Collective Mining Drills 154-Meter High-Grade Gold Interval in Colombia

en.Wedoany.com Reported - On November 3, mining exploration company Collective Mining announced the latest drilling results from the Apollo deposit at its Guayabales project in Caldas Department, Colombia. Hole APC174-D4 in the Ramp high-grade zone intersected a continuous mineralized interval of 154.30 meters at a gold equivalent grade of 12.66 g/t approximately 1,208 meters below surface, including a high-grade sub-interval of 30.45 meters at 39.01 g/t gold equivalent, marking the widest high-grade drilling intercept recorded at the deposit to date.

Hole APC174-D4 passed through the southeastern mineralized zone of the Apollo breccia body. The 154.30-meter interval graded 12.44 g/t gold and 11 g/t silver. Within this, the 30.45-meter high-grade sub-interval graded 38.47 g/t gold and 28 g/t silver; a deeper 4.75-meter interval returned 184.25 g/t gold equivalent, corresponding to 182.27 g/t gold and 102 g/t silver.

Actual gold equivalent grades in certain intervals of this hole exceeded the estimated values for the corresponding blocks in the existing mineral resource model by more than 75%. The drilling results extended the previously predicted high-grade mineralization at this location approximately 20 meters toward the shallow direction and approximately 30 meters toward depth. The entire 30.45-meter high-grade sub-interval lies below the previously predicted high-grade zone, where the resource model originally estimated a gold equivalent grade of approximately 1 g/t.

Hole APC174-D4 was still within the mineralized zone when it reached the drill rig's rod capacity limit, terminating at a downhole depth of 601.95 meters, with the end-of-hole interval at an elevation of approximately 650 meters. The final 12.20-meter interval graded 0.75 g/t gold equivalent and lies outside the current mineral resource estimate. The company plans to use a crawler-mounted drill rig with greater drilling capacity to continue tracing the mineralized zone at depth.

Hole APC174-D1, assayed during the same period, intersected a 3.05-meter interval grading 9.10 g/t gold equivalent approximately 1,262 meters below surface, including 4.70 g/t gold, 0.34% copper, and 0.25% tungsten trioxide. Hole APC174-D2 intersected a 19.90-meter interval grading 3.97 g/t gold equivalent at a depth of approximately 1,350 meters. APC174-D1 also extended the interpreted eastern contact boundary of the breccia body by approximately 21 meters.

Other holes northeast of APC174-D4 recorded sulfide mineralization similar to the Ramp zone. Holes APC174-D7, APC164-D5, and APC180-D4, located approximately 80 meters, 180 meters, and 240 meters away respectively, showed visible gold in core observations; hole APC180-D3, approximately 410 meters away, intersected visible gold and scheelite, with assay results for these holes still pending.

Collective Mining currently has 13 diamond drill rigs deployed at the Guayabales project, and the first crawler-mounted drill rig for deep exploration has commenced on-site operations. The company plans to begin construction of an approximately 3-kilometer underground exploration adit in November 2026 to access the Ramp high-grade zone at an elevation of approximately 700 meters. Deep drilling will continue in 2027, with an updated mineral resource estimate planned for release in Q4 2027 to Q1 2028, followed by a preliminary economic assessment.