Tungsten Discovered at Guayabales Copper-Silver-Gold Mine in Colombia

According to the Mining Journal, Collective Mining announced that preliminary sampling analysis of shallow drilling at the Apollo deposit of its Guayabales project in Caldas Province, central Colombia, has revealed high-grade tungsten, copper, silver, and gold, further expanding the outcrop scope of the Apollo deposit.

The main ore intersections from the first 8 holes out of 30 are as follows:

◎ An ore intersection of 124 meters at surface, with a gold equivalent grade of 3.03 g/t or a tungsten (WO3) equivalent grade of 0.66%, including 0.16% WO3, 0.55 g/t gold, 86 g/t silver, and 0.63% copper;

◎ An ore intersection of 91 meters at a depth of 56.15 meters, with a gold equivalent grade of 3.14 g/t or a tungsten (WO3) grade of 0.32%, including 0.32% WO3, 0.85 g/t gold, 48 g/t silver, and 0.39% copper.

The company believes that the first discovery of tungsten in the Apollo deposit is also the first in Colombia's history, which is of strategic significance to the country. The tungsten, occurring in the form of scheelite, is located at the top of the Apollo deposit and can be mined early as a by-product of gold, silver, and copper.

Ari Sussman, the company's Executive Chairman, added, "The continuous discovery of high-grade tungsten ore in the copper, gold, and silver deposit starting from the surface and located at the top of the Apollo deposit is a significant asset for the company. The tungsten ore can be mined early in production, positioning Colombia as an important supplier of critical minerals."

Last year, the company announced its best drilling results at the Apollo deposit: an ore intersection of 534.4 meters with a gold equivalent grade of 2.7 g/t. This includes a high-grade zone of 150.55 meters with a gold equivalent grade of 6.16 g/t.

In March, Sussman stated that it was not yet possible to estimate the first resource immediately due to insufficient deposit control, and further model optimization and scale expansion were needed. He hoped that the resource would exceed 10 million ounces.