Collective Mining Ltd. (CNL) reported positive results from recent drilling at its Guayabales project in Caldas, Colombia. The company’s exploration efforts yielded a substantial silver discovery at the X target and confirmed high-grade mineralization at the Apollo system.
Initial drilling at the X target, guided by soil and geophysical anomalies, intersected multiple zones of silver-rich veins across a large area. These findings suggest a potentially substantial silver deposit. The company plans further drilling to expand upon this discovery.
Ari Sussman, Executive Chairman of Collective Mining, highlighted the significance of the X target discovery. He noted the large size of the mineralized area and the potential for further expansion. He also indicated that the initial drilling provided valuable geological information.
At the Apollo system, infill drilling confirmed previous grade estimates, providing further confidence in the company’s internal block model. The results validated the presence of high-grade gold, silver, and copper mineralization. This confirmation supports future development plans.
Drilling at the ME target also occurred, although results were less impressive than at other sites. The company found some moderately mineralized veins, but the primary gravity anomaly proved to be caused by ultramafic schist. Further work is planned to assess the area’s full potential.
Collective Mining is currently conducting a 70,000-meter drilling program, with eleven rigs operating across its Guayabales and San Antonio projects. The company has already completed over 134,500 meters of diamond drilling at Guayabales, with numerous assays pending.
The company’s flagship Guayabales project, centered around the Apollo system, is a large-scale, bulk-tonnage gold-silver-copper-tungsten deposit. The company’s strategy focuses on improving the grade of the Apollo system, expanding the high-grade Ramp zone, and exploring new targets.
The San Antonio project, located near Guayabales, is also undergoing significant exploration efforts. The company is aiming to expand upon the recently discovered porphyry system at the Pound target. The proximity of the two projects may allow for shared infrastructure, leading to potential cost savings.
Collective Mining is listed on both the NYSE American and TSX exchanges under the symbol CNL. Management and significant investors hold a substantial portion of the company’s outstanding shares. The company’s qualified person for this release is David J. Reading, who holds an MSc in Economic Geology and is a Fellow of relevant professional organizations. He reviewed and verified the technical information in the release. The company employs rigorous quality control procedures in its sampling and analysis processes. These procedures include the use of blanks, duplicates, and certified reference standards. The company maintains detailed records of its samples.
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