Collective Mining posts Guayabales Project drill results, Colombia

Collective Mining Ltd. [NYSE: CNL; TSX: CNL] reported assay results for 12 diamond drill holes at the Guayabales Project, Colombia. Three directional diamond holes tested the Ramp Zone on the previously undrilled, western margin of the Apollo breccia body while the remaining nine holes tested various gaps in the company’s internal block model within the top 1,100 metres of the Apollo system.

Three exploratory drill holes, covering approximately 70 metres of lateral extent by 205 vertical meters of volume, have returned multiple high-grade gold intercepts on the previously untested western margin of the Ramp Zone within the Apollo breccia body: 23.15 metres at 4.61 g/t gold and 11 g/t silver from 1,163 metres below surface (APC140-D5); 5.30 metres at 37.04 g/t gold and 28 g/t silver from 1,090 metres below surface (APC140-D6) and 8.60 metres at 6.51 g/t gold and 13 g/t silver from 1,316 metres below surface (APC140-D7).

To date, only 385 metres of the projected 1,500-metre circumference of the cone shaped, Apollo Breccia body has been drill tested for Ramp Zone style mineralization. In 2026, the company intends to broadly test the 1,500-meter circumference of the breccia body in its entirety with seven drill rigs dedicated exclusively to this task.

Four drill holes targeting various undrilled segments of the shallower portion of the Apollo breccia body, intersected broad zones of mineralized breccia, including 232.70 metres at 1.80 g/t AuEq from 423 meters below surface including 45.00 metres at 3.50 g/t AuEq and 32.80 metres at 3.57 g/t AuEq (APC151-D1) and 160.15 metres at 2.03 g/t AuEq from 467 metres below surface, including 21.10 metres at 4.62 g/t AuEq and 24.80 metres at 4.42 g/t AuEq (APC151-D2).

Ramp is located at the base of the Apollo system starting at approximately 1,100 metres below surface and is ideally positioned at the same elevation where an envisioned underground adit would access the mineralization in a potential future mining operation.

Apollo is a large, partially reduced intrusion related system enriched in gold, silver, copper and tungsten. Drilling to date at Apollo has outlined continuous mineralization from surface to, as of today, more than 1,450 vertical metres. Apollo anchors the company’s flagship Guayabales Project, a district-scale, multi-target and infrastructure-rich project in Caldas, Colombia.

Ari Sussman, Executive Chairman, commented: “We are extremely excited by these maiden drill results into the Ramp Zone on the previously untested western side of the Apollo breccia body. Returning multiple high-grade gold intercepts, including a spectacular 5.3 metres at 37 g/t gold, at depths of more than 1,100 metres clearly demonstrates that the Ramp Zone is not only now present on the western side of Apollo, but that the system is capable of producing high-grade gold in this location as wel

“With only 385 metres of the projected 1,500-meter circumference tested to date, the potential to expand this high-grade zone along strike and to depth is substantial. These results reinforce our belief that the Ramp Zone will play a pivotal role in the future development of Apollo, and we look forward to testing the entire circumference with seven dedicated drill rigs in 2026.”

Holes APC140-D5, APC140-D6 and APC140-D7 were drilled as exploratory, wedge directional holes from mother hole APC-140D (Pad 29) and were angled in southwesterly directions to test the western margin of the Apollo breccia body for Ramp Zone style mineralization.

All three drill holes intersected high-grade Ramp Zone style mineralization characterized by albite, muscovite and sericite alteration, and gold associated with anomalous bismuth and tellurium values. The holes covered approximately 70 metres of lateral extent along the western margin of the Apollo breccia body by 205 meters vertical (up to 1,300 meters below surface) with mineralization remaining open in all directions. Assay results for APC140-D5, APC140-D6 and APC140-D7 are as follows: 23.15 metres at 4.61 g/t gold and 11 g/t silver from 396.15 metres (beginning at 1,163 meters below surface) (APC140-D5); 5.30 metres at 37.04 g/t gold and 28 g/t silver from 384.00 meters (beginning at 1,090 metres below surface) (APC140-D6) and 8.60 metres at 6.51 g/t gold and 13 g/t silver from 586.55 metres (beginning at 1,316 metres below surface) (APC140-D7).

When combined with previously reported drilling along the southeast margin of the cone-shaped breccia body, only 385 metres of the projected 1,500-metre circumference of the Apollo breccia body at depth has been drill tested to date for Ramp Zone style mineralization. In 2026, the company intends to broadly test the 1,500-meter circumference of the breccia body in its entirety with seven drill rigs dedicated exclusively to this task.

Interestingly, in the shallower portion of holes APC140-D6 and APC140-D7, at elevations ranging between 1,050 and 1,100 MASL, continuous zones of low-grade Ramp Zone style mineralization (minor gold, bismuth and tellurium) were intersected along the northwestern flank of the breccia body, with results as follows: 26.90 metres at 1.23 g/t gold and 12 g/t silver from 139.00 metres (beginning at 927 metres below surface) (APC140-D5) and 12.05 metres at 1.16 g/t gold and 5 g/t silver from 183.85 metres (beginning at 966 metres below surface) (APC140-D7).

As a result of these intercepts, coupled with previously announced intercepts at similar elevations along the northern margin of the Apollo breccia body, the company is confident in its chances of finding higher-grade Ramp Zone style mineralization at deeper elevations along this contact as the current drilling is interpreted to be too shallow. The first hole designated to test the northern flank of the breccia body at deeper elevations for Ramp Zone style mineralization is now underway.

One additional deep-capacity diamond rig is now drilling to test the northern margin of the breccia body for Ramp Zone style mineralization, with a seventh rig anticipated to arrive on site prior to the end of May. In total, the Company expects to have 14 diamond drill rigs operating before the end of Q2, 2026.

To date, Collective has completed 177,000 metres of diamond drilling across the Guayabales and San Antonio projects, including 115,000 metres at the flagship Apollo system.

With US$129.6 million in cash (as of December 31, 2025), the company is fully funded for its planned 2026 program, which envisions up to 100,000 metres of drilling.

The Ramp Zone is classified as a reduced intrusion-related gold system with similarities, in terms of mineralogy, to the nearby Marmato Deeps deposit, owned by Aris Mining. Located just 1.75 km apart, both the Ramp and Marmato Deep systems begin at approximately the same elevation and host very similar gold-and-silver-bearing sulphide assemblages.

At Ramp Zone, mineralization occurs with pyrite and pyrrhotite, accompanied by minor bismuth, tellurium, and locally arsenopyrite bearing sulphides, hosted in veinlet stockworks, cracks and miarolitic cavities of the breccia body. Alteration is dominated by muscovite, albite, and sericite.

A key distinguishing feature of Ramp Zone style mineralization is the significantly higher gold grades reported compared with those previously announced at Marmato Deeps. The company attributes this superior grade profile primarily to the host rock: mineralization at the Ramp Zone is emplaced within a porous crackle breccia matrix, which provides greater permeability for metal-bearing fluids compared to the porphyry host rock at Marmato Deeps.

Upper Apollo Drill Holes: Four directional holes collared from mother holes APC-151D were drilled to the southwest from Pad31 and targeted various gaps in the company’s internal block model within the top 1,000 meters of the Apollo system.

Results from this drilling have improved the localized block model grades by up to 15%, locally extended the volume of the eastern margin of the mineralized breccia body by up to 25 metres (horizontal and vertically) and upgraded confidence in the estimation by infilling various gaps.

Assay results for these four holes are as follows: 232.70 metres at 1.80 g/t gold equivalent from 106.55 metres (beginning at 423 meters below surface) (APC151-D1), including 45.00 metre at 3.50 g/t gold equivalent from 184.60 metres; 32.80 metres at 3.57 g/t gold equivalent from 306.45 metres and 52.90 metres at 1.31 g/t gold equivalent from 643.50 meters (beginning at 899 metres below surface); 160.15 metres at 2.03 g/t gold equivalent from 123.45 metres (beginning at 467 meters below surface) (APC151-D2), including 21.10 metres at 4.62 g/t gold equivalent from 139.65 metres; 24.80 metres at 4.42 g/t gold equivalent from 240.00 metres; 80.35 metres at 1.20 g/t gold equivalent from 196.00 metres (beginning at 517 metres below surface) (APC151-D3); 1.20 metres at 22.64 g/t gold equivalent from 189.80 metres (beginning at 531 metres below surface) (APC151-D4) and 1.05 metres at 7.62 g/t gold equivalent from 512.10 meters (beginning at 885 metres below surface) and 7.40 metres at 4.77 g/t gold equivalent from 516.85 metres (beginning at 890 metres below surface).

Two drill holes, directional mother-hole APC-151D and hole APC-168, drilled east and outside the main brecciated portion of the Apollo system, intersected near surface gold and silver mineralization in the Hanging Wall Vein Zone returning 2.10 metres at 2.96 g/t gold equivalent from 97.00 meters (APC-151D) and
1.20 metres at 4.36 g/t gold equivalent from 234.45 metres and 3.15 metres at 3.63 g/t gold equivalent from 238.65 metres and 2.00 metres at 230 g/t silver equivalent from 45.95 metres (APC-168).

Exploratory drill holes APC-163, APC-166 and APC-170 were drilled from Pad 32 (located north of the Apollo system) to the northeast, southwest, and northwest respectively and cut discrete gold and silver rich polymetallic veins with results including 2.05 metres at 299 g/t silver equivalent from 26.65 meters (APC-163)
1.25 metres at 3.08 g/t gold equivalent from 140.05 metres; 1.20 metres at 14.87 g/t gold equivalent from 315.00 metres (APC-170) and 1.50 metres at 4.10 g/t gold equivalent from 331.70 metres.

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 Hanging Wall Vein Zone and drill a series of greenfield generated targets on the property.

Management, insiders, a strategic investor and close family and friends own 45.3% of the outstanding shares of the company.