Rich ore section discovered at the Guayabales project in Colombia

Collective Mining announced the discovery of a new high-grade ore zone at the Apollo deposit within its Guayabales project in Caldas Province, central Colombia.

The company reported the discovery of a high-grade copper-silver ore zone named "HZ2" at the Apollo deposit, with potential for further expansion. This zone is the second-highest grade ore zone discovered by the company so far.

Key mineralization findings include:

APC107-D2 hole: 377.85 meters of mineralization with a gold equivalent grade of 2.13 g/t. This includes a 67.50-meter-thick mineralized zone with a gold equivalent grade of 5.38 g/t. This hole extends the HZ1 high-grade ore zone, announced on December 16, 2024, by 50 meters to the west.

APC107-D3 hole: 123.75 meters of mineralization with a gold equivalent grade of 3.03 g/t (1.34 g/t gold, 91 g/t silver, and 0.43% copper). Located in the north-west of HZ2, this hole may indicate the presence of a third high-grade ore zone, requiring further drilling for verification.

APC107-D4 hole: 159.05 meters of mineralization with a gold equivalent grade of 3.01 g/t (1.19 g/t gold, 98 g/t silver, and 0.43% copper). This includes a 59.25-meter-thick ore body with a gold equivalent grade of 5.01 g/t (1.63 g/t gold, 196 g/t silver, and 0.68% copper).

APC107-D5 hole: 114.40 meters of mineralization with a gold equivalent grade of 4.14 g/t (1.05 g/t gold, 150 g/t silver, and 0.64% copper). This includes a 57.25-meter-thick ore body with a gold equivalent grade of 5.64 g/t (1.22 g/t gold, 221 g/t silver, and 0.89% copper).

Currently, HZ1 has a delineated strike length of 230 meters, a width of 70 meters, and extends vertically over 180 meters. APC104-D1 hole encountered 150.55 meters of mineralization with a gold equivalent grade of 6.16 g/t, while APC104-D5 hole encountered 106.35 meters of mineralization with a gold equivalent grade of 9.05 g/t.

The company aims to identify 11 high-grade ore zones within the Apollo deposit at depths shallower than 1,000 meters.

The company currently has nine drilling rigs in operation and plans to complete 70,000 meters of drilling this year. Among them, seven drilling rigs are operating at the Guayabales project. In Q3, the company also plans to deploy two deep drilling rigs to re-verify the Ramp Zone.

As of now, the company has completed 125,500 meters of drilling at the Guayabales project, including 87,000 meters at the Apollo deposit.