Collective Mining expands 2025 drilling to 70,000 metres at Guayabales and San Antonio projects, Colombia
Collective Mining Ltd. [NYSE: CNL; FSE: GG1] provided plans for an expanded drill program following the successful completion of its recent financing for $63.4 million. With a robust treasury totalling more than US$78 million, the company is more than fully financed for an expanded 70,000-metre drill program in 2025.
The revised program will now include up to 10 diamond drill rigs in operation across the Guayabales and San Antonio projects, Colombia, and will be the largest in the history of the company. Additionally, the company will accelerate baseline environmental, hydrological and metallurgical studies so that permitting could begin in the future at a faster pace than originally envisioned.
Ari Sussman, executive chairman, commented: “The Apollo system, which is the most important discovery to date within the company’s Guayabales project, has emerged as an important large-scale, bulk-tonnage and high-grade system generated from grassroots exploration. We continue to believe that Apollo is the tip of the iceberg within the Guayabales project and that further discoveries will come with aggressive drilling and perseverance. The fact that our San Antonio project is now potentially showing its porphyry potential is a welcome surprise. We look forward to receiving drill hole assay results across the portfolio in the near term and are excited to unlock more value in this regard.”
Up to eight rigs will be focused on drilling the Guayabales project for the balance of 2025 to achieve various objective.
Apollo system: Being the company’s flagship discovery, up to seven rigs will be in operation.
Tower, ME, X and Trap targets: Up to two diamond drill rigs will be utilized to test these targets at various points over the balance of the calendar year.
San Antonio project overview: The company commenced drilling at the San Antonio project in late January, 2025 as part of a budgeted initial 2,500-metre program.
Collective is a gold, silver, copper and tungsten exploration company with projects in Caldas, Colombia. The company has options to acquire 100% interests in two projects located directly within an established mining camp with 10 fully permitted and operating mines.
The company’s flagship project, Guayabales, is anchored by the Apollo system, which hosts the large-scale, bulk-tonnage and high-grade gold-silver-copper-tungsten Apollo system. The company’s objectives are to improve the overall grade of the Apollo system by systematically drill testing newly modelled, potentially high-grade subzones; expand the Apollo system by stepping out along strike to the north and expanding the newly discovered high-grade Ramp zone along strike and to depth; expand the Trap system; and drill a series of newly generated targets, including Tower and X.