The company presently has three drill rigs operating at the project with holes being drilled at the Apollo, Olympus Deeps and Trap targets respectively. A fourth rig has been mobilized to the Box target with drilling expecting to begin in April.
Please click here to watch a video hosted by David Reading, Special Advisor to the Company and a QP under NI 43-101 review sections of core from drill hole APC-93.
Highlights (see Table 1 and Figures 1-3)
- Hole APC-93 was drilled from Pad 14 to the north and was designed to both expand Apollo to the north and then intercept the Olympus Deeps porphyry system approximately 120 metres to the east of discovery hole APC88-D1 which cut 202.35 metres @ 2.16 g/t AuEq (see press release dated
January 30, 2024 for further details). A broad zone of high-grade and continuous mineralization was intersected across the Apollo brecciated porphyry system with assays results as follows:- 560.05 metres @ 1.83 g/t gold equivalent from 127.25 metres including:
- 112.00 metres @ 4.52 g/t gold equivalent from 219.60 metres, and;
- 110.75 metres @ 2.73 g/t gold equivalent from 396.90 metres
- 560.05 metres @ 1.83 g/t gold equivalent from 127.25 metres including:
- This intercept across Apollo is the seventh largest grade accumulation drilled by the Company to date averaging 1,026 g/t gold equivalent on a gram X metre basis.
- Assay results for the final 455.90 metres of drill hole APC-93 are still pending as the core is being batched for assay with current hole OLD-1, both of which were designed to test the Olympus Deeps porphyry system. APC-93 cut approximately 160 metres of mineralization in the Olympus Deeps porphyry system and confirmed a northwest trend to the mineralization. OLD-1 entered Olympus Deeps style mineralization at 912 metres down hole and is currently still in mineralization at 1,141 metres. Assay results for the balance of hole APC-93 and OLD-1 are expected in approximately 4-6 weeks.
- Drill hole APC-92 was drilled to the west-south-west from Pad 14 and increased the dimensions of Apollo to the east and west in the southern block portion by cutting two intervals separated by a post mineral dyke with assay results as follow:
- 55.15 metres @ 2.50 g/t gold equivalent and;
- 151.20 metres @ 1.12 g/t gold equivalent from 93.85 metres including:
- 86.00 metres @ 0.55 g/t gold equivalent from 321.40 metres
- 55.15 metres @ 2.50 g/t gold equivalent and;
Table 1: Assays Results for APC-92 and APC-93
Hole # | From | To | Length | Au | Ag | Cu | Mo | WO3 | AuEq |
APC-92 | 93.85 | 245.05 | 151.20 | 0.81 | 12 | 0.09 | 13 | 55 | 1.12 |
Incl | 189.90 | 245.05 | 55.15 | 1.88 | 23 | 0.19 | 13 | 121 | 2.50 |
and | 321.40 | 407.40 | 86.00 | 0.26 | 7 | 0.09 | 21 | 88 | 0.55 |
APC-93 | 127.25 | 687.30 | 560.05 | 1.18 | 34 | 0.13 | 4 | 52 | 1.83 |
incl | 219.60 | 331.60 | 112.00 | 2.40 | 110 | 0.43 | 5 | 59 | 4.52 |
and incl | 396.90 | 507.65 | 110.75 | 2.49 | 16 | 0.04 | 5 | 43 | 2.73 |
*AuEq (g/t) is calculated as follows: (Au (g/t) x 0.97) + (Ag (g/t) x 0.016 x 0.88) + (Cu (%) x 1.69 x 0.90) + (Mo (%) x 8.57 x 0.85) + (WO3 (%) x 6.32 x 0.72) utilizing metal prices of Cu – |
About
To see our latest corporate presentation and related information, please visit www.collectivemining.com
Founded by the team that developed and sold
The Company's flagship project, Guayabales, is anchored by the Apollo system, which hosts the large-scale, bulk-tonnage and high-grade copper-silver-gold-tungsten Apollo porphyry system. The Company's 2024 objective is to expand the Apollo system, prove that the recent discoveries at the Olympus and Trap targets evolve into large scale systems and make a new discovery at either the Box, Tower or X targets.
Management, insiders and close family and friends own nearly 42% of the outstanding shares of the Company and as a result, are fully aligned with shareholders. The Company is listed on the TSX under the trading symbol "CNL", on the OTCQX under the trading symbol "CNLMF" and on the FSE under the trading symbol "GG1".
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.
Technical Information
Rock, soils and core samples have been prepared and analyzed at ALS laboratory facilities in
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This news release contains "forward-looking information" within the meaning of the applicable Canadian securities legislation. All statements, other than statements of historical fact, are forward-looking information 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 information. In this news release, forward-looking information relate, among other things, to: anticipated advancement of mineral properties or programs; future operations; future recovery metal recovery rates; future growth potential of Collective; and future development plans.
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