Collective Mining Intercepts over 200 Metres of Mineralized Breccia in Drill Hole APC-2 at the Apollo Target
Collective Mining Intercepts over 200 Metres of Mineralized Breccia in Drill Hole APC-2 at the
Apollo Target
Toronto, Ontario, July 6, 2022 – Collective Mining Ltd. (TSXV: CNL) (OTCQX: CNLMF)
(“Collective” or the “Company”) is pleased to announce visual o bservations from the third completed
drill hole at the Apollo target (“Apollo”). Apollo is a newly discovered high-grade copper-gold-silver
porphyry-related breccia and the Company recent ly announced the assay results for the discovery
hole (APC-1), which intersected 87.8 metres @ 2.49 g/t AuEq. Apollo is one of eight porphyry-related
targets situated within a three-by -four-kilometre cluster area generated by the Company through
grassroots exploration at the G uayabales project, located in Ca ldas, Colombia. As part of its fully
funded 20,000-metre drill program for 2022, there are currently three diamond drill rigs operating at
Guayabales, with two turning at Apollo and one turning at the Trap target.
Highlights (See Figures 1 – 4)
APC-2, which was drilled to the southwest from a drill pad located 200 metres southeast
of the collars for APC-1 and APC-1W, intercepted over 200 metres of mineralized breccia
from 154.7 metres downhole (100 metres vertical). Core from this hole and APC-1W have
been sent to the lab as a batch and assay results are expected shortly.
Mineralization is remarkably continuous along the axis of the i ntercept of interest in
APC-2 and is hosted within a breccia sulphide matrix consisting of chalcopyrite (Cu),
p y r it e a n d p y r r h o t it e . A d d it ionally, overprinting carbonate bas e metal (“CBM”) veins
flood the breccia matrix in various locations along the mineralized interval in APC-2 with visible
sphalerite (Zn) and Galena (Pb) o bserved. The breccia clasts ar e all quartz diorite in
composition and this hydrothermal system is clearly linked to a porphyry system. The
mineralization in APC-2 is remark ably consistent with the miner alization observed in APC-1
and APC-1W (refer to press releases dated April 27, 2022 and June 22, 2022 for further
details).
APC-2 extends this mineralized system at least 200 metres to th e northeast and 100
metres to the southwest and is located centrally within the 800 metre X 700 metre Apollo
target area. The Company is currently drilling two additional holes, APC-3 and APC-4, which
aims to expand the mineralized system and better understand the morphology of this new
discovery.
Apollo remains open to the east, west, south and at depth for further expansion. Due to
the size of the target area and success in early drilling, a fo urth drill pad is now under
construction.
The Apollo target area consists of newly generated porphyry an d porphyry related breccia and
vein targets with coincidental high-grade copper and molybdenum soil anomali es in
places measuring greater than 500 parts per million (“ppm”) in copper and 30 ppm in
molybdenum. Additionally, surface sampling at Apollo has uncovered a series of high-grade
gold outcrops with numerous rock samples assaying greater than 3 g/t gold.
Apollo is road accessible all year-round and is situated within an elevation range of 1,800
to 2,000 metres above sea level. Additionally, an electrical substation is located less than
one kilometre from the target area.
“At more than 200 metres in length and with at least three dist inct overprinting types of
mineralization observed, APC-2 i s a nice surprise and has the p otential to provide another
high-grade intercept of bulk-st yle mineralization. Although we are at an early stage in
understanding Apollo, the target i s clearly demonstrating excel lent potential to ultimately
evolve into a large mineralized system. We will continue to be aggressive in drilling Apollo at
various orientations and dips in o rder to learn the geometry of the system and unlock the
potential of the this very exciting new discovery,” commented A ri Sussman, Executive
Chairman.
Figure 1: Plan View of the Guayabales Project Highlighting the Apollo Target
Figure 2: Plan View of the Apollo Target Area Outlining the Porphyry and Breccia Targets,
their Related Soil Anomalies and Drill Holes Completed or Currently Underway
Figure 3: Plan View of the Hydrothermal Breccia Discovery Made at Apollo highlighting APC-2
Figure 4: Apollo Target Cross Section NE-SW With APC-2 mineralized interval and position
relative to APC-1. Related Core Photos Highlighted
Re-Approval of Stock Option Plan
The Company also announces that at the annual special meeting o f shareholders of the Company
held on June 29, 2022, the Company ’s 10% “rolling” stock option plan (“Plan”) was re-approved by
shareholders in accordance with the policies of the TSX Venture Exchange (“TSXV”). The newly
approved Plan also reflected certain house-keeping amendments to ensure compliance with the new
Policy 4.4 of the Exchange which came into effect on November 24, 2021.
About Collective Mining Ltd.
To see our latest corporate presentation, please visit www.collectivemining.com
Collective Mining is an explorat ion and development company foc used on identifying and exploring
prospective mineral projects in South America. Founded by the t eam that developed and sold
Continental Gold Inc. to Zijin Mining for approximately $2 billion in enterprise value, the mission of the
Company is to repeat its past success in Colombia by making significant new mineral discoveries and
advance the projects to produc tion. Management, insiders and cl ose family and friends own nearly
45% of the outstanding shares of the Company and as a result, a re fully aligned with shareholders.
Collective currently holds an option to earn up to a 100% interest in two projects located in Colombia.
As a result of an aggressive exploration program on both the Gu ayabales and San Antonio projects,
a total of eight major targe ts have been defined. The Company i s fortuitous to have made significant
grassroot discoveries at both projects with near-surface discov ery holes at the Guayabales project
yielding 302 metres at 1.11 g/t AuEq at the Olympus target, 163 metres at 1.3 g/t AuEq at the Donut
target and 87.8 metres at 2.49 g/t AuEg at the Apollo target. At the San Antonio project, the Company
intersected, from surface, 710 metres at 0.53 AuEq. ( See press releases dat ed October 27th, 2021,
November 15, 2021, March 15, 2022 and June 22, 2022 for AuEq calculations.)
Qualified Person (QP) and NI43-101 Disclosure
David J Reading is the designated Q ualified Person for this new s 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 Fello w of the Institute of Materia ls, Minerals and Mining and of the
Society of Economic Geology (SEG).
Technical Information
Rock and core samples have been prepared and analyzed at SGS la boratory 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 futu re assay verification. No capp ing has been applied to sample
composites. The Company utilizes a rigorous, industry-standard QA/QC program.
Contact Information
Collective Mining Ltd.
Steve Gold, Vice President, Corporate Development and Investor Relations
Tel. (416) 648-4065
FORWARD-LOOKING STATEMENTS
This news release contains certa in forward-looking statements, including, but not limited to,
statements about the drill programs, including timing of results, and Collective’s future and intentions.
Wherever possible, words such as “may”, “will”, “should”, “coul d”, “expect”, “plan”, “intend”,
“anticipate”, “believe”, “estimate”, “predict” or “potential” o r the negative or other variations of these
words, or similar words or phr ases, have been used to identify these forward-looking statements.
These statements reflect managemen t’s current beliefs and are b ased on information currently
available to management as at the date hereof.
Forward-looking statements involv e significant risk, uncertaint ies, and assumptions. Many factors
could cause actual r esults, performance, or achievements to dif fer materially from the results
discussed or implied in the forward-looking statements. These factors should be considered carefully,
and readers should not place undue reliance on the forward-looking statements. Although the forward-
looking statements contained in this news release are based upo n what management believes to be
reasonable assumptions, Collective cannot assure readers that a ctual results will be consistent with
these forward-looking statements. These forward-looking statements are made as of the date of this
news release, and Collective assumes no obligation to update or revise them to reflect new events or
circumstances, except as required by law.
Neither the TSXV nor its Regulati on Services Provider (as that term is defined in the policies of the
TSXV) accepts responsibility for the adequacy or accuracy of this news release.