Announcement • Jun 29
Collective Mining Discovers New Tungsten Enriched High-Grade Subzone 300 Meters Below Surface At Apollo By Drilling 27.35 Meters At 37.55 G/T AuEq
Collective Mining Ltd. has discovered high-grade tungsten, gold, silver and copper mineralization along the eastern contact of the Apollo breccia body. The company reported 27.35 meters at 37.55 g/t gold equivalent (1.68% WO3, 11.62 g/t Au, 54 g/t Ag, 0.43% Cu) from 300 meters below surface (APC-162). APC-162 was designed to target 30 meters up-dip of previously released hole APC107-D5, which cut a tungsten rich intercept of 28.45 meters at 0.80% WO3, 1.63 g/t Au, 13 g/t Ag, 0.12% Cu. The new tungsten rich subzone, as defined by holes APC107-D5 and APC-162, begins at approximately 300 meters below surface and is distinct and separate from the upper tungsten rich zone in the Apollo breccia body, which covers the top 100 meters of the Apollo system from surface. The new tungsten enriched subzone remains fully open down dip with follow-up drilling expected to commence in the near future. Drill hole APC160-D1 has locally extended the Apollo breccia by 77 meters to the northwest beyond the current outline at 900 meters below surface by intersecting 28.80 meters at 1.67 g/t gold equivalent. To date, Collective has completed 184,000 meters of diamond drilling across the Guayabales and San Antonio projects, including 120,000 meters at the flagship Apollo system, which anchors the Guayabales Project. The company has USD 113.3 million in cash (as of March 31, 2026) and presently has 13 diamond drill rigs operating across the Guayabales Project. Drill hole APC-162, collared from Pad31 and directed to the southwest, was designed as the initial follow-up hole to test for a potential up-dip extension to the tungsten rich subzone initially intersected in hole APC107-D5, which returned 28.45 meters at 0.80% WO3. APC-162 cut high-grade mineralization with observable coarse scheelite, chalcopyrite, sporadic sphalerite and galena as follows: 27.35 meters at 37.55 g/t gold equivalent (1.68% WO3, 11.62 g/t Au, 54 g/t Ag, 0.43% Cu) from 300 meters below surface. This newly identified tungsten enriched subzone remains open down-dip along the Apollo breccia body eastern contact margin, with follow up drilling expected to commence shortly. Drill hole APC160-D1 is the initial directional drill hole collared from mother hole APC-160D from Pad27 and was directed to the north on the breccia's western margin. The hole meaningfully expanded the breccia body by 77 meters to the northwest at 900 meters below surface with assay results as follows: 28.80 meters at 1.67 g/t gold equivalent. APC160-D1 also intersected infill mineralization along the western margin of the breccia body with results as follow: 116.25 meters at 1.41 g/t gold equivalent from 647 meters below surface including 15.15 meters at 2.36 g/t gold equivalent and 17.35 meters at 4.75 g/t gold equivalent and 51.05 meters at 1.00 g/t gold equivalent from 800 meters below surface. Two holes, APC-167D and APC-162, were drilled into diorite host rock to the north and outside the main breccia body to improve confidence in the lower grade halo mineralization surrounding the main Apollo breccia body. Both holes intersected sheeted veinlet mineralization with better grades than the existing internal block model, with assay results as follows: 58.00 meters at 1.03 g/t gold equivalent from 418 meters below surface including 7.15 meters at 3.76 g/t gold equivalent (APC-167D), 6.70 meters at 3.90 g/t gold equivalent from 223 meters below surface and 13.00 meters at 6.47 g/t gold equivalent from 264 meters below surface (APC-162). Holes APC160-D2, APC169-D1, APC169-D2 and APC-173 were exploratory in nature and failed to intersect any significant mineralization other than thin modest grading individual veinlets. Four exploratory drill holes (SAC-36, SAC-37, SAC-38 and SAC-39) were collared from Pad15 and Pad16 at the Dollar target, which locates in the southern portion of the San Antonio Project approximately 700 meters to the south of the deep porphyry discovery made at the Pound target. Modest porphyry-related vein mineralization was encountered in two of the holes with assay results as follows: 0.90 meters at 962 g/t Ag, 0.98 g/t Au, 0.15% Cu and 0.58% Zn from 101.40 meters down hole and 2.00 meters at 14.15 g/t Au from 471.35 meters down hole (SAC-36), 29.20 meters at 1.28 g/t Au, 11 g/t Ag and 0.30% Zn from 246.30 meters down hole including 5.95 meters at 3.51 g/t Au, 1.03% Zn from 269.55 meters down hole (SAC-39). The company is evaluating the San Antonio Project to assess its exploration potential and define priority targets ahead of future field work. Composite widths are presented as core lengths. Additional drilling will be required to confirm the geometry of the mineralized zones, with not enough drilling to estimate the true width of the zone. No grade capping has been applied and internal and continuous dilution of up to 20% below a cutoff grade of 0.30 g/t Au may be included within the total interval.
