Category: Base Metals

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Base Metals Energy Precious Metals

Collective Mining Drills 298.6 Metres at 1.54 g/t Gold Equivalent and 102.20 metres at 3.38 g/t Gold Equivalent into the Main Breccia Discovery at Apollo

  • Drill hole APC-20 was drilled on the north-eastern side of the Main Breccia discovery at the Apollo target into an open area without any prior drilling and intersected a broad zone of mineralization with an abundance of gold-rich, carbonate base metal veins overprinting angular, gold-silver-copper bearing breccia. This intercept represents the highest-grade intersection over 100 metres drilled to date at Apollo with results as follows:
  • Drill hole APC-19 was drilled in the centre of the system in order to expand the vertical dimension in this location. The hole intercepted a broad and continuous zone of copper-silver-gold mineralization and includes a copper-rich subzone with results including:
  • Based on a newly revised model of the Main Breccia system, the Company has identified two high-grade subzones of mineralization and as a result, will be drill tested in 2023 and are outlined as follows:
  • Three rigs continue to drill at Apollo with holes APC-22 through APC-27 completed and holes APC-28 through APC-30 underway. Additional assay results are anticipated in the near term.

TORONTO, Dec. 7, 2022 /CNW/ – Collective Mining Ltd. (TSXV: CNL) (OTCQX: CNLMF) (“Collective” or the “Company”) is pleased to announce assay results from three additional holes drilled 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 system. As part of its fully funded 23,000 metre drill program for 2022, there are currently three diamond drill rigs operating at the Apollo target.

Executive Chairman, Ari Sussman stated: “Drilling into the Main Breccia system at the Apollo target continues to expand the total volume while delivering long and high-grade intercepts. The discovery of the two new high-grade subzones through detailed geological modelling is exciting as both the copper rich zone and the gold rich zone appear to be open for expansion in multiple directions. Additionally, we believe that the two subzones will coalesce within the system, thereby enhancing the potential for the discovery of even higher grades than we have discovered to date. These areas will be a key target for drilling in early 2023. Without question there is a lot more metal to be found at the Apollo target and we will remain aggressive in unlocking the potential of this remarkable discovery.”

To watch a short video of David Reading, Special Advisor to Collective Mining, speak about the assay results announced today, please click here

Details (See Table 1 and Figures 1–4)

Twenty-two diamond drill holes with accompanying assay results have now been announced at Apollo and a further nine holes are outstanding. Results of three drill holes are announced below:

Drill hole APC-20 was drilled south from pad 5 to a maximum depth of 445.4 metres and successfully expanded the eastern area of the Main Breccia system at depth. The hole intersected 102.2 metres of continuous gold-silver-copper mineralization beginning at 298.2 metres down hole and ending at 400.40 metres. The hole is characterized by mineralized angular porphyry related breccia with a matrix infill of pyrite, some chalcopyrite and carbonate which is overprinted by zones of sheeted carbonate base metal veins (“CBM”) and veinlets which are associated with disseminated sphalerite and carry higher gold grades. These higher grade CBM zones can now be traced and mapped in multiple drill holes and three have been identified with drilling to date; within the lower, upper and central portions of the main breccia body The following results are highlighted:

  • 102.20 metres @ 3.38 g/t AuEq consisting of 2.72 g/t Au, 28 g/t Ag, 0.08% Cu and includes a higher-grade zone of 33.60 metres @ 7.30 g/t AuEq.

Drill hole APC-19 was drilled in a southeast direction from pad 4 to a maximum depth of 582.3 metres. The hole intersected continuous copper-silver-gold mineralization from 199.20 metres (178m vertical) to 497.80 metres (470 metres vertical). The mineralized breccia contains a matrix of abundant chalcopyrite and some pyrite particularly from the beginning of the hole down to 323.50 metres which is associated with higher silver values and averaged 0.63% copper and 64 g/t silver over this interval. This newly identified shallow plunging high-grade copper zone has been intersected in six of the holes drilled to date and future drilling will target extensions of this zone within the main breccia body. Assay results for APC-19 are as follows:

  • 298.60 metres @ 1.54 g/t AuEq consisting of 0.48 g/t Au, 34 g/t Ag and 0.31% Cu and includes 124.30 metres 2.72 g/t AuEq consisting of 0.62 g/t Au, 64 g/t Ag and 0.63% Cu.

Hole APC-21 was drilled at a steep angle towards the north from pad 3 but unfortunately undercut the northerly dipping main breccia body.

With the recently announced assay results for APC-17 and previously announced visuals from APC-22, the potential total volume of rock hosting the Main Breccia discovery within it has approximately tripled in size with the dimensions now measuring 385 metres along strike by 350 metres width by 825 metres.  The discovery remains wide open for expansion and further step-out holes are currently being designed.

Three rigs continue to drill at Apollo with additional assay results from holes APC-22 through APC-30 anticipated in the near term.

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

Hole #From
(m)		To
 (m)		Intercept
(m)		Au
(g/t)		Ag
(g/t)		Cu
%		Mo
%		Zn
%		Pb
%		AuEq (g/t) *CuEq (%) *
APC-19199.20497.80298.600.48340.310.002––1.540.79
Incl.199.20323.50124.300.62640.630.002––2.721.39
APC-20**298.20400.40102.202.72280.080.0010.210.153.38–
Incl.324.25357.8533.606.30450.080.0010.420.337.30–
APC-21No Significant Values
*AuEq (g/t) is calculated as follows: (Au (g/t) x 0.95) + (Ag g/t x 0.016 x 0.95) + (Cu (%) x 1.96 x 0.95)+ (Mo (%)*7.35 x 0.95) and CuEq (%) is calculated as follows:  (Cu (%) x 0.95) + (Au (g/t) x 0.51 x 0.95) + (Ag (g/t) x 0.01 x 0.95)+ (Mo(%)x 3.75 x 0.95) utilizing metal prices of Cu – US$4.00/lb, Ag – $22/oz Mo US$15.00/lb and Au – US$1,400/oz and recovery rates of 95% for Au, Ag, Mo and Cu. Recovery rate assumptions are speculative as no metallurgical work has been completed to date.
** In APC-20, Zn and Pb were including for the AuEq calculation using metal prices of Zn – US$1.75/lb, Pb – $0.95/lb and recovery rates of 95%.
*** A 0.2 g/t AuEq cut-off grade was employed with no more than 15% internal dilution. True widths are unknown, and grades are uncut.
Figure 1: Plan View of the Main Breccia discovery at Apollo Highlighting New Drill Holes APC19 & APC-20 and the Dimensions of the Discovery (CNW Group/Collective Mining Ltd.)
Figure 1: Plan View of the Main Breccia discovery at Apollo Highlighting New Drill Holes APC19 & APC-20 and the Dimensions of the Discovery (CNW Group/Collective Mining Ltd.)
Figure 2: Plan View of the Guayabales Project Highlighting the Apollo Target (CNW Group/Collective Mining Ltd.)
Figure 2: Plan View of the Guayabales Project Highlighting the Apollo Target (CNW Group/Collective Mining Ltd.)
Figure 3: Apollo Target: Main Breccia Cross Section with Core Photo Highlights from APC-19 (CNW Group/Collective Mining Ltd.)
Figure 3: Apollo Target: Main Breccia Cross Section with Core Photo Highlights from APC-19 (CNW Group/Collective Mining Ltd.)
Figure 4: Apollo Target: Core Photo Highlights from APC-20 (CNW Group/Collective Mining Ltd.)
Figure 4: Apollo Target: Core Photo Highlights from APC-20 (CNW Group/Collective Mining Ltd.)

About Collective Mining Ltd.

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

Founded by the team that developed and sold Continental Gold Inc. to Zijin Mining for approximately $2 billion in enterprise value, Collective Mining is a copper, silver and gold exploration company based in Canada, with projects in Caldas, Colombia. The Company has options to acquire 100% interests in two projects located directly within an established mining camp with ten fully permitted and operating mines.

The Company’s flagship project, Guayabales, is anchored by the Apollo target, which hosts the large-scale, bulk-tonnage and high-grade copper, silver and gold Main Breccia discovery. The Company’s near-term objective is to continue with expansion drilling of the Main Breccia discovery while increasing confidence in the highest-grade portions of the system.

Management, insiders and close family and friends own nearly 35% of the outstanding shares of the Company and as a result, are fully aligned with shareholders. The Company is listed on the TSXV under the trading symbol “CNL” and on the OTCQX under the trading symbol “CNLMF”.

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.

Cision
Cision

View original content to download multimedia: http://www.newswire.ca/en/releases/archive/December2022/07/c3277.html

Categories
Base Metals Energy Junior Mining

EV battery cathode costs spike as lithium price sets fresh record

Casper Rawles at BenchmarkWeek in Los Angeles. Image: Benchmark Mineral Intelligence.

Prices for graphite in the battery supply chain have not moved much this year, kept down by softness in the global steel industry. 

The often overlooked anode material may be on the brink of a breakthrough, however. Benchmark Mineral Intelligence at its BenchmarkWeek annual industry gathering in Los Angeles predicted that EVs will become the main source of demand for graphite next year. 

For lithium that change happened in 2018, which, for one, shows just to what extent the EV industry is still in its infancy, and two, just what an impact the additional demand from EVs will have on raw material prices.   

Benchmark Source, a new service from the London-HQed battery supply chain research firm, reports that lithium prices in China touched a fresh record high mid-November, just shy of $80,000 a tonne.

Prices of Chinese battery grade lithium hydroxide, which is used in high nickel cathodes, are up 150% year-to-date. Lithium carbonate prices have followed a similar trajectory. While well below their Q1/Q2 highs, nickel and cobalt sulphate prices have also regained some ground since hitting 2022 lows in Q3. 

Cathode cost climb 

Lithium iron phosphate (LFP) batteries have lost some of their cost competitiveness to ternary cathodes using the dominant nickel-cobalt-manganese (NCM) chemistries due to the rise in the price of lithium. 

According to Benchmark’s Cathode Price Assessment, high nickel content NCM 811 (8 parts nickel and one each cobalt and manganese) cathodes could be had for $78.64 per kWh on the spot market in October this year. That’s up nearly 18% year to date and a doubling since January 2021.

For LFP, which is close to hitting $50 per kWh today, was only priced at $12.79/kWh in January 2021, which means LFP cathodes are up 288% in less than two years. 

Driven by advances in battery packs to overcome some of the drawbacks of the chemistry in terms of energy intensity, LFP’s overall cathode market share has climbed from 23% in 2017 to nearly 42% this year, according to Benchmark data.

Cathode CAGR tops 40% 

Caspar Rawles, Benchmark’s Chief Data Officer, told the conference audience that global cathode production has increased at an annual compound rate of 42% since 2017 and is forecast to top 2 million tonnes this year. 

Source: Benchmark Mineral Intelligence.

Even that astonishing growth has not been enough to satisfy rampant demand growth from electric cars. Rawles said EV battery demand has really accelerated since 2020 as incentives and regulations in China, Europe and the US caused a step change in auto sales and battery manufacturing capacity. 

Global EV demand measured in kWh expanded some 23% in the four years through 2020, but in the past two years the compound growth rate has climbed to just under $45%. 

IRA

China’s dominance in cathode manufacture is only slowly being chipped away despite the steady stream of announcements of billion dollar battery factory projects in Europe and North America. 

China controls 78% of global output of cathodes (the figure for anodes is 91%) and 70% of the world’s cell production.  

Source: Benchmark Mineral Intelligence.

Rawles says there are various efforts in the West to decouple from China, including Canada ordering China to divest from the country’s lithium industry, $2.8 billion in grants and many times that in loans from the US Dept of Energy,  critical mineral grants under the Defense Production Act, $60 billion in cumulative Environmental Justice Initiatives and $6 billion in credits for up to 30% of manufacturing projects capital expenditure under the Inflation Reduction Act. 

Rawles said the IRA that “shake[s] up the industry” and the US and global EV supply chain, and in particular draws attention to Section 45X  – Advanced Manufacturing Production Tax Credit, which makes available around $30 billion in tax credits: 

“While there is still some information to come out [regarding detailed provisions in the IRA] as a refiner, if you source your materials in the US and you process them to battery grade you’re eligible for 10% of your operating costs.

“But there is no sunset clause on that so theoretically, until the law changes, you can get ten percent of your opex for your lithium refinery for example in perpetuity.”

America first 

The IRA has already provided a big boost to the development of the US battery supply chain, with the US overtaking Europe in the second half of this year in terms of announced new battery capacity. The US battery pipeline is nearing 1 terawatt hours, according to Benchmark.

LG Chem’s recent decision to build a $3.2 billion battery cathode facility in Tennessee alone could more than double North American cathode production when it goes into production in 2027.  

Benchmark calculates the plant could supply 18% of North America’s 2030 cathode demand if it operated at its full announced capacity of 120,000 tonnes a year.

Original Source: EV battery cathode costs spike as lithium price sets fresh record – MINING.COM

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Base Metals Junior Mining Precious Metals

Rover Metals Provides Corporate Update, Including Analyst Report

Rover Metals Corp.
Rover Metals Corp.

VANCOUVER, British Columbia, Dec. 05, 2022 (GLOBE NEWSWIRE) — Rover Metals Corp. (TSXV: ROVR) (OTCQB: ROVMF) (FSE:4XO) (“Rover” or the “Company”) is pleased to provide a corporate update to shareholders and to share its most recent analyst report from Fundamental Research.

Corporate Update
Click here for a pre-recorded corporate update between Judson Culter, CEO at Rover, and U.S. stock-commodity TV journalist personality, Maurice Jackson, of Proven and Probable.

Analyst Report
Fundamental Research Corp. (“FRC”) has published their updated analyst report on Rover, including a positive rating, dated December 1, 2022. The report can be accessed here.

FRC is one of the largest issuer-paid independent stock market research firms in the world, with a 19-year track record of covering 650+ companies. As of November 28, 2022, FRC’s top picks were up 41% on average since the initiation of coverage*. FRC provides fee-based coverage. Their analysts are sought after by the media and at conferences to give their opinions on the market, current topics of interest such as the direction of commodity prices, and top stock picks.

*Past performance is not indicative of future performance.

Judson Culter, CEO at Rover Metals, states “we are developing a lithium mining project in Nevada that has the potential to help fill-in the major supply shortage coming for lithium beginning in H2-2026*. Development of critical mineral projects here in North America is a matter of national security. Mining stocks and the mining sector need to get a second look from domestic investors right now given the global geopolitical climate we’re living in. We welcome due diligence calls on our mining resource development projects. Companies like Rover are subject to naked-short selling and potential malicious trading practises that can be orchestrated by hostile foreign regimes. Rover relies on the support of domestic investors to help sustain uninterrupted development of its resource projects. China’s battery companies are targeting Europe and are forecasted to account for approximately 30% of Europe’s battery production by 2030*.”

*Source: Benchmark Mineral Intelligence, U.K.

New Office Phone Number
Our main office number has recently changed to +1-778-754-2855.

U.S. Trading Ticker
The Company now trades under the ticker ROVMF on the OTCQB.

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. Rover is currently focussed on the development of a claystone lithium project in southwest Nevada, USA. Plans for 2023 include a 1,200-meter reverse circulation drill program at the Let’s Go Lithium project.

The Company has a diverse portfolio of mining resource development projects with varying exploration timelines. Its critical mineral projects include lithium, zinc, and copper. Its precious metals projects include gold and silver. The Company is exclusive to the mining jurisdictions of Canada and the U.S.

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.
Subscribe to our Newsletter on our 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) 754-2855

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.

Categories
Base Metals Precious Metals

The Difference Between Signal and Noise

Dec 3, 2022

I have no idea of how many people write professionally about investing in resource stocks and the metals. I am well aware that there are tens of thousands of punters expressing their opinions on the various chat boards. Most of them are idiots. But then many of the professional writers are idiots, too, trying to feed people’s fantasies. That’s what you get from TV preachers and all politicians (with perhaps the exception of Alberta’s Premier and Pierre Poilievre)

I write books about investing and then I pretty much give them away. You can pick up Nobody Knows Anything and Basic Investing in Resource Stocks for $.99 in the electronic version. If you can’t afford the $.99 you probably are wasting my time and yours because you are too stupid to understand simple concepts. So I will go over it one more time.

There is signal and there is noise.

GATA, conspiracies, gold and silver manipulation, Bill Murphy, Ted Butler and all of the cliptocurrencies are noise. Nothing they say will ever put a penny in your pocket unless it is by accident. There is no time in history where any of them issued both an accurate buy signal and a sell signal that was based on either facts or logic. You can howl at the moon all you wish about how Crimex is stealing but all you are doing is whining.

You can’t make money from noise. Saying that gold and silver are manipulated is akin to saying the sun rises in the east. All financial markets are manipulated and always will be.

Signal on the other hand is based on both facts and logic. If you will bother learning the basics and have any ability to think for yourself you can make a lot of money from the chumps whining about Bitcon and Crimex. I go into it in detail in my two investment books and if you haven’t read them, it means you are the chump that my readers and I will profit by your stupidity.

I did an interview on September 1st and talked about silver. Silver touched $17.56 as the low.

(Click on images to enlarge)

Fast-forward three months and now we had silver at $21.66 on November 24th where it touched a high of $21.66. Between September 1st and November 24th silver climbed 23%. That’s a great move and silver is even higher today but I wanted to show the November 24th price for a reason that I will get into.

I said a month before silver and gold hit their lows that it was coming. I nailed the bottom in silver; gold drifted lower for another four weeks but clearly bottomed on September 28th. For three months I have been trying to convince my readers that low prices are an opportunity. How much simpler can it get?

Stocks go up and down.

When they are cheap you should buy and when they are dear you should sell. It’s in the frigging books. The only people I know who make money on a consistent basis are contrarians. All you have to do is determine what the mob is doing and do the opposite. It is so simple most people can’t come to grips with the concept. Measure the sentiment. When everyone is bullish, you should sell. When everyone is bearish, you should buy. Low prices are not a problem, they are an opportunity.

My favorite sentiment indicator is the DSI that happens to be on sale until December 15th. As valuable as it is, there are other sentiment indicators that may provide other information. I like the $BPGDM chart of the Gold Miners Bullish Percentage Index. It gave a clear signal of a bottom at the end of September just in time to nail the low in gold.

Another signal that I observe but rarely see a clear and convincing signal is the Premium/Discount chart of the Sprott Physical Silver Trust. I used that chart in 2011 to pick the top in silver to the day and when I looked at it recently I saw something very exciting. If you look at the two-year chart it seems that just recently the PSLV is selling at the biggest discount in over two years. In other words the traders in PSLV were highly bearish.

On November 25th the PSLV was selling at the biggest discount, 5.12% since the crash of 2020. Do you remember what silver did after that signal in March of 2020 during the Covid fiasco crash? It went from well under $12 an ounce to almost $30 in the next eleven months. That’s a 150% gain in silver. You almost never see those kinds of moves in the metals. The PSLV is giving a similar signal today but from $17.56.

The low point on that chart is November 25th.

There are few people I track the predictions of mainly because I don’t want to confuse myself. But one of the people I have a ton of time for is Tom McClellan of The McClellan Report. Here is part of what he said just yesterday.

December 01, 2022

Gold prices have moved up by almost $200 off of the October lows. Ordinarily that would bring a response by investors to start buying into GLD and IAU, the big gold bullion ETFs. But they are not doing that (yet), and that is really interesting.

The normal behavior by investors is to buy into these ETFs when gold is rising, and sell out of them when gold prices fall. Extremes of either buying or selling can be useful indications of a sentiment extreme, worthy of a top or bottom for prices. That is how things normally work.
. . .

Given the big jump in gold prices since October, we should expect that public sentiment toward gold should be turning more bullish, but it is not. Investors are still avoiding these ETFs, which means that their bearishness is more firmly rooted. That is actually bullish for gold prices, because to get a top for gold prices we would expect to see investors clamoring to get into gold. They are not at that point yet, which conveys the message that gold is going to have to trend higher for a lot longer to get sentiment to change.

I did find it exceptionally interesting that one of the smartest people I know has come to exactly the same conclusion I have. If you would like to fund your retirement you can do that in the near future. You merely need to learn to think for yourself and understand how contrarian investing works. Figure out what the mob is up to and do the opposite. It’s that easy.

Categories
Base Metals Junior Mining Uncategorized

Ari Sussman from Collective Mining to Present at OTC Markets Group Metals & Mining Virtual Investor Conference on December 8th, 2022

TORONTO, Dec. 1, 2022 /CNW/ – Collective Mining Ltd. (TSXV: CNL) (OTCQX: CNLMF) (“Collective” or the “Company”) will be presenting at the OTC Markets Group, Metals & Mining Virtual Investor Conference on Thursday, December 8, 2022, at 2:00pm ET.

Using the link below, investors can register and listen to the presentation, and take part in a question and answer session at the end. The presentation is expected to last 30 minutes.

DATE: Thursday, December 8, 2022
TIME: 2:00pm ET – 2:30pm ET
LINK: https://bit.ly/3E1tR5k

Please log in 5 minutes early in order to register. An archived webcast will also be made available after the event.

Ari Sussman, Executive Chairman of Collective Mining will be providing an overview and will discuss the Company’s “Main Breccia” discovery at the Apollo target. The Main Breccia discovery is a high-grade and bulk tonnage copper-silver-gold porphyry-related breccia system characterized by two main yet distinct pulses of mineralized fluids flooding the breccia with metals.

The Company’s Guayabales project is located in the mining-friendly department of Caldas, Colombia, in the heart of a long-established mining camp with ten fully permitted and operating mines located within three kilometres of the project. As a result, the Guayabales project is blessed with excellent infrastructure with roads and hydroelectric powerlines traversing the project and an abundant labour force located nearby in the townships of Supia and Marmato.

Three rigs continue to drill at Apollo with holes APC-19 through APC-26 completed and holes APC-27 through APC-29 underway. Additional assay results are anticipated in the near term.

About Collective Mining Ltd.

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

Founded by the team that developed and sold Continental Gold Inc. to Zijin Mining for approximately $2 billion in enterprise value, Collective Mining is a copper, silver and gold exploration company based in Canada, with projects in Caldas, Colombia. The Company has options to acquire 100% interests in two projects located directly within an established mining camp with ten fully permitted and operating mines.

The Company’s flagship project, Guayabales, is anchored by the Apollo target, which hosts the large-scale, bulk-tonnage and high-grade copper, silver and gold Main Breccia discovery. The Company’s near-term objective is to continue with expansion drilling of the Main Breccia discovery while increasing confidence in the highest-grade portions of the system.

Management, insiders and close family and friends own approximately 35% of the outstanding shares of the Company and as a result, are fully aligned with shareholders. The Company is listed on the TSXV under the trading symbol “CNL” and on the OTCQX under the trading symbol “CNLMF”.

FORWARD-LOOKING STATEMENTS

This news release contains certain forward-looking statements, including, but not limited to, 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.

Cision
Cision

View original content: http://www.newswire.ca/en/releases/archive/December2022/01/c2937.html

Categories
Base Metals Energy Junior Mining Precious Metals Project Generators

Riverside Resources Receives US$2,500,000 in Cash and Retains 2% NSR Royalty for the Sale of the Tajitos Gold Project to Fresnillo PLC

Vancouver, British Columbia–(Newsfile Corp. – November 30, 2022) – Riverside Resources Inc. (TSXV: RRI) (OTCQB: RVSDF) (FSE: 5YY) (“Riverside” or the “Company”), is pleased to report it has signed a definitive sale and royalty agreement with Minera Fresnillo, S.A. de C.V. (“Fresnillo”) a wholly owned subsidiary of Fresnillo PLC for the sale of Riverside’s Tajitos Gold Project (“Tajitos”) located in Sonora, Mexico. Riverside will receive a US$2,500,000 cash payment and retain a 2.0% NSR (“Royalty”).

The Tajitos Gold Project is located less than 30 kilometers from Fresnillo’s Noche Buena mining operations. Riverside’s Tajitos Gold Project includes the Tejo and Tajitos mineral concessions covering 45 km² of prospective ground next to Fresnillo’s property (also named Tajitos).

Riverside’s President and CEO, John-Mark Staude, stated: “This transaction adds another quality NSR to our growing royalty portfolio and brings our cash position to more than C$8,000,000, which puts us in a great position to grow our business during 2023-2024. We are pleased to deliver another deal with a high caliber international mining company, which is a testament to the quality of projects our team has generated and Riverside maintains in our property portfolio.”

Transaction Details:

Riverside will receive a payment of US$2,500,000 from Fresnillo and retain a 2.0% NSR. Fresnillo will have, for a four-year term, the option to buy back half of the 2.0% NSR for a payment of US$1.5M. If enacted, then Fresnillo would have an additional three years to buy back the remining 1% NSR for another US$1.5M. If Fresnillo does not exercise its first buy back option during the first four-year term, the Royalty will no longer be subject to any buy back provisions. The NSR covers the entire Riverside land package and a full NSR Agreement has been agreed upon and included in the signed contract between the companies. If Fresnillo wishes to reduce mineral claims, then the Company has the first right to retain those mineral tenures before they are dropped.

Riverside remains focused on its 100% owned projects, within its portfolio in Canada and Mexico, and its alliance with BHP. The Company is also always working towards potential incoming additional alliances and partnerships.

About Riverside Resources Inc.:

Riverside is a well-funded exploration company driven by value generation and discovery. The Company has over $8M in cash, no debt and less than 80M shares outstanding with a strong portfolio of gold-silver and copper assets and royalties in North America. Riverside has extensive experience and knowledge operating in Mexico and Canada and leverages its large database to generate a portfolio of prospective mineral properties. In addition to Riverside’s own exploration spending, the Company also strives to diversify risk by securing joint-venture and spin-out partnerships to advance multiple assets simultaneously and create more chances for discovery. Riverside has properties available for option, with information available on the Company’s website at www.rivres.com.

ON BEHALF OF RIVERSIDE RESOURCES INC.

“John-Mark Staude”

Dr. John-Mark Staude, President & CEO

For additional information contact:

John-Mark Staude
President, CEO
Riverside Resources Inc.
info@rivres.com
Phone: (778) 327-6671
Fax: (778) 327-6675
Web: www.rivres.com

Mehran Bagherzadeh
Corporate Communications
Riverside Resources Inc.
Mehran@rivres.com
Phone: (778) 327-6671
TF: (877) RIV-RES1
Web: www.rivres.com

Certain statements in this press release may be considered forward-looking information. These statements can be identified by the use of forward-looking terminology (e.g., “expect”,” estimates”, “intends”, “anticipates”, “believes”, “plans”). Such information involves known and unknown risks — including the availability of funds, the results of financing and exploration activities, the interpretation of exploration results and other geological data, or unanticipated costs and expenses and other risks identified by Riverside in its public securities filings that may cause actual events to differ materially from current expectations. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release.

Neither the 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.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/146185

Categories
Base Metals Junior Mining

Noram Highlights Milestones During 2022

VANCOUVER, BC / ACCESSWIRE / November 30, 2022 / Noram Lithium Corp. (“Noram” or the “Company“) (TSXV:NRM)(OTCQB:NRVTF)(Frankfurt:N7R) is pleased to review the Company’s activities during 2022 and to highlight upcoming catalysts at its 100%-owned high-grade Zeus Lithium Project in Clayton Valley, Nevada.

Highlights of 2022 Corporate Milestones:

  • COMPLETION OF STRATEGIC FINANCING:
    • Closing of US$14 Million strategic financing with Waratah Capital Advisors and Lithium Royalty Corp. at $0.825 with no warrant and no finder’s fee or commission. Noram is now fully financed through 2023 to complete a Definitive Feasibility Study (“DFS”).
  • ADDITIONAL MANAGEMENT APPOINTMENTS:
    • In March 2022, the Company appointed Bradley C. Peek, as Vice President of Exploration.
    • In August 2022, the Company appointed Simon D. Studer, as Vice President of Corporate Development – Europe.
    • In October 2022, the Company appointed Dr. Vahid Sohrabi, as Technical Advisor to the Board.
  • ZEUS PROJECT ADVANCEMENT:
    • Completed Phase VI exploration program consisting of 12 holes on time and within budget. The focus of the program was to upgrade existing inferred resources into the measured indicated categories to be utilized in the Pre-Feasibility Study.
    • All drill holes intersected high grade lithium over significant lengths and, upon completion in the coming weeks, the Company anticipates a robust 6th resource model that may align Noram with our peers regarding contained measured and indicated resources of lithium carbonate equivalent (“LCE”).
  • ANALYST COVERAGE RECEIVED:
    • Two groups announced analyst coverage: Koby Kushner – Mining Analyst at Red Cloud Securities and Sid Rajeev – Fundamental Research Corp.

“2022 was another successful year for Noram and our shareholders. We will end the year in a very strong cash position, with a tightly controlled share structure, debt free, fully financed to reach the final feasibility stage, and with no further dilution to our shareholders until 2024,” stated Mr. Sandy McDougall, CEO of Noram. “We remain confident that our pre-feasibility study will be completed in early 2023, and noting the importance of this technical report, our technical team and consultants are working through all components to deliver a quality report. I look forward to a very busy 2023 as we focus on de-risking the Zeus Lithium Project to further rerate Noram amongst its peers.”

The technical information contained in this news release has been reviewed and approved by Bradley C. Peek, MSc, CPG, Vice President Exploration for Noram, who is a Qualified Person as defined under National Instrument 43-101.

Engagement of Native Ads, Inc.
Noram has retained Native Ads, Inc. (“Native Ads“), an arms-length party, to provide investor relations services in the form of strategic digital media services, marketing and data analytics services including, but not limited to, content development, video production and editing, website development, median buying and distribution, and campaign reporting and optimization. These services are set to commence in December 2022 pursuant to a consulting agreement dated November 23, 2022, and the Company has agreed to pay Native Ads fees totaling $90,000 USD for an initial service period of 6 months.

Native Ads has agreed to comply with all applicable securities laws and the policies of the TSX Venture Exchange in providing the services to the Company. Native Ads has offices in Vancouver, B.C. and New York, NY and delivers services to a diverse group of clients across North America, providing strategic digital media services, marketing and data analytic services and provides services to a diverse group of clients across North America. The appointment of Native Ads is subject to approval by the TSX Venture Exchange.

About Noram Lithium Corp.
Noram Lithium Corp. (TSXV:NRM | OTCQB:NRVTF | Frankfurt:N7R) is a well-financed Canadian based advanced Lithium development stage company with less than 90 million shares issued and a fully funded treasury. Noram is aggressively advancing its Zeus Lithium Project in Nevada from the development-stage level through the completion of a Pre-Feasibility Study in early 2023.

The Company’s flagship asset is the Zeus Lithium Project (“Zeus”), located in Clayton Valley, Nevada. The Zeus Project contains a current 43-101 measured and indicated resource estimate* of 363 million tonnes grading 923 ppm lithium, and an inferred resource of 827 million tonnes grading 884 ppm lithium utilizing a 400 ppm Li cut-off. In December 2021, a robust PEA** indicated an After-Tax NPV (8) of US$1.3 Billion and IRR of 31% using US$9,500/tonne Lithium Carbonate Equivalent (LCE). Using the LCE long term forecast of US$14,250/tonne, the PEA indicates an After-Tax NPV (8%) of approximately US$2.67 Billion and an IRR of 52%.

Please visit our web site for further information: www.noramlithiumcorp.com.

ON BEHALF OF THE BOARD OF DIRECTORS
Sandy MacDougall
Chief Executive Officer and Director
C: 778.999.2159

For additional information please contact:
Peter A. Ball
President and Chief Operating Officer
peter@noramlithiumcorp.com
C: 778.344.4653

Neither the 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. This news release may contain forward-looking information which is not comprised of historical facts. Forward-looking information involves risks, uncertainties and other factors that could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information. Forward-looking information in this news release includes statements regarding, among other things, the completion transactions completed in the Agreement. Factors that could cause actual results to differ materially from such forward-looking information include, but are not limited to, regulatory approval processes. Although Noram believes that the assumptions used in preparing the forward-looking information in this news release are reasonable, including that all necessary regulatory approvals will be obtained in a timely manner, undue reliance should not be placed on such information, which only applies as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. Noram disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, other than as required by applicable securities laws. *Updated Lithium Mineral Resource Estimate, Zeus Project, Clayton Valley, Esmeralda County, Nevada, USA (August 2021) **Preliminary Economic Assessment Zeus Project, ABH Engineering (December 2021).

SOURCE: Noram Lithium Corp.



View source version on accesswire.com:
https://www.accesswire.com/729413/Noram-Highlights-Milestones-During-2022

Categories
Base Metals Energy Exclusive Interviews Precious Metals

Collective Mining – Expands the Main Breccia at Apollo

Joining us for a conversation is Ari Sussman of Collective Mining, Colombia’s Most Exciting Exploration Company. Collective Mining has just announced another significant development coming from the flagship Guayabales Project. Today’s discussion will focus on the Main Breccia at the Apollo Target which is delivering High Grade along with some remarkable continuity with a new Strike of 385 Meters, Width at 350 Meters, and Vertical 825 Meters!

In this video, we’ll be highlighting Collective Mining and their recent Breccia expansion at the Apollo Target. Collective Mining is becoming a front runner in the junior mining space with their flagship Guayables Project,

COLLECTIVE MINING:
Listing:(TSX.V: CNL | OTCQX: CNLMF)
Website: https://www.collectivemining.com/
Press Release: https://provenandprobable.com/step-out-drilling-materially-expands-the-overall-dimensions-of-collective-minings-main-breccia-discovery-at-apollo/
Corporate Presentation: https://www.collectivemining.com/investors/presentations/
Facebook: https://www.facebook.com/CollectiveMiningCol
Twitter: https://twitter.com/CollectiveMini1
LinkedIn: https://www.linkedin.com/company/collectivemining/?originalSubdomain=co
Instagram: https://www.instagram.com/collectivemining/
Youtube: https://www.youtube.com/channel/UC0J8zpCq0TNhJQePKdCrJag

Collective Mining: Rapidly advancing, large scale gold-copper-silver-moly porphyry and breccia targets with related high-grade vein systems in the mining-friendly department of Caldas in Colombia

Collective Mining’s two projects the Guayabales (Flagship) and the San Antonio (Secondary) are situated in Marmato, an underexplored yet multi-million ounce, high-grade gold and silver district located in the Middle Cauca belt in Colombia. With six out of eleven targets drilled, the Company has made three promising grassroot discoveries to date and is awaiting assay results on a potential fourth discovery. Drilling activity continues at a brisk pace with a 20,000+ metre drill program in 2022.

The Best Video on WHY and WHEN to Buy and Sell Physical Precious Metals:

Proven and Probable
Where we deliver Mining Insights & Bullion Sales. I’m a licensed broker for Miles Franklin Precious Metals Investments, The Only Online Dealer that is Licensed and Bonded (Period)! Where we provide unlimited options to expand your precious metals portfolio, from

Website| www.provenandprobable.com
Call me directly at 855.505.1900 or email: Maurice@MilesFranklin.com
Precious Metals FAQ – https://www.milesfranklin.com/faq-maurice/

Categories
Base Metals Energy Junior Mining Precious Metals

Stillwater Critical Minerals Files Early Warning Report Regarding its Holdings of Heritage Mining

Stillwater Critical Minerals, Proven and Probable

VANCOUVER, BC / ACCESSWIRE / November 29, 2022 / Stillwater Critical Minerals (formerly Group Ten Metals) (TSX.V:PGE)(OTCQB:PGEZF)(FSE:5D32) (the “Company” or “SWCM”) announces it has filed an Early Warning Report related to its holdings of 3,900,000 common shares of Heritage Mining Ltd. (“Heritage”) (CSE: HML) which represents approximately 11.8% of the total issued and outstand shares of Heritage. These shares were issued to Stillwater Critical Minerals as well as a cash payment of $150,000 and completion of $500,000 project work to satisfy first anniversary commitments per the Definitive Earn-In Agreement announced November 29, 2021 with respect to the Drayton-Black Lake gold project in Ontario, Canada.

The Heritage shares are held directly by Stillwater Critical Minerals for investment purposes. Additional share payments to Stillwater Critical Minerals are required under the Agreement and SWCM may in the future take such actions in respect of its shares as it deems appropriate in light of the market circumstances then existing including the sale of all or a portion of such holdings in the open market or in privately negotiated transactions to one or more purchasers.

There are no persons acting jointly or in concert with Stillwater Critical Minerals with respect to the shareholdings in Heritage, nor has the Company entered into any agreements in respect of its shareholdings in Heritage with any person with which SWCM acts jointly or in concert.

This news release is being issued in accordance with National Instrument 62-103 – The Early Warning System and Related Take-Over Bid and Insider Reporting Issues in connection with the filing of an early warning report. The early warning report respecting the acquisition will be filed on the System for Electronic Document Analysis and Retrieval (“SEDAR”) at www.sedar.com.

About Stillwater Critical Minerals Corp.

Stillwater Critical Minerals (TSX.V: PGE | OTCQB: PGEZF) is a mineral exploration company focused on its flagship Stillwater West PGE-Ni-Cu-Co + Au project in the iconic and famously productive Stillwater mining district in Montana, USA. With the recent addition of two renowned Bushveld and Platreef geologists to the team, the Company is well positioned to advance the next phase of large-scale critical mineral supply from this world-class American district, building on past production of nickel, copper, and chromium, and the on-going production of platinum group and other metals by neighbouring Sibanye-Stillwater. The Platreef-style nickel and copper sulphide deposits at Stillwater West contain a compelling suite of critical minerals and are open for expansion along trend and at depth, with an updated NI 43-101 mineral resource update currently in progress.

Stillwater Critical Minerals also holds the high-grade Black Lake-Drayton Gold project adjacent to Treasury Metals’ development-stage Goliath Gold Complex in northwest Ontario, which is currently under an earn-in agreement with an option to joint venture whereby Heritage Mining may earn up to a 90% interest in the project by completing payments and work on the project. The Company also holds the Kluane PGE-Ni-Cu-Co project on trend with Nickel Creek Platinum‘s Wellgreen deposit in Canada‘s Yukon Territory.

FOR FURTHER INFORMATION, PLEASE CONTACT:

Michael Rowley, President, CEO & Director
Email: info@criticalminerals.com Phone: (604) 357 4790
Web: http://criticalminerals.com Toll Free: (888) 432 0075

Neither the 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.

SOURCE: Stillwater Critical Minerals



View source version on accesswire.com:
https://www.accesswire.com/729213/Stillwater-Critical-Minerals-Files-Early-Warning-Report-Regarding-its-Holdings-of-Heritage-Mining

Categories
Base Metals Junior Mining Precious Metals

Collective Mining Significantly Expands the Main Breccia Discovery at Apollo and Drills Near Surface High-Grade Mineralization Including 168.6 Metres at 2.91 g/t Gold Equivalent

  • Drill hole APC-17, a significant step-out hole to the north, intersected two zones of mineralization within the Main Breccia discovery at the Apollo target. The shallow zone, which was intersected directly below where the Main Breccia daylights at surface cut the following interval:
  • The second zone encountered in hole APC-17 cut the longest intercept of continuous mineralization within the Main Breccia discovery drilled to date with results as follows:
  • Drill hole APC-17, which was terminated at 912.8 metres due to rig capacity, bottomed in strong mineralization with the final 2.75 metres averaged 1.56 g/t gold, 9 g/t silver and 0.03% copper.
  • Drill hole APC-18 intersected near surface and high-grade copper-silver-gold mineralization approximately 300 metres to the north of the near surface intercept in APC-17. The mineralized breccia in this zone is strongly overprinted by numerous zones of carbonate, base metal veins with assay results as follows:
  • With the result of step out hole APC-17 and recently announced visuals from step out hole APC-22, the Main Breccia discovery now measures up to 385 metres along strike by 350 metres in width (previously 190 metres) and has been extended down to a vertical depth of 825 metres below surface (previously 500 metres). The discovery remains wide open for expansion and further step-out holes are currently being designed.
  • Three rigs continue to drill at Apollo with holes APC-19 through APC-26 completed and holes APC-27 through APC-29 underway.  Additional assay results are anticipated in the near term.

TORONTO, Nov. 29, 2022 /CNW/ –  Collective Mining Ltd. (TSXV: CNL) (OTCQX: CNLMF) (“Collective” or the “Company”) is pleased to announce assay results from four additional holes drilled 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. As part of its fully funded 23,000 metre drill program for 2022, there are currently three diamond drill rigs operating at the Apollo target.

“The intersection of high-grade and shallow mineralization at Apollo demonstrates the excellent metal endowment of the Main Breccia and most importantly, the dimensions of the system continue to expand and clearly point to the fact that we are dealing with a large-scale discovery. It is truly remarkable to drill a 912-metre-long hole that bottoms in mineralization. Finally, the shallow, higher grade intercepts encountered in APC-17 and APC-18 are more than 300 metres apart and confirms that the southern portion of the deposit is where the system comes to surface. As a result, we are about to start construction of a new drill pad located between the two shallow intercepts in order to start defining the shallow portion of the Main Breccia mineralized system,” commented Ari Sussman, Executive Chairman.

Details (See Table 1 and Figures 1–3)

Nineteen diamond drill holes with accompanying assay results have now been announced at Apollo and a further eleven holes are outstanding. The Company recently completed four drill holes; one northerly directed, step out hole (APC-17), to test for mineralized extensions to the Main Breccia discovery, a second shallow hole drilled southwesterly to define extensions of newly discovered mineralized breccia outcrops located in the southern portion of the deposit and two fringe holes drilled at shallow angles to the west of the Main Breccia discovery.

Drill hole APC-17 was drilled approximately due north to a maximum depth of 912.60 metres. The hole intersected three mineralized zones: 72.3 metres of mineralization beginning at 118.20 metres down hole (100m vertical), 11.65 metres of mineralized breccia from 252.6 metres (220m vertical) and another 547.65 metres of mineralization from 365.15 metres down hole (330m vertical) to the end of the hole at 912.80m (825m vertical).  The hole terminated while still in mineralized breccia due to limitations of the drill rig. Total cumulative mineralization in this diamond drill hole was 628.3 metres and is the most mineralization drilled in a single hole to date into the Main Breccia discovery at Apollo. The shallow intercept is hosted within angular porphyry related breccia containing chalcopyrite (1-2%) with pyrite and pyrrhotite and is located directly beneath recently discovered mineralization outcropping at surface. The deeper and longer intercept is also hosted within angular porphyry related breccia with the matrix filled with pyrite, some chalcopyrite and overprinting carbonate base metal veins (“CBM”). The following results are highlighted:

  • 72.3 metres @ 2.57 g/t gold equivalent consisting of 1.00 g/t gold, 28 g/t silver and 0.63% copper (100 metres vertical).
  • 11.65 metres @ 1.88 g/t gold equivalent consisting of 1.80 g/t gold, 4 g/t silver and 0.05% copper (220m vertical).
  • 547.65 metres @ 1.03 g/t gold equivalent consisting of 0.76 g/t gold, 14 g/t silver and 0.04% copper (330m vertical).

Drill hole APC-18 was drilled in a southwest direction and intersected shallow, copper-silver-gold mineralization from 136.05 metres to 304.65 metres with the hole terminating at a final depth of 499.05 metres. The mineralized breccia contains a matrix of chalcopyrite and pyrite is strongly overprinted by numerous zones of CBM veins hosting sphalerite and galena. The hole was drilled below outcrops of breccia mineralization in the south-central portion of the deposit with assay results as follows:

  • 168.6 metres @ 2.91 g/t gold equivalent consisting of 0.98 g/t gold, 69 g/t silver and 0.5% copper (85 metres vertical).

With the result of APC-17 and recently announced visuals from APC-22, the potential total volume of rock hosting the Main Breccia discovery within it has approximately tripled in size with the dimensions now measuring 385 metres along strike by 350 metres width by 825 metres depth versus prior dimensions of 385 metres x 190 metres x 500 metres. The discovery remains wide open for expansion and further step-out holes are currently being designed.

Holes APC-15 and APC-16 were drilled at shallow angles on the western periphery of the main breccia body. APC-15 was drilled to the northwest and intersected mineralized crackle breccia returning 56.05 metres @ 0.57 g/t gold equivalent from 68.6 metres (55 metres vertical). This is a new mineralized area outside of the Main Breccia discovery at Apollo. APC-16 was also drilled outside the Main Breccia discovery to the southwest and intersected 500 parts per million copper in crackle breccia from 200 metres and until the end of the hole at 303.35 metres. The Company believes that both APC-15 and APC-16 may have drilled over the top of the Main Breccia discovery in these locations.

Three rigs continue to drill at Apollo with additional assay results anticipated in the near term.

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

HoleIDFrom
(m)		To
 (m)		Intercept
(m)		Au
(g/t)		Ag
(g/t)		Cu
%		Mo
%		AuEq
(g/t)*		CuEq
(%)*
APC-18136.05304.65168.600.98690.500.0022.911.48
Incl149.20157.007.805.08350.520.0026.343.23
193.20205.1011.902.181540.770.0015.812.97
233.90251.5017.601.49560.740.0023.631.85
291.65297.005.353.26100.110.0013.471.77
APC-17118.20190.5072.301.00280.630.0042.571.31
Incl121.90130.408.502.42300.610.0053.912.00
APC-17252.60264.2511.651.8040.050.0021.88–
and365.15912.80547.650.76140.040.0011.03–
Incl527.80561.1033.303.01190.050.0023.23–
579.20596.8017.602.37250.060.0012.74–
816.00837.5021.501.53280.090.0012.04–
APC-16NSV*
APC-1554.20110.2556.050.375––0.57–
Incl68.6069.100.506.2615––6.27–
77.8579.201.354.1720––4.41–
and180.95181.650.7013.299––12.81–
206.95207.500.557.875––7.61–
*AuEq (g/t) is calculated as follows: (Au (g/t) x 0.95) + (Ag g/t x 0.016 x 0.95) + (Cu (%) x 1.96 x 0.95)+ (Mo (%)*7.35 x 0.95) and CuEq (%) is calculated as follows:  (Cu (%) x 0.95) + (Au (g/t) x 0.51 x 0.95) + (Ag (g/t) x 0.01 x 0.95)+ (Mo(%)x 3.75 x 0.95) utilizing metal prices of Cu – US$4.00/lb, Ag – $22/oz Mo US$15.00/lb and Au – US$1,400/oz and recovery rates of 95% for Au, Ag, Mo and Cu. Recovery rate assumptions are speculative as no metallurgical work has been completed to date.
** A 0.2 g/t AuEq cut-off grade was employed with no more than 15% internal dilution. True widths are unknown, and grades are uncut.
*** NSV: No significant values
Figure 1: Plan View of the Guayabales Project Highlighting the Apollo Target (CNW Group/Collective Mining Ltd.)
Figure 1: Plan View of the Guayabales Project Highlighting the Apollo Target (CNW Group/Collective Mining Ltd.)
Figure 2: Plan View of the Main Breccia discovery at Apollo Highlighting New Drill Holes APC17 & APC-18 and the Expanded Dimensions of the Discovery (CNW Group/Collective Mining Ltd.)
Figure 2: Plan View of the Main Breccia discovery at Apollo Highlighting New Drill Holes APC17 & APC-18 and the Expanded Dimensions of the Discovery (CNW Group/Collective Mining Ltd.)
Figure 3: Apollo Target: Main Breccia Cross Section with Core Photo Highlights from APC-17 (CNW Group/Collective Mining Ltd.)
Figure 3: Apollo Target: Main Breccia Cross Section with Core Photo Highlights from APC-17 (CNW Group/Collective Mining Ltd.)

About Collective Mining Ltd.

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

Founded by the team that developed and sold Continental Gold Inc. to Zijin Mining for approximately $2 billion in enterprise value, Collective Mining is a copper, silver and gold exploration company based in Canada, with projects in Caldas, Colombia. The Company has options to acquire 100% interests in two projects located directly within an established mining camp with ten fully permitted and operating mines.

The Company’s flagship project, Guayabales, is anchored by the Apollo target, which hosts the large-scale, bulk-tonnage and high-grade copper, silver and gold Main Breccia discovery. The Company’s near-term objective is to continue with expansion drilling of the Main Breccia discovery while increasing confidence in the highest-grade portions of the system.

Management, insiders and close family and friends own nearly 35% of the outstanding shares of the Company and as a result, are fully aligned with shareholders. The Company is listed on the TSXV under the trading symbol “CNL” and on the OTCQX under the trading symbol “CNLMF”.

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.

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