Collective Mining (TSX: CNL) is reporting that it has discovered a new gold system at its Guayabales project in Caldas, Columbia.
Referred to as Olympus Deeps, the discovery is said to be a gold related brecciated porphyry intrusion system, which is found 500 metres to the north of the Apollo porphyry system. The discovery was made following drilling, the intercepts from which include:
- APC-88D: 0.89 g/t gold over 20.0 metres from 70.10 metres depth
- APC88-D1: 1.17 g/t gold, 34 g/t silver, 0.12% copper over 497.35 metres from 85.30 metres depth
- APC88-D2: 1.33 g/t gold, 31 g/t silver, 0.12% copper over 548.90 metres from 68.10 metres depth
- APC-91: 2.80 g/t gold, 22 g/t silver over 16.60 metres from 282.30 metres depth
“The latter two discoveries at Trap and Olympus Deeps are separated by approximately 3.5 kilometres of prospective ground with exploration now underway to cover this highly prospective area and generate new targets for drilling. The Guayabales project stands out as one of the best exploration growth projects globally and we are excited that drilling has now resumed at the Apollo and Trap targets and will commence by the middle of February at the Olympus target,” commented Executive Chairman Ari Sussman on the results.
The new target area is said to measure 600 metres by 400 metres, while extending to depths of at least 1,000 metres. The zone remains open in all directions, and is said to be analogous to the Marmato mine, found 2.5 kilometres to the southeast.
Collective Mining last traded at $3.92 on the TSX.
Information for this briefing was found via Sedar and the companies mentioned. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.
