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Collective Mining extends Colombia Apollo system with high-grade gold
The extension returned 38 metres at 15.25 grams gold per tonne and Collective expects to issue its initial resource this month.
Collective Mining has extended its Apollo system in Colombia by moving about 100 metres north, after drilling aimed at deeper targets encountered a new mineralized breccia body, the company said. The results included 38 metres grading 15.25 grams gold per tonne, within a wider intercept that also included 141.4 metres grading 4.75 grams gold, 5 grams silver, 0.02% copper and 0.04% zinc.
One of the holes, APC172-D2, hit the new mineralization from about 924 metres below surface, including the 38-metre interval, and returned 4.88 and 15.46 grams gold-equivalent for the respective segments. Collective said Apollo’s breccia sits roughly 100 metres north of the previously known limit, between elevations of 910 and 1,040 metres above sea level, and it also extended mineralization about 170 metres vertically below earlier drilling on Apollo’s northern side.
The company said follow-up drilling is already intersecting visually prospective material to the west, with expansion open in multiple directions. Assays from the holes’ intended Ramp zone targets remain pending.
Collective expects to issue its initial resource for Apollo this month as part of its Guayabales project in the Middle Cauca mineral belt. Shares in Collective Mining rose about 3% to $21.41 in Toronto by mid-Tuesday, valuing the company at $1.99 billion, after gaining more than 14% over the prior 12 months.
Latest closeGold $4,376.80 ▼1.2%|Silver $64.72 ▼2.3%|Copper $6.538 ▼0.8%