Collective Mining Unveils Blackjack Discovery with High Gold Grades
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Collective Mining Expands Trap Target with New Blackjack Zone
Collective Mining Ltd. (NYSE: CNL), a dynamic exploration company, has recently achieved significant progress in its Guayabales Project. The company announced remarkable assay results from its drilling at the Trap Target. This development highlights the continuous expansion of the Trap system and introduces an exciting new zone dubbed 'Blackjack'.
Exciting Results at Blackjack
During the latest drilling campaign, Collective Mining discovered the Blackjack Zone—a near-surface, high-grade mineralization zone intersected in the drill hole TRC-14. This zone offers an impressive grade of 4.96 g/t gold equivalent over 30 metres, commencing from 11.85 metres downhole, establishing it as a noteworthy addition to the Trap region. The company's exploration strategy is yielding promising signs of extensive mineralization in this area.
Expansion of the Trap Main Zone
Further developments from the drilling at Trap have revealed that the strike length of the Trap Main Zone has doubled, extending now to a total of 700 metres. Within this zone, two broad mineralized pathways exist: the Trap Main Zone (TMZ) and the newly identified Blackjack Zone. The TMZ has demonstrated significant intercepts down to 915 metres below the surface and remains open in every direction for considerable expansion opportunities.
Robust Drilling Strategy for Future Discoveries
Currently, Collective Mining operates five diamond drill rigs in the Guayabales Project as part of a fully funded 40,000-metre drilling program for the year. Two drill rigs are set at Trap, emphasizing the company's commitment to aggressive exploration efforts. The strategic placement of newly constructed drill pads along the southeast strike aims to target key areas where the Blackjack and Trap Main Zones converge, which could potentially lead to further discoveries.
Expectations for Future Drilling Outcomes
The company's management remains optimistic about expanding the potential of both the Trap Main Zone and Blackjack with their ongoing drilling efforts. Outcomes from additional drilling at TPad5 and TPad6 will be keenly anticipated, with expectations of cutting through the high-grade zones revealed in TRC-14.
Results Influencing Future Exploration
Collective Mining's accolades also include noteworthy assay results from holes TRC-12 and TRC-14, demonstrating robust mineralization in the TMZ. Collectively, these results paint a promising picture of the ongoing exploration and mineral discovery processes within the Guayabales Project.
About Collective Mining Ltd.
Founded by a team that successfully developed and sold Continental Gold Inc., Collective Mining Ltd. focuses on copper, silver, gold, and tungsten exploration within strategic projects in Colombia. The company operates with nearly 50% of outstanding shares owned by management, insiders, and strategic investors, ensuring alignment with shareholder interests. The flagship project, Guayabales, holds substantial mineral potential, with ambitious plans for expansion and discovery set for the upcoming year.
Technical Information
Rock, soil, and core samples are meticulously analyzed at ALS laboratory facilities in Medellin, ensuring strict adherence to quality assurance protocols and industry-standard practices.
Frequently Asked Questions
What is the significance of the Blackjack discovery?
The Blackjack discovery represents a new high-grade zone near the surface, potentially enhancing the overall mineral resource of the Guayabales Project.
How does the Trap Main Zone's extension impact the company?
Doubling the strike length of the Trap Main Zone to 700 metres opens up opportunities for further mineralization and exploration, increasing the project's potential value.
What is the future drilling plan for Collective Mining?
Collective Mining plans to continue its aggressive drilling with additional rigs and strategic pads to explore and expand on the discovered zones.
Who are the key stakeholders in Collective Mining?
Management, insiders, and a strategic investor own nearly 50% of the total shares, aligning their interests closely with those of shareholders.
How is Collective Mining ensuring quality in its assays?
The company utilizes stringent quality assurance practices, including inserting blanks, duplicates, and certified standards to ensure accurate laboratory performance.
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