- Collective Mining Ltd. (CNL) completes a survey outlining significant targets on a part of its San Antonio project located in Caldas, Colombia
- it had made a significant drilling discovery at Pound target as part of its Phase I program
- Previous drilling of two holes returned broad, continuous, gold mineralized intercepts
- Drill holes in the Pound target ended in mineralization with copper and molybdenum grades increasing at depth
- Drilling at the Dollar target previously intersected gold equivalent from a quartz vein
- The target extensions at Pound and new targets at Dollar will be followed up with diamond drilling programs during the second half of 2022
- Collective Mining Ltd. (CNL) is unchanged trading at $3.36 per share as of 2:11 p.m. ET
Collective Mining (CNL) has completed a survey outlining significant targets on a part of its San Antonio Project.
The San Antonio Project is located in Caldas, Colombia.
The survey area covered 2.75 square kilometres and incorporates the previously defined, priority targets named Pound and Dollar. The company previously announced it had made a significant grassroot drilling discovery at Pound target as part of its Phase I program.
The Pound target is coincident with an anomaly present at shallow depths and covering a diameter of 600 metres.
Previous reconnaissance drilling of two holes returned broad, continuous, gold mineralized intercepts from surface.
The IP work demonstrates that the contact zone and the mineralized schist body are open to the north, south and east and can be tested from relatively shallow elevations.
Both drill holes in the Pound target ended in mineralization with copper and molybdenum grades increasing at depth.
IP data at the Dollar target highlights chargeability anomalies directly to the west and east of the area previously drill tested in the Phase I campaign.
The western anomaly is located approximately 300 metres below surface and covers an area measuring 600 metres across by 500 metres vertical
Peripheral drilling at Dollar previously intersected gold equivalent from a quartz vein.
A more subtle eastern anomaly is located approximately 75 metres below surface and measures 250 metres across by 900 metres vertical.
No previous drill testing was conducted within this anomaly but modelling of grade shells from prior holes indicate an eastern dip to the highest-grade mineralization towards the anomaly.
The target extensions at Pound and new targets at Dollar will be followed up with diamond drilling programs during the second half of 2022.
Collective Mining Ltd. (CNL) is unchanged trading at $3.36 per share as of 2:11 p.m. ET.