Collective Mining discovers new tungsten-enriched high-grade subzone 300 metres below surface at Apollo system, Guayabales Project, Colombia
Collective Mining Ltd. [NYSE: CNL; TSX: CNL] reported result for 11 holes as part of the 2026 drilling program at the Guayabales and San Antonio projects located in Caldas, Colombia.
Ari Sussman, Executive Chairman, commented: “These results reinforce the exceptional scale and depth potential of the Apollo system. The discovery of a new high-grade, tungsten-enriched subzone beginning 300 metres below surface, distinct from and well below the near-surface tungsten zone, demonstrates that Apollo continues to grow in both size and metal endowment with virtually every hole we drill. With 13 rigs turning and a fully funded 2026 program, we are well positioned to continue expanding the Apollo system in multiple directions.”
To date, Collective has completed 184,000 metres of diamond drilling across the Guayabales and San Antonio projects, including 120,000 metres at the flagship Apollo system, which anchors the Guayabales Project.
With US$113.3 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 presently has 13 diamond drill rigs operating across the Guayabales Project.
Drill hole APC-162, collared from Pad31 and directed to the southwest, was designed as the initial follow-up hole to test for a potential up-dip extension to the Tungsten rich subzone initially intersected in hole APC107-D5, which returned 28.45 metres at 0.80% WO3. APC-162 cut high-grade mineralization with observable coarse scheelite, chalcopyrite, sporadic sphalerite and galena as follows: 27.35 metres at 37.55 g/t gold equivalent (1.68% WO3, 11.62 g/t Au, 54 g/t Ag, 0.43% Cu) from 300 metres below surface.
This newly identified tungsten enriched subzone remains open down-dip along the Apollo breccia body eastern contact margin, with follow up drilling expected to commence shortly.
Drill hole APC160-D1 is the initial directional drill hole collared from mother hole APC-160D from Pad27 and was directed to the north on the breccia’s western margin. The hole meaningfully expanded the breccia body by 77 metres to the northwest at 900 metres below surface with assay results as follows: 28.80 metres at 1.67 g/t gold equivalent.
APC160-D1 also intersected infill mineralization along the western margin of the breccia body with results as follows: 116.25 metres at 1.41 g/t gold equivalent from 647m below surface including 15.15 metres at 2.36 g/t gold equivalent and 17.35 metres at 4.75 g/t gold equivalent and 51.05 metres at 1.00 g/t gold equivalent from 800 metres below surface.
Two holes, APC-167D and APC-162, were drilled into diorite host rock to the north and outside the main breccia body to improve confidence in the lower grade halo mineralization surrounding the main Apollo breccia body. Both holes intersected sheeted veinlet mineralization with better grades than the existing internal block model, with assay results as follows: 58.00 metres at 1.03 g/t gold equivalent from 418 metres below surface including 7.15 metres at 3.76 g/t gold equivalent (APC-167D); 6.70 metres at 3.90 g/t gold equivalent from 223 metres below surface and 13.00 metres at 6.47 g/t gold equivalent from 264m below surface (APC-162).
Holes APC160-D2, APC169-D1, APC169-D2 and APC-173 were exploratory in nature and failed to intersect any significant mineralization other than thin modest grading individual veinlets.
Four exploratory drill holes (SAC-36, SAC-37, SAC-38 and SAC-39) were collared from Pad15 and Pad16 at the Dollar target, which locates in the southern portion of the San Antonio Project approximately 700 metres to the south of the deep porphyry discovery made at the Pound target. Modest porphyry-related vein mineralization was encountered in two of the holes with assay results as follows: 0.90 metres at 962 g/t Ag, 0.98 g/t Au, 0.15% Cu and 0.58% Zn from 101.40 metres down hole and 2.00 metres at 14.15 g/t Au from 471.35 meters down hole (SAC-36); 29.20 metres at 1.28 g/t Au, 11 g/t Ag and 0.30% Zn from 246.30 metres down hole, including 5.95 metres at 3.51 g/t Au, 1.03% Zn from 269.55 metres down hole (SAC-39).
The company is evaluating the San Antonio Project to assess its exploration potential and define priority targets ahead of future field work.
Founded by the team that developed and sold Continental Gold Inc. to Zijin Mining for approximately $2 billion in enterprise value, Collective is a gold, silver, copper and tungsten exploration company with projects in Caldas, Colombia. The company’s two projects are located directly within an established mining camp with ten 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 at the Guayabales Project are to expand the newly discovered high-grade Ramp Zone along strike and to depth, drill test the new outcropping Northern Apollo Oxidized area, drill the recently granted license covering the northwestern extension of the Trap target, and drill a series of greenfield generated targets across the property.
Management, insiders, a strategic investor and close family and friends own 45.2% of the outstanding shares of the company.
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