Latest news with #SanAntonioProject
Cision Canada
21-07-2025
- Business
- Cision Canada
Collective Mining Drills 442.35 Metres at 2.16 g/t Gold Equivalent Commencing from Surface at Apollo
High-grade gold, copper, silver and tungsten assay results have been received for a further five holes from its ongoing drilling program designed to outline and expand the near surface zone of mineralization at the Apollo system with highlighted results as follows: 442.35 metres @ 2.16 g/t gold equivalent (1.18 g/t gold, 43 g/t silver, 0.21% copper and 0.05% WO 3) from surface (APC-125) including 68.05 metres @ 4.55 g/t gold equivalent. The hole bottomed while still in strong mineralization. 325.10 metres @ 2.03 g/t gold equivalent (0.98 g/t gold, 27 g/t silver, 0.47% copper, and 0.03% WO 3) from 8 metres below surface (APC-126) TORONTO, July 21, 2025 /CNW/ - Collective Mining Ltd. (NYSE: CNL) (TSX: CNL) ("Collective" or the "Company") is pleased to announce assay results for five diamond drill holes designed to better outline and expand the shallow portion of gold-silver-copper-tungsten mineralization at the Apollo system ("Apollo"). Apollo, which begins at surface, is strongly mineralized over 1,200 vertical metres, is open at depth and is the most advanced discovery made to date within the Company's multi-target, Guayabales Project in Caldas, Colombia. The Company currently has ten drill rigs operating as part of its fully funded 70,000 metre drill program for 2025 with eight rigs operating at the Guayabales Project and two rigs turning at the San Antonio Project. Drilling at the Guayabales Project is focused on multiple objectives which include defining the shallow mineralization, expanding and identifying new high-grade sub-zones, expanding the high-grade Ramp Zone at depth and testing a series of Apollo look-alike gravity targets which were recently announced (see press release dated June 30, 2025). The first of two deep capacity drill rigs is now operating at site and is extending a previous step-out hole which failed to reach its intended depth when targeting the Ramp Zone. Once completed, this rig will begin drilling a new mother hole for a planned series of directional intercepts into the Ramp Zone. A second deep capacity rig, also designed to expand upon the high-grade Ramp Zone discovery, is expected to arrive at site in Q3, 2025. Approximately 131,500 metres of diamond drilling has been completed to date at the Guayabales Project, including 92,000 metres at Apollo. There are currently thirty-one drill holes in the lab with assay results for most of these holes expected in the near term. Ari Sussman, Executive Chairman commented: "Shallow drilling at Apollo continues to exceed expectations as we are expanding the near surface envelope of mineralization and improving upon both the grade and confidence in the model." "Deep drilling that is targeting the Ramp Zone is now underway with the arrival of our first large capacity rig to site. The deep capacity rig is almost finished extending a previous drilled hole which did not reach its intended depth due to the original rigs capacity. Visual inspection of this hole indicates that Ramp Zone style mineralization is being encountered and if assay results are favorable, the hole would extend the Ramp Zone by approximately 250 meters to the east of all prior drilling. Additionally, we are currently drill testing the ME, Knife and X gravity targets and soon plan to begin drilling at the Apollo South gravity target in hopes of making another major discovery before the end of 2025." Details (see Table 1 and Figures 1-3) Five drill holes drilled from Pad 22, Pad 23 and Pad 25 intersected high-grade gold, silver, copper and tungsten mineralization from at or near surface with results as follows: 442.35 metres @ 2.16 g/t gold equivalent from surface (APC-125) and bottoming in high-grade mineralization including: 68.05 metres @ 4.55 g/t gold equivalent from 3.10 metres 61.40 metres @ 3.46 g/t gold equivalent from 279.30 metres The intercept in hole APC-125 extended the mineralization to surface and improved the grade in this location within the Company's internal block model. 325.10 metres @ 2.03 g/t gold equivalent from 8.0 metres downhole (APC-126) including: 40.55 metres @ 3.21 g/t gold equivalent from 15.50 metres 72.15 metres @ 3.15 g/t gold equivalent from 99.65 metres 99.75 metres @ 2.09 g/t gold equivalent from 20.95 metres downhole including 22.45 metres @ 5.17 g/t gold equivalent (APC-124 drilled to the north from Pad 23). 95.85 metres @ 2.66 g/t gold equivalent from 30.80 metres downhole including 29.15 metres @ 3.99 g/t gold equivalent (APC-129 drilled to the northeast from Pad 25). 221.10 metres @ 1.33 g/t gold equivalent from 7.55 metres downhole including 20.25 metres @ 2.95 g/t gold equivalent from 31.90 metres downhole (APC-131 drilled to the north from Pad 25). Seventy percent of the drill program targeting the shallowest portion of Apollo has now been completed, with assays still pending for five holes and additional holes being drilled. To date, drill intercepts from the shallow program have expanded the volume of the shallow mineralized area by approximately 5 percent. Once the shallow drilling program has been completed, the average drill hole spacing will be 35 metres from surface to a vertical depth of 150 metres. Table 1: Assays Results for Drill Holes APC-124, APC-125, APC-126, APC-129 and APC-131 AuEq (g/t) is calculated as follows: (Au (g/t) x 0.97) + (Ag (g/t) x 0.015 x 0.85) + (Cu (%) x 1.44 x 0.95) + (WO 3 (%) x 4.84 x 0.72) utilizing metal prices of Au – US$2,200/oz, Ag – US$33/oz, Cu – US$4.62/lb and WO 3 – US$15.51/lb and recovery rates of 97% for Au, 85% for Ag, 95% for Cu and 72% for WO 3. Recovery rate assumptions for metals are based on metallurgical results announced on October 17, 2023, April 11, 2024, and October 3, 2024. True widths are between 60%-100% of the total length and grades are uncut About Collective Mining Ltd. To see our latest corporate presentation and related information, please visit Founded by the team that developed and sold Continental Gold Inc. to Zijin Mining for approximately $2 billion in enterprise value, Collective is a gold, silver, copper and tungsten exploration company with projects in Caldas, Colombia. The Company has options to acquire 100% interests in two projects located directly within an established mining camp with ten fully permitted and operating mines. The Company's flagship project, Guayabales, is anchored by the Apollo system, which hosts the large-scale, bulk-tonnage and high-grade gold-silver-copper-tungsten Apollo system. The Company's objectives are to improve the overall grade of the Apollo system by systematically drill testing newly modeled potentially high-grade sub-zones, expand the Apollo system by stepping out along strike to the north and expanding the newly discovered high-grade Ramp Zone along strike and to depth and drill a series of less advanced or newly generated targets including Trap, the Knife and X. Additionally, the Company has launched its largest drilling campaign in history at the San Antonio Project as it hunts for a large bulk-tonnage porphyry system. Management, insiders, a strategic investor and close family and friends own 44.5% of the outstanding shares of the Company and as a result, are fully aligned with shareholders. The Company is listed on both the NYSE and TSX under the trading symbol "CNL". 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 Samples were cut by Company personnel at Collective Mining's core facility in Caldas, Colombia. Diamond drill core was sawed and then sampled in maximum 2 metres intervals, stopping at geological boundaries. Drill hole core diameter is a mix of PQ, HQ and NQ depending on the depth of the drill hole. Core samples have been prepared and analyzed at ALS 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. Information Contact: Follow Executive Chairman Ari Sussman (@Ariski73) on X Follow Collective Mining (@CollectiveMini1) on X, (Collective Mining) on LinkedIn, and (@collectivemining) on Instagram FORWARD-LOOKING STATEMENTS This news release contains "forward-looking statements" and "forward-looking information" within the meaning of applicable securities legislation (collectively, "forward-looking statements"). All statements, other than statements of historical fact, are forward-looking statements and are based on expectations, estimates and projections as at the date of this news release. Any statement that involves discussion with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions, future events or performance (often, but not always using phrases such as "plans", "expects", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates", or "believes" or variations (including negative variations) of such words and phrases, or state that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved) are not statements of historical fact and may be forward-looking statements. In this news release, forward-looking statements relate, among other things, to: the anticipated advancement of mineral properties or programs; future operations; future recovery metal recovery rates; future growth potential of Collective; and future development plans. These forward-looking statements, and any assumptions upon which they are based, are made in good faith and reflect our current judgment regarding future events including the direction of our business. Management believes that these assumptions are reasonable. Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Such factors include, among others: risks related to the speculative nature of the Company's business; the Company's formative stage of development; the Company's financial position; possible variations in mineralization, grade or recovery rates; actual results of current exploration activities; conclusions of future economic evaluations; fluctuations in general macroeconomic conditions; fluctuations in securities markets; fluctuations in spot and forward prices of gold, precious and base metals or certain other commodities; fluctuations in currency markets; change in national and local government, legislation, taxation, controls regulations and political or economic developments; risks and hazards associated with the business of mineral exploration, development and mining (including environmental hazards, industrial accidents, unusual or unexpected formation pressures, cave-ins and flooding); inability to obtain adequate insurance to cover risks and hazards; the presence of laws and regulations that may impose restrictions on mining; employee relations; relationships with and claims by local communities and indigenous populations; availability of increasing costs associated with mining inputs and labour; the speculative nature of mineral exploration and development (including the risks of obtaining necessary licenses, permits and approvals from government authorities); and title to properties, as well as those risk factors discussed or referred to in the annual information form of the Company dated March 24, 2025. Forward-looking statements contained herein are made as of the date of this news release and the Company disclaims any obligation to update any forward-looking statements, whether as a result of new information, future events or results, except as may be required by applicable securities laws. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements and there may be other factors that cause results not to be anticipated, estimated or intended. Accordingly, readers should not place undue reliance on forward-looking statements.
Cision Canada
14-07-2025
- Business
- Cision Canada
Collective Mining Drills 397.50 Metres at 2.62 g/t Gold Equivalent Commencing from Surface at Apollo
High-grade gold, copper, silver and tungsten assay results have been received for the further six holes from the shallow drilling program designed to outline and expand the zone of mineralization with highlighted results as follows: 397.50 metres @ 2.62 g/t gold equivalent (1.20 g/t gold, 60 g/t silver, 0.33% copper and 0.07% WO 3) from surface (APC-122) with a grade accumulation of 1,041 gram x metres. The hole bottomed while still in strong mineralization. 135.20 metres @ 2.71 g/t gold equivalent (0.66 g/t gold, 50 g/t silver, 0.67% copper, and 0.15% WO 3) from surface (APC-119) TORONTO, July 14, 2025 /CNW/ - Collective Mining Ltd. (NYSE: CNL) (TSX: CNL) ("Collective" or the "Company") is pleased to announce assay results for six diamond drill holes designed to better outline and expand the shallow portion of gold-silver-copper-tungsten mineralization at the Apollo system ("Apollo"). Apollo, which begins at surface and is strongly mineralized over 1,200 vertical metres and open at depth, is the most advanced discovery made to date within the Company's multi-target, Guayabales project in Caldas, Colombia. The Company currently has nine drill rigs operating as part of its fully funded 70,000 metre drill program for 2025 with seven rigs operating at the Guayabales Project and two rigs turning at the San Antonio Project. Drilling in the Guayabales Project is focusing on defining the shallow mineralization, high-grade sub-zones, expanding the high-grade Ramp Zone at depth and testing a series of Apollo look-alike gravity targets which were announced recently (see press release dated June 30, 2025). Two additional deep capacity rigs are being mobilized to resume testing the high-grade Ramp Zone with the first of these rigs expected to begin operations by early August 2025. Approximately 129,500 metres of diamond drilling has been completed to date at the Guayabales Project, including 91,000 metres at Apollo. There are currently twenty-five drill holes in the lab with assay results for most of these holes expected in the near term. Ari Sussman, Executive Chairman commented: "Drilling at Apollo continues to intercept impressive mineralization which begins at surface, extends over more than 1,200 vertical metres and is still open at depth. The second half of the year is going to be exciting as we are positioning the Company to deliver the next leg of growth. Firstly, and importantly, the first of two, deep penetrating rigs has just arrived in Colombia and will soon be mobilized to Apollo where it will begin an expansion program of the high-grade Ramp Zone located at the bottom of Apollo. Secondly, exploratory drilling is underway on the series of Apollo look-alike gravity anomalies located within 2 kilometres of Apollo and on trend from the Marmato mine. Finally, our second rig at the San Antonio Project is now turning as we follow up on promising earlier drill results indicating the potential to discover a large porphyry system." Details (see Table 1 and Figures 1-3) Six drill holes drilled from Pad 22 and Pad 23 intersected high-grade gold, silver, copper and tungsten mineralization at or near surface in intervals ranging between 50 and 400 metres, with results as follows: APC-122: 397.50 metres @ 2.62 g/t gold equivalent from surface and bottoming in high-grade mineralization including: 57.70 metres @ 4.00 g/t gold equivalent from 17.40 metres 40.55 metres @ 4.00 g/t gold equivalent from 293.25 metres 34.80 metres @ 4.13 g/t gold equivalent from 348.20 metres The intercept in hole APC-122 yielded 1,041 g/t gold equivalent on a gram X metre basis and is the eighteenth gold equivalent accumulation drilled at Apollo at over 1,000 grams x metres. 135.20 metres @ 2.71 g/t gold equivalent from surface and including 43.85 metres @ 3.15 g/t gold equivalent (APC-119 drilled in a northwest direction from Pad 22). 152.10 metres @ 2.06 g/t gold equivalent from surface and including 23.0 metres @ 3.19 g/t gold equivalent (APC-120 drilled to the south from Pad 22). 73.75 metres @ 1.69 g/t gold equivalent from 7.25 metres downhole and including 19.85 metres @ 3.04 g/t gold equivalent (APC-116 drilled to the northwest from Pad 23). 72.85 metres @ 2.01 g/t gold equivalent from 15.0 metres downhole and 20.30 metres @ 2.61 g/t gold equivalent from 113.65 metres downhole (APC-118 drilled in a northeast direction from Pad 23). 68.30 metres @ 1.58 g/t gold equivalent from 42.50 metres and including 23.0 metres @ 3.31 g/t gold equivalent (APC-121 drilled in a northeast direction from Pad 23). Over two thirds of the 33-hole infill drill program have now been completed with assays still pending for eight holes. To date, drill intercepts from the shallow program have expanded the volume of the shallow mineralized area by approximately 5 percent. Once the shallow drilling infill program has been completed, the average drill hole spacing will be 35 metres from surface to a vertical depth of 150 metres. Table 1: Assays Results for Drill Holes APC-116, APC-118, APC-119, APC-120, APC-121 and APC-122 *AuEq (g/t) is calculated as follows: (Au (g/t) x 0.97) + (Ag (g/t) x 0.015 x 0.85) + (Cu (%) x 1.44 x 0.95) + (WO 3 (%) x 4.84 x 0.72) utilizing metal prices of Au – US$2,200/oz, Ag – US$33/oz, Cu – US$4.62/lb and WO 3 – US$15.51/lb and recovery rates of 97% for Au, 85% for Ag, 95% for Cu and 72% for WO 3. `1 Recovery rate assumptions for metals are based on metallurgical results announced on October 17, 2023, April 11, 2024, and October 3, 2024. True widths are between 60%-100% of the total length and grades are uncut. About Collective Mining Ltd. To see our latest corporate presentation and related information, please visit Founded by the team that developed and sold Continental Gold Inc. to Zijin Mining for approximately $2 billion in enterprise value, Collective is a gold, silver, copper and tungsten exploration company with projects in Caldas, Colombia. The Company has options to acquire 100% interests in two projects located directly within an established mining camp with ten fully permitted and operating mines. The Company's flagship project, Guayabales, is anchored by the Apollo system, which hosts the large-scale, bulk-tonnage and high-grade gold-silver-copper-tungsten Apollo system. The Company's objectives are to improve the overall grade of the Apollo system by systematically drill testing newly modeled potentially high-grade sub-zones, expand the Apollo system by stepping out along strike to the north and expanding the newly discovered high-grade Ramp Zone along strike and to depth and drill a series of less advanced or newly generated targets including Trap, the Knife and X. Additionally, the Company has launched its largest drilling campaign in history at the San Antonio Project as it hunts for a large bulk-tonnage porphyry system. Management, insiders, a strategic investor and close family and friends own 44.5% of the outstanding shares of the Company and as a result, are fully aligned with shareholders. The Company is listed on both the NYSE and TSX under the trading symbol "CNL". 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 Samples were cut by Company personnel at Collective Mining's core facility in Caldas, Colombia. Diamond drill core was sawed and then sampled in maximum 2 metres intervals, stopping at geological boundaries. Drill hole core diameter is a mix of PQ, HQ and NQ depending on the depth of the drill hole. Core samples have been prepared and analyzed at ALS 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. Information Contact: Follow Executive Chairman Ari Sussman (@Ariski73) on X Follow Collective Mining (@CollectiveMini1) on X, (Collective Mining) on LinkedIn, and (@collectivemining) on Instagram This news release contains "forward-looking statements" and "forward-looking information" within the meaning of applicable securities legislation (collectively, "forward-looking statements"). All statements, other than statements of historical fact, are forward-looking statements and are based on expectations, estimates and projections as at the date of this news release. Any statement that involves discussion with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions, future events or performance (often, but not always using phrases such as "plans", "expects", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates", or "believes" or variations (including negative variations) of such words and phrases, or state that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved) are not statements of historical fact and may be forward-looking statements. In this news release, forward-looking statements relate, among other things, to: the anticipated advancement of mineral properties or programs; future operations; future recovery metal recovery rates; future growth potential of Collective; and future development plans. These forward-looking statements, and any assumptions upon which they are based, are made in good faith and reflect our current judgment regarding future events including the direction of our business. Management believes that these assumptions are reasonable. Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Such factors include, among others: risks related to the speculative nature of the Company's business; the Company's formative stage of development; the Company's financial position; possible variations in mineralization, grade or recovery rates; actual results of current exploration activities; conclusions of future economic evaluations; fluctuations in general macroeconomic conditions; fluctuations in securities markets; fluctuations in spot and forward prices of gold, precious and base metals or certain other commodities; fluctuations in currency markets; change in national and local government, legislation, taxation, controls regulations and political or economic developments; risks and hazards associated with the business of mineral exploration, development and mining (including environmental hazards, industrial accidents, unusual or unexpected formation pressures, cave-ins and flooding); inability to obtain adequate insurance to cover risks and hazards; the presence of laws and regulations that may impose restrictions on mining; employee relations; relationships with and claims by local communities and indigenous populations; availability of increasing costs associated with mining inputs and labour; the speculative nature of mineral exploration and development (including the risks of obtaining necessary licenses, permits and approvals from government authorities); and title to properties, as well as those risk factors discussed or referred to in the annual information form of the Company dated March 24, 2025. Forward-looking statements contained herein are made as of the date of this news release and the Company disclaims any obligation to update any forward-looking statements, whether as a result of new information, future events or results, except as may be required by applicable securities laws. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements and there may be other factors that cause results not to be anticipated, estimated or intended. Accordingly, readers should not place undue reliance on forward-looking statements. SOURCE Collective Mining Ltd.
Cision Canada
24-06-2025
- Business
- Cision Canada
Collective Mining Discovers a New Copper-Silver Rich Sub-Zone in Apollo, Intersecting 114.40 metres at 4.14 g/t Gold Equivalent
A new high–grade sub-zone ("HZ2"), enriched in copper and silver, has been discovered in the Apollo system. HZ2, which remains open for expansion, is the second high-grade sub-zone found by the Company with assay results as follows: 114.40 metres @ 4.14 g/t AuEq (1.06 g/t Au, 150 g/t Ag and 0.64% Cu) including; 57.25 metres @ 5.64 g/t gold equivalent (1.22 g/t Au, 221 g/t Ag and 0.89% Cu) in APC107-D5. 159.05 metres @ 3.01 g/t AuEq (1.19 g/t Au, 98 g/t Ag and 0.43% Cu) including; 59.25 metres @ 5.01 g/t gold equivalent (1.63 g/t Au, 196 g/t Ag and 0.68% Cu) in APC107-D4. The original high-grade gold-rich sub-zone ("HZ1") first announced by the Company on December 16, 2024, has been extended 50 metres to the west by hole APC107-D2, which cut: 67.50 metres @ 5.38 g/t AuEq within 377.85 metres @ 2.13 g/t gold equivalent. HZ1 now has dimensions of 230 metres of strike, 70 metres in thickness and over 180 metres vertical and includes previously announced intercepts of 150.55 metres @ 6.16 g/t AuEq (APC104-D1) and 106.35 metres @ 9.05 g/t AuEq (APC104-D5) (see press releases dated December 16, 2024, and February 24, 2025). HZ1 remains open in most directions. A potential third high-grade sub-zone, which requires follow-up confirmation drilling, has been intersected northwest of HZ2 in drill hole APC107-D3 as follows: 123.75 metres @ 3.03 g/t AuEq (1.24 g/t Au, 91 g/t Ag and 0.43% Cu). The Company continues to target up to 11 potential high-grade sub-zones throughout the top 1,000 metres of the Apollo system with a goal of further improving the overall grade (and total mineral inventory). TORONTO, June 24, 2025 /CNW/ - Collective Mining Ltd. (NYSE: CNL) (TSX: CNL) ("Collective" or the "Company") is pleased to announce further assay results for five directional diamond drill holes from its ongoing drilling program designed to discover and outline high-grade sub-zones within the bulk tonnage Au-Ag-Cu-W Apollo system ("Apollo"). Apollo is the most advanced discovery made to date within the Company's multi-target, Guayabales Project in Caldas, Colombia. The Company currently has nine drill rigs operating as part of its fully funded 70,000 metre drill program for 2025 with seven rigs operating at the Guayabales Project and two rigs turning at the San Antonio Project. Two additional deep capacity rigs are being mobilized to the Guayabales Project to resume testing the high-grade Ramp Zone located at the bottom of the Apollo system in Q3, 2025. The 2025 objectives for the portion of the drilling program targeting the Apollo system are: Drill test newly modeled high-grade sub-zone targets scattered throughout the top 1,000 vertical metres from surface to improve the grade profile (and size) of the system. Grow the overall dimensions of the system by expanding vertically and laterally the recently discovered high-grade Ramp Zone and northern extension. Expand and define the area of outcropping/shallow mineralization and test many drilling gaps within the internal block model from surface to a depth of 150 metres. Approximately 125,500 metres of diamond drilling has been completed to date at the Guayabales Project, including 87,000 metres at Apollo. There are currently twenty-five drill holes in the lab with assay results for most of these holes expected in the near term. Ari Sussman, Executive Chairman commented: "Apollo continues to deliver in terms of size and grade. The discovery of HZ2 is pleasing as this zone is surprisingly rich in copper and silver over bulk tonnage drilled widths. If we continue to discovery new sub-zones of higher-grade mineralization within Apollo, the overall grade of the system will increase and will give us excellent mining flexibility to incorporate into future mine scenarios. The next few months are going to be exciting as we are on the cusp of accelerating our largest greenfield drilling program in the Company's history at the Guayabales and San Antonio projects. Up to four rigs will be drilling grassroot targets at Guayabales hunting for another Apollo system and up to an additional three rigs will be turning at San Antonio in search of a large bulk tonnage porphyry system. We believe there is another major discovery to be made between the two projects and our team is ready to deliver on this challenge." To watch a video of David Reading, Special Advisor to the Company and QP under NI43-101 explain today's results please click on the link here. Details (see Table 1 and Figures 1-4) A series of five directional drill holes, from new mother hole APC-107D (Pad17), continue to discover and outline high-grade sub-zones at shallow elevations in Apollo. New High-Grade Sub-Zone Discovery 2 ("HZ2") Holes APC107-D4 and APC107-D5 were drilled at the southern margin of the Apollo system and discovered a new high-grade sub-zone rich in copper and silver ("HZ2"). The following intercepts are highlighted for new high-grade sub-zone HZ2: APC107-D4 intercepted 159.05 metres @ 3.01 g/t gold equivalent (1.19 g/t gold, 98 g/t silver and 0.43% copper) from 48.50 metres including: 59.25 metres @ 5.01 g/t gold equivalent (1.63 g/t gold, 196 g/t silver and 0.68% copper) from 91.85 metres APC107-D5 intersected 114.40 metres @ 4.14 g/t gold equivalent (1.06 g/t gold, 150 g/t silver and 0.64% copper) from 172.95 metres including: 57.25 metres @ 5.64 g/t gold equivalent (1.22 g/t gold, 221 g/t silver and 0.89% copper) from 210.10 metres HZ2 is open to the northeast and vertically with further follow up drilling planned. High-Grade Sub-Zone 1 ("HZ1") Drill hole APC107-D2 has also extended the first discovered and primarily gold rich, high-grade sub-zone HZ1 by 50 metres to the west by intercepting: 67.50 metres @ 5.38 g/t gold equivalent within 377.85 metres @ 2.13 g/t gold equivalent (1.40 g/t gold, 37 g/t silver and 0.21% copper) HZ1 now has dimensions of 230 metres of strike, 70 metres in thickness and over 180 metres vertical and includes previously announced intercepts of 150.55 metres @ 6.16 g/t AuEq in APC104-D1 and 106.35 metres @ 9.05 g/t AuEq in APC104-D5 (press releases dated December 16, 2024, and February 24, 2025) Drillhole APC107-D3 was drilled westward and intersected a potential third, high-grade sub-zone, to the west of HZ2 by intercepting: 123.75 metres @ 3.03 g/t gold equivalent from 156.45 metres including: 20.20 metres @ 5.15 g/t gold equivalent from 181.00 metres and 18.55 metres @ 3.87 g/t gold equivalent from 236.50 metres 49.30 metres @ 2.23 g/t gold equivalent from 336.65 metres Follow up drilling is required to see if this potential new high-grade subzone extends to the north and vertically where it is open for expansion. Hole APC107-D1 was an infill hole into a gap in the block model and successfully intersected mineralization at a similar grade profile to the internal block model as follows: 353.50 metres @ 1.94 g/t gold equivalent from 61.60 metres including: 27.60 metres @ 3.01 g/t gold equivalent from 61.60 metres and 30.05 metres @ 2.98 g/t gold equivalent from 217.95 metres and 32.75 metres @ 2.20 g/t gold equivalent from 361.45 metres A significant backlog of drill holes are in the lab with results expected to be released consistently for the remainder of the year. Table 1: Assays Results for Drill Holes APC107-D1, APC107-D2, APC107-D3, APC107-D4 and APC107-D5 *AuEq (g/t) is calculated as follows: (Au (g/t) x 0.97) + (Ag (g/t) x 0.015 x 0.85) + (Cu (%) x 1.44 x 0.95) + (WO 3 (%) x 4.84 x 0.72) utilizing metal prices of Au – US$2,200/oz, Ag – US$33/oz, Cu – US$4.62/lb and WO 3 – US$15.51/lb and recovery rates of 97% for Au, 85% for Ag, 95% for Cu and 72% for WO 3. Recovery rate assumptions for metals are based on metallurgical results announced on October 17, 2023, April 11, 2024, and October 3, 2024. True widths are unknown, and grades are uncut. About Collective Mining Ltd. To see our latest corporate presentation and related information, please visit Founded by the team that developed and sold Continental Gold Inc. to Zijin Mining for approximately $2 billion in enterprise value, Collective is a gold, silver, copper and tungsten exploration company with projects in Caldas, Colombia. The Company has options to acquire 100% interests in two projects located directly within an established mining camp with ten fully permitted and operating mines. The Company's flagship project, Guayabales, is anchored by the Apollo system, which hosts the large-scale, bulk-tonnage and high-grade gold-silver-copper-tungsten Apollo system. The Company's objectives are to improve the overall grade of the Apollo system by systematically drill testing newly modeled potentially high-grade sub-zones, expand the Apollo system by stepping out along strike to the north and expanding the newly discovered high-grade Ramp Zone along strike and to depth, and drill a series of less advanced or newly generated targets including Trap, the Knife and X. Additionally, the Company has launched its largest drilling campaign in history at the San Antonio Project as it hunts for a large bulk-tonnage porphyry system. Management, insiders, a strategic investor and close family and friends own 44.5% of the outstanding shares of the Company and as a result, are fully aligned with shareholders. The Company is listed on both the NYSE and TSX under the trading symbol "CNL". 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 Samples were cut by Company personnel at Collective Mining's core facility in Caldas, Colombia. Diamond drill core was sawed and then sampled in maximum 2 metres intervals, stopping at geological boundaries. Drill hole core diameter is a mix of PQ, HQ and NQ depending on the depth of the drill hole. Core samples have been prepared and analyzed at ALS 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. Information Contact: Follow Executive Chairman Ari Sussman (@Ariski73) on X Follow Collective Mining (@CollectiveMini1) on X, (Collective Mining) on LinkedIn, and (@collectivemining) on Instagram FORWARD-LOOKING STATEMENTS This news release contains "forward-looking statements" and "forward-looking information" within the meaning of applicable securities legislation (collectively, "forward-looking statements"). All statements, other than statements of historical fact, are forward-looking statements and are based on expectations, estimates and projections as at the date of this news release. Any statement that involves discussion with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions, future events or performance (often, but not always using phrases such as "plans", "expects", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates", or "believes" or variations (including negative variations) of such words and phrases, or state that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved) are not statements of historical fact and may be forward-looking statements. In this news release, forward-looking statements relate, among other things, to: the anticipated advancement of mineral properties or programs; future operations; future recovery metal recovery rates; future growth potential of Collective; and future development plans. These forward-looking statements, and any assumptions upon which they are based, are made in good faith and reflect our current judgment regarding future events including the direction of our business. Management believes that these assumptions are reasonable. Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Such factors include, among others: risks related to the speculative nature of the Company's business; the Company's formative stage of development; the Company's financial position; possible variations in mineralization, grade or recovery rates; actual results of current exploration activities; conclusions of future economic evaluations; fluctuations in general macroeconomic conditions; fluctuations in securities markets; fluctuations in spot and forward prices of gold, precious and base metals or certain other commodities; fluctuations in currency markets; change in national and local government, legislation, taxation, controls regulations and political or economic developments; risks and hazards associated with the business of mineral exploration, development and mining (including environmental hazards, industrial accidents, unusual or unexpected formation pressures, cave-ins and flooding); inability to obtain adequate insurance to cover risks and hazards; the presence of laws and regulations that may impose restrictions on mining; employee relations; relationships with and claims by local communities and indigenous populations; availability of increasing costs associated with mining inputs and labour; the speculative nature of mineral exploration and development (including the risks of obtaining necessary licenses, permits and approvals from government authorities); and title to properties, as well as those risk factors discussed or referred to in the annual information form of the Company dated March 24, 2025. Forward-looking statements contained herein are made as of the date of this news release and the Company disclaims any obligation to update any forward-looking statements, whether as a result of new information, future events or results, except as may be required by applicable securities laws. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements and there may be other factors that cause results not to be anticipated, estimated or intended. Accordingly, readers should not place undue reliance on forward-looking statements.
Cision Canada
02-06-2025
- Business
- Cision Canada
Collective Mining Expands the Outcropping Portion of Apollo by Drilling High-Grade Tungsten, Copper, Gold and Silver Including 124 Metres at 3.03 g/t AuEq (0.66% WO3Eq) from Surface
High-grade tungsten, copper, silver and gold assay results have been received for the initial eight holes of a thirty-hole, shallow drilling program designed to outline, expand and design a future starter pit at the Apollo system. The Apollo system has been drilled over more than 1,200 metres vertically where it remains open for further expansion. The Apollo system can be separated vertically into four areas of metal zonation, with the top 150 metres from surface being a high-grade zone enriched in tungsten (scheelite), copper, gold and silver (see Figure 5). Four holes have cut near surface, tungsten dominant, high-grade mineralization with highlighted results as follows: 124 metres @ 3.03 g/t AuEq or 0.66% WO 3 Eq (0.55 g/t gold, 86 g/t silver, 0.63% copper, and 0.16% WO 3) from surface (APC-115). 91 metres @ 3.04 g/t AuEq or 0.66% WO 3 Eq (0.85 g/t gold, 48 g/t silver, 0.39% copper and 0.32% WO 3) from 56.15 metres depth and bottoming in high-grade mineralization (APC-110). The discovery of tungsten at Apollo is the first known hard-rock occurrence of this metal in the history of Colombia and is expected to be of strategic importance for the country. Given that the tungsten, hosted within easily recoverable scheelite, is located at the top of the Apollo system, it is expected to be extracted in the earliest portions of the mine-life as a by-product mineral to gold, silver and copper. Tungsten is a critical metal exempt from United States tariffs. Eighty per cent of the tungsten market is supplied by China and there is a looming 2027 deadline eliminating purchases by the United States military complex of tungsten produced or processed by China and Russia. Recently, the tungsten price has reached a twelve year high at approximately $14.75 per pound and is expected to remain buoyant over the foreseeable future (source: Reuters and TORONTO, June 2, 2025 /CNW/ - Collective Mining Ltd. (NYSE: CNL) (TSX: CNL) ("Collective" or the "Company") is pleased to announce initial assay results for its shallow drilling program at the Apollo system ("Apollo"). Assay results for the first eight drill holes designed to test for high-grade gold, silver, copper and tungsten mineralization starting from surface are summarized in this release. Apollo is the most advanced discovery made to date within the Company's multi-target, Guayabales Project in Caldas, Colombia. The Company currently has nine drill rigs operating as part of its fully funded 70,000-metre drill program for 2025 with seven rigs operating at the Guayabales Project and two rigs turning at the San Antonio Project. Two additional deep capacity rigs are being mobilized to the Guayabales Project to continue testing, at depth, the high-grade Ramp Zone located at the bottom of the Apollo system in early Q3, 2025. The 2025 objectives for the portion of the drilling program targeting the Apollo system are: Drill test newly modeled high-grade sub-zone targets scattered throughout the top 1,000 vertical metres from surface to improve the grade profile (and size) of the system. Grow the overall dimensions of the system by expanding vertically and laterally the recently discovered high-grade Ramp Zone and the northern extensions of Apollo. Expand and define the area of outcropping/shallow mineralization and test many drilling gaps within the internal block model from surface to a depth of 150 metres. Approximately 123,000 metres of diamond drilling has been completed to date at the Guayabales Project, including 85,000 metres at Apollo. There are currently twenty-three drill holes in the lab with pending assay results for most of these holes expected in the near term. Ari Sussman, Executive Chairman commented: "The occurrence of continuous high-grade tungsten alongside copper, gold and silver mineralization, beginning from surface and in the top portion of the Apollo system is a real bonus as this material will be extracted in the earlier years of a future mine and will contribute in placing Colombia on the map as an important critical mineral supplier in the Americas. The next few months at the Guayabales project are going to be exciting with new larger capacity rigs scheduled to arrive and begin aggressively expanding the high-grade Ramp Zone at depth in Apollo. Additionally, we recently completed our first new hole at the early-stage ME target and will soon start drilling two new grassroot targets named the Knife and X. Drilling with two rigs has also begun at the San Antonio project, where we look to vector towards a potential high-grade copper-gold porphyry core to the recently announced discovery." Details (see Table 1-2 and Figures 1-6) A shallow, 30-hole drilling program recently commenced at Apollo and is now over 50% complete. Results have been received from the first eight holes from three new drill pads (Pads 21, 22 and 23) and have intersected shallow, high-grade gold, tungsten, copper and silver mineralization down to a maximum drilled depth of 150 metres below surface. Importantly, continuous intervals of high-grade tungsten (scheelite) and copper (chalcopyrite) mineralization have been intercepted in both the breccia cement matrix and within individual veins for holes drilled into the shallow and outcropping, tungsten rich area of Apollo. Assay results targeting the tungsten rich area of the system are outlined below: 91.00 metres @ 3.04 g/t AuEq or 0.66% WO 3 Eq (0.85 g/t gold, 48 g/t silver, 0.39% copper and 0.32% WO 3) from 56.15 metres down hole and bottoming in high-grade mineralization (APC-110 drilled steeply in a southerly direction from Pad 21). 117.35 metres @ 2.07 g/t AuEq or 0.45% WO 3 Eq (1.18 g/t gold, 26 g/t silver, 0.22% copper and 0.09% WO 3) from 14.25 metres down hole (APC-111 drilled to the southeast from Pad 21) including: 28.15 metres @ 4.89 g/t AuEq or 1.06% WO 3 Eq from 80.70 metres down hole. 99.00 metres @ 1.43 g/t AuEq or 0.31% WO 3 Eq from 6.00 metres down hole (APC-113 drilled to the southeast from Pad 22) including: 18.40 metres @ 2.66 g/t gold equivalent from 6.00 metres. 124.00 metres @ 3.03 g/t AuEq or 0.66% WO 3 Eq (0.55 g/t gold, 86 g/t silver, 0.63% copper and 0.16% WO 3) from surface (APC-115 drilled to the southwest from Pad 22). An additional four holes targeted areas outside of the tungsten rich portion of the upper Apollo system with one of the holes expanding the previously known boundaries of the system to the east, two holes intersecting high-grade mineralization in gaps within the block model and a final exploratory hole failing to encounter any meaningful mineralization. Highlight results of these holes are as follows: APC-108 was drilled to the ESE from Pad 21 and successfully expanded the shallow boundary of the system in this direction: 48.00 metres @ 0.86 g/t AuEq from 65.75 metres including: 16.95 metres @ 1.49 g/t AuEq 96.80 metres. APC-114 was drilled to the west from Pad 23 and cut high-grade gold and copper mineralization just below surface with the following assays: 133.10 metres @ 2.68 g/t AuEq (1.54 g/t gold, 27 g/t silver, 0.54% copper and 0.03% WO 3) from 25.90 metres including: 60.35 metres @ 3.55 g/t AuEq from 71.80 metres. Numerous additional shallow drill holes are currently being assayed with additional results expected in the near term. Table 1: Assays Results for Drill Holes APC-110, APC-111, APC-113 and APC-115 Drilled into the Shallow and High-Grade Tungsten Rich Zone *WO 3 Eq% is calculated as follows: (WO 3 (%) x 0.72) + (Au (g/t) x 0.22 x 0.97) + (Ag (g/t) x 0.003 x 0.85) + (Cu (%) x 0.31 x 0.95) utilizing metal prices of WO 3 – US$14.75/lb, Au – US$2,200/oz, Ag – US$33/oz and Cu – US$4.62/lb and recovery rates of 72% for WO 3, 97% for Au, 85% for Ag and 95% for Cu. **AuEq (g/t) is calculated as follows: (Au (g/t) x 0.97) + (Ag (g/t) x 0.015 x 0.85) + (Cu (%) x 1.44 x 0.95) + (WO 3 (%) x 4.60 x 0.72) utilizing metal prices of Au – US$2,200/oz, Ag – US$33/oz, Cu – US$4.62/lb and WO 3 – US$14.75/lb and recovery rates of 97% for Au, 85% for Ag, 95% for Cu and 72% for WO 3. Recovery rate assumptions for metals are based on metallurgical results announced on October 17, 2023, April 11, 2024, and October 3, 2024. True widths are unknown and grades are uncut. Table 2: Assays Results for Drill Holes APC-108, APC-109, APC-112 and APC-114 Drilled into the Shallow High-Grade Mineralization **AuEq (g/t) is calculated as follows: (Au (g/t) x 0.97) + (Ag (g/t) x 0.015 x 0.85) + (Cu (%) x 1.44 x 0.95) + (WO 3 (%) x 4.60 x 0.72) utilizing metal prices of Au – US$2,200/oz, Ag – US$33/oz, Cu – US$4.62/lb and WO 3 – US$14.75/lb and recovery rates of 97% for Au, 85% for Ag, 95% for Cu and 72% for WO 3. Recovery rate assumptions for metals are based on metallurgical results announced on October 17, 2023, April 11, 2024, and October 3, 2024. True widths are unknown and grades are uncut. About Collective Mining Ltd. To see our latest corporate presentation and related information, please visit Founded by the team that developed and sold Continental Gold Inc. to Zijin Mining for approximately $2 billion in enterprise value, Collective is a gold, silver, copper and tungsten exploration company with projects in Caldas, Colombia. The Company has options to acquire 100% interests in two projects located directly within an established mining camp with ten fully permitted and operating mines. The Company's flagship project, Guayabales, is anchored by the Apollo system, which hosts the large-scale, bulk-tonnage and high-grade gold-silver-copper-tungsten Apollo system. The Company's objectives are to improve the overall grade of the Apollo system by systematically drill testing newly modeled potentially high-grade sub-zones, expand the Apollo system by stepping out along strike to the north and expanding the newly discovered high-grade Ramp Zone along strike and to depth, and drill a series of less advanced or newly generated targets including Trap, the Knife and X. Management, insiders, a strategic investor and close family and friends own 44.5% of the outstanding shares of the Company and as a result, are fully aligned with shareholders. The Company is listed on both the NYSE American and TSX under the trading symbol "CNL". 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 Samples were cut by Company personnel at Collective Mining's core facility in Caldas, Colombia. Diamond drill core was sawed and then sampled in maximum 2 metres intervals, stopping at geological boundaries. Drill hole core diameter is a mix of PQ, HQ and NQ depending on the depth of the drill hole. Core samples have been prepared and analyzed at ALS 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. Information Contact: Follow Executive Chairman Ari Sussman (@Ariski73) on X Follow Collective Mining (@CollectiveMini1) on X, (Collective Mining) on LinkedIn, and (@collectivemining) on Instagram FORWARD-LOOKING STATEMENTS This news release contains "forward-looking statements" and "forward-looking information" within the meaning of applicable securities legislation (collectively, "forward-looking statements"). All statements, other than statements of historical fact, are forward-looking statements and are based on expectations, estimates and projections as at the date of this news release. Any statement that involves discussion with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions, future events or performance (often, but not always using phrases such as "plans", "expects", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates", or "believes" or variations (including negative variations) of such words and phrases, or state that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved) are not statements of historical fact and may be forward-looking statements. In this news release, forward-looking statements relate, among other things, to: the anticipated advancement of mineral properties or programs; future operations; future recovery metal recovery rates; future growth potential of Collective; and future development plans. These forward-looking statements, and any assumptions upon which they are based, are made in good faith and reflect our current judgment regarding future events including the direction of our business. Management believes that these assumptions are reasonable. Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Such factors include, among others: risks related to the speculative nature of the Company's business; the Company's formative stage of development; the Company's financial position; possible variations in mineralization, grade or recovery rates; actual results of current exploration activities; conclusions of future economic evaluations; fluctuations in general macroeconomic conditions; fluctuations in securities markets; fluctuations in spot and forward prices of gold, precious and base metals or certain other commodities; fluctuations in currency markets; change in national and local government, legislation, taxation, controls regulations and political or economic developments; risks and hazards associated with the business of mineral exploration, development and mining (including environmental hazards, industrial accidents, unusual or unexpected formation pressures, cave-ins and flooding); inability to obtain adequate insurance to cover risks and hazards; the presence of laws and regulations that may impose restrictions on mining; employee relations; relationships with and claims by local communities and indigenous populations; availability of increasing costs associated with mining inputs and labour; the speculative nature of mineral exploration and development (including the risks of obtaining necessary licenses, permits and approvals from government authorities); and title to properties, as well as those risk factors discussed or referred to in the annual information form of the Company dated March 24, 2025. Forward-looking statements contained herein are made as of the date of this news release and the Company disclaims any obligation to update any forward-looking statements, whether as a result of new information, future events or results, except as may be required by applicable securities laws. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements and there may be other factors that cause results not to be anticipated, estimated or intended. Accordingly, readers should not place undue reliance on forward-looking statements.
Cision Canada
05-05-2025
- Business
- Cision Canada
Collective Mining Discovers a Gold-Copper Porphyry System at the San Antonio Project by Intersecting 290.20 Metres at 0.58 g/t Gold, 0.17% Copper, 3 g/t Silver and 70 ppm Molybdenum
Drill hole SAC-11, directed to test the northern portion of the Pound target, discovered a gold and copper porphyry vein stockwork system intruding metagabbro country rock with assay results as follows: 290.20 metres @ 0.84 g/t gold equivalent (0.58 g/t Au, 0.17% Cu, 3 g/t Ag, 70 ppm Mo) which includes higher density mineralized zones of: 40.90 metres @ 1.44 g/t gold equivalent (1.02 g/t Au, 0.30% Cu, 4 g/t Ag, 100 ppm Mo) and 31.20 metres @ 1.23 g/t gold equivalent (0.76 g/t Au, 0.27% Cu, 5 g/t Ag, 200 ppm Mo) Given the high density of porphyry stockwork veins hosted within the metagabbro country rocks, the Company's Special Advisor and well-known porphyry expert Richard Tosdal believes a potential mineralized copper-gold porphyry system could be located proximal to the SAC-11 drill intercept. Two drill rigs are currently being mobilized to the Pound target to immediately begin following up on the discovery hole. The San Antonio project hosts a well-defined, 2.5-kilometer-long mineralized corridor hosting four drill-ready porphyry targets (including the Pound target). Given the early success at the Pound target, the Company will be aggressive with drilling at San Antonio over the balance of the year with a goal of drill testing each of these targets. The higher-grade zones of gold and copper in SAC-11 correlate well with a higher density of quartz and chalcopyrite veining suggesting that the porphyry source may in turn be high-grade. TORONTO, May 5, 2025 /CNW/ - Collective Mining Ltd. (NYSE: CNL) (TSX: CNL) ("Collective" or the "Company") is pleased to announce that drilling assay results at the San Antonio Project's Pound target ("Pound") has resulted in the discovery of a mineralized Au-Ag-Cu-Mo porphyry system. Additionally, the final assay results from the 2024 drill program at the Trap target (Guayabales Project) are reported below. Both the San Antonio and Guayabales projects are situated near to each other and to the famous multi-million-ounce Marmato Mine within the Caldas Department in Colombia. The Company currently has nine drill rigs operating as part of its fully funded 70,000-metre drill program for 2025 with two rigs at the San Antonio Project and seven rigs at the Guayabales Project. Two additional deep capacity rigs are being mobilized to the Guayabales Project and will begin testing the high-grade Ramp Zone located at the bottom of the Apollo system in early Q3, 2025. Ari Sussman, Executive Chairman commented: "Detailed surface prospecting and drilling at the San Antonio Project have substantially elevated the potential of the project to host a copper-gold rich porphyry system. Now is the time to become aggressive with drilling as our technical team believes that the SAC-11 hole at the Pound target is close to the porphyry source. With two rigs soon to be operating at Pound, we will look to vector to this source and with some luck, we will find a high-grade porphyry system. It is worth mentioning that the San Antonio Project enjoys excellent infrastructure as it is located directly beside the Pan American highway and hydro-power lines." To watch a video of David Reading, Special Advisor to the Company and QP under NI 43-101, and Richard Tosdal, Special Advisor and well-known porphyry expert, explaining today's results, please click the link here. Details (see Table 1 and Figures 1-4) San Antonio Project: Pound Target The Pound target is defined by surface soil and rock anomalies for gold and copper covering an area of 650 metres x 550 metres and remains open for further expansion. Previous drilling in 2021 at the Pound Target encountered primarily a gold-bearing breccia with both holes ending in mineralization. Assays returned continuous intervals beginning at surface of 710 metres at 0.53 g/t gold equivalent (SAC-8) and 750 metres at 0.41 g/t gold equivalent (SAC-6) (see press release dated October 27, 2021). Extensive surface work was carried out in 2024 outlining the porphyry potential of the target area enabling the Company to advance with drilling in Q1 2025. SAC-11 was drilled steeply from Pad 6 to the northwest with the aim of testing the potential for a copper-gold porphyry system at depth. The hole intersected at shallow depths porphyry related peripheral gold rich mineralized zones (typical porphyry halo mineralization) before cutting 290 metres of gold-copper rich porphyry vein stockwork mineralization hosted within metagabbro country rocks. The latter intercept includes quartz veins hosting chalcopyrite, pyrite, molybdenite and magnetite which are associated with potassic alteration. Zones of higher-grade gold and copper are associated with areas of higher vein density interpreted to be proximal to a high grade porphyry centre. The hole was terminated prematurely while still in mineralization due to the capacity of the rig. The following assays are highlighted: 290.20 metres @ 0.84 g/t gold equivalent (0.58 g/t gold, 0.17% copper, 3 g/t silver and 70 ppm molybdenum), from 549.00 metres downhole and including: 40.90 metres @ 1.44 g/t gold equivalent (1.02 g/t gold, 0.30% copper, 4 g/t silver and 100 ppm molybdenum), from 650.00 metres and including; 31.20 metres @ 1.23 g/t gold equivalent (0.76 g/t gold, 0.27% copper, 5 g/t silver and 200 ppm molybdenum), from 749.25 metres Two larger capacity diamond drill rigs have been contracted with the first rig initiating drilling this week and the second rig expected to begin operating in approximately three weeks. SAC-10 was drilled from Pad 5 to the northeast and cut peripheral and lower grade gold mineralization in metagabbro country rock associated with disseminated pyrite and sericite alteration, which forms the outer halo to a porphyry system. The following assay results are highlighted: 353.85 metres @ 0.51 g/t gold equivalent (0.40 g/t Au, 0.04% Cu, 8 g/t Ag, 10 ppm Mo) from 389.60 metres including: 77.05 metres @ 1.01 g/t gold equivalent (0.70 g/t Au, 0.03% Cu, 27 g/t Ag, 20 ppm Mo) from 389.60 metres San Antonio Project: Other Drill Ready Targets The Pound target is located within a well-defined 2.5 -kilometer mineralized gold and copper corridor hosting four drill ready porphyry targets (Pound, Real, COP, and Euro). The Company plans to drill test each of these targets in 2025. The Real target is located 400 metres to the northwest of Pound and is characterized by multiple gold and copper mineralized porphyry clasts hosted within breccia bodies. The Euro target is located one kilometer south of Pound and is defined by a coherent and coincident soil anomalies for gold (> 0.3 ppm), copper (> 100 ppm) and molybdenum (> 20 ppm). The anomalous area hosts zones of porphyry quartz and sulphide veinlets associated with strong sericitic alteration which suggest the upper and/or peripheral portion of a porphyry system has been discovered. Table 1: Assays Results for Drill Holes SAC-10 and SAC-11 *AuEq (g/t) is calculated as follows: (Au (g/t) x 0.85) + (Ag (g/t) x 0.016 x 0.85) + (Cu (%) x 1.71 x 0.90) + (Mo (%) x 6.86 x 0.70) utilizing metal prices of Ag – US$32/oz, Cu – US$5.0/lb, Mo – US$20/lb and Au – US$2,000/oz and recovery rates of 85% for Au, 85% for Ag, 90% for Cu and 70% for Mo. Recovery rate assumptions are speculative as limited metallurgical work has been completed to date but is based on other comparable deposits in neighboring South American countries. True widths are unknown, and grades are uncut. Trap Target (See Table 2 and Figure 4) Two deep holes, TRC-32 and TRC-33, were designed to extend the vertical dimension of the northern end of the Trap Main Zone and intersected polymetallic vein zones located below (outside) the main plunging Trap Mineralized zone of broader mineralization. Another drillhole, TRC-31 was designed to explore and area outside the Trap Main zone but failed to intersect any mineralization. The next phase of the drilling program will begin in H2 2025, and will look to expand the system to the northwest along strike of hole TRC-30, which yielded 40.50 metres @ 4.01 g/t AuEq within 200.85 metres @ 1.06 g/t AuEq (see press release dated January 9, 2025), where two styles of mineralization were identified, including early-stage porphyry D-veins overprinted by a late-stage polymetallic veins system. Table 2: Assays Results for Drill Holes TRC-32 and TRC-33 *AuEq (g/t) is calculated as follows: (Au (g/t) x 0.97) + (Ag (g/t) x 0.015 x 0.85) + (Zn (%) x 0.43 x 0.85) + (Pb (%) x 0.38 x 0.85) + (Cu (%) x 1.44 x 0.95) utilizing metal prices of Ag – US$30/oz, Zn – US$1.25/lb, Pb - US$1.10/lb, Cu – US$4.2/lb and Au – US$2,000/oz and recovery rates of 97% for Au, 85% for Ag, 95% for Cu, 85% for Zn and 85% for Pb. Recovery rate assumptions for metals are based on metallurgical results announced on October 17, 2023, April 11, 2024, and October 3, 2024. The recovery rate assumption for zinc and lead is speculative as limited metallurgical work has been completed to date. True widths are unknown, and grades are uncut. About Collective Mining Ltd. To see our latest corporate presentation and related information, please visit Founded by the team that developed and sold Continental Gold Inc. to Zijin Mining for approximately $2 billion in enterprise value, Collective is a gold, silver, copper and tungsten exploration company with projects in Caldas, Colombia. The Company has options to acquire 100% interests in two projects located directly within an established mining camp with ten fully permitted and operating mines. The San Antonio project is located 4 kilometers east of the Guayabales Project which is anchored by the Apollo system and hosts the large-scale, bulk-tonnage and high-grade gold-silver-copper-tungsten system. Management, insiders, a strategic investor and close family and friends own 44.5% of the outstanding shares of the Company and as a result, are fully aligned with shareholders. The Company is listed on both the NYSE and TSX under the trading symbol "CNL". 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, soils and core samples from the San Antonio Project have been prepared and analyzed at SGS laboratory facilities in Medellin, Colombia and Lima, Peru; and at Actlabs laboratory facilities in Medellin, Colombia and Toronto, Canada. 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. Information Contact: Follow Collective Mining (@CollectiveMini1) on X, (Collective Mining) on LinkedIn, and (@collectivemining) on Instagram FORWARD-LOOKING STATEMENTS This news release contains "forward-looking statements" and "forward-looking information" within the meaning of applicable securities legislation (collectively, "forward-looking statements"). All statements, other than statements of historical fact, are forward-looking statements and are based on expectations, estimates and projections as at the date of this news release. Any statement that involves discussion with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions, future events or performance (often, but not always using phrases such as "plans", "expects", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates", or "believes" or variations (including negative variations) of such words and phrases, or state that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved) are not statements of historical fact and may be forward-looking statements. In this news release, forward-looking statements relate, among other things, to: the anticipated advancement of mineral properties or programs; future operations; future recovery metal recovery rates; future growth potential of Collective; and future development plans. These forward-looking statements, and any assumptions upon which they are based, are made in good faith and reflect our current judgment regarding future events including the direction of our business. Management believes that these assumptions are reasonable. Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Such factors include, among others: risks related to the speculative nature of the Company's business; the Company's formative stage of development; the Company's financial position; possible variations in mineralization, grade or recovery rates; actual results of current exploration activities; conclusions of future economic evaluations; fluctuations in general macroeconomic conditions; fluctuations in securities markets; fluctuations in spot and forward prices of gold, precious and base metals or certain other commodities; fluctuations in currency markets; change in national and local government, legislation, taxation, controls regulations and political or economic developments; risks and hazards associated with the business of mineral exploration, development and mining (including environmental hazards, industrial accidents, unusual or unexpected formation pressures, cave-ins and flooding); inability to obtain adequate insurance to cover risks and hazards; the presence of laws and regulations that may impose restrictions on mining; employee relations; relationships with and claims by local communities and indigenous populations; availability of increasing costs associated with mining inputs and labour; the speculative nature of mineral exploration and development (including the risks of obtaining necessary licenses, permits and approvals from government authorities); and title to properties, as well as those risk factors discussed or referred to in the annual information form of the Company dated March 24, 2025. Forward-looking statements contained herein are made as of the date of this news release and the Company disclaims any obligation to update any forward-looking statements, whether as a result of new information, future events or results, except as may be required by applicable securities laws. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements and there may be other factors that cause results not to be anticipated, estimated or intended. Accordingly, readers should not place undue reliance on forward-looking statements. SOURCE Collective Mining Ltd.
