Collective Mining Ltd has officially announced assay results for eight diamond drill holes. According to certain reports, the stated announced happens to be headlined by how the company’s Olympus and Apollo systems are now connected into one large system. To give you some context, Apollo is part of the Collective Mining’s Guayabales Project located in Caldas, Colombia, with the company enjoying five drill rigs operating at the Guayabales Project. You see, the Guayabales Project in question hosts the large-scale, bulk-tonnage and high-grade copper-silver-gold-tungsten Apollo porphyry system. Anyway, not just that, Collective Mining has also completed more than 50% of its fully funded 40,000-meter program for 2024. More on the newly-published results will reveal that drill holes PZC-3, mother hole APC98-D, and its series of subset directional drill holes collared from OPad5 approximately 400 meters laterally to the north of the current Apollo model and within the Olympus target area, Furthermore, they intersected multiple shallow mineralized brecciated porphyry fingers commencing from approximately 25 meters below surface and continuing southwards to the northern edge of the previously defined Apollo system. Markedly enough, this is the first time that shallow brecciated porphyry mineralization has been discovered beyond outcropping portion of the Apollo model, its location being somewhere around 400 meters to the southwest. Next up, going back to Olympus and Apollo systems now connected into one large system, the by-product of that should now cover approximately 1,000 meters by 800 meters, and it is still open for further growth. On top of that, we must acknowledge how gold dominant plus silver, copper and tungsten metal systems in this large area are hosted in three superimposed mineralization styles, which include stockwork and brecciated porphyries plus overprinting and multi-directional trending, as well as late-stage precious metal rich sheeted porphyry veinlets.
Another detail revealed in these results was that holes connecting Olympus and Apollo with OPad5 include 220.60 meters @ 1.07 g/t gold equivalent from 145.30 meters (APC98-D1), 256.35 meters @ 1.23 g/t gold equivalent from 30.60 meters (APC98-D2), and 50.10 meters @ 1.20 g/t gold equivalent from 95.95 meters (PZC-3).
“Confirming that Olympus and Apollo are in fact one much larger combined system (Apollo) is pleasing and opens the door for expanded future exciting scenarios in terms of mineral endowment growth and development opportunities. We have two rigs focused on Apollo presently and will now look to expand the system northwards past its known limits while continuing to focus on defining and growing higher grade subzones within the existing block model. I remain steadfastly confident that aggressive exploration efforts at Guayabales Project will evolve into a large-scale precious metal rich camp,” said Ari Sussman, Executive Chairman of Collective Mining.
Moving on, the updated Apollo model, which by the way, covers the portion of the mineralization that has been wire-framed, now traverses across significantly expanded volume, measuring up to 600 meters of strike by 395 meters of width, along with a 1,130 meters worth of vertical. However, it still remains open for expansion in most directions. Mineralization at Apollo daylights has now also been drilled up to 1,130 meters below surface. As for the newly-integrated model, it now encompasses the southern portion of the newly discovered and integrated system. Having said that, there are plans already in place to aggressively expand Apollo in a northerly direction, while simultaneously continuing to target high-grade subzones inside the wire-framed portion of the system.
Among other things, the stated results would reveal how exploratory hole APC-94 was drilled due east from Pad14 on the eastern side of the model for Apollo and intersected only the low-grade and peripheral halo zone hosting some individual, sporadic and moderate grade veinlets. On the other hand, APC-96 was drilled at a shallow angle from OPad5 to the south, and as a result, drilled above the interpreted mineralized zone in this area.
