Collective Mining (TSXV:CNL) has provided an update on its flagship Guayabales Project this morning, announcing new channel samples 45.52g/t gold and 27 g/t silver along 37.5 metres in the underground development. The Guayabales project is a key focus for the company, with Collective (TSXV:CNL) interpreting the abundant precious metal mineralization encountered throughout to be related to a series of copper-gold porphyry intrusions hosted within the project tenements.
The Guayabales project is situated contiguous, immediately along strike and to the northwest of Aris Gold’s Marmato gold mine, for which Collective believes could be at least partially responsible for the rich mineral endowment of the Guayabales Project.
This is an important step for Collective Mining which is advancing on its Guayabales and San Antonio projects in Colombia. The company is looking to initiate its first-ever drill program in late August 2021, giving investors something to watch out for going forward. Collective will continue with channel sampling now to cover all underground workings and the target currently remains open to the north, north-west, east, and at depth.
“We are off to a very exciting start at the Guayabales project. The robust and continuous high-grade channel sampling results validate our geological model for the property. We look forward to initiating a first-ever drill program at the Donut target,” commented Ari Sussman, Executive Chairman.
Highlights From the Results (Table 1 and Figures 1-3)
The Company’s initial channel sampling campaign at the Donut taget (“Donut”) within the Guayabales Project has returned high-grade gold and silver assay results from a shallow underground tunnel. Mapping of this tunnet has exposed a gold-copper porphyry stockwork of veinlets with overprinting polymetallic vein systems. Additionally, the mineralized zone outlined by channel sampling results announced herein displays excellent grade continuity with results as follows:
Table 1: Channel Sampling Results*
Figure 1: Plan View of the Guayabales Project and the Donut Target
Figure 2: Plan View of the Donut Mine Showing the Grade Ranges for Channel Sampling Assay Results
Figure 3: Donut Target porphyry style mineralization in underground workings showing abundant copper mineralization.
Figure 4: Donut Target porphyry style mineralization in underground workings showing abundant copper mineralization.
Source: Collective Mining