Collective Mining Enhances Gold Discovery with New Drilling
Collective Mining Reports Encouraging Drilling Results
Collective Mining Ltd. (NYSE: CNL) has made considerable advancements in its ongoing drilling program at the Apollo system. Recent assay results from five diamond drill holes highlight exceptional gold, silver, copper, and tungsten mineralization detected at shallow depths. The standout result includes a substantial interval of 442.35 metres boasting an impressive gold equivalent grade of 2.16 g/t, showcasing the promising nature of the project and the potential for future exploration.
Significant Findings
The five drill holes were strategically designed to enhance the understanding of the Apollo system and expand the existing near-surface mineralization zone. Noteworthy findings from the recent drilling include:
- 442.35 metres @ 2.16 g/t gold equivalent from surface (APC-125), containing 68.05 metres @ 4.55 g/t gold equivalent, indicating that the hole continued to reveal strong mineralization.
- 325.10 metres @ 2.03 g/t gold equivalent from eight metres below surface (APC-126), further confirming the presence of significant mineralization.
These results not only validate the exploration strategy but also enhance the confidence in the mineral block model, as the first hole has successfully extended mineralization to surface.
Expansion Plans and Objectives
The company is committed to an extensive 70,000 metre drill program for 2025, operating ten drill rigs across its projects, with a focus on the Guayabales Project and the San Antonio Project. The primary objectives include delineating shallow mineralization, identifying new high-grade sub-zones, and expanding the high-grade Ramp Zone at depth.
Furthermore, exploration efforts are set to include testing several gravity targets, which have shown potential for hosting additional mineralization similar to Apollo. The active deep drilling with large capacity rigs has already yielded visual indications of Ramp Zone type mineralization, reinforcing the belief in the project's continued potential.
Encouraging Metrics from the Guayabales Project
To date, approximately 131,500 metres of diamond drilling have been completed at the Guayabales Project, with 92,000 metres specifically at Apollo. As of now, there are 31 drill holes awaiting assay results, further ensuring that the project landscape remains dynamic and progressively improving.
Future Development and Discoveries
Company executives express optimism, noting that shallow drilling has continuously exceeded expectations, enhancing both the volume of mineralization and model confidence. The focus will now also expand to the ME, Knife, and X gravity targets, with plans to initiate drilling at the Apollo South target, potentially leading to significant discoveries in the near future.
Exploration Strategies and Drilling Depths
As for the ongoing drilling initiatives, roughly 70% of the targeted shallow drilling at Apollo has completed, with ongoing efforts still pending on five additional holes. The current drill spacing is aimed to facilitate better resource modeling, ensuring that the average hole spacing remains optimized for mineral discovery.
About Collective Mining Ltd.
Founded by the same team responsible for the successful sale of Continental Gold Inc., Collective Mining is focused on gold, silver, copper, and tungsten exploration in Colombia. The Company's flagship project, Guayabales, features the Apollo system, known for its large-scale, high-grade deposits. The strategic aim remains to enhance the overall grade of the Apollo system and expand upon the high-grade Ramp Zone.
Management's commitment to the shareholding structure ensures alignment with shareholder interests, with insiders owning 44.5% of the company's shares. Collective Mining (NYSE: CNL) actively works to drive growth and maximize the value of its projects.
Frequently Asked Questions
What is the significance of the recent drilling results?
The recent results from the Apollo system show high-grade mineralization that exceeds expectations, indicating a successful exploration strategy.
What are the main objectives of the Guayabales Project?
The main objectives include expanding and identifying high-grade mineralization zones, targeting the Ramp Zone, and exploring gravity targets nearby.
How much drilling has been achieved to date?
Approximately 131,500 metres of diamond drilling has been completed, with 92,000 metres focused specifically on the Apollo project.
Who is guiding the exploration efforts at Collective Mining?
The exploration efforts are led by a dedicated team including experienced executives with backgrounds in successful mining operations.
How is Collective Mining positioned within the industry?
Collective Mining is strategically positioned with significant insider ownership and robust exploration programs aimed at maximizing its resource potential in Colombia.
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