Collective Mining Announces Discovery of Additional Gold and Silver Mineralization at Guayabales Projects

Canadian mining company Collective Mining Ltd. (TSX: CNL) earlier this month announced the discovery of high-grade gold and silver rich porphyry style mineralization at its Guayabales Project in the Colombian department of Caldas.

The site, referred to as Box, hosts the same mineralization styles, geochemical footprint, and geology as the nearby Apollo site, and more drilling is planned for April 2024, according to the Toronto-based company.

“Located towards the southwestern end of our 4.5-kilometer porphyry trend, Box is truly a remarkable target,” said Ari Sussman, executive chairman, in a statement. “All the ingredients are in place for a new discovery to be made through drilling considering the large scale of the target area with the abundance of high-grade precious metal samples collected from a combination of porphyry related host rock units.”

In announcing the discovery, the company included these details:

• The Box target is a porphyry centre measuring approximately 1 kilometers by 0.7 kilometer by 0.4 kilometer vertical as defined by soil anomalies for gold, silver, zinc and lead as well as geological mapping and rock chip sampling.
• Multiple mineralization styles have been identified at Box and include porphyry with vein stockwork, brecciated porphyry and extensive zones of sheeted, high-grade, carbonate and base metal veining (“CBM veins”) trending southeast to northwest and east to west. The porphyry bodies at Box host high-grade gold measuring up to 5.18 g/t gold and the sheeted CBM vein systems have returned values up to 55.53 g/t gold, 665 g/t silver and 0.44% copper.
• The Box area has very limited outcrop exposure due to extensive vegetation cover, landslides and historical volcanic ash. Recent landslide activity has exposed four new outcrop zones within several creeks which highlight four new brecciated porphyry bodies with adjacent porphyry vein stockwork and high-grade CBM veins. Reconnaissance work within the streams has identified multiple well mineralized float boulders from other potential sources upstream.
• A previous three-hole scout drilling program in 2021 did not drill test the large target area outlined in this release but indicated that a large hydrothermal fluid system may be in close proximity.
• The mineralization styles, geochemical footprint and geology of Box is identical to that seen at Apollo and recent work highlights that the brecciated porphyry bodies of both porphyry centres are linked as part of a now well-defined east-west structural corridor.

Photo: On site at the Collective Mining project in Colombia. (Credit: Loren Moss)