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|
Source: Collective Mining
After a busy and successful 2021, Canada-based junior gold mining company Collective Mining (TSXV:CNL) is charting a path forward for 2022 that will highlight it’s Guayabales and San Antonio projects in Caldas, Colombia. After being listed on the TSX Venture Exchange through an RTO on May 28, 2021, the company went on to achieve a number of successful exploration campaigns at the Guayabales and San Antonio projects.
As a result of the success of the drill programs and discoveries, the company has decided to focus on some key targets in the new year. At Guayabales, the Olympus and Victory targets will be the focus of the drill campaign, but the company is also planning additional metres of drilling at the Donut and Box targets. The company has pushed up deadlines thanks to the success of the program so far and may do so again. If the exploration results in the first half of 2022 are successful, Collective could begin to test the earlier-stage Apollo and ME targets.
On the other side of the 20,000+ metre diamond drilling program, a deep penetrating ground IP survey will bein in January 2022 at San Antonio. Upon completion of the survey, the company will begin its follow-up drill program at the Pound target. Collective Mining is also looking at the possibility of testing the COP target at San Antonio for the first time during this period.
2022 is set to be an exciting year for the company, with an accelerated timeline in place for the 20,000+ metre drill program at Guayabales and San Antonio. If 2021 is anything to go by, then it could be another year of discoveries and advancing these two highly prospective properties in Colombia.
Guayabales Project (Figure 1)
4,838 metres of diamond drilling has been completed at the project as of December 22, 2021.
Due to the operating team’s extensive Colombian experience, the Company was able to rapidly advance surface exploration at Guayabales, which in turn lead to the discovery of a 3.5 kilometre x 3 kilometre cluster encompassing six porphyry targets for diamond drilling.
Donut Target: The Company made a significant grassroots discovery with multiple broad drill intercepts in predominantly breccia beginning at surface. Highlights from holes completed to date are as follows:
Assays for several completed drill holes remain outstanding and will be announced once received in Q1, 2022.
Olympus Target: A high-grade porphyry related, carbonate base metal (“CBM”) vein system, measuring 1,000 metres x 600 metres and open in all directions has been outlined through detailed surface sampling and geophysics. High-grade samples have been collected throughout the target area with highlights as follows:
A maiden diamond drilling program utilizing two rigs commenced at the Olympus target on December 1, 2021, and visual logging of the two completed holes to date highlights the discovery of multiple mineralized CBM veins hosted within intensely altered porphyry diorite and hydrothermal breccia units. Initial assay results are expected in January 2022.
Box Target: Three reconnaissance diamond drill holes were recently completed at the Box Target to test an altered and mineralized porphyry target with associated carbonate base metal veins. Visual inspection of the core for drill holes 1 and 3 indicates that multiple CBM veins and altered porphyry style mineralization were intercepted but appears to be distal to a potassic core of a porphyry system. Assay results are expected in mid to late Q1, 2022.
Victory Target: Extensive reconnaissance work is ongoing and has both significantly enhanced the 1000 metre x 600 metre porphyry target and has resulted in the discovery of a new carbonate base metal vein system directly flanking the eastern edge of the porphyry target. Multiple samples from both the porphyry and the Victory East vein target have been collected with results expected in Q1, 2022.
San Antonio Project (Figure 2)
4,310 metres of diamond drilling was completed at the project in 2021 resulting in a significant bulk tonnage grassroots discovery at the Pound Target. Mineralization at Pound, which begins from surface, is related to hydrothermal breccia and highly altered quartz diorite intrusive which have been overprinted by late stage, polymetallic veins. Subsequent follow up exploration has expanded the strike length of the target to at least 1.3 kilometres with assay results as follows:
Corporate and Sustainability
The Company successfully completed an RTO and was listed on the TSX Venture Exchange on May 28, 2021.
The Company raised C$28.5 million through a combination of a private placement financing and the exercise of warrants related to said financing.
As a result of successful exploration campaigns during the course of the year, the Company’s share price gained approximately 200% from the date of listing on the TSXVenture Exchange.
The Company’s multi-pronged and comprehensive ESG program for 2021 resulted in the recognition by local stakeholders as a transparent and trustworthy entity. Numerous programs were implemented throughout the year highlighted by the strategic alliance with the National Coffee Federation of Colombia and the Municipality of Supía to promote water utilities, infrastructure improvements, as well as to provide technical assistance for more than 400 coffee-growing families representing 6,000 people from 35 different communities.
Source: Collective Mining
Collective Mining (TSXV:CNL) has announced new further high-grade, polymetallic vein grab sample results from the western side of the grassroot generated Olympus target at the Guayabales project in Colombia. These are additions to previous grab sample results from the eastern portion of Olympus that were announced on December 1, 2021.
Figure 1: Plan View of the Guayabales Project and the Olympus Target
Ari Sussman, Executive Chairman of Collective Mining, commented in a press release: “Olympus is an extremely exciting grass roots discovery for the Company and locates in an area with no previous drilling or modern exploration work. High-grade polymetallic assay results to date are so compelling that we have prioritized Olympus for drilling in 2022 with a much expanded and fully funded drill program currently being finalized ahead of the new year. Olympus is a very large mineralized system measuring at least 1,000 metres X 600 metres on surface and the veins and porphyry are coincident with IP chargeability anomalies that can be followed to depths of up to 800 metres below surface.”
A third diamond drill rig is expected to be added at Guayabales in addition to the two rigs currently operating at part of Collective’s maiden 10,000 metre drill program. The third rig is anticipated to begin operating later in December.
Highlights (Table 1 and Figures 1 to 4)
Figure 2: Plan View of Olympus with Proposed Drill Holes Traces Superimposed
Figure 3: Olympus Section View Showing Drill Hole Traces into a Chargeability High
Figure 4: Photos of High-Grade Polymetallic Grab Samples Taken at Olympus
This morning, Collective Mining (TSXV:CNL) announced it had received positive sample results from the Olympus Target. The grassroot generate target returned high-grade gold and silver grab sample results. The Olympus target is within the Guayabales project in Colombia.
With these positive results, the company also announced that it had commenced drilling at the Olympus target with an initial drill hole. Guayabales has two operating diamond drill rigs at Guayabales, and is advancing its maiden 10,000 metre drill program quickly. The company is also planning to add a third diamond drill rig in December 2021. Collective also expects to receive the first assay results from the project in the first quarter of 2022.
Ari Sussman, Executive Chairman of Collective Mining (TSXV:CNL) commented in a press release: “Olympus is without question a tier-one target covering a significant area with robust IP targets and multiple mineralization styles that include high-grade veins, hydrothermal breccia and porphyry veinlet stockwork. This is a key priority target for the Company as it has the potential to yield large-scale, high-grade and bulk tonnage systems.With our maiden drill program now underway at Olympus, we look forward to receiving first assay results in early Q1, 2022.”
Highlights (Table 1 and Figures 1 to 4)
Table 1: Grab Sample Assay Results from the Eastern Sector of Olympus
|Sample ID*||Au (g/t)||Ag (g/t)|
*The reader should be cautioned that grab samples are selective in nature and as a result should not be relied upon as being representative of average grades anticipated should a deposit be defined in the future.
Source: Collective Mining
Figure 1: Plan View of the Guayabales Project and the Olympus Target
Plan View of Olympus with Proposed Drill Holes Traces Superimposed
Figure 3: Olympus Section View Showing Drill Hole Traces into a Chargeability High
Figure 4: Photos of High-Grade Grab Samples Taken at Olympus
Collective Mining (TSXV:CNL) announced on Monday that their follow-up drilling on the recent grassroots discovery at the Donut target intercepted long and continuous zones of mineralization from the surface. The Donut target is at the Guayabales project in Colombia and is the first out of five outcropping and grassroot targets generated by the Company to be drill tested.
The company currently has two diamond drill rigs on site as part of its maiden 10,000 metre drill program with a third rig to be added in early Q1, 2022.
Ari Sussman, Executive Chairman of Collective Mining, commented: “We are absolutely thrilled with the results of the first five drill holes into Donut, which is a complete virgin grassroots discovery. Importantly, the results mark an important step in our vision of once again untapping the enormous geological potential of Colombia by discovering the next large-scale deposit in the country. The first ever drill hole is now advancing in the Box target and later this month, we will begin drilling our maiden hole into the Olympus target.”
Highlights from the press release are as follows:
“Potassic altered diorite porphyry overprinted by phyllic assemblages and sulfide cemented breccia dominate Donut drill holes. Banded quartz-magnetite veins cutting diorite porphyry at depth and as common clasts in breccia at shallower levels indicates excellent potential to discover a large porphyry system nearby the existing new breccia discovery at Donut,” commented Dick Tosdal, Special Advisor to Collective Mining and world-renowned expert on porphyry systems.
This intercept confirms that a porphyry system exists in the Donut target area. In order to better pinpoint a potential location for a concealed well-mineralized porphyry, a special survey is planned and once that is completed there will be follow-up additional diamond drilling.
Drilling was recently completed for holes DOC 6 through DOC 10 and samples were sent to the lab for analysis. Additional assay results are expected in Q4, 2021.
Figure 1: Plan View of the Guayabales Project and the Donut Target is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/73fc402b-5fb4-451b-85d0-e3ae439b457d
Figure 2: Plan View of the Donut Target Area is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/45408cf8-9286-4069-a56a-e7e73836c984
Figures 3: Drill Core Photos are available at:
This morning, Collective Mining (TSXV:CNL) has announced that is has made a significant grassroot discovery at the Pound target within the San Antonio project. This comes right on the heels of the recent discovery at the Donut target at its Guayabales property.
One of three targets generated at the San Antonio project, reported assay results are from the recently completed Phase 1 reconnaissance drill program which tested two of these targets.
Ari Sussman, Executive Chairman of Collective Mining commented in a press release: “The wide and continuous zones of mineralization intersected from surface at Pound are exciting and suggest we are either peripheral to or above a very large porphyry system. It is extremely pleasing that we have made brand new significant discoveries with the initial drill holes into grass root generated targets at both our Guayabales and San Antonio projects. With funding in place through 2022, the Company will become aggressive in the short-term with follow up drilling on our new discoveries and testing newly generated targets across the project portfolio.”
Highlights (Tables and Figures 1 to 5)
Table 1 Initial Diamond Drilling Results at the Pound Target
|Cu %||Mo %||AuEq
* AuEq (g/t) = (Au (g/t) x 0.95) + (Ag g/t x 0.013 x 0.90) + (Cu (%) x 1.83 x 0.92) + (Mo (%) x 4.57 x 0.92), utilizing metal prices of Cu – US$4.00/lb, Mo – US$10.00/lb, Ag – $20/oz and Au – US$1,500/oz and recovery rates of 95% for Au, 90% for Ag, 92% for Cu and Mo.
** a 0.1 g/t AuEq cut-off grade was employed with no more than 10% internal dilution. True widths are unknown and grades are uncut.
Geological Details of the San Antonio Project
The San Antonio (“SA”) Project is located in the Middle Cauca Gold Belt (“MCB”), 80 km south of Medellin and 50 km north of Manizales, Department of Caldas, Colombia. The MCB has been the most prolific belt for Miocene aged, porphyry and epithermal vein discoveries within Colombia and multi-million ounce discoveries in recent years include Buriticá, La Colosa, Nueves Chaquiro and Marmato.
The SA covers an area of 3,853 hectares and hosts multiple quartz diorite, diorite intrusive and breccia bodies of Miocene age which intrude basement schists and younger volcano-sedimentary packages.
Three specific grassroots exploration targets have been outlined by surface mapping, sampling, soil geochemistry, geophysical modelling, and shallow scout drilling. These are referred to as the Dollar, COP and Pound targets.
The Pound target is located in the northern portion of the project, is defined by multiple hydrothermal breccia bodies hosted within highly altered diorite and quartz diorite intrusive and overprinted by late stage, polymetallic veins. This zone of altered intrusive and breccia bodies trends NE-SW and has been mapped for a strike length of plus 1.3 kilometres. The zone is still open to the NE and SW. Outcrop exposures on the southern border of this target area include epithermal vein systems within a preserved lithocap of advanced argillic alteration which is superimposed on hydrothermal breccia bodies which grades laterally and downwards into intermediate argillic alteration assemblages. These rocks are interpreted to reflect preservation of the shallow levels of the porphyry system. The initial two reconnaissance diamond drill holes, SAC-6 and SAC-8, were drilled to respective downhole depths of 750 metres and 710 metres and intersected various hydrothermal breccia (pyrite matrix), altered quartz diorite intrusive and late-stage polymetallic veins. All the rock units have been hydrothermally altered with an earlier sericitic event overprinted by a strong, advanced argillic phase with various aluminosilicates. At depth, various diorite phases display disseminations and aggregates of chalcopyrite and molybdenite in contact with large blocks of metamorphic schist. The target remains open in all directions and further work is envisaged and will commence with a deep penetrating, high-resolution, induced polarization survey down to minimum depths of 900m below surface followed by a Phase II expanded diamond drilling program. Exploration targets include the mineralized breccia and a porphyry system postulated to occur below the lithocap.
The COP target is located 800 metres south of Pound and is defined by highly anomalous molybdenum (8 ppm to 108 ppm) and gold (up to 2.74 g/t) in soils in association with altered diorite porphyry and quartz veinlets over an area of 650 metres x 350 metres. The surface expression of the COP target is coincident with geophysical anomalies, at 200-300 metres depth which include a positive magnetic anomaly and IP chargeability and resistivity highs. COP has not been tested, other than a single historical borehole drilled just south of the target area, returned an intercept of 99 metres at 0.42 g/t gold and 4.9 g/t silver within unmineralized country rocks partially intruded by mineralized porphyry quartz veins at a depth of 608 meter downhole. The mineralization encountered in the drill-hole is interpreted to be leakage from the COP target directly to the north.
The Dollar target is located 400 metres south of COP. At surface various outcrop of quartz diorite porphyry host stockwork and sheeted quartz-magnetite vein systems associated with disseminated pyrite covering a 500-metre radius. Shallow scout drilling (6 holes) to cover the target area, identified the main mineralized porphyry. Holes SAC-1 to SAC-5 and SAC-9 returned gold intercepts of 0.1 to 0.3 g/t over various angled intercepts of 100 metres to 600 metres length within or across the various outcrops of the mineralized stockwork system. Based on the shallow intercepts a deeper hole was drilled into the mineralized stockwork and returned the intercepts outlined in Table 2 below. Gold, copper and molybdenum grades improve with depth and further deeper drilling is warranted, particularly as the project area is located approximately 300 metres above an accessible valley floor.
Table 2 Initial Deep Diamond Drilling Hole at the Dollar Target
|Cu %||Mo %||AuEq
* AuEq (g/t) = (Au (g/t) x 0.95) + (Ag g/t x 0.013 x 0.90) + (Cu (%) x 1.83 x 0.92) + (Mo (%) x 4.57 x 0.92), utilizing metal prices of Cu – US$4.00/lb, Mo – US$10.00/lb, Ag – $20/oz and Au – US$1,500/oz and recovery rates of 95% for Au, 90% for Ag, 92% for Cu and Mo.
** a 0.1 g/t AuEq cut-off grade was employed with no more than 10% internal dilution. True widths are unknown, and grades are uncut.
The San Antonio project benefits from favorable topography with approximately 600 vertical metres of elevation change from the mountain peaks to the various flat lying valleys. Additionally, the topography is not overly steep, lending itself to multiple potential infrastructure development scenarios should an economic deposit be discovered in the future.
Figure 1: Plan View of the San Antonio Project and the Pound Target
Figure 2: Plan View of the Pound Target
Figure 3: Cross Section of Pound Drilling
Figure 4: Core Photos: Pound: SAC-6 and SAC-8
Figure 5: Core Photos: Dollar, SAC-7. Clay Alteration Overprint Decreases With Depth
As the first of five outcropping and grassroot targets generated by Collective Mining (TSXV:CNL) at its Guayables project in Colombia, Donut has been the first to yield discoveries from the drill program. Collective Mining has announced that a significant discovery has been made at the Donut target.
This is the first drill hole at a grassroot target at the project, and it already has a new brand discovery. The company is aiming to increase its drill program from 7,500 metres to 10,000 and speed up plans to begin drilling the Olympus target. Collective will aim to begin drilling at the Olympus target in November 2021 instead of Q1 2022.
Currently, there is one diamond drill rig testing Donut. To accelerate the program, a second rig is expected to arrive at the target shortly and begin drilling the Box target before the end of the month.
Ari Sussman, Executive Chairman of Collective Mining, commented in a press release, “As a result of our team’s diligence and geological modelling prowess, we have accomplished the exceedingly arduous task of making a brand-new discovery on the very first drill hole into a grassroot target at the Guayabales project. We look forward to announcing additional drill hole assay results in the near term. As a result of this early success, we are increasing our initial drill program from 7,500 to 10,000 metres and are also accelerating our plans to drill the Olympus target to November 2021 from Q1, 2022.”
Highlights (Table 1 and Figures 1 to 4)
Table 1: Initial Diamond Drilling Results at the Donut Target
|Hole ID||From (m)||To (m)||Interval (m)||Au (g/t)||Ag (g/t)||AuEq* (g/t)|
Geological Details of the Donut Target
Underground mapping of artisanal workings covering a 100 metre x 100 metre area has exposed mineralized and oxidized porphyritic diorite in contact with hydrothermal breccia. The porphyry and the breccia display evidence of stockwork and sheeted, quartz-sulphide veinlets as well as later overprinting polymetallic veins. A total of one hundred and seventy-six two-metre channel samples were taken underground and returned an average of 2.1 g/t gold and 21.2 g/t silver (based on applying a statistical top-cut to three high-grade samples). Collective’s initial drilling has been focused on drill testing this mineralization at depth and in an array of different directions.
Review of the diamond drill core highlights a hydrothermal breccia with a sulphide matrix and hosting clasts of mineralized porphyry containing A and B veins and disseminated pyrite, chalcopyrite, and molybdenum. Breccia mineralization is associated with strong phyllic alteration (principally illite-sericite with some chlorite and epidote) whereas the diorite bodies intersected in the cores show potassic alteration (Biotite and K feldspar). The overprinting polymetallic veinlets contain quartz and pyrite associated with high grade gold values, sphalerite and occasional galena. Borehole DOC-5, drilled to the southeast, intersected mineralized breccia in a faulted contact with a potassic altered, porphyry body hosting disseminated chalcopyrite and molybdenum plus A and B porphyry veinlets.
In summary, mineralization at Donut is polyphase related to porphyry, hydrothermal breccia, and later polymetallic veining. At least three mineralization events are seen in the drill core. The presence of porphyry clasts and the mineralized porphyry intrusive intersected in DOC-5 highlight the potential for a large, mineralized porphyry body in the near vicinity.
Figure 1: Plan View of the Guayabales Project and the Donut Target is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/f9ee816f-ca94-4b43-8c82-fc466f2f7985
Figure 2: Plan View of the Donut Target Area (Gold Values (g/t)) is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/fb6daab3-fe64-40c2-9398-ec694f5d114b
Figure 3: Cross Section of Donut Drilling is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/1915efc3-8c65-47ba-ab07-63ef2de59cde
Figure 4: Core Photos (i) is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/0678467b-d64e-47a2-b32d-84d790c0e6be
Figure 4: Core Photos (ii) is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/3196635a-7415-45c8-ab0e-88f06f5449bf
Figure 4: Core Photos (iii) is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/26acf326-8613-4e81-9302-a210c364b1c7
Figure 4: Core Photos (iv) is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/e9f5f859-4b4f-4ba1-96d8-8c5694482b5d
Source: Collective Mining
Collective Mining (TSXV:CNL) is pleased to announce that Steven Gold has been appointed Vice President of Corporate Development and Investor Relations, and granted 200,000 stock options, effective October 12, 2021. The stock options are exercisable for a period of five years from the date of grant to a common share of Collective Mining at a price of $2.40 per share and will vest at 25 percent every six months.
Mr. Gold has more than 20 years of capital market experience in the natural resource sector and has held various positions in the investment industry, both on the buy and sell side. More recently, he has held Senior Officer and Corporate Development roles at various junior and mid-level mining companies in the global mining sector.
Mr. Gold will now bring his valuable experience and expertise to the team at Collective Mining as it pursues exploration projects in Colombia, including its flagship Guayabales project.
Collective Mining (TSXV:CNL) 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 a significant new mineral discovery and advancing the projection to production. Management and insiders own approximately 41% of the outstanding shares of the Company and as a result are fully aligned with shareholders. Collective currently holds an option to earn up to a 100% interest in two projects located in Colombia: (i) the San Antonio project; and (ii) the Guayabales Project. With an aggressive grassroots exploration program in 2021 outlining five major targets at the Guayabales Project, the Company recently initiated a maiden 7,500 metre drill program with a sole purpose to make the next major discovery in Colombia. Initial assay results from this drill program are anticipated in Q4, 2021.
Collective Mining’s (TSXV:CNL) maiden drilling program is advancing with the Box Target. The company has announced that it is mobilizing a second diamond drill rig to the Guayabales Project in Caldas, Colombia. This is a key part of its 7,500-metre maiden drill program that was recently started.
Collective is aiming to begin operating the new drill rig before the end of October, to target a grass-root generated large-scale and mineralized outcropping gold-rich porphyry system with the Box target area.
Collective Mining (TSXV:CNL) has identified five major grass-root drill-ready target areas at the Guayabales Project in 2021. Box is one of the five targets at the flagship project for the junior exploration company headed by the former team at Continental Gold.
Executive Chairman of Collective Mining, Ari Sussman, commented on the news, “The deep penetrating, high resolution IP work when combined with our exploration data has been an effective targeting tool in defining multiple targets consisting of different mineralization styles at the Guayabales Project. As a result, the Company is now beginning a robust drill program to test our initial five targets over the balance of the year and into 2022. Importantly, we expect that initial assay results from drilling at the Donut target, which commenced in September, will be available prior to the end of October.”
Highlights (Table 1 and Figures 1 to 5)
Table 1 Rock and Channel Sample Results at the Box Target
|Sample ID||Au g/t||Ag g/t||Length||Mineralization|
|CM000068||14.80||176||*||Polymetallic Shear zone|
|CM002440||0.79||1||0.5||Shear Zone Contact|
|CM002160||0.44||4||2.0||Porphyry Disseminated + Stockwork|
The Guayabales Project is situated contiguous and immediately along strike and to the northwest of Aris Gold’s multi-million-ounce deposit. The Company interprets the abundant precious metal mineralization encountered throughout the Guayabales project to be related to multiple mineralized styles that include gold-copper-molybdenum porphyries and associated breccia as well as high grade, precious and base metal vein systems that are superimposed on and enrich the porphyry bodies.
The CPZ within the Box is in the western portion of the Guayabales Project and is hosted within multiple porphyritic diorites which intrude into carbonaceous schist and siltstone country rocks. Previously, the Company announced channel and rock sample results from small porphyry and polymetallic vein outcrops within the Box target (see press release dated July 29, 2021). The Company has now undertaken extensive additional surface work and geophysical surveys at the Box target which define a central, mineralized porphyry zone, referred to as the impregnated zone and enveloped by high grade, polymetallic veins to the north, west and south of the porphyry body (see Figure 1).
The CPZ contains gold mineralized stockwork and sheeted vein systems hosting quartz-pyrite-molybdenite-magnetite-chalcopyrite assemblages that are associated with potassic alteration. The mineralized vein systems are coincident with soil anomalies for copper (>500ppm), molybdenum (>3ppm) and gold (>100 ppb) and cover an area of 500 meters by 400 meters. The mineralized porphyry system is impregnated by late stage polymetallic veins which host gold, silver, sphalerite, and galena sulphides. Located to the North and South of the porphyry zone are additional zones of polymetallic veins which fringe the main porphyry bodies and are associated with extensive sericite-chlorite alteration. The polymetallic veins locate within intersecting structures and have northeast, northwest and east-west orientations.
Outcrop exposure within Box is limited due to extensive landslides and colluvium cover. Geophysical surveys were therefore undertaken to assist in target definition and included airborne magnetics and a deep penetrating, ground IP survey. Three-dimensional modelling of all this data has highlighted the presence of a zone of chargeability highs associated with intermediate resistive bodies which are coincident with an intermediate magnetic anomaly. The geophysical anomalies demonstrate an excellent coincidence with the CPZ as defined by geological mapping, soil and rock sampling. The magnetic survey also highlights a clear, NE-SW trending structural corridor which is interpreted to have facilitated emplacement of the CPZ and vein systems in between the various country rocks.
Three Valley Copper (TSXV:CNL) is one step closer to its goal of 100% ownership of the Minera Tres Valles copper project in Chile. The company has delivered written notice of its intention to acquire the remaining ownership of MTV that SRH Chile SpA doesn’t own to the minority shareholder.
Currently, Three Valley Copper (TSXV:CNL) owns 91.1% of Minera Tres Valles. The company’s shareholder agreement with the minority shareholder holding the remaining 8.9% of the project stipulates that SRH has 30 days from October 2, 20201 to deliver that written notice of its intention to acquire the remaining share of the project.
This would mean moving toward 100% ownership over the following months and determining a purchase price before completing the transaction.
Michael Staresinic, President and CEO of Three Valley Copper, commented, “This is the first step in completing the acquisition of the remaining ownership of MTV. The SHA provides for a sequence of steps to be undertaken in completing this acquisition and the delivery of the call notice is the first step. We believe it will be several months before a purchase price is concluded on and the transaction complete.”
Controlling 100% of the project will allow Three Valley Copper to make decisions faster and more efficiently as it continues to produce Grade A high-quality copper cathodes (99.99%) at the site.
Shares of Three Valley Copper (TSXV:CNL) are up 5% to CAD$0.42 in early Monday morning trading.
When hunting for the best mining stocks, it can often feel like playing the lottery. Most companies seem to be exploring in the dark, hoping for the right combination of mineralization and luck. However, some companies use historical data and advanced mapping to target their projects and drill programs, and Collective Mining is one of those companies.
Collective Mining (TSXV:CNL) is an exploration and development company working to identify and explore gold projects in South America. The Collective team was previously responsible for discovering, permitting, and constructing the largest gold mine in Colombia, and ultimately selling that company (Continental Gold) to Zijin Mining for C$2 billion. It would be an understatement to say that this team has experience with exploration success.
So when the company set up a new project at its Guayabales and San Antonio sites, it sent up a flare to the industry that something beyond the nearby Marmato Mine might be sitting just below the surface. Aris Gold is advancing and managing the Marmato Gold Mine, sitting right next door.
Aris Gold operates the Marmato Mine in Colombia, where a modernisation and expansion program is underway. The Marmato mine is located in the Marrato Gold District of the Department of Caldas, a mountainous area about 80 km south of Medellin, Colombia.
Marmato is a 13-year mine that currently boasts gold reserves of 2.0Moz @3.2g/t, M&I gold resources of 4.1M0z @ 3.2g/t, inferred gold resources of 2.2 Moz @ 2.6 g/t, and strong production in place. Marmato has a processing capacity of 5,500 tpd, equalling 165koz per year in LOM average production, with an LOM average AISC of $US880 per oz. Marmato is producing, and the extension will help.
However, this is an established project that hasn’t fully lived up to the hype of the discovery. Capex for the lower mine expansion is in place and set at an estimated US$268 million. The lower mine is going to need to pay off huge if that investment is to pay for itself and then some.
While Marmato has seen some success, investors are beginning to wonder if there is a better value investment just down the road, with Collective Mining’s Guayables project.
The Guayabales Project is located approximately 75 km south of Medellin in a strike area adjacent to the Marmato Gold Mine. The Marmato mine has a long history dating back to pre-colonial times and was used as security for financing the war of independence against Spain. The project is located along the NW trend of the Marrato Mineralized Corridor and represents an immediate NW extension of this trend.
Collective Mining (TSXV:CNL) may present somewhat of a more attractive opportunity because of the size of the untapped potential. Yes, there can be a first-mover advantage that Aris Gold has enjoyed for some time. However, the second mover is the one that gets to learn from the first’s mistakes and improve everything.
For one, Collective isn’t wasting any time. The company announced in mid-September that its 7,500 metre diamond drilling program had commenced. That program will include drill testing at five targets including Donut, Box, Olympus, Victory, and ME. Additionally, investors won’t have to wait for assay results very long, as the first assay results are anticipated in October.
Last week, the company already filed a NI 43-101 Technical Report for the Guayabales Project as well, wasting no time in getting results to investors.
Collective might also have a more attractive capital structure with only 47.2 million shares outstanding, and no warrants exist. While it is early stages still, the company’s $26 million cash balance is a strong start for a project that is already showing strong early signs of high-grade mineralization. Certainly choosing a site along a proven deposit adjacent to a producing mine is helping. Marmato hosts 6.3 million oz – how much might Guayabales have?
So is Guayabales the next Marmato? Well, the sites share many similarities including the same host rocks, structural trends, styles of mineralization, and types of alteration. Additionally, it should be noted that precious metals mineralization at Marmato is exposed at a vertical extent of more than 1,000 metres. For some context, exploration at Guayabales has only been limited to the upper 100-200 metres of the system.
So, there could be a potential 80%+ of the system unexplored at this point, with tens of millions to spend expanding the drill program further. Any one of the five targets could end up yielding a large, mineralized porphyry system.
Guayabales includes a package of 3,333 ha, close to connections to the national electricity and natural gas grids that run just 3 kilometres east of the project. Sitting in the middle of the 250 kilometre long Middle Cauca Gold Belt hosting approximately 100 million oz Au and 11+ billion pounds Cu, this is seemingly the best possible property in the area.
Asking now whether Guayabales is the next Marmato seems premature, but at this rate, it might not be. Guayabales presents possible greater potential upside for investors who might already be decided that the proven reserves and life of mine at Marmato just aren’t cutting it. Instead, the market now is more likely deciding whether Guayabales will be bigger than Marmato, and whether the team that sold Continental Gold in a multi-billion dollar deal is about to hit its second home run.
Collective Mining (TSXV:CNL) has provided an exploration update on its Victory target. Victory is the fifth major target identified by the company at its flagship project, Guayabales, in the Caldas area of Colombia. The project is located on a continuous strip northwest of the million-ounce deposit of Aris Gold’s Marmato mine. The Company has interpreted that the abundant precious metal mineralization encountered at the project is related to several mineralized styles, including gold, copper, and molybdenum porphyry associated with breccias, high-grade precious metals, and base metal loading systems, and superimposed enriched porphyry bodies. Victory is located to the north of the project and hosts fine-grained diorites showing porphyry alteration of potassium sericite.
Executive Chairman of Collective, Ari Sussman, commented on the update, “Victory is a target area with potential to yield a large, mineralized porphyry system and I congratulate the exploration team for their endeavours in a region with very limited outcrop exposure. Once the Induced Polarization (“IP”) survey is finished, we plan to model all the data and drill test this target in Q4, 2021. The Company has now outlined five targets with porphyry and high-grade vein potential within the Guayabales project in less than six months of exploration work. I am confident that our recently initiated maiden drilling program at the Guayabales project will yield significant discoveries in the near future.”
These veins are associated with widespread pyrite and occasional molybdenum and chalcopyrite. The late vein formation includes sphalerite and galenasulphides. Quartz and magnetite veins as well as stockwork sheets within the vein system have been identified and these veins set the trend for the NNW.
Rock fragments and soil anomalies at Victory were located near a magnetic anomaly outlined by magnetic inversion modeling and airborne magnetic data. The anomaly has a circular diameter and is about 500 meters long and extends to a depth of 900 meters below the surface. Clear structural corridors and deposits of the porphyry system were identified in the field and confirmed by magnetic anomaly modelling and aerial data.
Field work continues at Victory Target, with ARCE Geofisicos conducting an in-depth IP survey using its own AGDA technology. The study will generate 3D data of chargeability and resistance at a minimum vertical depth of 800 meters and is designed to search for common sulphide porphyry systems and resistive vein clusters within the floor. The highly anticipated NI 43-101 Technical Report on the Guayabales Project is approaching completion and is expected to be filed with SEDAR by September 2021.
Highlights (Table 1 and Figures 1-4)
Table 1 Rock and channel sampling at the Victory Target
|Sample ID||Length (m)||Au g/t||Ag g/t|
Source: Collective Mining
Figure 1: Plan View of the Guayabales Project and the Victory Target
Figure 2: Plan View of the Victory Target Area
Figure 3 (1&2): Magnetic Inversion Section and Plan View Across the Victory Target
Figure 4 (1-4): Victory: Porphyry Style Mineralization in Outcrop Samples
With funding closed and planning completed, Collective Mining (TSXV:CNL) has announced this morning that its maiden 7,500 metre diamond drilling program is not underway at its Guayabales Project. The project, located immediately along strike and northwest of Aris Gold’s Marmato gold mine, is the company’s flagship project in the country.
After encountering abundant precious metal mineralization throughout the property during exploration, Collective moved quickly to begin the drill program. This includes identifying the five unique grassroots targets at Guayabales which include Donut, Box, Olympus, Victory, and ME. The five targets make up this 7,500 metre maiden drilling program which has now begun.
The program will consist of short, fanned holes measuring up to 300 metres from a single drill pad. The pad will cover various depths beneath the shallow underground workings to define the potential grade and extent of the mineralized system. Some drilling has already been completed, and the visual observation of that drilling has intersected porphyry breccia with a pyrite matrix overprinted by a quartz-carbonate-sphalerite vein stockwork associated with intense sericite alternation over intersection lengths of up to 250 metres.
Donut is of particular interest to Collective and remains a first priority for the program. It has been traced along strike and to the west for at least 600 metres and is open in all directions. To test the strike extent of the target, the company will construct additional drill pads.
Ari Sussman, Executive Chairman of Collective Mining, commented on the news: “The commencement of drilling activities within the Guayabales project represents another important and exciting milestone in the Company’s evolution from early-stage explorer to outlining multiple large, continuous and mineralized porphyry, breccia, and high-grade vein systems. In total, we now have five distinct targets defined for first-pass drill testing over the next six months with more to come as we continue to explore and evaluate our highly prospective land package.”
As an exploration and development company working to identify and explore prospective gold projects in South America, this is Collective’s kickoff drill program that will begin the road ahead to discovery. The stock has remained steady since its IPO, and now investors will be looking to results from this maiden drill program for further guidance.
On Tuesday, Collective Mining announced that Mr. Ashwath Mehra was appointed as a non-executive director for the company, effective immediately.
Mr. Mehra has had 35 years of global experience in the minerals industry, and received his BSc (Econ) in Economics and Philosophy from the London School of Economics. He is also an economist by training and CEO of the ASTOR Group, “a private investment and advisory business, working in the fields of mining, technology, biotech and real estate.”
“On behalf of the Board of Directors, I would like to welcome Ashwath to the Collective team,” stated Ari Sussman, Executive Chairman of the company. “Ashwath is a proven executive with robust skills that will complement our board and we look forward to his guidance in discovering the next major mineral deposit in Colombia.”
He is a director of several private and public companies in both executive and non-executive roles, and devotes significant time to non-profit activities in the fields of education and healthcare. He also founded his own company called GT Gold and was executive chairman up until recently as he just sold the company to Newmont Corporation generating a significant return to GT Gold shareholders.
“I am delighted to join the Collective mining team. The prospectivity of the Cauca gold belt combined with the proven success of the team working in Caldas, a mining-friendly region, makes this an extremely interesting proposition. I look forward to this endeavor and helping the Company generate outstanding returns for all stakeholders,” said Mr. Mehra.
He will be nominated for election at the Company’s next annual general meeting.
The Company also recently appointed Ana Milena Vásquez as Executive Vice-President at the beginning of August earlier this year. Ms. Vásquez has an extensive and impressive background and experience in Colombian mining, community and government affairs.
She has held positions such as Senior Vice-President of External Affairs and Sustainability at Continental Gold leading the environmental, sustainability, communications and international standards programs, along with Country Manager of Red Eagle Exploration, President of Minera Vetas in Colombia, and co-founder and Vice-President of Business Development at CB Gold Inc.. and more.
Ms. Vásquez is also co-founder of Women in Mining Colombia and has been recognized as one of the Top 100 Global Inspirational Women In Mining by WIM UK in 2020.
Last Thursday August 19, Collective Mining (TSXV:CNL) announced it had appointed Ana Milena Vasquez as its Executive Vice President. Ana is one of the key group of executives that form the framework for Collective Mining, a group of former executives from the Continental Gold Mining project. The company is exploring high yield gold porphyries at its Guyabales and San Antonio mining sites, roughly 70km from Medellin.
Vasquez has ample experience with Colombian mining, government affairs, and community. Before Collective Mining was formed, she worked as the Senior VP of the External Affairs and Sustainability wing of the Continental Gold project, which played a part in the discovery of one of the most fruitful gold mines in all of Colombia.
However, Ana Milena Vasquez’s history stretches further than that, and her experience in Colombian mining specifically makes her a major asset for the team. She has previously worked as the Country Manager of Red Eagle Exploration and the President of Minera Vetas. She began her professional career after receiving her Master of Financial Analysis from the Universidad Carlos III de Madrid in Spain.
Vasquez has also historically played a key role in the upliftment of women in the mining industry. She was one of the co-founders of ‘Women in Mining Columbia” and was even recognized as one of the top 100 inspirational women in mining in 2020. Throughout her career, she has worked tirelessly to affect change in Columbia’s mining industry, which has traditionally lagged behind in gender parity and opportunities for women. In particular, she has campaigned for women to occupy more high-level executive positions in the industry.
As such, her appointment as the Executive VP of one of Columbia’s most promising gold exploration companies bodes well for women in mining in the country. According to recent studies, the position of women in Colombian mining has become better, due in part to the work done by Vasquez’ former organization, “Women in Mining Columbia”.
Vasquez has said she is thankful for the opportunity and hopes that the work she can do with Collective Mining can bring value to the company’s shareholders while also maintaining their social and environmental commitments. Vasquez said about joining the company:
“I am thrilled to work with such a successful team led by Ari Sussman. As demonstrated at Continental, each of us has a strong commitment to implement the highest ESG standards to our operations while delivering results and high value to our shareholders. I am happy to be part of this new chapter in the history of the mining sector in Colombia.”
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.
Collective Mining (TSXV:CNL) announced that it had received $13.5 million from the exercise of of common share purchase warrants on August 10 at an exercise price of $2.00. The warrant were originally issued on May 20 after the company’s qualifying transaction on the TSX Venture Exchange.
The inflows from the warrant exercise gives Collective Mining (TSXV:CNL) a larger cash balance to fund its flagship Guayabales project, of which exploration is already underway, with a recent high grade silver discovery further cementing the company’s vision for the project.
Recent channel sampling from the Box target showed a significant discovery for the company and revealed a new porphyry-vein system. The company’s flagship Guayabales project is returning good results with recent exploration efforts, and the injection of fresh capital will give the company a long runway to continue its efforts at the site.
The project, located in the the Caldas region of Colombia, is situated northwest of the Marmato gold mine owned by Aris Gold, which contains proven and probable reserves of 2.0 million ounces gold and 4.35 million ounces silver.
The mineral-rich area positions Collective’s Guayabales project right in the centre of many gold-copper-molybdenum porphyries and associated breccias. The site includes high-grade precious and base metal vein systems superimposed on the systems and which enrich those porphyry bodies.
“The Box discovery demonstrates the excellent potential of the Guayabales project which now hosts at least three mineralized porphyry bodies, gold bearing breccia and multiple zones of high grade, gold and silver veins. Our exploration continues to discover new mineralized zones and our reconnaissance work to date has only covered about fifty-percent of the concession. The future looks bright for Collective and we are planning a lot of target drill testing in the near future,” commented Ari Sussman, Executive Chairman.
Yesterday, Collective Mining (TSXV:CNL) announced an update for the Guayabales Project in Caldas, Colombia. The mine is just northwest of Aris Gold’s Marmato gold mine which has nearly 2.0 million ounces of gold and 4.35 million ounces of silver. According to the recent update at its Olympus target, the company has found many precious mineralized metals such as gold-copper-molybdenum porphyries. The site is also believed to contain high-grade precious base metal vein systems that enhance the porphyries, making them more valuable.
This project has been underway for some time now, and is helmed by former executives of the now famous Continental Gold mining company. One of these members was Ari Sussman, who currently serves as the Executive Chairman on the Board of Collective Mining Inc. His famous Buritica mining project a couple years ago was incredibly fruitful in Columbia before selling the company to Zijin mining for approximately $2 billion. Today, that mine is one of the most profitable on the planet and Sussman has similar hopes for the Guayabales mining site. He commented on the Olympus target:
“We are very excited about the Olympus target due to its multiple mineralization styles and enrichment of porphyry mineralization by a high-grade vein overprint. Although underground exposures to channel samples were limited due to extensive small-scale mining-related historical timber support, significant high-grades of both gold and silver were encountered over an area measuring 600 x 600 metres with mineralization remaining open in all directions. Work to date at Olympus clearly indicates that there will be multiple targets ready for drill testing in the near future,” commented Ari Sussman, Executive Chairman.
The Company has received results from shallow underground channel sampling at its Olympus target within the Guayabales Project. The Olympus target is a NW trending mineralized corridor located in a porphyry intrusive. Gold and silver mineralization is hosted within multiple styles that include high grade vein, porphyry veinlet, breccia and disseminated systems.
Ten old mine adits have been sampled to date with assay results for the initial six adits reported herein. In all cases, channel sampling was limited to infrequent underground exposures which were not covered by historical post-mining timber support with highlight results as follows:
o 46.5 g/t gold equivalent over 1 metre (19.1 g/t Au and 1,919 g/t Ag);
o 39.0 g/t gold equivalent over 2.7 metres (33 g/t Au and 421 g/t Ag);
o 16.3 g/t gold equivalent over 1 metre (9.7 g/t Au and 464 g/t Ag);
o 20.8 g/t gold equivalent over 0.9 metre (20.7 g/t Au and 9 g/t Ag);
o 13.8 g/t gold equivalent over 1.7 metres (9.3 g/t Au and 314 g/t Ag) and;
o 11.8 g/t gold equivalent over 1 metre (6.1 g/t Au and 399 g/t Ag).
Table 1: Underground channel sampling at the Olympus Target
Earlier today Collective Mining Ltd. (TSXV:CNL) announced results for its exploration campaign. The Guayabales project is on the border with Aris Gold’s Marmato gold mine, another profitable mining area with 2.0 million ounces of gold and 4.35 ounces of silver. According to the newest reports, the metal mineralization in the Guayabales mining site includes gold-copper-molybdenum porphyries and high grade precious and base metal vein systems.
Ari Sussman, the company’s CEO, commented on the recent results:
“The Box discovery demonstrates the excellent potential of the Guayabales project which now hosts at least three mineralized porphyry bodies, gold bearing breccia and multiple zones of high grade, gold and silver veins. Our exploration continues to discover new mineralized zones and our reconnaissance work to date has only covered about fifty-percent of the concession. The future looks bright for Collective and we are planning a lot of target drill testing in the near future”
Highlights (Table 1 and Figures 1-4)
The Company’s initial channel and rock sampling at the recently discovered target area called the Box within the Guayabales Project returned promising gold and silver assay results from both vein and porphyry mineralized systems. Surface mapping has demonstrated the presence of two mineralized systems along a stream traverse over a 600 metre horizontal distance. The northern portion of the Box target (“Box North”) hosts porphyry mineralization with a vein overprint and the southern portion of the Box target (“Box South”) contains vein mineralization and occurs 300 metres higher in elevation than Box North. The following results are highlighted:
Table 1: Channel Sampling Results*
|Channel||Interval (m)||Au g/t||Ag g/t|
*The Company’s channel sampling program consists of continuous two metre samples taken along the exposed rock at surface.
Figure 1: Plan View of the Guayabales Project and the Box Target
Figure 2: Plan View of the Box Target Highlighting North and South Targets
Figure 3: Plan View of the Box South Channel Sampling Results Illustrating all 2 Metre Sample Interval Values
Figure 4: Box North Porphyry Style Mineralization in Stream Outcrop Illustrating Porphyry Alteration, Silicification, Quartz Veining and Pyrite-Chalcopyrite Veins
The Guayabales project has been underway for some time now and is one of the hottest new mining projects in gold deposit-rich Colombia. The company is composed of many executives who previously played a role in the massive Continental Gold company, which led to a discovery and a billion-dollar sale.
The excitement about the Guayabales project is largely centered around its close proximity to the Aris Gold Marmato mine which is known for wide porphyry mineralization and narrow veins in its lower mine. The results that came out today seem to indicate that the Guayabales could hit similar returns for the project.
Recent channel sampling results announced by Collective Mining (TSXV:CNL) from its Guayabales Project in Colombia gave the company a promising confirmation of the work they are doing at the site. Located in a deposit-rich area, the project is situated contiguous, immediately along strike, and to the northwest of Aris Gold’s Marmato gold mine, which contains proven and probable reserves of 2.0 million ounces gold and 4.35 million ounces silver.
Collective Mining holds the option to earn up to a 100% interest in the Guayabales project, making it a critical site for the company. If the results bear out what initial exploration efforts have hinted at, then this could be a fantastic investment opportunity for a buyout or developer looking for their next site.
Much of the excitement around Guayabales also comes from its proximity to the Marmato mine from Aris Gold. The mine is located in the Marmato gold district in the Caldas department, a mountainous region approximately 80 kilometres south of Medellin, Colombia. The mine has excellent infrastructure, is located near the Pan American Highway, and has access to the national electricity grid running near the property.
For Collective Mining, the Marmato mine is a strong hint at what may be possible at Guayabales. The mineralization in the Lower Mine at Marmato includes wide porphyry mineralization, and the mineralizations in the Upper Mine is characterized by narrow veins where an existing operation mines material using conventional cut-and-fill stope methods.
The potential for Guayabales to return results similar to or even better than the Marmato mine is not lost on the company or investors. As results continue to come in from drilling, Collective Mining (TSXV:CNL)will be looking to realize the many promises of the district, which has been mined since pre-Colonial times by the Quimbaya people.
On June 21, Collective Mining released results from its project from geological mapping, soil and rock sampling programs, and the completion of a high-resolution, airborne geophysical survey. The interpretation of that data points in the direction of a series of copper-gold-molybdenum porphyry intrusions, as indicated by the previous metal mineralization encountered throughout the property.
While current surface exploration activity has covered only less than 20% of the project area, four initial targets have been identified. These targets lie along a NW-trending and mineralized structural corridor that incorporate both porphyry-style copper-gold-molybdenum mineralization and associated high-grade gold-silver (base metal) vein systems.
Lying immediately along strike and at a higher elevation to Marmato, the Guayabales project has the potential to be the next significant discovery in the region. If the company finds what the latest results seem to hint at, then the drill program could bring Collective Mining (TSXV:CNL) much closer to a sale or deal with an established producer for a profitable deal.
Collective Mining (TSXV:CNL) has provided an update on its flagship Guayabales Project this morning, announcing new channel samples 45.52g/t gold and 27 g/t silver along 37.5 metres in the underground development. The Guayabales project is a key focus for the company, with Collective (TSXV:CNL) interpreting the abundant precious metal mineralization encountered throughout to be related to a series of copper-gold porphyry intrusions hosted within the project tenements.
The Guayabales project is situated contiguous, immediately along strike and to the northwest of Aris Gold’s Marmato gold mine, for which Collective believes could be at least partially responsible for the rich mineral endowment of the Guayabales Project.
This is an important step for Collective Mining which is advancing on its Guayabales and San Antonio projects in Colombia. The company is looking to initiate its first-ever drill program in late August 2021, giving investors something to watch out for going forward. Collective will continue with channel sampling now to cover all underground workings and the target currently remains open to the north, north-west, east, and at depth.
“We are off to a very exciting start at the Guayabales project. The robust and continuous high-grade channel sampling results validate our geological model for the property. We look forward to initiating a first-ever drill program at the Donut target,” commented Ari Sussman, Executive Chairman.
The Company’s initial channel sampling campaign at the Donut taget (“Donut”) within the Guayabales Project has returned high-grade gold and silver assay results from a shallow underground tunnel. Mapping of this tunnet has exposed a gold-copper porphyry stockwork of veinlets with overprinting polymetallic vein systems. Additionally, the mineralized zone outlined by channel sampling results announced herein displays excellent grade continuity with results as follows:
Table 1: Channel Sampling Results*
Figure 1: Plan View of the Guayabales Project and the Donut Target
Figure 2: Plan View of the Donut Mine Showing the Grade Ranges for Channel Sampling Assay Results
Figure 3: Donut Target porphyry style mineralization in underground workings showing abundant copper mineralization.
Figure 4: Donut Target porphyry style mineralization in underground workings showing abundant copper mineralization.
Source: Collective Mining
Collective Mining’s Guayabales project is making headway with the company identifying a new cluster of mineralized porphyries and associated gold-silver vein systems at the site in Cladas, Colombia. Situation contiguous and immediately along strike to the northwest from Aris Gold’s Marmato Gold Mine which contains proven and probable reserves of 2 million ounces gold, 4.35 million ounces silver, the Guayables project is rapidly advancing with intense geological mapping, soil and rock sampling programs, and has completed a high resolution, airborne geophysical survey.
Collective is fortunate to be the first company to ever consolidate the prospective land package along strike to the northwest and adjacent to Marmato. The company is capitalizing on a significant section and the Guayabales project is a major leap forward for the company and the area.
The company’s interpretations of the survey and project is that the precious metal mineralization is related to a series of copper-gold-molybdenum porphyry intrusion, like at least partially responsible for the mineral endowment of the area. Current surface exploration has covered only 20% of the project area, but has identified four initial targets referred to as Donut, Tower, Olympus, and Victory.
Details provided by Collective Mining:
Ari Sussman, Executive Chairman of Collective Mining stated, “This is the first time that any mining company has consolidated a commanding land package encompassing the northwest projection of the historically significant Marmato mine, which has been in continuous production for more than 500 years. Results to date from our Guayabales project are astounding, with multiple styles of precious and base-metal mineralization having been discovered covering more than 5 kilometres. The potential for discovering overprinting high-grade and bulk tonnage mineralized systems is excellent.”
An initial 5,000 metre drill program has begun at the project with initial assay results projected for Q3 2021. The project is located in the Caldas region of Colombia, where Collective Mining works closely with the local Municipality and agriculture groups to invest in infrastructure, water access, and support for the coffee industry.
Collective Mining’s ESG approach to mining along with a focus on benefiting stakeholders at every step of the projects they work on has piqued investors’ interest in the company. The first day of trading saw Collective shares pop 205%, and the stock has moved higher since then.
Collective Mining (TSXV:CNL) is a strong partner for the communities in Colombia in which it operates. With ESG principles woven into the fabric of the company’s founding principles, Collective’s commitment to creating opportunities for all stakeholders solidifies the company’s position as a responsible miner.
Collective Mining’s (TSXV:CNL) strategic alliance with the Coffee Growers Committee of Caldas and the Municipality of Supia is based on the foundation that mining and agriculture work effectively together to create positive growth and development in Colombia. The Committee is part of the National Federation of Coffee Growers of Colombia (FNC), an influential and important institution in the agricultural industry. The coffee industry being one of Colombia’s most important industries alongside mining, the institution oversees the development of the coffee sector and ensures it remains healthy and profitable for everyone.
The company was awarded a notable recognition from the Municipality of Supia as a direct result of its work and contributions toward the improvement and development of the municipality’s infrastructure. Omar Ossma, CEO and President of Collective commented that, “Coffee is one of the main drivers of this region and this alliance is a very important step to promote sustainable coexistence of different economic activities with mining. We are honored to have received this recognition.”
Agricultural and mining ventures are integral to the South-American country, which has a long track record of positive gains in these areas. For Collective, supporting the Coffee Growers Committee of Caldas is a key component of the company’s 2021 ESG initiatives in Caldas. Caldas is well known for its rich coffee culture and is the second largest coffee producing department in the country. With 32,000 families in the department, the coffee industry is an integral part of the local economy and community.
Members of the strategic alliance have invested in the development of local road infrastructure, improving access to water for local communities and supporting the municipality’s coffee producers. The total commitment from members of the alliance is $530,000 for 2021. 1,286 coffee growers covering 1,489 hectares of farmland in the Municipality of Supia will directly benefit as a result of the initiatives put forth by the alliance.
Collective’s (TSXV:CNL) alliance with the Committee and Supia has strengthened its bond with all stakeholders in the region, with Marco Antonio Londono Zuluaga, Mayor of Supia stating, “These are investments that will go directly to our small farmers and rural communities. We are pleased to have the support of Collective Mining in this initiative. It is key to work together and it is key to work as a team. This project demonstrates that responsible mining is possible.”
With trading recently begun on the TSX Venture Exchange, Collective Mining (TSXV:CNL) continues to hit one success after another. The company’s San Antonio project, located 70 km south of Medellin, Colombia, is now advancing with a maiden 5,000 metre drill program. The 100% owned project in Caldas aims to determine the near surface geometry of three targets. Once they have been defined, Collective will begin testing for potential multiple, concealed, mineralized porphyry and breccia bodies. The testing area measures approximately 2 X 1 kilometres. The company expects assay results to be available early in the fourth quarter of 2021, giving investors yet another project update to look forward to.
Located within the Middle Cauca Belt – a 250+ km, north-south trending gold and base-metal belt which hosts multiple porphyry and epithermal discoveries, the San Antonio project covers an area of 3,780 hectares. The
The project incorporates porphyry Cu-Au-Mo mineralization and associated hydrothermal alteration over that wide grid. Porphyry mineralization is now exposed over large areas because of the presence of both sheeted and stockwork vein systems and breccias associated with the multi-kilometre scale Au-Mo-Cu soil anomalies and associated hydrothermal alteration.
Collective (TSXV:CNL) is finally unlocking what other operators of the project could not. Past operators didn’t drill those main porphyry occurrences and instead only targeted high-grade vein style mineralization. That mineralization was located peripheral to the porphyry intrusive centers, but never realized significant results. Collective Mining has now begun drilling on the most promising section of the project, bringing the San Antonio project ever closer to the company’s goals.
Details of the maiden drilling program are as follows (Referenced in Figures 1-4):
Having recently debuted on the TSX Venture Exchange, Collective Mining (TSXV:CNL) is off to a strong start. The first day of trading saw the stock pop 205%, proving that investors are bullish on the management’s direction and the strength of the team leading the charge on both the San Antonio project, and the Guayabales project in the same region (Caldas, Colombia).
Collective Mining (TSXV:CNL) had a big day last Friday, May 28, with a blockbuster IPO that saw the stock pop 205% on the first day of trading. The company’s common shares began trading at the market open on May 28, on the TSX Venture Exchange under the symbol CNL.
As part of its reverse takeover of shell company POCML5, Collective Mining (TSXV:CNL) had raised C$15 million at $1 per subscription receipt. With the share price hitting $3.05 on Friday, the company saw a valuation of C$30.9 million.
Collective’s executive chairman Ari Sussman said, “With the funds from our $15 million subscription receipt financing now released from escrow, we are embarking on an aggressive exploration programme and are excited to unlock the potential of our project over the next 12 months.” The exploration and development company is currently focused on exploring prospective gold projects in South America.
Colombia’s mines minister stated that it was great news to have a new Colombian-focused company listed on the TSX Venture Exchange. The high-level strong support from Colombia is a promising sign of the exciting times to come for Collective, with the minister saying in a joint statement that, “This is yet another endorsement of investors’ trust in the Colombia mining sector.”
Collective’s main directive is to realize its ability to earn a 100% interest in two projects located in Colombia (San Antonio, and Guayabales). With an assembly of superstar management with a track record of successfully selling Continental Gold to Zijin Mining for C$1.4 billion, the company is focused on bulk tonnage porphyry-related systems as opposed to high-grade gold.
This new approach to exploration is not the only change for the group. Collective Mining was founded with environmental, social, and governmental (ESG) principles embedded in the fabric of the company’s guiding philosophy and operational standards. The name of the company is a strong indication of the company’s commitment to collaborative and inclusive management, and a collective commitment to the values that investors prioritize for both stakeholders and investors.
Colombia’s mining sector is well-developed, with strong ancillary mining services, agriculture, and tourism industries helping form a well-rounded economy. As Collective builds strong and profitable porphyry gold projects, the economy and country stand to benefit from the strategic alliance across a myriad of industries.
Collective Mining’s (TSXV:CNL) management track record puts it in a good position to grow over the coming years. As the stock follows suit, investors will likely continue to add more of it to their portfolios as they look for ESG-compliant and focused mining companies. The fact that Collective’s team had such a massive success with the past buyout of Continental Gold also raises the possibility that the company could see a huge payday in the future as it develops it’s projects and revenue streams.
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