Collective Mining Discovers New Blackjack Zone with Drill Success
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Collective Mining Uncovers Exciting Discoveries in Recent Drilling
Collective Mining Ltd. (CNL) has recently made significant progress at its Trap Target, which has expanded an impressive 350 metres along strike. This development is part of the company's ongoing exploration efforts at its Guayabales Project. The recent drilling campaign has revealed some promising results, particularly from the newly discovered Blackjack Zone, which has been identified as a notable high-grade area of mineralization.
About the Trap Target Exploration
With five diamond drill rigs currently operational, Collective Mining is fully committed to a comprehensive 40,000 metre drill program. Notably, two drills have been deployed specifically at the Trap Target, while others explore the Apollo system and Plutus Target. The initial discovery of Trap was announced earlier this year, and since then, the footprint of the mineralized system has been rapidly increasing.
The Exciting New Blackjack Zone
The Blackjack Zone was recently discovered in hole TRC-14, representing a significant find in the area. This high-grade zone exhibits characteristics similar to those of the Trap Main Zone (TMZ), with broad mineralization housing overprinting sets of carbonate and quartz base metal veins. The standout assay from this drilling includes an incredible 30 metres at 4.96 grams per tonne gold equivalent from just 11.85 metres down the hole.
Ongoing Drilling Efforts
In addition to the successes achieved thus far at Blackjack, holes drilled from TPad4 and TPad5 have visually indicated potential intersections with this new zone. Collectively, these drilling efforts have not only extended the main Trap structure by another 350 metres but have also showcased the continuous nature of these mineralized zones.
Significant Assay Results
The assay results speak volumes about the potential of the Trap and Blackjack zones. Hole TRC-12 revealed 87.60 metres at 1.57 g/t gold equivalent from a depth of 376.90 metres. Additionally, hole TRC-14 reported 34.45 metres at 1.44 g/t gold equivalent from 403.40 metres, including a remarkable 4.25 metres at 6.35 g/t gold equivalent. These impressive results underscore the rich potential still remaining within the area.
Future Plans and Strategic Directions
Collective Mining intends to maintain its aggressive approach, with two new drill pads already established to explore further. With TPad5 and TPad6 located 250 and 700 metres southeast of TPad4, respectively, the company hopes to uncover even more resources. The focus remains on the continued expansion of both the Trap Main Zone and the newly identified Blackjack Zone.
Company Overview
Founded by the team responsible for developing and selling Continental Gold Inc., Collective Mining aims to maximize value through its rich portfolio of projects concentrated in Colombia. Holding 100% interests in strategic locations near existing operational mining camps, the company is well-positioned to leverage ongoing exploration and expansion activities.
Frequently Asked Questions
What is the significance of the Blackjack Zone?
The Blackjack Zone represents a high-grade area of mineralization discovered through recent drilling, showcasing significant potential alongside the Trap Main Zone.
How many drill rigs does Collective Mining have operational?
Collective Mining currently operates five diamond drill rigs as part of its extensive exploration program.
What are some of the notable assay results from the drilling?
Notable assay results include 30 metres at 4.96 g/t gold equivalent from the Blackjack Zone and significant results from the Trap zone, like 87.60 metres at 1.57 g/t gold equivalent.
Where is the Guayabales Project located?
The Guayabales Project is situated in an established mining camp in Colombia, where Collective Mining has acquired two projects.
Who are the key executives at Collective Mining?
Ari Sussman serves as the Executive Chairman, and the management team is aligned with shareholders through significant ownership in the company.
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