Collective Mining Expands Apollo by up to 150 Metres to the Northwest by Drilling 513.70 Metres at 2.20 g/t AuEq and 825.70 Metres at 1.11 g/t AuEq
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- Drill hole APC-95 was drilled northerly from Pad 14 and encountered outstanding continuous mineralization while expanding the Apollo System ("Apollo") locally to the north by 50 metres. On a gram X metre basis, APC-95 is the sixth highest-grade intercept at Apollo yielding 1,128 g/t AuEq. Additionally, APC-95 is the eleventh gram X metre intercept at more than 1,000 g/t AuEq drilled to date at Apollo (see Table 2). Assay results for APC-95 are as follow:
- 513.70 metres @ 2.20 g/t gold equivalent from 207.20 metres including:
- 116.95 metres @ 4.88 g/t gold equivalent from 295.40 metres
- Drill hole APC-97, which was drilled to the northwest from Pad 14, cut the second longest intercept drilled to date at Apollo (825.70 metres) while materially expanding the dimensions of the Apollo system to the northwest by 150 metres and encountering high-grade near the bottom of the hole. Apollo remains completely open in this direction for further growth with future step-out holes planned in this regard. Assay results for APC-97 are as follows:
- 825.70 metres @ 1.11 g/t gold equivalent from 192.00 metres including:
- 105.25 metres @ 2.02 g/t gold equivalent from 205.30 metres, and;
- 74.90 metres @ 2.06 g/t gold equivalent from 479.10 metres, and;
- 54.55 metres @ 1.97 g/t gold equivalent from 825.05 metres, and;
- 18.05 metres @ 2.46 g/t gold equivalent from 909.30 metres
- Partial results for the shallow portion of drill hole APC-93 were previously released where the Company drilled a long and continuous high-grade intercept through Apollo (see press release dated
March 12, 2024 ). Final results for hole APC-93 are now in hand with the Company intersecting Olympus Deep mineralization approximately 125 meters east of discovery hole APC88-D1 (202.35 metres @ 2.16 g/t AuEq; see press release datedJanuary 30, 2024 ) with results as follows:
-
- 560.05 metres @ 1.83 g/t gold equivalent from 127.25 metres (Apollo; previously released)
- 34.90 metres @ 1.10 g/t gold equivalent from 788.10 metres (Olympus)
- 42.00 metres @ 0.79 g/t gold equivalent from 898.00 metres (Olympus)
- 66.50 metres @ 1.18 g/t gold equivalent from 1,036.75 metres (Olympus) including:
-
-
- 16.75 metres @ 2.48 g/t gold equivalent from 1,049.15 metres.
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Table 1: Assays Results for Drill Holes APC-93, APC-95 and APC-97
Hole # |
From |
To |
Length |
Au |
Ag |
Cu |
Mo |
WO3 |
AuEq |
APC-93 |
127.25 |
687.30 |
560.05 |
1.18 |
34 |
0.13 |
4 |
52 |
1.83** |
and |
788.10 |
823.00 |
34.90 |
0.98 |
8 |
0.03 |
16 |
7 |
1.10 |
and |
898.00 |
940.00 |
42.00 |
0.72 |
4 |
0.02 |
25 |
7 |
0.79 |
and |
1,036.75 |
1,103.25 |
66.50 |
1.12 |
5 |
0.02 |
19 |
6 |
1.18 |
incl |
1,049.15 |
1,065.90 |
16.75 |
2.40 |
9 |
0.02 |
22 |
6 |
2.48 |
APC-95 |
5.75 |
23.75 |
18.00 |
0.96 |
17 |
0.03 |
3 |
14 |
1.18 |
and |
92.65 |
103.65 |
11.00 |
1.01 |
5 |
0.03 |
5 |
5 |
1.09 |
and |
207.20 |
720.90 |
513.70 |
1.50 |
42 |
0.18 |
3 |
8 |
2.20 |
incl |
295.40 |
412.35 |
116.95 |
3.73 |
76 |
0.26 |
2 |
10 |
4.88 |
APC-97 |
192.00 |
1,017.70 |
825.70 |
0.83 |
15 |
0.09 |
4 |
8 |
1.11 |
incl |
205.30 |
310.55 |
105.25 |
0.78 |
52 |
0.48 |
9 |
18 |
2.02 |
& incl |
479.10 |
554.00 |
74.90 |
1.81 |
19 |
0.05 |
5 |
7 |
2.06 |
& incl |
825.05 |
879.60 |
54.55 |
1.91 |
7 |
0.02 |
1 |
8 |
1.97 |
& incl |
909.30 |
927.35 |
18.05 |
2.37 |
11 |
0.03 |
2 |
7 |
2.46 |
|
*AuEq (g/t) is calculated as follows: (Au (g/t) x 0.97) + (Ag (g/t) x 0.014 x 0.88) + (Cu (%) x 1.47 x 0.90) + (Mo (%) x 7.41 x 0.85) + (WO3 (%) x 5.47 x 0.72) utilizing metal prices of Cu – |
|
**Previously announced on |
The robustness of the
Table 2: Apollo Drill Holes at More Than 1,000 g/t Gold Equivalent on a Gram X Metre Basis
Ranking |
Hole ID |
From |
To (m) |
Length |
Grade (g/t AuEq)* |
Gram x |
Press Release Date |
1 |
APC-72 |
2.00 |
521.10 |
519.10 |
2.74 |
1,424.29 |
|
2 |
APC-55 |
0.00 |
792.25 |
792.25 |
1.71 |
1,352.93 |
|
3 |
APC-64 |
33.40 |
484.80 |
451.40 |
2.67 |
1,205.24 |
|
4 |
APC-35 |
7.00 |
366.15 |
359.15 |
3.32 |
1,192.38 |
|
5 |
APC-60 |
41.60 |
599.45 |
557.85 |
2.10 |
1,171.49 |
|
6 |
APC-95 |
207.20 |
720.90 |
513.70 |
2.20 |
1,128.17 |
New ( |
7 |
APC88-D2 |
68.10 |
617.00 |
548.90 |
1.91 |
1,049.54 |
|
8 |
APC-93 |
127.25 |
687.30 |
560.05 |
1.83 |
1,026.08 |
|
9 |
APC-53 |
232.95 |
562.70 |
329.75 |
3.10 |
1,022.23 |
|
10 |
APC-65 |
0.00 |
503.25 |
503.25 |
2.00 |
1,006.52 |
|
11 |
APC-63 |
0.00 |
593.65 |
593.65 |
1.69 |
1,003.27 |
|
*See individual press releases on aforementioned dates for AuEq calculations. |
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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, a strategic investor and close family and friends own nearly 50% 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".
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.
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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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