Collective Mining Ltd. (TSXV: CNL) (OTCQX: CNLMF)
(“Collective” or the “Company”) is pleased to announce that visual
observations from outcrop mapping and shallow diamond drill hole
APC-14, confirm that the Main Breccia discovery at the Apollo
target (“Apollo”) daylights at surface over significant areas
located to the north and east of drill pad 3 in the southern part
of the discovery. Apollo is one of eight grassroot generated
porphyry related targets at the Guayabales project, located in
Caldas, Colombia. The Main Breccia discovery at Apollo is a
high-grade, bulk tonnage copper-gold-silver porphyry-related
breccia target with previously announced intercepts including hole
APC-2, which intersected 207.15 metres @ 2.68 g/t
AuEq and
APC-8, which intersected 265.75 metres @
2.44 g/t gold equivalent (See press releases dated August
10th and September 13th respectively). As part of its fully funded
20,000+ metre drill program for 2022, there are currently three
diamond drill rigs operating at the Apollo target.
“Confirmation that the Main Breccia discovery at
Apollo extends to surface enhances future possibilities for the
project. Additionally, the fact that we see a noticeable increase
in chalcopyrite near surface in the southern part of the Main
Breccia discovery has our team excited that the porphyry source is
nearby and is likely located beneath the robust, yet untested
high-grade copper-in-soil anomaly located due south of drill pad 3.
As a result, our team is busy planning exploration drill holes to
test for the porphyry source with additional details to be provided
shortly,” commented Ari Sussman, Executive Chairman.
Details (See Figures 1 to
3)
The Company recently completed geological
mapping of new outcrop exposure created by tracks designed to
service the drill rig at Pad 3 at Apollo. This work has confirmed
exposure of mineralized angular breccia at surface as part of the
Main Breccia discovery first announced by the Company on June 22,
2022. Logging visuals from recently completed diamond hole APC-14,
which was drilled beneath a portion of the northern outcrop area,
intersected mineralized angular breccia commencing at 50 metres
vertically below surface. The following observations are
highlighted:
-
During the last two weeks the surface exploration team has
identified various outcrops with mineralized angular breccia
locating north of Pad 3. Geological observations in all outcrop
areas highlight mineralized angular breccia with iron oxides and
sulfides within the matrix between the clasts with a partial
overprint of sericite alteration. Two historical samples taken from
a very limited exposure of breccia outcrop within this area
returned 0.6 g/t gold,18 g/t silver and 0.1% copper and 4.1 g/t
gold and 29.3 g/t silver respectively. The recently excavated
surface exposures have been systematically sampled and assay
results are pending.
- Visual observations from a recently
completed diamond hole, APC-14, drilled to the north from Pad 3 and
directly underneath a portion of the northern outcrop area,
highlighted the presence of angular breccia hosting pyrite and
significant chalcopyrite mineralization in disseminations and as
replacement within the breccia matrix. This hole intercepted
mineralized breccia from approximately 84 metres downhole (50
metres vertical) down to 132 metres with a second zone commencing
at 197 metres and finishing at approximately 391 metres downhole.
Assay results for this and other holes are expected in the near
term.
- The Apollo
target area, as defined to date by limited surface outcrops, rock
sampling of CBM veins and available breccia exposures plus copper
and molybdenum soil geochemistry, covers an 800-meter X 700-meter
area. This Apollo target area hosts the Company’s new grassroots
Main Breccia discovery which, based on recent drill results,
measures up to 385 metres in strike length by 100 metres in width
and 500 metres vertical. The Main Breccia discovery remains open in
most directions and drill holes will continue to confirm and expand
the discovery. Within the broader target there are additional, yet
untested breccia, porphyry and vein targets which could facilitate
further expansion at Apollo.
Figure 1: Plan View of the Guayabales Project
Highlighting the Apollo Target is available
at https://www.globenewswire.com/NewsRoom/AttachmentNg/9d2b3619-a363-4b63-a4d3-7b091533f234
Figure 2: Plan View of the Main Breccia Discovery at the
Apollo Target, Highlighting in Green the Newly Discovered Areas
Where the Main Breccia Outcrops at Surface and Assay Results from
Drill Holes Announced to Date is available
at https://www.globenewswire.com/NewsRoom/AttachmentNg/41d44be4-0e1f-41f0-8587-84461c4e917a
Figure 3: Photos of Various Surface Exposures of Angular
Breccia Discovered to the North and East of Drill Pad
3 is available
at https://www.globenewswire.com/NewsRoom/AttachmentNg/8b220267-7bd9-4d39-8f0d-8e6a08d62a6b
About Collective Mining Ltd.
To see our latest corporate presentation and
related information, please visit www.collectivemining.com
Collective Mining is an exploration and
development company focused on identifying and exploring
prospective mineral projects in South America. Founded by the team
that developed and sold Continental Gold Inc. to Zijin Mining for
approximately $2 billion in enterprise value, the mission of the
Company is to repeat its past success in Colombia by making
significant new mineral discoveries and advance the projects to
production. Management, insiders and close family and friends own
nearly 45% of the outstanding shares of the Company and as a
result, are fully aligned with shareholders.
The Company currently holds an option to earn up
to a 100% interest in two projects located in Colombia. As a result
of an aggressive exploration program on both the Guayabales and San
Antonio projects, a total of eight major targets have been defined.
The Company has made significant grassroots discoveries at both
projects with near-surface discovery holes at the Guayabales
project yielding 302 metres at 1.11 g/t AuEq at the Olympus target,
163 metres at 1.3 g/t AuEq at the Donut target and recently, at the
Apollo target, 207.15 metres at 2.68 g/t AuEq, 180.6 metres at 2.43
g/t AuEg and 87.8 metres at 2.49 g/t AuEg. At the San Antonio
project, the Company intersected, from surface, 710 metres at 0.53
AuEq. (See related press releases on our website for AuEq
calculations)
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 and core samples have been prepared and
analyzed at SGS 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.
Contact Information
Collective Mining Ltd. Steven Gold, Vice
President, Corporate Development and Investor RelationsTel. (416)
648-4065
FORWARD-LOOKING
STATEMENTS
This news release contains certain
forward-looking statements, including, but not limited to,
statements about the drill programs, including timing of results,
and Collective’s future and intentions. Wherever
possible, words such as “may”, “will”, “should”, “could”, “expect”,
“plan”, “intend”, “anticipate”, “believe”, “estimate”, “predict” or
“potential” or the negative or other variations of these words, or
similar words or phrases, have been used to identify these
forward-looking statements. These statements reflect management’s
current beliefs and are based on information currently available to
management as at the date hereof.
Forward-looking statements involve significant
risk, uncertainties, and assumptions. Many factors could
cause actual results, performance, or achievements to
differ materially from the results discussed or implied in the
forward-looking statements. These factors should be
considered carefully, and readers should not place undue
reliance on the forward-looking statements. Although the
forward-looking statements contained in this news release are based
upon what management believes to be reasonable assumptions,
Collective cannot assure readers that actual results will be
consistent with these forward-looking statements. These
forward-looking statements are made as of the date of this news
release, and Collective assumes no obligation to update or revise
them to reflect new events or circumstances, except as required by
law.
Neither the TSXV nor its Regulation Services
Provider (as that term is defined in the policies of the TSXV)
accepts responsibility for the adequacy or accuracy of this news
release.
Collective Mining (TSXV:CNL)
過去 株価チャート
から 11 2024 まで 12 2024
Collective Mining (TSXV:CNL)
過去 株価チャート
から 12 2023 まで 12 2024