Collective Mining Discovers a High-Grade Outcropping Porphyry System at the Box Target; Drilling to Begin in April
Collective Mining Discovers a High-Grade Outcropping Porphyry
System at the Box Target; Drilling to Begin in April
Toronto, Ontario, March 6, 2024 - Collective Mining Ltd. (TSX: CNL, OTCQX: CNLMF, FSE: GG1)
(“Collective” or the “Company”) is pleased to announce the discovery of high-grade gold and silver
rich porphyry style mineralization at the Box target (“Box”) within the Guayabales Project in Caldas,
Colombia. Box is located approximately 1.3 kilometres west of the Apollo porphyry system (“Apollo”)
and hosts the same mineralization styles, geochemical footprint and geology as Apollo. An extensive
sampling program was recently completed at Box with results outlined in this release.
Ari Sussman, Executive Chairman commented: “Located towards the southwestern end of our 4.5 -
kilometre porphyry trend, Box is truly a remarkable target. 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.
Our reconnaissance exploration team deserves much credit for discovering this new target and we
look forward to commencing drilling in April 2024.”
Please click here to watch a video hosted by David Reading, Special Advisor to the Company and a
QP under NI 43 -101 of a recent field visit to Box outlining the various styles of geology and
mineralization in the target area.
Highlights (see Table 1 and Figures 1-3)
• The Box target is a porphyry centre measuring approximately 1 kilometre by 0.7 kilometre by
0.4 kilometre vertical as defined by soil anomalies for gold, silver, zinc and lead as well as
geological mapping and rock chip sampling (see Figure 1).
• Multiple minerali zation 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 w est. 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 (see Table 1).
• 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 breccia ted 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 m ay 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.
• The Company is currently constructing pads to commence drill testing these targets with the
first hole scheduled to start in April 2024.
Table 1: Rock Chip and Channel Sample Results From The Box Target
Sample ID Au (g/t) Ag (g/t) Cu (%) Zone Mineralization Style
R8505 55.53 50 0.06 2 CBM Sheeted Veins
R8298 21.41 665 0.44 2 CBM Sheeted Veins
CM68 14.8 176 0.04 2 CBM Sheeted Veins
CM77 9.62 254 0.07 2 CBM Sheeted Veins
R8655 5.55 74 0.06 3 CBM Sheeted Veins
R8668 5.34 145 0.15 2 Porphyry Stockwork
CM2560 5.18 7 0.03 4 Porphyry Stockwork
CM112 5.14 239 - 2 CBM Sheeted Veins
CM382 4.96 73 0.02 1 CBM Sheeted Veins
CM1310 4.73 254 - 3 Brecciated porphyry
CM1335 4.46 167 - 3 CBM Sheeted Veins
R8511 4.16 258 0.15 2 Brecciated porphyry
R8512 3.97 315 0.20 2 Brecciated porphyry
CM1347 3.94 142 - 3 Porphyry Stockwork
CM248 3.55 58 - 3 Porphyry Stockwork
CM1342 3.33 184 - 3 Porphyry Stockwork
CM1338 3.31 29 - 3 Porphyry Stockwork
CM2575 3.25 4 - 4 Porphyry Stockwork
R8437 3.19 135 - 1 Porphyry Stockwork
CM1345 3.14 158 - 3 Porphyry Stockwork
CM1313 3.06 21 - 4 Porphyry Stockwork
Figure 1: Plan view of the Box Target as Defined by Soil Anomalies, Rock Chip Samples and
Surface Geology Mapping
Figure 2: Surface Rock Photos Highlighting the Various Mineralization Styles at the Box Target
Figure 3: Plan View of the Guayabales Project Highlighting the Box Target
About Collective Mining Ltd.
To see our latest corporate presentation and related information, please visit
www.collectivemining.com
Founded by the team that developed and sold Continental Gold Inc. to Zijin Mining for
approximately $2 billion in enterprise value, Collective is a copper, silver, gold and tungsten
exploration company with projects in Caldas, Colombia. The Company has opt ions to acquire
100% interests in two projects located directly within an established mining camp with ten fully
permitted and operating mines.
The Company’s flagship project, Guayabales, is anchor ed by the Apollo system, which hosts the
large-scale, bulk -tonnage and high- grade copper -silver- gold-tungsten Apollo porphyry system.
The Company’s near -term objective is to drill the shallow portions of the Apollo system, continue
to expand the overall dimensions of the system, which remains open in most directions and test
newly generated grassroots targets.
Management, insiders and close family and friends own nearly 43 % of the outstanding shares of
the Company and as a result, are fully aligned with s hareholders. The Company is listed on the
TSX under the trading symbol “CNL”, on the OTCQX under the trading symbol “CNLMF” and on
the FSE under the trading symbol “GG1”.
Qualified Person (QP) and NI43 -101 Disclosure
David J Reading is the designated Qualified Person for this news release within the meaning of
National Instrument 43 -101 (“NI 43- 101”) and has reviewed and verified that the technical
information contained herein is accurate and approves of the written disclosure of same. Mr.
Reading has an MSc in Economic Geology and is a Fellow of the Institute of Materials, Minerals
and Mining and of the Society of Economic Geology (SEG).
Technical Information
Rock, soils and core samples have been prepared and analyzed at ALS and SGS laboratories
facilities in Medellin, Colombia and Lima, Peru. Blanks, duplicates, and certified reference
standards are inserted into the sample stream to monitor laboratory performance. Crush rejects
and pulps are kept and stored in a secured storage facility for fut ure assay verification. No capping
has been applied to sample composites. The Company utilizes a rigorous, industry -standard
QA/QC program.
Information Co ntact:
Follow Executive Chairman Ari Sussman (@Ariski73) on X
Follow Collective Mining (@CollectiveMini1) on X, (Collective Mining) on LinkedIn, and
(@collectivemining) on Instagram
Investors and Media
Paul Begin , Chief Financial Officer
+1 (416) 451 -2727
FORWARD-LOOKING STATEMENTS
This news release contains “forward- looking information” within the meaning of the applicable
Canadian securities legislation. All statements, other than statements of historical fact, are
forward-looking information and are based on expectations, estimates and projections as at the
date of this news release. Any statement that involves discussion with respect to predictions,
expectations, beliefs, plans, projections, objectives, assumptions, future events or performance
(often, but not always using phrases such as “plans”, “expects”, “is expected”, “budget”,
“scheduled”, “estimates”, “forecasts”, “intends”, “anticipates”, or “believes” or variations (including
negative variations) of such words and phrases, or state that certain actions, events or results
“may”, “could”, “would”, “might” or “will” be taken, occur or be achieved) are not statements of
historical fact and may be forward -looking information. In this news release, forward -looking
information relate, among other things, to: anticipated advancement of mineral properties or
programs; future operations; future recovery metal recovery rates; future growth potential of
Collective; and future development plans.
These forward -looking statements, and any assumptions upon which they are based, are made in
good faith and reflect our current judgment regarding the direction of our business. Management
believes that these assumptions are reasonable. Forward -looking information involves known and
unknown risks, uncertainties and other factors which may cause the actual results, performance
or achievements of the Company to be materially different from any future results, performance
or achievements expressed or implied by the forward- looking information. Such factors include,
among others: risks related to the speculative nature of the Company’s business; the Company’s
formative stage of development; the Company’s financial position; possible variations in
mineralizatio n, grade or recovery rates; actual results of current exploration activities; conclusions
of future economic evaluations; fluctuations in general macroeconomic conditions; fluctuations in
securities markets; fluctuations in spot and forward prices of gold, precious and base metals or
certain other commodities; fluctuations in currency markets; change in national and local
government, legislation, taxation, controls regulations and political or economic developments;
risks and hazards associated with the business of mineral exploration, development and mining
(including environmental hazards, industrial accidents, unusual or unexpected formation
pressures, cave -ins and flooding); inability to obtain adequate insurance to cover risks and
hazards; the presence of laws and regulations that may impose restrictions on mining; employee
relations; relationships with and claims by local communities and indigenous populations;
availability of increasing costs associated with mining inputs and labour; the speculative nature of
mineral exploration and development (including the risks of obtaining necessary licenses, permits
and approvals from government authorities); and title to properties, as well as those risk factors
discussed or referred to in the annual information form of the Company dated April 7, 2022.
Forward-looking information contained herein are made as of the date of this news release and
the Company disclaims any obligation to update any forward- looking statements, whether as a
result of new information, future events or results, except as may be required by applicable
securities laws. There can be no assurance that forward- looking information will prove to be
accurate, as actual results and future events could differ materially from those anticipated in suc h
statements and there may be other factors that cause results not to be anticipated, estimated or
intended. Accordingly, readers should not place undue reliance on forward -looking information.