Canadian mining company Collective Mining Ltd. (TSXV: CNL) (OTCQX: CNLMF) has announced drilling results with “impressive high-grade mineralization” and a “meaningful strike length” at its Apollo porphyry system in Caldas, Colombia.
The company, which highlights the system’s rare high-grade and bulk tonnage copper gold silver system, originally announced the discovery hole at Apollo in June 2022 as part of its Guayabales project and has since completed 18,978 meters of drilling and 49 drill holes.
In its most recent announcement, the company outlined results from three holes (APC-45, APC-47, and APC-48) as well as visual observations from two long drill holes (APC-49 and APC-55).
The following are listed as the most notable findings from the results:
- Drill hole APC-45 (which is the first hole into the contact zone in the southernmost part of the Apollo porphyry system from Pad 7) intersected an abundance of sheeted CBM veins overprinting earlier porphyry mineralization. The contact zone contains excellent gold, silver, and copper grades associated with the sulfide matrix and overprinting quartz-carbonate and sulfide veining.
- Hole APC-47 was drilled in an easterly direction from Pad 4 in order to cut across the system in an area of the block model with limited information. A long and continuous interval of high-grade gold-silver and copper mineralization was intersected.
- Hole APC-48 was drilled to the southwest from Pad 7 and successfully expanded the overall footprint of the shallow mineralization to the southwest. Interestingly, the hole exited the brecciated portion of the Apollo porphyry system and continued to the end of the interval in a mineralized precursor porphyry unit.
- Two drill holes, APC-49 and APC-55 were designed to explore the depth potential of the Apollo system from Pad 6 to the northeast and northwest respectively. Detailed visual logging of both holes indicates that long and continuous zones of mineralization were encountered from surface to downhole depths of 840 meters and 790 meters respectively. APC-49 was terminated while still in mineralization due to a drilling-related issue while APC-55 will expand the dimensions of the Apollo system to the northeast if it is mineralized to the end of the interval.
“The contact zone at the Apollo system continues to intercept impressive high-grade mineralization and importantly can now be traced over a meaningful strike length,” said Ari Sussman, executive chairman of Collective Mining, in a statement.
“June 2023 is shaping up to be an exciting and important month for the company with assay results expected for Contact Zone drill hole APC-53 and deep holes APC-49 and APC-55,” said Sussman. “Additionally, our aggressive exploration focus will expand with a fourth rig scheduled to arrive on site in late June. This rig will be designated to systematically test exploration targets surrounding the Apollo porphyry system and the greater Guayabales project.”