Collective Mining (TSXV:CNL) Extends the Olympus Target; Assay Results Samples112 g/t Gold and 544 g/t Silver

Source: Collective Mining

Colombia focused Collective Mining Ltd announced further high-grade gold and silver vein grab sample assay results from it’s grassroot generated Olympus target located within the Guayabales project in Colombia in a recent press release.

The company currently has two diamond drill rigs operating at Olympus with a third rig anticipated to commence drilling in approximately one week. The company has a minimum 20,000 metre program for 2022, in which all three drills are a part of. 

Ari Sussman, Executive Chairman of Collective commented “Olympus continues to deliver in terms of high-grade veins and porphyry potential. The recent IP work has now considerably extended the target. This extremely exciting grass roots discovery will be a priority area for drilling in 2022 and the company is committed to constructing enough drill pads to test the full potential extent of the mineralized system.”  

The highlights from the results are as follows: 

Assay results of grab samples taken from veins located within historical, shallow underground adits from the northwestern region to the Olympus target confirm the continuation of the high-grade carbonate base metal (“CBM”) sheeted vein system with results as follows:

Table 1: Grab Sample Assay Results from the Northwestern Sector of Olympus

Sample ID Au g/t Ag g/t
CM3350 112.3 544
CM3516 57.1 634
CM3341 55.4 439
CM3351 25.4 521
CM3334 10.9 268
CM3349 7.3 206
CM3336 7.2 179
CM3339 7.0 474
CM3345 5.7 144
CM3346 4.5 107
CM3347 3.3 68
  • Multiple CBM vein systems were sampled, where possible, over a 250-metre-wide area from limited and partial exposures of rock. These new high-grade samples now extend the known CBM vein exposure at Olympus to an area measuring more than 600 metres by 600 metres. The CBM veins are sulphide rich and coincident with IP chargeability anomalies. Recently revised interpretation of the IP data by the Company has now expanded the surface area of Olympus to 1,250 metres north-south by 750 metres east-west.

  • Preliminary logging of the first completed holes into the eastern portion of Olympus indicates that the Company has intersected multiple CBM veins hosted within intensely altered porphyry diorite and hydrothermal breccia.

  • Collective has made the Olympus target a 2022 priority area for drilling due to its grade, potential size, and multiple mineralization styles, including porphyries, high-grade carbonate base metal veins and breccias.
Source: Collective Mining

 

Source: Collective Mining 

 

The above references an opinion and is for information purposes only. It is not intended to be investment advice. Seek a licensed professional for investment advice. The author is not an insider or shareholder of any of the companies mentioned above.

By Matthew Evanoff

I cover the mining industry and the best mining stocks around the world. I write about industry news, individual companies, projects, management, and profiles on industry leaders.

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