- Collective Mining (CNL) has channel sampled 45.52 g/t gold and 27 g/t silver along 37.5 m at the Guayabales Project in Colombia
- The company interprets the mineralization to be related to copper-gold porphyry intrusions hosted within the project tenements
- Further channel sampling is in progress to cover all areas of the underground workings
- The company is planning to drill test the Donut Target in late August 2021
- Collective Mining is focused on identifying and exploring prospective gold projects in South America
- Collective Mining (CNL) is up by 4.11 per cent and is currently trading at $3.80 per share
Collective Mining (CNL) has channel sampled 45.52 g/t gold and 27 g/t silver along 37.5 m at the Guayabales Project in Colombia.
The result stems from the company’s initial channel sampling campaign at the Donut Target within Guayabales, which returned high-grade gold and silver assays from a shallow underground tunnel.
Channel sampling results
| Length (m) | Gold (g/t) | Silver (g/t) | Copper (%) | |
| Donut-1 | 37.50 | 45.52 | 27 | 0.13 |
| including | 2 | 1.23 | 82 | 0.83 |
| 2 | 1.87 | 22 | 0.11 | |
| 2 | 1.29 | 47 | 0.09 | |
| 2 | 1.02 | 42 | 0.04 | |
| 2 | 0.06 | 2 | 0.11 | |
| 2 | 1.07 | 17 | 0.13 | |
| 2 | 0.47 | 15 | 0.02 | |
| 2 | 3.38 | 39 | 0.06 | |
| 2 | 1.19 | 17 | 0.03 | |
| 2 | 829.23 | 94 | 0.02 | |
| 2 | 2.48 | 5 | 0.02 | |
| 2 | 2.56 | 9 | 0.06 | |
| 2 | 0.56 | 2 | 0.18 | |
| 2 | 2.58 | 36 | 0.25 | |
| 2 | 0.94 | 9 | 0.08 | |
| 2 | 0.49 | 13 | 0.08 | |
| 2 | 1.01 | 38 | 0.22 | |
| 2 | 0.26 | 6 | 0.15 | |
| 1.50 | 2.38 | 6 | 0.07 |
The company interprets the mineralization to be related to copper-gold porphyry intrusions hosted within the project tenements, which could be partially responsible for the mineral endowment of the Marmato gold mine (proven and probable reserves of 2 million ounces of gold and 4.35 million ounces of silver).
Shallow underground workings have exposed large zones of porphyry veining hosting various copper sulphides. These zones extend for over 1 km to the Olympus target where gold-silver vein systems are extensive.
The Donut Target also displays graduation from sericite-chlorite to an inner zone of intense potassic alteration with abundant porphyry-style B-veins noted. This porphyry body is enveloped by a +1.5 km continuous anomalous zone of in-situ and coincidental gold, copper and molybdenum soil anomalism. The veinlet and stockwork system overprint displays a distinct Au-Ag association.
Further channel sampling is in progress to cover all areas of the underground workings and the target remains open to the north, north-west, east and at depth.
The company is planning to drill test the Donut Target in late August 2021.
Ari Sussman, Collective Mining’s Executive Chairman, commented,
“We are off to a very exciting start at the Guayabales Project. The robust and continuous high-grade channel sampling results validate our geological model for the property. We look forward to initiating a first-ever drill program at the Donut Target.”
Collective Mining is focused on identifying and exploring prospective gold projects in South America.
Collective Mining (CNL) is up by 4.11 per cent and is currently trading at $3.80 per share as of 9:35 am ET.