Collective Mining Reports Discovery Of New High-Grade Porphyry Target
Collective Mining (TSX: CNL) has made a new discovery at its Guayabales Project in Columbia. The company is claiming the discovery of new high-grade gold and silver rich porphyry style mineralization at what is being called the Box target.
Identified by soil anomalies as well as geological mapping and rock chip sampling, the new target is said to be located 1.3 kilometres to the west of the Apollo porphyry system. The new target measures 1.0 kilometres by 0.7 kilometres, with vertical depth estimated to be 0.4 kilometres.
Multiple styles of mineralization are being reported at the size, including porphyry with vein stockwork, brecciated porphyry and sheeted carbonate with base metal veining. Samples to date have returned values as high as 5.18 g/t gold within the porphyry style mineralization, while the sheeted carbonate and base metal veining has returned values as high as 55.53% g/t gold, 665 g/t silver and 0.44% copper.
The Box target has yet to be drill tested, with the current geochemical footprint and geology said to be identified to Apollo. Drill pads are presently under construction to drill test the target beginning in April.
READ: Collective Mining Hits 1.17 g/t Gold Over 497 Metres In New Gold Discovery
“Located towards the southwestern end of our 4.5-kilometre porphyry trend, Box is truly a remarkable target. All the ingredients are in place for a new discovery to be made through drilling considering the large scale of the target area with the abundance of high-grade precious metal samples collected from a combination of porphyry related host rock units,” commented Ari Sussman, CEO of Collective Mining.
Collective Mining last traded at $4.34 on the TSX.
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