Collective Mining Drills a New Outcropping High-Grade Silver Rich Vein System Along 825 Metres of Strike at the San Antonio Project
Collective Mining Drills a New Outcropping
High-Grade Silver Rich Vein System Along 825
Metres of Strike at the San Antonio Project
TORONTO
,
Jan. 13, 2026
/CNW/ -
Collective Mining Ltd.
(NYSE: CNL) (TSX: CNL)
("Collective"
or the "Company")
is pleased to announce assay results from seventeen diamond drill holes at the
San Antonio Project's Pound target ("Pound"), confirming the discovery of a
shallow, high-grade
and
silver dominant
vein system. The San Antonio Project is located only two kilometres to the
east-northeast of the Company's flagship Guayabales Project within the Caldas Department in
Colombia
. The San Antonio Project is blessed with excellent infrastructure including proximity to the
Pan American Highway and hydro powerlines which traverse the project area. Porphyry style and
related vein-type mineralization and alteration have been mapped over an area measuring 3
kilometres x 3 kilometres and is open in all directions.
Ari Sussman
, Executive Chairman commented: "This new grassroots discovery of a shallow, high-
grade silver-rich vein system at Pound is a game-changer for the San Antonio Project. Intercepting
exceptional silver values near surface across 825 metres of strike by 850 metres vertical—while the
system remains open in all directions—highlights the immense exploration upside we have here.
Combined with the deeper gold-dominant veins and the previously discovered underlying porphyry
potential, Pound is shaping up as a major multi-phase mineralized system. With our strong cash
position and aggressive 2026 drill program, we are excited to rapidly follow up and unlock the full
value of this exciting new find."
Key Highlights (see Table 1 and Figures 1-5)
A greenfield, outcropping, high-grade zone with multiple precious metal rich veins was
discovered over a large area with first pass drilling, intercepting mineralization
over 825 metres
of strike and up to 850 metres below surface
. Mineralization remains open in all directions
for further expansion.
High-grade silver-rich veins have been intercepted in multiple holes with highlight results as
follows:
1.00 metre @ 6,138 g/t AgEq
(4,430 g/t Ag & 42.10 g/t Au) from 167.35 metres (SAC-30)
1.00 metre @ 2,793 g/t AgEq
(2,140 g/t Ag & 13.75 g/t Au) from 45.05 metres (SAC-29)
0.90 metres @ 1,743 g/t AgEq
(1,450 g/t Ag & 7.69 g/t Au) from 201.20 metres (SAC-21)
1.30 metres @ 1,551 g/t AgEq
(1,515 g/t Ag & 2.53 g/t Au) from 116.40 metres (SAC-24)
1.00 metre @ 1,197 g/t AgEq
(836 g/t Ag & 8.70 g/t Au) from 173.00 metres (SAC-21)
Gold-dominant, high-grade veins have also been discovered at deeper elevations than the silver-
rich veins with highlights as follows:
0.90 metres @ 13.71 g/t AuEq
(14.05 g/t Au & 39 g/t Ag) from 429.40 metres (SAC-19)
1.55 metres @ 15.79 g/t AuEq
(16.75 g/t Au & 14 g/t Ag) from 628.00 metres (SAC-22)
1.25 metres @ 13.31 g/t AuEq
(14.15 g/t Au & 9 g/t Ag) from 679.30 metres (SAC-22)
7.85 metres @ 6.90 g/t AuEq
(5.91 g/t Au & 89 g/t Ag) from 238.00 metres (SAC-24)
1.00 metre @ 14.09 g/t AuEq
(14.80 g/t Au & 22 g/t Ag) from 579.30 metres (SAC-25)
4.10 metres @ 17.10 g/t AuEq
(18.33 g/t Au & 4 g/t Ag) from 702.60 metres (SAC-25)
1.00 metre @ 17.08 g/t AuEq
(18.25 g/t Au & 7 g/t Ag) from 713.60 metres (SAC-25)
Drilling at
San Antonio
is expected to resume imminently with planning underway to follow up on
this new silver-rich vein system discovery and test for the potential of the copper-gold porphyry
system at shallower elevations in the south.
To date, Collective has completed
164,000 metres
of diamond drilling across the
San Antonio
and
Guayabales projects, including
18,000 metres
at the Pound target.
With
US$135 million
in cash (as of
December 1, 2025
), the Company is fully funded for its planned,
2026 program
, which targets up to
100,000 metres
of additional drilling. Up to fourteen rigs are
anticipated to be operating across both projects before the end of Q1, 2026 and there are multiple
high-priority holes at both projects pending assays.
Details (see Table 1 and Figures 1-5)
First pass drilling at the Pound target, aimed below mineralized outcrops close to a porphyry-country
rock contact has resulted in the discovery of a late-stage, porphyry related, high-grade vein system.
Vein mineralization consists of gold-silver-lead-zinc-copper veins enveloped by a robust alteration
halo consisting of sericite and illite. Initial interpretation of core data suggests the principal veins are
vertical to sub-vertical in orientation with a potentially, secondary and flatter lying sequence of
overprinting veins.
Results from seventeen holes have outlined the multi-vein system over approximately 825 metres of
strike by up to 850 metres below surface. The vein system remains open in all directions for further
expansion.
Silver Rich Veins
Silver-rich veins were intersected across six drill holes at the Pound Target at depths ranging
between 35 metres and 867 metres below surface with assay as follows:
1.10 metres @ 559 g/t AgEq from 35.45 metres down hole (SAC-21)
1.00 metre @ 1,197 g/t AgEq from 173.00 metres down hole (SAC-21)
0.90 metres @ 1,743 g/t AgEq from 201.20 metres down hole (SAC-21)
6.40 metres @ 708 g/t AgEq from 111.30 metres down hole including 1.30 metres @
1,551 g/t AgEq (SAC-24)
3.80 metres @ 249 g/t AgEq from 289.30 metres down hole (SAC-24)
9.70 metres @ 4.37 g/t AuEq from 867.90 metres down hole including 1.50 metres @ 936
g/t AgEq (SAC-25)
1.35 metres @ 598 g/t AgEq from 397.15 metres down hole (SAC-26)
1.95 metres @ 1,623 g/t AgEq from 45.05 metres down hole including 1.00 metres @
2,793 g/t AgEq (SAC-29)
1.00 metre @ 6,138 g/t AgEq from 167.35 metres down hole (SAC-30)
Gold Rich Veins
Multiple, gold dominant veins were also cut across nine drill holes from various drill pads with
intercepts beginning as shallow as 5.25 metres down hole (SAC-27) and extending for 850 metres
vertically below surface with results as follows:
SAC-19 drilled from Pad 9 to the southwest with assay results as follows:
1.40 metres @ 5.91 g/t AuEq from 89.45 metres down hole
2.10 metres @ 7.52 g/t AuEq from 185.40 metres down hole
1.10 metres @ 3.24 g/t AuEq from 397.50 metres down hole
0.90 metres @ 2.39 g/t AuEq from 402.75 metres down hole
5.40 metres @ 3.52 g/t AuEq from 424.90 metres down hole including 0.90 metres @
13.71 g/t AuEq down hole
1.40 metres @ 2.91 g/t AuEq from 483.90 metres down hole
SAC-20 was drilled steeply from Pad 5 to the southeast and intercepted:
3.95 metres 2.02 g/t AuEq from 6.00 metres down hole
1.15 metres 4.83 g/t AuEq from 227.10 metres down hole
1.10 metres 3.11 g/t AuEq from 346.70 metres down hole
SAC-21 was drilled at a shallower angle from Pad 5 to the southeast and cut:
2.10 metres @ 3.51 g/t AuEq from 177.20 metres down hole
1.60 metres @ 4.97 g/t AuEq from 345.20 metres down hole
0.80 metre @ 5.04 g/t AuEq from 397.30 metres down hole
SAC-22 was drilled from Pad 10 to the east and intersected:
1.55 metres @ 5.60 g/t AuEq from 190.30 metres down hole
0.90 metres @ 2.20 g/t AuEq from 539.60 metres down hole
0.95 metres @ 2.68 g/t AuEq from 574.65 metres down hole
2.00 metres @ 3.05 g/t AuEq from 578.60 metres down hole
2.95 metres @ 5.54 g/t AuEq from 590.15 metres down hole
1.55 metres @ 15.79 g/t AuEq from 628.00 metres down hole
1.25 metres @ 13.31 g/t AuEq from 679.30 metres down hole
SAC-24 was drilled steeply from Pad 5 to the northeast with results as follows:
3.85 metres @ 5.80 g/t AuEq from 214.80 metres down hole
7.85 metres @ 6.90 g/t AuEq from 238.00 metres down hole
1.20 metres @ 2.77 g/t AuEq from 264.50 metres down hole
5.75 metres @ 3.51 g/t AuEq from 435.65 metres down hole
3.20 metres @ 3.06 g/t AuEq from 473.95 metres down hole
1.05 metres @ 2.94 g/t AuEq from 757.75 metres down hole
2.90 metres @ 3.03 g/t AuEq from 849.95 metres down hole
SAC-25 was drilled from Pad 10 to the northeast and cut many veins as outlined below:
1.20 metres @ 3.16 g/t AuEq from 240.65 metres down hole
2.55 metres @ 3.48 g/t AuEq from 539.65 metres down hole
3.20 metres @ 3.76 g/t AuEq from 551.30 metres down hole
0.90 metres @ 6.77 g/t AuEq from 568.50 metres down hole
1.00 metre @ 14.09 g/t AuEq from 579.30 metres
down hole
4.10 metres @ 17.10 g/t AuEq from 702.60 metres
down hole
1.00 metre @ 17.08 g/t AuEq from 713.6 metres
down hole
2.05 metres @ 6.45 g/t AuEq from 947.65 metres down hole
1.10 metres @ 6.12 g/t AuEq from 980.15 metres down hole
3.95 metres @ 3.38 g/t AuEq from 1,014.60 metres down hole. The hole bottomed in a contact
fault.
SAC-26 was drilled from Pad 6 to the southwest in the opposite direction of SAC-24 with results as
follows:
1.25 metres @ 2.97 g/t AuEq from 108.55 metres down hole
1.20 metres @ 3.34 g/t AuEq from 125.30 metres down hole
1.50 metres @ 4.93 g/t AuEq from 218.50 metres down hole
1.00 metre @ 5.41 g/t AuEq from 272.00 metres down hole
1.00 metre @ 4.56 g/t AuEq from 467.00 metres down hole
2.05 metres @ 2.21 g/t AuEq from 474.10 metres down hole
2.10 metres @ 6.46 g/t AuEq from 495.80 metres down hole
1.20 metres @ 2.39 g/t AuEq from 713.15 metres down hole
SAC-27 was a short hole drilled from Pad 12 to the southwest and cut:
2.00 metres @ 3.25 g/t AuEq from 5.35 metres down hole
SAC-29 was drilled from Pad 5 to the southeast and intercepted:
1.90 metres @ 4.85 g/t AuEq from 28.00 metres down hole
1.00 metre @ 5.15 g/t AuEq from 237.30 metres down hole
1.10 metres @ 5.06 g/t AuEq from 333.05 metres down hole
4.70 metres @ 3.24 g/t AuEq from 551.50 metres down hole
1.10 metres @ 2.71 g/t AuEq from 589.20 metres down hole
1.10 metres @ 2.28 g/t AuEq from 627.00 metres down hole
2.20 metres @ 2.61 g/t AuEq from 652.80 metres down hole
1.80 metres @ 2.87 g/t AuEq from 665.60 metres down hole
Drill holes SAC-28 and SAC-31 were drilled at shallow depths from Pad 12 to the west and
southwest respectively and did not intersect significant mineralization.
SAC-23 and SAC-34 were drilled as exploratory holes into the Dollar target area and failed to reach
target depth due to the limited rig capacity resulting in its' inability to drill through a fault zone.
SAC-32 and SAC-35 were designed as exploratory holes into the Dollar target and failed to reach
target depth due to excess water flowing out of the hole (subsequently sealed).
SAC-33 was the southernmost hole drilled that intersected the new vein system with assay results
yielding the following intercepts:
3.60 metres @ 3.07 g/t gold equivalent from 111.40 metres down hole
1.30 metres @ 9.40 g/t gold equivalent from 159.70 metres down hole
2.00 metres @ 4.74 g/t gold equivalent from 167.10 metres down hole
Table 1: Assays Results for Drill Holes from SAC-19 to SAC-35
Hole #
From
(m)
To
(m)
Length
(m)
Au
g/t
Ag
g/t
Cu
%
Zn
%
AuEq
g/t*
AgEq
g/t**
SAC-19
89.45
90.85
1.40
3.12
212
-
-
5.91
and
185.40
187.50
2.10
5.25
171
0.10
0.32
7.52
and
397.50
398.60
1.10
2.13
85
0.01
0.20
3.24
and
402.75
403.65
0.90
2.17
20
0.09
-
2.39
and
424.90
430.30
5.40
3.51
15
0.04
-
3.52
Incl.
429.40
430.30
0.90
14.05
39
0.09
-
13.71
and
483.90
485.30
1.40
2.19
53
0.03
0.34
2.91
SAC-20
6.00
9.95
3.95
1.76
26
-
-
2.02
and
227.10
228.25
1.15
1.92
197
0.06
0.60
4.83
and
346.70
347.80
1.10
2.11
73
0.08
0.10
3.11
SAC-21
35.45
36.55
1.10
3.10
414
0.17
1.01
559
and
173.00
174.00
1.00
8.70
836
0.02
0.10
1,197
and
177.20
179.30
2.10
3.30
29
0.02
-
3.51
and
201.20
202.10
0.90
7.69
1,450
0.47
2.31
1,743
and
345.20
346.80
1.60
3.05
116
0.14
0.78
4.97
and
397.30
398.10
0.80
3.36
126
0.05
0.18
5.04
SAC-22
190.30
191.85
1.55
4.55
96
-
-
5.60
and
539.60
540.50
0.90
2.02
18
0.01
0.14
2.20
and
574.65
575.60
0.95
2.00
53
0.03
0.14
2.68
and
578.60
580.60
2.00
3.08
9
-
0.17
3.05
and
590.15
593.10
2.95
5.86
6
0.01
-
5.54
and
628.00
629.55
1.55
16.75
14
0.01
-
15.79
and
679.30
680.55
1.25
14.15
9
0.03
-
13.31
SAC-23
The hole did not reach target depth due to a fault
SAC-24
111.30
117.70
6.40
1.36
668
0.22
2.21
708
Incl.
116.40
117.70
1.30
2.53
1,515
0.53
3.82
1,551
and
214.80
218.65
3.85
3.69
152
0.07
0.34
5.80
and
238.00
245.85
7.85
5.91
89
0.05
0.25
6.90
and
264.50
265.70
1.20
2.45
29
0.03
0.15
2.77
and
289.30
293.10
3.80
0.33
248
0.07
0.70
249
and
435.65
441.40
5.75
2.58
66
0.07
0.25
3.51
and
473.95
477.15
3.20
2.48
32
0.27
0.06
3.06
and
757.75
758.80
1.05
2.30
9
0.63
0.01
2.94
and
849.95
852.85
2.90
2.88
4
0.26
0.01
3.03
SAC-25
240.65
241.85
1.20
2.76
32
0.02
0.43
3.16
and
539.65
542.20
2.55
3.67
5
-
-
3.48
and
551.30
554.50
3.20
3.89
7
0.01
0.13
3.76
and
568.50
569.40
0.90
7.19
3
-
0.16
6.77
and
579.30
580.30
1.00
14.80
22
-
-
14.09
and
702.60
706.70
4.10
18.33
4
-
-
17.10
and
713.60
714.60
1.00
18.25
7
0.01
-
17.08
and
867.90
877.60
9.70
3.07
82
0.27
0.27
4.37
Incl.
867.90
869.40
1.50
8.22
499
0.40
1.69
936
and
947.65
949.70
2.05
4.07
137
0.48
0.63
6.45
and
980.15
981.25
1.10
3.24
198
0.29
-
6.12
and
1014.60
1018.55
3.95
2.95
33
0.08
0.22
3.38
SAC-26
108.55
109.80
1.25
2.12
49
0.04
0.98
2.97
and
125.30
126.50
1.20
3.36
14
0.01
0.10
3.34
and
218.50
220.00
1.50
4.88
23
0.02
0.11
4.93
and
272.00
273.00
1.00
1.79
234
0.13
0.63
5.41
and
397.15
398.50
1.35
1.94
499
1.06
0.05
598
and
467.00
468.00
1.00
3.45
83
0.16
0.12
4.56
and
474.10
476.15
2.05
1.67
10
0.48
0.01
2.21
and
495.80
497.90
2.10
6.63
16
0.07
0.03
6.46
and
713.15
714.35
1.20
2.38
7
0.03
0.15
2.39
SAC-27
5.35
7.35
2.00
1.17
150
0.02
-
3.25
SAC-28
NSV
SAC-29
28.00
29.90
1.90
1.85
207
0.12
0.19
4.85
and
45.05
47.00
1.95
10.24
1,110
0.45
3.80
1,623
Incl.
45.05
46.05
1.00
13.75
2,140
0.87
7.21
2,793
and
237.30
238.30
1.00
3.22
140
0.05
0.46
5.15
and
333.05
334.15
1.10
2.59
160
0.09
0.85
5.06
and
551.50
556.20
4.70
2.89
8
0.05
0.02
3.24
and
589.20
590.30
1.10
2.07
7
0.66
0.01
2.71
and
627.00
628.10
1.10
1.87
4
0.44
0.01
2.28
and
652.80
655.00
2.20
2.31
9
0.19
0.03
2.61
and
665.60
667.40
1.80
2.64
5
0.33
0.01
2.87
SAC-30
167.35
168.35
1.00
42.10
4,430
0.14
0.21
6,138
SAC-31
NSV
SAC-32
Abandoned due to excess water
SAC-33
111.40
115.00
3.60
1.46
99
0.14
0.10
3.07
and
159.70
161.00
1.30
9.89
11
0.02
0.11
9.40
and
167.10
169.10
2.00
4.27
38
0.04
0.70
4.74
SAC-34
The hole did not reach target depth due to a fault
SAC-35
Abandoned due to excess water
*AuEq (g/t) is calculated as follows: (Au (g/t) x 0.93) + (Ag (g/t) x 0.017 x 0.85) + (Cu (%) x 1.14 x 0.90) + (Mo (%) x 4.57 x 0.70) + (Zn (%) x 0.31 x 0.85) + (Pb (%) x 0.23 x 0.85)
utilizing metal prices of Au – US$3,000/oz, Ag – US$50/oz, Cu – US$5.0/lb, Mo – US$20/lb, Zn – US$1.35/lb and Pb – US$1.0/lb and recovery rates of 93% for Au, 85% for Ag,
90% for Cu, 70% for Mo, 85% for Zn and 85% for Pb. AuEq (g/t) calculation considers Zn or Pb values when Zn>0.1% or Pb>0.05% for each intercept. Recovery rate
assumptions are speculative as limited metallurgical work has been completed to date but is based on other comparable deposits in neighboring South American countries.
True widths are unknown, and grades are uncut.
**AgEq (g/t) is calculated as follows: (Ag (g/t) x 0.85) + (Au (g/t) x 60.0 x 0.93) + (Cu (%) x 68.57 x 0.90) + (Zn (%) x 18.51 x 0.85) + (Pb (%) x 13.71 x 0.85) utilizing metal prices
of Ag – US$50/oz, Au – US$3,000/oz, Cu – US$5.0/lb, Zn – US$1.35/lb and Pb – US$1.0/lb and recovery rates of 85% for Ag, 93% for Au, 90% for Cu, 85% for Zn and 85% for Pb.
AgEq (g/t) calculation considers Zn or Pb values when Zn>0.1% or Pb>0.05% for each intercept. Recovery rate assumptions are speculative as limited metallurgical work has
been completed to date but is based on other comparable deposits in neighboring South American countries. True widths are unknown, and grades are uncut.
Guayabales Mining License Update
The Company is pleased to announce that further to its press release dated
June 23, 2025
, where it
announced that it had accelerated its agreement with the vendor of the Guayabales mining license,
that the transfer request process with the Colombian National Mining Agency ("ANM") has been
completed and as a result the transfer of 100% of the mining license into its name is finalized.
Furthermore, the Company notified the Guayabales Mining Association in December that it is
exercising its right to pay the remaining USD
$3.5 million
as part of the original agreement to take full
control of the mining title. A sum of USD
$2.0 million
was paid in
December 2025
, and the remaining
balance of USD
$1.5 million
will be paid at the end of January.
Figure 1: Plan View of the Pound Target at the San Antonio Project Highlighting Assay Results
Announced Today (CNW Group/Collective Mining Ltd.)
Figure 2: Section Outlining the New High-Grade Vein System Discovery Along 825 Metres of Strike
by 850 Metres Vertical (Open in all Directions) (CNW Group/Collective Mining Ltd.)
Figure 3: Drill Core Photos Highlighting the Various Types of Mineralization Observed and Related
Assay Results (CNW Group/Collective Mining Ltd.)
Figure 4: Plan View of the San Antonio Project Highlighting Drilling and Geochemical Results of the
Various Targets Along a Multi-Kilometre Mineralized Corridor (CNW Group/Collective Mining Ltd.)
Figure 5: Plan View of the San Antonio and Guayabales Projects Highlighting the Pound Target at
the San Antonio Project (CNW Group/Collective Mining Ltd.)
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 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 and drill a series of greenfield generated targets on the property.
Additionally, the Company has launched its largest drilling campaign in history at its optioned San
Antonio Project (100% potential interest) as it hunts for new discoveries and looks to expand upon
the newly discovered porphyry system at the Pound target. The San Antonio Project is located
between two to five kilometers east-northeast of the Guayabales Project and could potentially share
infrastructure given their proximity to each other.
Management, insiders, a strategic investor and close family and friends own 45.3% of the
outstanding shares of the Company and as a result, are fully aligned with shareholders. The
Company is listed on both the NYSE American and TSX under the trading symbol "CNL".
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
Samples were cut by Company personnel at Collective Mining's core facility in Caldas,
Colombia
.
Diamond drill core was sawed and then sampled in maximum 2 metres intervals, stopping at
geological boundaries. Drill hole core diameter is a mix of PQ, HQ and NQ depending on the depth
of the drill hole.
Core samples have been prepared and analyzed at ALS laboratory facilities in
Medellin, Colombia
and
Lima, Peru
for copper, gold and silver assays, and multi-element ICP. ALS is an accredited
laboratory which is independent of the Company. Gold assays are obtained by fire assay fusion with
AAS finish on a 50g sample (Au-AA24). Any samples returning > 10 g/t were then reanalyzed by fire
assay with gravimetric finish on a 50g sample (Au-GRA22). Copper and silver were assayed by
inductively Coupled Plasma - Atomic Emission Spectroscopy (ICP-AES) and Mass Spectrometry
(ICP-MS) following a 4-acid digestion. Samples were also analyzed for a suite of 48 elements with
ME-MS61 plus mercury and a sequential copper leach analysis was completed on each sample with
copper greater than 10,000 parts per million. 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 future assay verification. No capping has been
applied to sample composites. The Company utilizes a rigorous, industry-standard QA/QC program.
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