Collective drills new oxidized gold-silver zone in Colombia
Collective Mining Ltd. [CNL-TSXV, CNL-NYSE] has announced the discovery of a zone of precious metal-rich oxidized mineralization in the northern portion of the Apollo target area of its Guayabales Project in Caldas, Colombia.
Assay results for seven diamond drill holes, including three new results, include 1.95 g/t gold equivalent (AuEq) (0.75 g/t gold, 87 g/t silver) over 71.20 metres and 1.42 g/t AuEq (0.30 g/t gold, 79 g/t silver) over 56 metres. Collective noted that these new results mixed with previous assays have delineated a new outcropping zone of oxidized gold and silver-rich mineralization tracing a continuous corridor of oxide gold-silver mineralization measuring 700 metres in strike length by 200 metres wide and 100 metres deep. “This footprint remains open in all directions for potential future expansion,’’ the company said in a press release.
The company said follow-up expansion drilling is underway, with fans of holes planned from multiple drill pads. Analysts said the results have potentially defined a new near surface high grade oxide zone that could be included in the upcoming maiden mineral resource estimated that is expected to be announced by the middle of 2027.
On Wednesday, Collective shares rose 1.4% or 21 cents to $15.92. The shares are currently trading in a 52-week range of $21.97 and $8.30.
Guayabales is the company’s flagship project. It is anchored by the Apollo system, which hosts a large-scale bulk-tonnage and high-grade gold-silver-copper-tungsten system.
Drilling at Guayabales is focused on multiple objectives related to the Apollo system, which include defining shallow mineralization, expanding and identifying new high-grade sub-zones and expanding the high-grade Ramp Zone (located at the bottom of Apollo, which begins at surface, and is strongly mineralized over 1,300 metres) at depth and along strike as well as testing new targets across the project area.
“This discovery of a new oxidized zone at the Northern Apollo is a fantastic outcome and another reminder of the amazing fertility of the Apollo system,’’ said Collective Executive Chairman Ari Sussman. “Outlining a potentially robust supergene enriched area right from surface over a broad 700-metre corridor directly north of the large Apollo breccia body may provide additional flexibility for a potential future mining operation and we look forward to swiftly moving ahead in this regard.’’
To date, Collective has completed 178,000 metres of diamond drilling across the Guayabales and nearby San Antonio projects, including 116,000 at the flagship Apollo system. “With US$113 million in cash (as of March 31, 2026), the company is fully funded for its planned 2026 program, which envisions up to 100,000 metres of drilling. The company expects to have 14 diamond drill rigs operating before the end of the second quarter of 2026.
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