Where there is will there is way

• APC-12 intersected the highest-grade assay results drilled to date in the Main Breccia discovery at the Apollo target. The hole intercepted a continuous, broad, and consistently high-grade zone of copper-silver-gold mineralization with multiple, overprinting carbonate base metal veins observed within the breccia matrix and returned:
• APC-14 intersected two separate zones of mineralization. Importantly, the shallower intercept, beginning at only 45 metres down hole, extended the southern dimension of the Main Breccia discovery and confirmed continuity of copper-silver-gold mineralization directly below the recently announced outcrop discovery with assay results as follows:
• The second intercept, which was slightly deeper down hole, cut a remarkably continuous zone of Main Breccia copper-silver-gold mineralization and extended the width of the system slightly to the north with results as follows:
• As a result of the intercepts in APC-14, the known width of the system increased by approximately 90% with the overall maximum dimensions of the Main Breccia now measuring 385 metres along strike by 190 metres width by 500 metres depth (prior dimensions were 350 metres x 100 metres x 500 metres). The deposit remains open in all directions.

TORONTO, Oct. 6, 2022 /CNW/ – Collective Mining Ltd. (TSXV: CNL) (OTCQX: CNLMF) (“Collective” or the “Company”) is pleased to announce assay results from four additional holes completed at the Apollo target (“Apollo”) within the Company’s Guayabales project located in Caldas, Colombia. The Main Breccia discovery at Apollo is a high-grade, bulk tonnage copper-gold-silver porphyry-related breccia target with previously announced intercepts including hole APC-2, which intersected 207.15 metres @ 2.68 g/t AuEq and APC-8, which intersected 265.75 metres @ 2.44 g/t gold equivalent (See press releases dated August 10th and September 13^th respectively). As part of its fully funded 20,000+ metre drill program for 2022, there are currently three diamond drill rigs operating at the Apollo target.

“The Main Breccia discovery at the Apollo target continues to deliver robust results demonstrating remarkable continuity and grade over significant drilling widths.  Drill-hole APC-14 is a very important hole as it not only confirmed that the Main Breccia comes directly to surface in the southern portion of the system but also extended the size (width) of the system to the south and to the north. Subsequent step out drill holes either recently completed or currently underway appear to have intersected significant extensions to the size of the system in the north. Once logging has been completed and interpreted by our team, a further update will be provided in the near term on this exciting development,” commented Ari Sussman, Executive Chairman.

Details (See Table 1 and Figures 1– 5)

Eleven diamond drill holes with accompanying assay results have now been announced at Apollo and based on results, the Main Breccia at Apollo continues to grow and now measures up to 385 metres along strike by 190 metres in width by 500 metres vertical. The target remains open in all directions and continues to develop into a significant bulk tonnage mineralized system.

Assay results have been received for four new sequential drill holes APC-11 through APC-14. Drill holes APC-12 and APC-14 intersected the Main Breccia and were drilled in different directions from two separate drill pads. APC-14 was drilled to the north from Pad 3 to a final depth of 407.5 metres and APC-12 was drilled eastwards to a final depth of 474.4 metres from the newly constructed Pad 4, which is located 300 metres to the north of Pad 3. Drill holes APC-11 and 13 were collared from Pad 2 and were drilled to the south and east to final depths of 243.75 metres and 313.20 metres respectively.https://embed.fireplace.yahoo.com/embed?ctrl=Monalixa&m_id=monalixa&m_mode=document&site=sports&os=android&pageContext=%257B%2522ctopid%2522%253A%25221542500%253B1577000%2522%252C%2522hashtag%2522%253A%25221542500%253B1577000%2522%252C%2522wiki_topics%2522%253A%2522Target_Corporation%253BMetre%253BBreccia%2522%252C%2522lmsid%2522%253A%2522a0770000002lA5sAAE%2522%252C%2522revsp%2522%253A%2522cnwgroup.com%2522%252C%2522lpstaid%2522%253A%25226ced45bf-fe56-3155-9ef3-33846db874a1%2522%252C%2522pageContentType%2522%253A%2522story%2522%257D

Assay results and related details are listed below:

• APC-12: 237.70 metres @ 2.88 g/t AuEq from 191.35 metres down hole (170 metres vertical) including:
  14.3 metres @ 5.58 g/t AuEq from 209.70 metres down hole; and
  21.75 metres @ 8.27 g/t AuEq from 339.55 metres down hole.
  
• APC-12 is the Company’s highest-grade intercept to date within the Main Breccia discovery at Apollo and includes broad, continuous and consistent zones of gold (1.15 g/t Au), silver (72 g/t Ag) and copper (0.38% Cu) grades. The mineralized angular Breccia consists of quartz porphyry clasts and a matrix of chalcopyrite, pyrrhotite and pyrite, all of which are over printed by CBM veins hosting quartz, carbonate, sphalerite and galena.
  
• APC-14: 47.45 metres @ 1.36 g/t AuEq from 84.25 metres down hole (45 metres vertical) and 194.30 metres @ 2.00 g/t AuEq from 197.0 metres down hole (130 metres vertical). APC-14 intercepted two zones of mineralized angular breccia with a similar sulphide matrix to APC-12. The shallower zone was intersected only 45 metres below a recently discovered outcrop of the Main Breccia body. The deeper intercept is separated from the shallower one by a post mineralization, diorite dyke and includes the highest proportion of copper intersected to date within the Main Breccia discovery grading 0.44% copper over the entire 194.30 metre interval. 

• APC-11 was drilled specifically to target a zone of high grade CBM veins and intersected multiple sheeted northwest trending veins and returned a grade range of 11.9 g/t AuEq to 3.48 g/t AuEq over widths ranging from 0.55 metres to 1.35 metres.
  
• APC-13 was sited to intersect the Main Breccia body at depth but was terminated early due to mechanical issues with the rig. Prior to termination, the hole did intercept multiple CBM veins at shallow elevations including:
• Three rigs continue to drill at the Apollo project with additional assay results anticipated in the near term, including potentially significant step out holes drilled to the north well past the currently modeled northern boundary of the Main Breccia system.
  
• The Apollo target area, as defined to date by surface mapping, rock sampling and copper and molybdenum soil geochemistry, covers an 800 metres X 700 metres area. The Apollo target area hosts the Company’s new Main Breccia discovery plus a vein system located above and on the eastern flank of the Main Breccia discovery and the Northern Breccia discovery located 250 metres to the north of the Main Breccia. Multiple additional untested breccia, porphyry and vein targets have been generated and will be drilled in due course. The overall Apollo target area also remains open for further expansion.

Table 1: Apollo Target Assays Results

About Collective Mining Ltd.

To see our latest corporate presentation and related information, please visit www.collectivemining.com

Collective Mining is an exploration and development company focused on identifying and exploring prospective mineral projects in South America. Founded by the team that developed and sold Continental Gold Inc. to Zijin Mining for approximately $2 billion in enterprise value, the mission of the Company is to repeat its past success in Colombia by making significant new mineral discoveries and advance the projects to production. Management, insiders and close family and friends own nearly 45% of the outstanding shares of the Company and as a result, are fully aligned with shareholders.

The Company currently holds an option to earn up to a 100% interest in two projects located in Colombia. As a result of an aggressive exploration program at both the Guayabales and San Antonio projects, a total of seven major targets have been defined at Guayabales as well as another three at San Antonio. The Company has made a total of five significant grassroot discoveries at both projects with near-surface discovery holes at the Guayabales project yielding 301.9 metres at 1.11 g/t AuEq at the Olympus target, 163 metres at 1.33 g/t AuEq at the Donut target, 207.15 metres at 2.68 g/t AuEq, 180.6 metres at 2.43 g/t AuEg and 87.8 metres at 2.49 g/t AuEg at the Apollo target and most recently, 102.2m @ 1.53 g/t AuEq at the Trap target. At the San Antonio project, the Company intersected, from surface, 710 metres at 0.53 AuEq. (See related press releases on our website for AuEq calculations)

Qualified Person (QP) and NI43-101 Disclosure

David J Reading is the designated Qualified Person for this news release within the meaning of National Instrument 43-101 (“NI 43-101”) and has reviewed and verified that the technical information contained herein is accurate and approves of the written disclosure of same. Mr. Reading has an MSc in Economic Geology and is a Fellow of the Institute of Materials, Minerals and Mining and of the Society of Economic Geology (SEG).

Technical Information

Rock and core samples have been prepared and analyzed at SGS laboratory facilities in Medellin, Colombia and Lima, Peru. Blanks, duplicates, and certified reference standards are inserted into the sample stream to monitor laboratory performance. Crush rejects and pulps are kept and stored in a secured storage facility for future assay verification. No capping has been applied to sample composites. The Company utilizes a rigorous, industry-standard QA/QC program.

FORWARD-LOOKING STATEMENTS

This news release contains certain forward-looking statements, including, but not limited to, statements about the drill programs, including timing of results, and Collective’s future and intentions. Wherever possible, words such as “may”, “will”, “should”, “could”, “expect”, “plan”, “intend”, “anticipate”, “believe”, “estimate”, “predict” or “potential” or the negative or other variations of these words, or similar words or phrases, have been used to identify these forward-looking statements. These statements reflect management’s current beliefs and are based on information currently available to management as at the date hereof.

Forward-looking statements involve significant risk, uncertainties, and assumptions. Many factors could cause actual results, performance, or achievements to differ materially from the results discussed or implied in the forward-looking statements. These factors should be considered carefully, and readers should not place undue reliance on the forward-looking statements. Although the forward-looking statements contained in this news release are based upon what management believes to be reasonable assumptions, Collective cannot assure readers that actual results will be consistent with these forward-looking statements. These forward-looking statements are made as of the date of this news release, and Collective assumes no obligation to update or revise them to reflect new events or circumstances, except as required by law.

Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this news release.

SOURCE Collective Mining Ltd.

View original content to download multimedia: http://www.newswire.ca/en/releases/archive/October2022/06/c4683.html

Figure 1

Figure 2

VANCOUVER, British Columbia, Oct. 05, 2022 (GLOBE NEWSWIRE) — Millrock Resources Inc. (TSX-V: MRO) (“Millrock”) is pleased to report that a significant exploration target of Ni-Cu-Co-PGE mineralization has been identified at Millrock’s 100% owned Nikolai Project. The Nikolai Project is located within Alaska’s Delta Mining District, approximately 130 kilometers by road south of Delta Junction and approximately 280 kilometers southeast of Fairbanks. The Eureka zone consists of disseminated Ni-Cu-Co-PGE mineralization initially discovered by a subsidiary of INCO and further expanded by Pure Nickel Inc., as reported in their press releases released between 2007-2014.
https://embed.fireplace.yahoo.com/embed?ctrl=Monalixa&m_id=monalixa&m_mode=document&site=sports&os=android&pageContext=%257B%2522ctopid%2522%253A%25221542500%253B1480989%253B1481489%2522%252C%2522hashtag%2522%253A%25221542500%253B1480989%253B1481489%2522%252C%2522wiki_topics%2522%253A%2522Target_Corporation%253B%25C3%2589cu%253BNio%253BExploration%2522%252C%2522lmsid%2522%253A%2522a0770000002m0AbAAI%2522%252C%2522revsp%2522%253A%2522globenewswire.com%2522%252C%2522lpstaid%2522%253A%2522c5ed4c96-c955-3257-9e0b-95a99f98e1d5%2522%252C%2522pageContentType%2522%253A%2522story%2522%257D

Millrock President and CEO Gregory Beischer commented: “Our exploration geologists have outlined a block of mineralized rock that could likely be converted to a NI43-101 compliant Inferred Resource with a single drill program estimated to cost approximately $2 million. If successful, Millrock estimates the resulting Inferred Resource may comprise a deposit with approximately 400,000 metric tonnes of contained nickel metal, plus copper, cobalt, and platinum group metals. Other companies exploring similar deposits have significantly higher market capitalization than Millrock. Establishing an Inferred Resource at Nikolai could substantially increase the value of the Company. The planned drilling program would delineate an Inferred Resource over a 400-meter-long strike length. However, indications from sparse drilling along strike in both directions indicate the suspected deposit may be in excess of five kilometers long and contain a very large, albeit low-grade metal endowment.”

Based on historical INCO Ltd. drill hole assay data available to Millrock, newly received assays reported on September 26, 2022, and positive mineralogy results reported on September 29, 2022, Millrock has established a clear exploration target. From the data, a block of mineralized rock measuring 400 meters by 300 meters by 400 meters has been outlined. Drill density is not presently sufficient to calculate an Inferred Resource. However, it is estimated that the exploration target contains between 140 million tonnes and 211 million tonnes, with grades ranging from 0.28% nickel equivalent (“NiEq”*) to 0.42% NiEq*. The target has been developed and modeled in 3D using the average thickness and grade from historical drill holes FL-003 and FL-006 of the Upper Eureka Zone, Central Eureka Zone and Lower Eureka Zone (Figure 1). Historical density studies of the Nikolai ultramafic sequence have returned an average density of 2.83 g/cm³, which was used in the tonnage calculation for this exploration target.

This target is based on two drill hole intersections, extrapolated along strike ~400-meter distance, with the base of the target as the lower mineralized elevation of FL-003. Additional drill holes reported by Pure Nickel are present in the area but were not used in exploration targeting as Millrock does not have access to the full dataset.

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/1dce184f-2cd1-41b0-8904-44781c2965a2

Table 1 below details the exploration target’s potential grade and tonnage, with the potential tonnage and grade using a maximum and minimum increase/decrease of 20% to allow for uncertainty.

Table 1. Exploration Target potential grade and tonnages.

The potential quantity and grade is conceptual in nature. There has not been sufficient exploration drilling to estimate a Mineral Resource, and it is uncertain if further exploration will result in the estimation of a Mineral Resource.

Additionally, significant upside potential exists, as historical geophysical reports indicated a VTEM anomaly ~3.5 kilometer in length and 400 to 600 meters in width in this part of the Eureka Zone. The developed exploration target accounts for only 12% of the length of the VTEM anomaly (Figure 1). Historical drill hole assay results in this VTEM anomaly, reported by Pure Nickel Inc. (Pure Nickel Inc., News Release, October 29th, 2013), indicate an area of mineralization with an estimated true width ranging from 94.8 meters to 320 meters, and grades ranging from 0.20% to 0.25% nickel, 0.05% to 0.15% copper, 0.016% to 0.019% cobalt, 39 ppb to 96 ppb platinum, 62 ppb to 156 ppb palladium and 11 ppb to 31 ppb Au, with a calculated nickel equivalent (NiEq) ranging from 0.33% to 0.47%.

As reported previously, the Millrock Qualified Person (QP) does not have access to all the Pure Nickel Inc. drill logs, assay results, and geophysical data and has no way to verify the results that were published. The Millrock QP has access to the drill logs and assay certificates for the INCO holes that are designated with the “FL” prefix.

Exploration Target Drill Testing
A drill program consisting of seven holes totaling approximately 2,750 meters has been recommended. If successful, the program would, along with historical drill hole information, provide a drill density on 200 meters centers. This drill hole density is believed to be adequate to allow a calculation of an Inferred Resource, given the apparent relative continuity and homogeneity of the mineralized zone. Figure 2 depicts the approximate surface locations of the recommended drill collars for the intial test. Millrock anticipates that the recommended program will prove the exploration target holds significant mineralization and could be expanded along the VTEM anomaly.

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/724ca567-1772-4801-8ad9-16070cd78ffd

Qualified Person
The technical information within this document has been reviewed and approved by Gregory A. Beischer, President, CEO, and a director of Millrock. Mr. Beischer is a Qualified Person as defined in NI 43-101.

About Millrock Resources Inc.
Millrock Resources Inc. is a premier project generator to the mining industry. Millrock identifies, packages, and operates large-scale projects for joint venture, thereby exposing its shareholders to the benefits of mineral discovery without the usual financial risk taken on by most exploration companies. The company is recognized as the premier generative explorer in Alaska and is a significant shareholder of junior explorers ArcWest Exploration Inc. (TSXV : AWX), Resolution Minerals Limited (ASX : RML), and Felix Gold (ASX: FXG). Funding for drilling at Millrock’s exploration projects is primarily provided by its joint venture partners. Business partners of Millrock have included some of the leading names in the mining industry: EMX Royalty, Coeur Explorations, Centerra Gold, First Quantum, Teck, Kinross, Vale, Inmet and, Altius as well as junior explorers Resolution, Riverside, PolarX, Felix Gold, and Tocvan.

ON BEHALF OF THE BOARD
“Gregory Beischer”
Gregory Beischer, President & CEO

FOR FURTHER INFORMATION, PLEASE CONTACT:
Melanee Henderson, Investor Relations
Toll-Free: 877-217-8978 | Local: 604-638-3164
Twitter | Facebook | LinkedIn

Some statements in this news release contain forward-looking information, including but not limited to execution of deportment studies. These statements address future events and conditions and, as such, involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance, or achievements to be materially different from any future results, performance or achievements expressed or implied by the statements. Such factors include without limitation the completion of planned expenditures, the ability to complete exploration programs on schedule and the success of exploration programs.

“NEITHER TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.”

VANCOUVER, British Columbia, Oct. 05, 2022 (GLOBE NEWSWIRE) — Rover Metals Corp. (TSXV: ROVR) (OTCQB: ROVMF) (FSE:4XO) (“Rover” or the “Company”) is pleased to announce that its new corporate presentation is now available on its website. The Company is also featuring a recently recorded interview with its CEO, Judson Culter, who has provided a corporate update and plans for Q4 of this year.

New Corporate Presentation

Video Interview

About Rover Metals

Rover is a publicly traded junior mining company that trades on the TSXV under symbol ROVR, on the OTCQB under symbol ROVMF, and on the FSE under symbol 4XO. The Company is now developing a diverse portfolio of mineral resource projects: (1) Nevada Claystone Lithium; (2) Zinc-Copper-Lead-Silver in NT, Canada; as well as (3) Gold in NT, Canada. The Company is exclusive to the mining jurisdictions of Canada and the U.S.https://embed.fireplace.yahoo.com/embed?ctrl=Monalixa&m_id=monalixa&m_mode=document&site=sports&os=android&pageContext=%257B%2522ctopid%2522%253A%25221542500%253B1577000%2522%252C%2522hashtag%2522%253A%25221542500%253B1577000%2522%252C%2522wiki_topics%2522%253A%2522Vancouver%253BRover_(marque)%253BTSX_Venture_Exchange%2522%252C%2522lmsid%2522%253A%2522a0770000002m0AbAAI%2522%252C%2522revsp%2522%253A%2522globenewswire.com%2522%252C%2522lpstaid%2522%253A%2522b243763e-490c-3642-8311-1f09ba99905e%2522%252C%2522pageContentType%2522%253A%2522story%2522%257D

You can follow Rover on its social media channels:

Twitter: https://twitter.com/rovermetals
LinkedIn: https://www.linkedin.com/company/rover-metals/
Facebook: https://www.facebook.com/RoverMetals/
for daily company updates and industry news, and
YouTube: https://www.youtube.com/channel/UCJsHsfag1GFyp4aLW5Ye-YQ?view_as=subscriber
for corporate videos.
Website: https://www.rovermetals.com/

ON BEHALF OF THE BOARD OF DIRECTORS
“Judson Culter”
Chief Executive Officer and Director

For further information, please contact:
Email: info@rovermetals.com
Phone: +1 (778) 754-2617

Statement Regarding Forward-Looking Information
This news release contains statements that constitute “forward-looking statements.” Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause Rover’s actual results, performance or achievements, or developments in the industry to differ materially from the anticipated results, performance or achievements expressed or implied by such forward-looking statements. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words “expects,” “plans,” “anticipates,” “believes,” “intends,” “estimates,” “projects,” “potential” and similar expressions, or that events or conditions “will,” “would,” “may,” “could” or “should” occur. There can be no assurance that such statements prove to be accurate. Actual results and future events could differ materially from those anticipated in such statements, and readers are cautioned not to place undue reliance on these forward-looking statements. Any factor could cause actual results to differ materially from Rover’s expectations. Rover undertakes no obligation to update these forward-looking statements in the event that management’s beliefs, estimates or opinions, or other factors, should change.

THE FORWARD-LOOKING INFORMATION CONTAINED IN THIS NEWS RELEASE REPRESENTS THE EXPECTATIONS OF THE COMPANY AS OF THE DATE OF THIS NEWS RELEASE AND, ACCORDINGLY, IS SUBJECT TO CHANGE AFTER SUCH DATE. READERS SHOULD NOT PLACE UNDUE IMPORTANCE ON FORWARD-LOOKING INFORMATION AND SHOULD NOT RELY UPON THIS INFORMATION AS OF ANY OTHER DATE. WHILE THE COMPANY MAY ELECT TO, IT DOES NOT UNDERTAKE TO UPDATE THIS INFORMATION AT ANY PARTICULAR TIME EXCEPT AS REQUIRED IN ACCORDANCE WITH APPLICABLE LAWS.

NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OF THIS RELEASE.