Source: Collective Mining
Market Herald logo

Subscribe

Be the first with the news that moves the market
  • Collective Mining (CNL) has identified a cluster of mineralized porphyries and associated gold-silver vein systems at its Guayabales Project
  • Over the past nine months, the company has completed geological mapping, soil and rock sampling programs, and an airborne geophysical survey
  • Current surface exploration activity has covered less than 20 per cent of the project area and has already identified four initial targets: Donut, Tower, Olympus, and Victory
  • Collective Mining is an exploration and development company
  • Collective Mining Ltd. (CNL) is up 5.28 per cent on the day, trading at $3.79 per share

Collective Mining (CNL) has identified a cluster of mineralized porphyries and associated gold-silver vein systems at its Guayabales Project.

Guayabales is located in Caldas, Columbia. The project is along strike from the Marmato Gold Mine, operated by Aris Gold, which contains proven and probable reserves of 2 million ounces of gold and 4.35 million ounces of silver.

According to this recent discovery, the company believes that the precious metal mineralization encountered throughout the property is related to a series of copper-gold-molybdenum porphyry intrusions.

Ari Sussman, Executive Chairman of Collective Mining, remarked,

“This is the first time that any mining company has consolidated a commanding land package encompassing the northwest projection of the historically significant Marmato mine, which has been in continuous production for more than 500 years.”

Over the past nine months, the company has rapidly advanced the project with intense geological mapping, soil and rock sampling programs, and a high-resolution, airborne geophysical survey.

Current surface exploration activity has covered less than 20 per cent of the project area and has already identified four initial targets:

  • The Donut target, part of a northwest-trending and outcropping cluster of copper-gold-molybdenum porphyry intrusions;
  • The Tower target, which is located in the western portion of the project area and incorporates a similar geological setting to the prominent Marmato gold-silver orebodies;
  • The Olympus target, at which grab samples have returned up to 72.4 g/t gold and 1,098 g/t silver at its large-scale sheeted vein and breccia quartz-sulphide system; and
  • The Victory target, located north of the project area and which consists of a stockwork of porphyry magnetite veinlets and contains a horseshoe-shaped zone of high magnetic bodies.

“Results to date from our Guayabales project are astounding,” added Mr. Sussman, “with multiple styles of precious and base-metal mineralization having been discovered covering more than 5 kilometres. The potential for discovering overprinting high-grade and bulk tonnage mineralized systems is excellent.”

Collective Mining is an exploration and development company focused on identifying and exploring prospective gold projects in South America.

Collective Mining Ltd. (CNL) is up 5.28 per cent on the day, trading at $3.79 per share as of 3:38 pm ET.

More From The Market Herald
Superior Gold - Director, Michael Pesner.

" Superior Gold (TSXV:SGI) nominates new director

Superior Gold (SGI) has filed a management information circular for its annual general meeting.

" Sulliden Mining Capital (TSX:SMC) acquires securities of Xander Resources

Sulliden Mining Capital (SMC) acquired 7,142,857 units of Xander Resources in a private placement.

" Eastern Platinum (TSX:ELR) updates technical report on Crocodile River Mine

Eastern Platinum Limited (ELR) has filed a Technical Report on the Crocodile River Mine (CRM), North West Province in South Africa.