TSX-V, which date will be announced in a subsequent news release once confirmed. The Company's name and trading symbols will remain unchanged.
Kinross is a Canadian-based global senior gold mining company with operations and projects in the United States , Brazil , Mauritania , Chile and Canada . Their focus is on delivering value based on the core principles of responsible mining, operational excellence, disciplined growth, and balance sheet strength. Kinross maintains listings on the Toronto Stock Exchange (symbol:K) and the New York Stock Exchange (symbol:KGC).
Central Puerto is a leading company in the production of electrical energy in Argentina that has 13 generation plants of various technologies, +800 employees and reaches a 18% market share thanks to its operational excellence and profitability. Its mission is to produce electricity efficiently, sustainably and in harmony with the environment. In turn, it seeks to contribute to supplying demand, managing businesses in such a way that they create value not only for the company, but also for society. Currently, it has an installed generation capacity of 7,200 MW. Central Puerto maintains a listing on the New York Stock Exchange (symbol:CEPU).
AbraSilver is an advanced-stage exploration company focused on rapidly advancing its 100%-owned Diablillos silver-gold project in the mining-friendly Salta province of Argentina . The current Proven and Probable Mineral Reserve estimate for Diablillos consists of 42.3 Mt grading 91 g/t Ag and 0.81 g/t Au, containing approximately 124 Moz silver and 1.1 Moz gold, with significant further exploration upside potential. In addition, the Company has entered into an earn-in option and joint venture agreement with Teck on the La Coipita project, whereby Teck can fund up to US$20 million in exploration expenditures and make certain other payments to earn up to an 80% interest. AbraSilver is listed on the TSX-V under the symbol "ABRA" and in the U.S. on the OTCQX under the symbol "ABBRF."
For further information please visit the AbraSilver Resource website at www.abrasilver.com , our LinkedIn page at AbraSilver Resource Corp. , and follow us on Twitter at www.twitter.com/abrasilver .
This news release includes certain "forward-looking statements" under applicable Canadian securities legislation. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties, and other factors which may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking statements. All statements that address future plans, activities, events or developments that the Company believes, expects or anticipates will or may occur are forward-looking information. Forward-looking statements in this news release include but are not limited to, statements with respect to the closing of the Private Placement, the entering into of the Investor Rights Agreements, the completion by the Company of a share consolidation and any exercise of the ROFO in respect of newly staked or acquired projects in Argentina . There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. When considering this forward-looking information, readers should keep in mind the risk factors and other cautionary statements in the Company's disclosure documents filed with the applicable Canadian securities regulatory authorities on SEDAR+ at www.sedarplus.ca . The risk factors and other factors noted in the disclosure documents could cause actual events or results to differ materially from those described in any forward-looking information. The Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.
SOURCE AbraSilver Resource Corp.
View original content: http://www.newswire.ca/en/releases/archive/April2024/22/c3591.html
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