Category: Energy

Collective Mining Reviews 2022 Achievements & Provides Preliminary Plans for 2023

Post author By admin
Post date December 28, 2022

TORONTO, Dec. 28, 2022 /CNW/ – Collective Mining Ltd. (TSXV: CNL) (OTCQX: CNLMF) (“Collective” or the “Company”) is pleased to provide an overview of its achievements in 2022 and a preliminary outline of its plans for 2023.

The Company enjoyed an outstanding year exploring in the field as well as building relationships and related sustainability efforts off the field with its employees and stakeholders. Importantly, buy-in by employees of the Company’s health and safety program has resulted in a record low Total Recordable Injury Frequency Rate (“TRIFR”) of 1.44 (Dec. 2021 – Nov. 2022) and as of December 19, 2022, the Company’s employees have gone 333 days without recording a safety incident.

Exploration efforts in 2022 were directed at the Company’s flagship Guayabales project (“Guayabales”) where a major grassroot discovery was drilled at the Apollo target along with two additional earlier stage drilling discoveries at the Olympus and Trap targets. Guayabales is located in an established mining camp with 10 fully permitted and operating mines located within a three-kilometre radius and enjoys excellent infrastructure with abundant labor in close proximity. Additionally, Guayabales is contiguous to the Aris Mining’s multi-million-ounce Marmato project, which was awarded its PTO by the national government of Colombia in November 2022.

2022 Highlights

Guayabales Project

Drilling: In 2022, the Company drilled a total of 22,907 metres on schedule and on budget, of which 14,975 metres (30 holes) were drilled at the Apollo target.
Discovery 1: Apollo Target Main Breccia Discovery: The Company announced a significant grassroots discovery of a new bulk tonnage and high-grade, copper-silver-gold porphyry-related breccia system named the Main Breccia. The discovery hole for the Main Breccia system was announced on June 22, 2022, and since that time a total of 21 holes have been announced with an additional 9 holes awaiting assay results in the near term. From only a limited number of holes, the maximum known dimensions of the volume of rock, within which the Main Breccia system is hosted, measures 385 metres along strike by 350 metres across by 825 metres vertical. The system remains open for expansion in all directions. Apollo owes its excellent metal endowment to multiple phases of mineralization which include earlier gold-silver-copper breccia matrix mineralization derived from a porphyry source and younger, overprinting, sheeted carbonate base metal vein systems. Highlight assay results for drill holes into the Main Breccia system include:

Table 1: Select Assay Results of Holes Drilled into the Main Breccia Discovery at Apollo

Hole #	From (m)	To (m)	Intercept (m)	Au (g/t)	Ag (g/t)	Cu%	Zn %	Pb%	Mo %	AuEq (g/t)*	CuEq (%)*
APC-2	154.75	361.90	207.15	1.46	45	0.31	0.075	0.05	0.002	2.68	1.37
Incl	192.50	209.90	17.40	6.57	44	0.08	0.285	0.23	0.003	7.33
	270.65	291.60	20.95	3.67	68	0.41	0.034	0.03	0.002	5.21
APC-8	202.00	467.75	265.75	1.26	55	0.22	0.07	0.05	0.045	2.44	1.24
Incl	202.00	215.20	13.20	3.68	27	0.03	0.32	0.24	0.238	4.29
	239.05	257.50	18.45	3.48	53	0.12	0.24	0.22	0.216	4.55
	279.40	307.85	28.45	3.70	24	0.16	0.03	0.02	0.016	4.18
	342.60	358.10	15.50	2.15	158	0.47	0.13	0.10	0.104	5.21
APC-12	191.35	429.05	237.7	1.15	72	0.38	0.08	0.07	0.001	2.88	1.47
Incl	209.70	224.00	14.30	4.01	77	0.21	0.27	0.26	0.001	5.58
	339.55	361.30	21.75	3.84	210	0.68	0.37	0.45	0.001	8.27
	416.90	429.05	12.15	3.64	84	0.22	0.04	0.06	0.001	5.09
APC-14	84.25	131.70	47.45	0.81	13	0.20	0.01	0.00	0.003	1.36	0.7
	197.00	391.30	194.30	0.39	56	0.44	0.03	0.01	0.002	2.00	1.02
APC-18	136.05	304.65	168.60	0.98	69	0.50	0.04	0.03	0.002	2.91	1.48
Incl	149.20	157.00	7.80	5.08	35	0.52	0.02	–	0.002	6.34	3.23
	193.20	205.10	11.90	2.18	154	0.77	0.18	0.20	0.001	5.81	2.97
	233.90	251.50	17.60	1.49	56	0.74	0.05	0.02	0.002	3.63	1.85
	291.65	297.00	5.35	3.26	10	0.11	0.01	–	0.001	3.47	1.77
APC-19	199.20	497.80	298.6	0.48	34	0.31	0.04	0.02	0.002	1.54	0.79
Incl	199.20	323.50	124.30	0.62	64	0.63	0.05	0.02	0.002	2.72	1.39
	491.30	497.80	6.50	2.33	26	0.04	0.08	0.06	0.001	2.69
APC-20	298.20	400.40	102.20	2.72	28	0.08	0.21	0.15	0.001	3.38
Incl	324.25	357.85	33.60	6.30	45	0.08	0.42	0.33	0.001	7.30

Figure 1: Plan View of the Main Breccia Discovery at Apollo (CNW Group/Collective Mining Ltd.)

Apollo Target: New Undrilled Porphyry Target: On December 14, 2022, the Company announced the discovery of a significant high-grade copper and molybdenum soil anomaly located only 150 metres south of the southernmost edge of the Main Breccia discovery. Drilling is planned for early 2023 to test the target, which could be the source of the porphyry copper mineralization found in the Main Breccia system.
Apollo Target: Metallurgy: The Company successfully completed cyanide leach, bottle-roll test on three representative composite sulphide samples from the Main Breccia discovery. Importantly, the samples covered all major styles of mineralization hosted within the Main Breccia discovery and yielded excellent recovery rates for gold up to 97%.
Discovery #2: Olympus: The Company made its second grassroots discovery on March 25, 2022, at the Olympus target. The discovery is characterized by broad drilling intercepts of medium grade gold and silver with minor associated base metal credits. The Olympus discovery covers an area measuring 1.0 km by 0.9 km and remains open in most directions. A three-hole, phase II program was recently completed with assay results expected in Q1, 2023. Highlight Phase I assay results for drill holes at Olympus include:

Table 2: Select Assay Results from Drilling at the Olympus Target

Hole #	From (m)	To (m)	Intercept (m)	Au (g/t)	Ag (g/t)	Cu%	Zn %	Pb%	Mo %	AuEq (g/t)*
OLCC-3	61.70	363.60	301.90	0.89	11.82	0.03	0.03	0.03	0.002	1.11
OLCC-4	73.00	289.70	216.70	0.79	13.84	0.04	0.02	0.03	0.004	1.08

Discovery #3: Trap: The Company announced its third grassroots discovery at the Trap target on September 27, 2022. Trap is a north to northwest trending, structurally controlled corridor with evidence of overprinting porphyry B veins and late-stage carbonate base metals veins. Highlights from the reconnaissance drill program at Trap include:

Table 3: Select Assay Results from Drilling at the Trap Target

Hole #	From (m)	To (m)	Intercept (m)	Au (g/t)	Ag (g/t)	Cu%	Zn %	Pb%	Mo %	AuEq (g/t)*	CuEq (%)*
TRC-1	233.8	336.0	102.20	1.26	12	0.09	0.08	0.01	0.003	1.53	0.90
VICE-2	214.6	233.50	18.90	1.06	36	0.18	0.18	0.12	0.005	1.83	1.13

Corporate & Sustainability, Strategic Alliances

Financing: In October, the Company closed a $10.7 million bought deal financing comprised of 4,783,400 units at $2.25 per unit, including one half of one common share purchase warrant at $3.25, excisable until April 25, 2024.
OTC Listing: The Company upgraded its US-based listing to the OTCQX exchange from the Pink® market, trading under the symbol CNLMF.
Strategic Alliances:

2023 Preliminary Plans

Equipped with a strong balance sheet, the Company will continue to actively drill the Apollo target. The program will focus on targeting the high-grade subzones within the Main Breccia system while simultaneously expanding the size of the system. Additionally, the Company will remain aggressive in testing new targets including the newly generated copper and molybdenum porphyry target located 150 metres south of the Main Breccia system. Drilling will resume in early January 2023.
Assays for the remaining and completed 2022 drill holes at Apollo remain outstanding and will be announced throughout early 2023.

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.

View original content to download multimedia: http://www.newswire.ca/en/releases/archive/December2022/28/c9404.html

Tags #AriSussman, #CNL, #Guayabales, #ProvenAndProbable, Apollo Target, Collective Mining

Collective Mining Energy Junior Mining Precious Metals

Collective Mining Reports Positive Preliminary Metallurgical Test Results from the Main Breccia Discovery at Apollo with up to 97% Gold Recovery from Cyanide Leach

Post author By admin
Post date December 21, 2022

TORONTO, Dec. 21, 2022 /CNW/ – Collective Mining Ltd. (TSXV: CNL) (OTCQX: CNLMF) (“Collective” or the “Company”) is pleased to announce preliminary metallurgical test results from three variability samples from its Main Breccia discovery 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. The metallurgical test work program was undertaken by SGS Laboratories in Lima, Peru.

Highlights:

Initial cyanide leach, bottle-roll metallurgical test work was undertaken on three representative sulphide samples from the Apollo Breccia discovery and returned gold recoveries ranging from 90% to 97%. These results clearly demonstrate that high recoveries for gold can be achieved with cyanide leaching.
The three samples were all sulphide ores with a range of gold values (1.17 g/t to 8.01 g/t gold) and were taken from the upper, central and lower portions of the Main Breccia discovery at Apollo. The samples consisted of mineralized angular breccia and contained clasts of diorite and quartz diorite porphyry with a flooded matrix of chalcopyrite, pyrite and pyrrhotite. Samples 2 and 3 also contained overprinting carbonate base metal (“CBM”) vein material resulting in higher gold grades. The samples were selected from depths ranging between 150 metres to 400 metres vertically below surface.
As drilling progresses, further metallurgical studies will be undertaken including whole ore flotation tests to isolate and recover chalcopyrite and optimize silver recoveries. Variability sampling and subsequent test work will also be undertaken throughout the deposit and will include shallow and oxide ores.
The Company has just completed its 23,000-metre drilling program for 2022 at the Guayabales project. Assay results are pending for the final nine holes drilled at the Apollo target and are expected in the near term.
The next phase of drilling will commence at the Apollo target in early 2023 with three diamond rigs. The focus of the program will be to continue expanding the Main Breccia discovery while simultaneously drill the first ever holes into the newly generated porphyry target located 150 metres south of the Main Breccia discovery.

Executive Chairman, Ari Sussman commented: “The results of the first phase of metallurgical testing collected from representative samples of the Main Breccia system at Apollo confirm that gold can be extracted with conventional processing at high recovery rates. We look forward to advancing the metallurgical work to ultimately develop a conventional flow sheet to produce copper, silver and gold from this bulk tonnage and high-grade system.”

Details

Sample ID	Description	Au (g/t)	Ag (g/t)	Cu%	% Rec Au 24hr	% Rec Au 48hr	% Rec Au 72hr	% Rec Ag 24hr	% Rec Ag 48hr	% Rec Ag 72hr
APBRT-01	Mineralized Angular Breccia (BAM) from the central portion of the system	1.17	53.83	1.04	82.34	87.12	90.7	42.83	43.76	49.19
APBRT-02	BAM with carbonate base metal (CBM) veins in the hanging wall portion of the system	4.92	16.05	0.06	82.7	86.42	92.51	49.58	48.74	52.34
APBRT-03	BAM with veins in the footwall portion of system	8.01	56.08	0.10	93.44	93.08	97.57	36.59	41.73	46.27
P80 = 75 microns, pH = 10.5-11, CN= 1000 ppm

Description of Samples Subjected to Cyanide Leach Bottle Roll Testing

APBRT-01:

Location: Apollo in the central portion of the Main Breccia
Composite Length: 4.4 metres
Hole Id: APC_014
Core depth interval: From 216.85 metres to 221.25 metres
Macroscopic description: Mineralized angular breccia with pervasive Sericite altered clasts and carbonates with chlorite and quartz in cement. Principal sulphides are chalcopyrite and pyrite.

APBRT-02:

Location: Apollo in the footwall portion of the Main Breccia
Composite Length: 4.15 metres
Hole Id: APC_008
Depth interval: From 457.85 metres to 462 metres
Macroscopic description: Mineralized angular breccia with carbonates plus chlorite and sericite alteration. Principal sulphides include chalcopyrite, pyrrhotite and pyrite. There are veinlets overprinting the mineralized angular breccia, which contain carbonates, pyrite plus sphalerite.

APBRT-03:

Location: Apollo in the hanging wall portion of the Main Breccia
Composite Length: 3.75 metres
Hole Id: APC_003
Depth interval: From 387.5 metres to 391.25 metres
Macroscopic description: Mineralized angular breccia with carbonate base metals (CBM) veinlets. The main sulphide minerals are sphalerite, galena, chalcopyrite, and pyrite.

Figure 1: Plan View of the Guayabales Project Highlighting the Apollo Target Location (CNW Group/Collective Mining Ltd.)

Grant of Annual Stock Options

The Company also announces the grant of incentive stock options (the “Options) to certain directors, officers, employees and service providers of the Company to acquire an aggregate of 925,000 common shares in the capital of the Company, in accordance with the Company’s 10% rolling incentive stock option plan and the provisions of the TSX Venture Exchange. 610,000 Options were issued to directors, officers and investor relations personnel of the Company. The Options were granted at an exercise price of $2.83, are exercisable for a five-year term and vest 25 percent every six months.

About Collective Mining Ltd.

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

Qualified Person (QP) and NI43-101 Disclosure

Technical Information

Rock and core samples have been prepared and analyzed at SGS metallurgical laboratory in Lima, Peru. The lab is accredited under suitable international standards and all procedures performed by the lab were completed in adherence with the Company’s 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 and metallurgical recoveries, 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.

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/December2022/21/c7595.html

Base Metals Diamcor Mining Dolly Varden Silver Energy Exclusive Interviews Junior Mining Lion One Metals Oil & Gas Precious Metals Silver Bullet Mines

Bob Moriarty – Mining, Metals, War

Post author By admin
Post date December 15, 2022

In this interview, we sit down with Bob Moriarty to discuss: ‘Moriarty’s First Law of Unintended Consequences‘ We discuss a broad range of topics ranging from the War in Ukraine, the importance of oil (fossil fuels), precious metals, and resource stocks! We also highlight the value thesis of contrarian investing/speculation.
Bob Moriarty is a renown for insights on junior mining and precious metals markets, as well as the common sense. This video is a great way to learn about the resource stocks tips, precious metals, how to analyze and exploit market conditions as a contrarian. Bob Moriarty the founder of 321gold.com visits us for an exclusive, one of a kind, interview to discuss a number of topics ranging from the War in Ukraine, Precious Metals (Bullion investments, and select junior mining companies (exploration stocks) that have his attention. If you are easily offended, this may not be for you. Bob Moriarty is a straight shooter that has the guts to say what others are afraid to say. We hope you enjoy!

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Base Metals Energy Junior Mining Precious Metals Silver Bullet Mines

Silver Bullet Mines to Resume Development of Buckeye Silver Mine and Update on PGM

Post author By admin
Post date December 15, 2022

Burlington, Ontario–(Newsfile Corp. – December 15, 2022) – Silver Bullet Mines Corp. (TSXV: SBMI) (OTCQB: SBMCF) (‘SBMI’ or ‘the Company’) is pleased to announce the imminent resumption of development of its Buckeye Silver Mine near Globe, Arizona.

SBMI plans to extract a bulk sample of mineralized material from the area of the Buckeye Silver Mine known as the Treasure Room, described in a press release of March 1, 2022, located in the upper adit of the Buckeye Silver Mine. Prior to accessing the Treasure Room, screening and rock bolting of the adit is required pursuant to MSHA regulations, which the Company estimates should take approximately one week to complete.

Upon completion of the safety measures, SBMI intends to commence work to extract mineralized material, and the Company estimates that it should take two to three weeks to intercept the veins described in the press release of March 1, 2022. Mineralized material from the floor of the Treasure Room has previously been assayed and results previously reported (March 1, 2022). The Company has previously been able to process mineralized material from this source into dore bars. Further mineralized material from this same source, once extracted, will be processed by the Company’s mill.

SBMI also advises that on a recent site visit to the Buckeye Silver Mine and the Black Diamond Property, the Company’s consulting geologists Robert Komarechka and John Corkery examined and re-logged a portion of core drilled by a prior optionee at the Buckeye Silver Mine in 2017 (press release of December 8, 2022), and extracted samples from the core, from the upper adit of the Buckeye Silver Mine, and from other parts of the Black Diamond Property. Blanks and standards were added, and all samples have been sent to a division of Actlabs for analysis for PGMs.

Messrs. Komarechka and Corkery will be providing the Company with a Report including observations, comments, and recommendations and subject to results of assays, plan a site visit to the Buckeye Silver Mine and the Black Diamond Property early in 2023.

For further information, please contact:

John Carter
Silver Bullet Mines Corp., CEO
cartera@sympatico.ca
+1 (905) 302-3843

Peter M. Clausi
Silver Bullet Mines Corp., VP Capital Markets
pclausi@brantcapital.ca
+1 (416) 890-1232

Cautionary and Forward-Looking Statements

Readers should be cautioned that the Company’s decision to move forward with the construction of and production at the Washington Mine and the Buckeye Mine is not based on the results of any pre-feasibility study or feasibility study of mineral resources demonstrating economic or technical viability. The Company has undertaken exploration and development activities; and after taking into consideration various factors, including but not limited to: historical data, the exploration and development results to date, technical information developed internally, the availability of financing, and the starting costs as estimated internally by the Company’s management, the Company is of the view that the establishment of mineral reserves by way of a prefeasibility or feasibility study at this stage is not necessary and would be unduly costly, and that the most responsible utilization of the Company’s resources is to proceed with the development of the mines. Readers are cautioned that due to the lack of prefeasibility study or feasibility study, there is increased uncertainty and higher risk of economic and technical failure associated with the Company’s decision. In particular, there is additional risk that mineral grades may be lower than expected, and the risk that construction or continuing mining operations may be more difficult or more expensive than management expected. Production and economic variables may vary considerably, due to the absence of a detailed economic and technical analysis in accordance with National Instrument 43-101. Failure at the Washington or Buckeye Mine may materially adversely impact the Company’s overall ability to continue as a going concern.

This news release contains certain statements that constitute forward-looking statements as they relate to SBMI and its subsidiaries. Forward-looking statements are not historical facts but represent management’s current expectation of future events, and can be identified by words such as “believe”, “expects”, “will”, “intends”, “plans”, “projects”, “anticipates”, “estimates”, “continues” and similar expressions. Although management believes that the expectations represented in such forward-looking statements are reasonable, there can be no assurance that they will prove to be correct.

By their nature, forward-looking statements include assumptions, and are subject to inherent risks and uncertainties that could cause actual future results, conditions, actions or events to differ materially from those in the forward-looking statements. If and when forward-looking statements are set out in this new release, SBMI will also set out the material risk factors or assumptions used to develop the forward-looking statements. Except as expressly required by applicable securities laws, SBMI assumes no obligation to update or revise any forward-looking statements. The future outcomes that relate to forward-looking statements may be influenced by many factors, including but not limited to: the impact of SARS CoV-2 or any other epidemic or pandemic; reliance on key personnel; the thoroughness of its QA/QA procedures; the continuity of the global supply chain for materials for SBMI to use in the production and processing of mineralized material; shareholder and regulatory approvals; licencing and permitting; activities and attitudes of communities local to the location of the SBMI’s properties; risks of future legal proceedings; income tax matters; fires, floods and other natural phenomena; the rate of inflation; availability and terms of financing; distribution of securities; commodities pricing; currency movements, especially as between the USD and CDN; effect of market interest rates on price of securities; and, potential dilution. SARS CoV-2 and other potential global viruses create risks that at this time are immeasurable and impossible to define.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/148224

Base Metals Energy Junior Mining Rover Metals

Rover Metals Provides Location Map of New Nevada Lithium Project

Post author By admin
Post date December 14, 2022

VANCOUVER, British Columbia, Dec. 14, 2022 (GLOBE NEWSWIRE) — Rover Metals Corp. (TSXV: ROVR) (OTCQB: ROVMF) (FSE:4XO) (“Rover” or the “Company”) is pleased to provide an update on its Let’s Go Lithium (“LGL”) project. The Company has prepared a jurisdictional map of the prolific southwest Nevada lithium jurisdiction. LGL is located within jurisdiction, in the Amargosa Valley of Nevada.

Let’s Go Lithium Location and Regional Geology
LGL is located just seven and half miles (12 km) away from the historic Franklin Wells hectorite (a rare lithium smectite mineral) deposit. Mining at Franklin Wells dates back to the 1920’s. The regional geology of the Amargosa Valley is a basin-and-range structure with the Greenwater Range and Funeral Mountains to the west and the Amargosa Desert to the east. The Greenwater/Funeral mountains are fault-controlled with narrow interior valleys and are bounded by broad, coalescing alluvial fans. The Greenwater/Funeral mountains are composed of lower Paleozoic marine and metamorphic rocks. LGL is located in a large basin of clay rich Tertiary lakebed sediments, the major host rock for the other lithium claystone deposits in the southwest Nevada lithium jurisdiction. Historic water well drill logs spread across the roughly 6,000 acres of the LGL claim package suggest an average thickness of the clay beds of approximately 350 feet (~100 meters).

Jurisdictional Map
https://rovermetals.com/lgllocation

For a more technical disclosure of Rover’s recent exploration work, including a high-grade surface grab sampling program, please reference to our November 21, 2022 release.

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.

Base Metals Collective Mining Energy Junior Mining Precious Metals Uncategorized

Collective Mining Discovers a High-Grade Copper and Molybdenum Porphyry Related Soil Anomaly 150 metres South of the Main Breccia Discovery at Apollo

Post author By admin
Post date December 14, 2022

New assay results from detailed soil geochemistry sampling have outlined a high-grade porphyry anomaly averaging greater than 500 parts per million (“ppm”) copper and 30 ppm molybdenum with highest values up to 1,125 ppm copper and 163 ppm molybdenum.

Located only approximately 150 metres south of the southernmost modelled boundary of the Main Breccia discovery at Apollo, this new high-grade anomaly covers an area measuring 250 metres by 150 metres and remains completely open for expansion to the west, east and south.

Follow-up reconnaissance geological work at surface has identified a potassic altered porphyry diorite hosting quartz, molybdenum, and chalcopyrite veins. Surface rock chip sampling from limited weathered (leached) outcrop has returned grades of up to 0.28% copper and 0.13% molybdenum.
The soil anomaly compares favorably in grade and is slightly larger than the soil anomaly covering the southern portion of the Main Breccia discovery at Apollo where recent assay results from drilling have intercepted the highest copper grades to date including drill hole APC-18 which averaged 168.6 metres at 0.98 g/t gold, 69 g/t silver and 0.5% copper.
Immediate plans are underway to test the porphyry target with the first drill hole expected to begin in early Q1, 2023.

Three rigs continue to drill the Main Breccia at Apollo with holes APC-22 through APC-27 awaiting assay results and holes APC-28 through APC-30 nearing completion ahead of a short break for the seasonal holiday.

Toronto, Ontario, December 14, 2022 – Collective Mining Ltd. (TSXV: CNL) (OTCQX: CNLMF) (“Collective” or the “Company”) is pleased to announce assay results from soil and rock chip sampling undertaken south of the Main Breccia discovery at the Apollo target (“Apollo”) within the Company’s Guayabales project located in Caldas, Colombia. 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 Main Breccia discovery at Apollo is a high-grade, bulk tonnage copper-gold-silver porphyry-related breccia system with previously announced assay results including: 

Hole	Intercept (m)	Au (g/t)	Ag (g/t)	Cu %	Zn %	Pb %	Mo %	AuEq (g/t) *
APC-2	207.15	1.46	45	0.31	0.08	0.05	0.002	2.68
APC-8	265.75	1.26	55	0.22	0.07	0.05	0.045	2.44
APC-12	237.70	1.15	72	0.38	0.08	0.07	0.001	2.88

* See press releases dated August 10^th, September 13^th and October 6^th respectively.  

Executive Chairman, Ari Sussman stated: “The discovery of a high-grade copper and molybdenum soil anomaly associated with a mineralized porphyry body just south of our Main Breccia discovery at Apollo is exciting. As drilling continues to expand the Main Breccia discovery at Apollo, our early-stage exploration team has been focused on prospecting the rest of the Apollo target area to determine if a possible source exists for the copper mineralization found within the breccia discovery. Given the proximity to our Main Breccia discovery, this new high-grade porphyry target suggests we may have found the source. We are eager to test the new target and plan to initiate drilling in January as part of our upcoming 2023 drilling program. We are looking forward to an exciting 2023 as we continue to drive shareholder value through aggressive expansion drilling of the Main Breccia discovery while testing new targets.”

Details (See Figures 1–3)

The Company’s exploration teams have recently undertaken outcrop mapping and soil sampling within the Apollo area with the objective of outlining new targets for drilling. This work has outlined a coherent and well-defined soil anomaly for copper and molybdenum covering dimensions of 250 metres east-west by 150 metres north-south. The anomaly is defined by over 70 soil samples with copper values ranging from 310-1,125pmm and Molybdenum values up to 163ppm. Gold in soil within the anomaly has also returned numerous samples (n=12) ranging from 0.1 to 0.4 g/t. The soil anomaly locates only 150 metres south of the southernmost outcropping portion of the northerly dipping Main Breccia discovery at Apollo as defined by drilling and surface outcrop sampling. The southern copper and molybdenum anomaly is still open at surface to the west, east and to the south.

Reconnaissance geological mapping and rock chip sampling within the anomalous soil area has identified porphyry diorites with secondary biotite alteration hosting porphyry “B” veins with center and border lines of chalcopyrite and molybdenum. Disseminated chalcopyrite was also observed within the limited outcrop exposures with rock chip sampling reporting grades up to 0.28% of copper, 0.13% of molybdenum and 0.8 g/t gold.

The Company is currently organizing and constructing a new drill pad to test the target with diamond drilling in January 2023.

The larger Apollo target area, which includes the Main Breccia discovery and other breccia and porphyry targets, is defined to date by surface mapping, rock sampling and copper and molybdenum soil geochemistry and covers a 1,000 metres X 1,200 metres area. The Apollo target area hosts the Company’s new Main Breccia discovery plus multiple CBM vein systems located within and above and below the mineralized angular breccia. Additional untested breccia discoveries locate to the NE and SE of the main breccia discovery. The newly defined porphyry target, as outlined in this press release, is located 150 metres due south of the southernmost end the Main Breccia discovery and is flanked to the southeast by outcrops hosting a high density of porphyry quartz veins associated with early biotite veins in diorite porphyry. The larger Apollo target area also remains open for further expansion.

Figure 1: Plan View of the New Porphyry Target Soil Anomaly in Relation to the Main Breccia Discovery at Apollo

Figure 2: Detailed View of the Soil Anomaly Covering the New Porphyry Target with Photos and Assay Results for Rock Samples

Figure 3: Plan View of the Guayabales Project Highlighting the Apollo Target Location

About Collective Mining Ltd.

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

Qualified Person (QP) and NI43-101 Disclosure

Technical Information

Contact Information

Collective Mining Ltd. 

Steven Gold, Vice President, Corporate Development and Investor Relations

Tel. (416) 648-4065

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.  

Tags #AriSussman, #CNL, #Guayabales, #InvestingInBatteryMetals, #JuniorMining, #ProvenAndProbable, Apollo Target, best canadian gold stocks, best canadian mining stocks, best gold mining stocks, best gold stocks, best gold stocks to buy, best silver stocks to buy now, Collective Mining

Base Metals Energy Junior Mining Precious Metals Silver Bullet Mines

Silver Bullet Mines Provides Overview of Activities

Post author By admin
Post date December 12, 2022

Burlington, Ontario–(Newsfile Corp. – December 12, 2022) – Silver Bullet Mines Corp. (TSXV: SBMI) (OTCQB: SBMCF) (‘SBMI’ or ‘the Company’) directs readers to the Company’s website to view a summary overview provided by the Company’s CEO of activities during the past several months.

Based on feedback from shareholders as a result of the press release of December 8, 2022, the Company’s CEO has provided an anecdotal summary of the Company’s activities from September 2022 to date.

Readers are directed to the Company’s website www.silverbulletmines.com to view the document.

For further information, please contact:

John Carter
Silver Bullet Mines Corp., CEO
cartera@sympatico.ca
+1 (905) 302-3843

Cautionary and Forward-Looking Statements

By their nature, forward-looking statements include assumptions, and are subject to inherent risks and uncertainties that could cause actual future results, conditions, actions or events to differ materially from those in the forward-looking statements. If and when forward-looking statements are set out in this new release, SBMI will also set out the material risk factors or assumptions used to develop the forward-looking statements. Except as expressly required by applicable securities laws, SBMI assumes no obligation to update or revise any forward-looking statements. The future outcomes that relate to forward-looking statements may be influenced by many factors, including but not limited to: the impact of SARS CoV-2 or any other global virus; reliance on key personnel; the thoroughness of its QA/QA procedures; the continuity of the global supply chain for materials for SBMI to use in the production and processing of ore; shareholder and regulatory approvals; activities and attitudes of communities local to the location of the SBMI’s properties; risks of future legal proceedings; income tax matters; fires, floods and other natural phenomena; the rate of inflation; availability and terms of financing; distribution of securities; commodities pricing; currency movements, especially as between the USD and CDN; effect of market interest rates on price of securities; and, potential dilution. SARS CoV-2 and other potential global viruses create risks that at this time are immeasurable and impossible to define.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/147614

Base Metals Diamcor Mining Energy Exclusive Interviews Junior Mining Precious Metals

A Diamond In The Rough

Post author By admin
Post date December 9, 2022

A profitable quarter and more on the horizon
A strategic joint venture suggests continued success
Rising interest in diamonds- A hard asset
Dubai is a buyer of the unpolished stones
Diamcor Mining (DMIFF) and undervalued OTC stock

A diamond is a solid form of the element carbon, with its atoms arranged in a crystal structure called a diamond cube. Most natural diamonds form over one billion years in the earth’s mantle, between 93 and 155 miles below the surface, and pressure transforms the carbon into stones.

An unpolished diamond is in the stone’s natural state while polishing processes the stone into the jewels that are a “girl’s best friend.” De Beer’s iconic slogan, “A diamond is forever,” dates to 1947 and has become a symbol of love as engagement, wedding, and anniversary jewelry contains the stones. Aside from its use in jewelry, diamonds are critical for industrial cutting and polishing tools. In today’s markets, the case for investing in diamonds has become compelling.

Diamcor Mining Inc (DMIFF) is a Canadian producer with significant ties with the international diamond industry. The company recently reported a profitable quarter, which could lead to a higher stock price over the coming months and years.

A profitable quarter and more on the horizon

Diamcor Mining, Inc. reported third-quarter results showing growth and profits in late October. Operating results improved quarter-over-quarter with the sale of 3,776.33 carats of rough diamonds, up from 3,061.70 in Q2 2022. Third quarter revenue of around $2.1 million was higher than the $557.6 thousand in Q2.

Meanwhile, the company sales averaged $556.08 per carat in Q3 compared with $182.11 in Q2. The jump in the per-carat price came from selling a 59.35-carat gem quality unique rough diamond to a Middle Eastern investor.

Diamcor’s CEO, Dean Taylor, said, “We are very pleased with the continued quarterly growth achieved again for the period ending September 30, 2022, and remain optimistic given the recent announcement of the delivery of 5,833 carats for the first tender and sale of this quarter (Q4 2022).” The Q4 sale is already 54.5% above the carats sold in Q3 and could result in another profitable quarter when Diamcor reports results in early 2023.

A strategic alliance suggests continued success

Anyone with even slight knowledge of the worldwide diamond business knows two names, Tiffany and De Beers. Tiffany is synonymous with diamonds, and De Beers is the South African mining and marketing giant.

Diamcor has established a long-term strategic alliance and the first right of refusal with Tiffany & Co. Canada, a subsidiary of the parent Tiffany & Co. headquartered in New York. The agreement is for Tiffany to purchase up to 100% of the future production of rough diamonds from the Krone-Endora at Venetia Project at the current prices determined by the parties on an ongoing basis. Tiffany provided Diamcor with financing to advance the project. Moet Hennessy Louis Vuitton (LVMH) is a publicly traded company listed on the Paris Stock Exchange (Euronext) which owns Tiffany & Co.

Meanwhile, the Krone-Endora at Venetia Project comprises approximately 5,888 hectares directly adjacent to De Beer’s flagship Venetia Diamond Mine in South Africa. In February 2011, Diamcor acquired the Krone-Endora at Venetia Project from De Beers Consolidated Mines Limited. In September 2014, the South African Department of Mineral Resources granted a Mining Right for the Krone-Endora at Venetia Project for 657.71 hectares of the Projects total area of 5,888 hectares. Diamcor has applied for additional mining rights for the remaining hectares.

Tiffany is a high-end retail leader in diamonds, and De Beers is a wholesale giant. Diamcor has established a joint venture with the retail leader and is a neighbor of a producing leader.

Rising interest in diamonds- A hard asset

Bain & Company is a US management consulting company headquartered in Boston, Massachusetts. The company provides advice to public, private, and non-profit organizations. In Bain’s report on The Global Diamond Industry 2021-2022, the consulting company said, “A brilliant recovery shapes up.” Some of the report’s highlights include:

Revenues recovered across the diamond supply chain in 2021, exceeding pre-pandemic levels.
Profit margins in every segment recovered, including in mining and retail sales.
Rough diamond sales rebounded by over 60% in 2021, surpassing pre-pandemic levels.
Rough and polished diamond prices reached the historical average in 2021 but lagged industry peaks.
Prices for higher-quality polished diamonds outperformed lower-quality diamonds.
In 2020, rough diamond production declined, falling to 111 million carats. In 2021, output grew to 116 million carats, still 20% below the level in 2019.
Rough diamond sales grew by 62% in 2021. Strong demand from cutters and polishers caused miners to increase production volumes and release diamonds from inventories.

While diamond prices have come down since April 2022, they have remained at the highest since April 2012.

Source: Diamondse.info

The index does not differentiate between the qualities of diamonds, but it presents an overall picture of price trends in the sector.

The following factors have increased interest in diamonds as an investment or keepsake over the past months:

The leading stock market indices have declined in 2022, leading investors to seek other asset sectors.
Inflation has been at its highest level since the early 1980s. Diamonds are a hard asset with a long history as a store of value.
While the US dollar has appreciated against other world currencies, faith in fiat foreign exchange instruments has declined.
Russia is, by far, the world’s leading producer of diamonds. The war in Ukraine, sanctions on Russia and Moscow’s retaliation against “unfriendly” countries supporting Ukraine have increased supply concerns, improving the outlook for diamond prices.
Companies like the Diamond Standard Fund are tokenizing, managing, storing, securing diamonds for investors, and have IRA-eligible investment programs.

Markets across all asset classes reflect the geopolitical and economic landscapes. In late 2022, the events and trends continue to favor higher diamond prices, even though they are sitting at the highest price level in a decade.

The Middle East is a buyer of the unpolished stones

In 2021, the countries that imported the most diamonds were:

Source: Worldsstopexports.com

These fifteen countries imported 96.5% of all diamonds in 2021. The United Arab Emirates was the fifth leading diamond-importing country, and the UAE imported more diamonds than the world’s second-leading economy, China. Diamcor’s recent sale of a 59.35-carat unpolished diamond was to a buyer in Dubai.

The rise in crude oil prices has filled the coffers of Middle Eastern producers with cash. With crude oil prices at the highest level in years, revenues continue to flow to the oil-rich area, providing the funds for diamond and other hard asset purchases.

Diamcor Mining (DMIFF), an undervalued OTC stock

At 15.24 cents per share on November 18, Diamcor Mining shares on the over-the-counter market reflect a $17.711 market cap. An average of 86,040 shares trades daily.

Source: Barchart

The chart highlights DMIFF shares reached a low of 4.60 cents in December 2020 and a high of 43.0 cents in October 2021. In 2022, the shares traded between 10.76 and 29.81 cents. At 15.24 cents, DMIFF shares were below the midpoint of this year’s trading range on November 18.

While DMIFF is a penny stock with associated risks, the following factors favor a rise in the share price over the coming months:

Diamcor is profitable and its production, and revenues are growing.
The interest in the diamond market is robust as investors look for hard assets to combat the highest inflationary pressures in decades.
The war in Ukraine continues to cause supply concerns for the international diamond market.
The strategic alliance with Tiffany & Co. and mining assets next to De Beers increase Diamcor’s odds of future success.
Mining companies have not had a positive beta with the overall stock market. Oil, metals, and other mining companies have outperformed the stock market in 2022, a trend that will likely continue.

At 15.24 cents per share, DMIFF could be a diamond in the rough as the company’s recent Q2 report justifies a higher share price.

Written By: Andrew Hecht, on behalf of Maurice Jackson of Proven and Probable.

Any investment involves substantial risks, including, but not limited to, pricing volatility, inadequate liquidity, and the potential complete loss of principal. This document does not in any way constitute an offer or solicitation of an offer to buy or sell any investment, security, or commodity discussed herein, or any security in any jurisdiction in which such an offer would be unlawful under the securities laws of such jurisdiction.

Tags #DiamcorMining, #DMI, #JuniorMining, #MauriceJackson, #ProvenAndProbable, Andrew Hecht, Andy Hecht

Energy Junior Mining Silver Bullet Mines

Silver Bullet Mines Provides Update on Idaho and Arizona Mines

Post author By admin
Post date December 8, 2022

Burlington, Ontario–(Newsfile Corp. – December 8, 2022) – Silver Bullet Mines Corp. (TSXV: SBMI) (OTCQB: SBMCF) (‘SBMI’ or ‘the Company’) is pleased to provide an update on operations at its Washington Mine in Idaho and at its Buckeye Mine in Arizona.

In Arizona at the Buckeye, core drilled by a prior optionee at the Buckeye Mine in 2017 has been located and a chain of custody established. The core is being re-logged. There is no record of any of it having been tested for platinum group elements. It is intended that some of such core will be split and sent to an accredited third-party lab for testing, and the remainder will be stored after it is logged.

Historical third party core from 2017

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/8464/147242_4d324f7fe489cace_001full.jpg

Historical core being split in December, 2022

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/8464/147242_4d324f7fe489cace_002full.jpg

In Idaho, the entrance to the historical past-producing gold and silver mine has been screened and rock bolted. In management’s opinion the entrance to the historical mine is secure. Efforts continue to ensure the access area past the entrance is safe to enable the field team and contract miner to advance towards what is believed to be the mineralized zone. A mining engineer has created a mine plan and a ventilation plan which will be implemented once the area is secure. The Company believes it has the necessary equipment to proceed, including a recently acquired mucker. If timber is required, SBMI has the timber rights at surface at the Washington Mine and can harvest the timber as needed.

The mining plan at the Washington Mine is subject to evolution as new facts are encountered on surface, underground and in the supply chain. The current plan is to mine around the caved area, develop a raise in the mineralized material up to surface, and to work through the winter as possible. This requires SBMI to acquire an explosive licence, for which it is applying.

Winter weather in Idaho is an uncontrollable risk, but mitigated at the Washington Mine due to the mine’s proximity to a highway.

For further information, please contact:

John Carter
Silver Bullet Mines Corp., CEO
cartera@sympatico.ca
+1 (905) 302-3843

Peter M. Clausi
Silver Bullet Mines Corp., VP Capital Markets
pclausi@brantcapital.ca
+1 (416) 890-1232

Cautionary and Forward-Looking Statements

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/147242

Tags #BuckeyeMine, #SBMI, #WashingtonMine, John Carter, Silver Bullet Mines

Base Metals Collective Mining 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

Post author By admin
Post date December 7, 2022

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-19	199.20	497.80	298.60	0.48	34	0.31	0.002	–	–	1.54	0.79
Incl.	199.20	323.50	124.30	0.62	64	0.63	0.002	–	–	2.72	1.39
APC-20**	298.20	400.40	102.20	2.72	28	0.08	0.001	0.21	0.15	3.38	–
Incl.	324.25	357.85	33.60	6.30	45	0.08	0.001	0.42	0.33	7.30	–
APC-21				No 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 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 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

Qualified Person (QP) and NI43-101 Disclosure

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SOURCE Collective Mining Ltd.

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

Tags #AriSussman, #CNL, #CollectiveMining, #Guayabales, #InvestingInBatteryMetals, #InvestingInCopper, #JuniorMining, #MauriceJackson, #MilesFranklin, #PreciousMetals, #ProvenAndProbable, Apollo Target, maurice jackson, proven and probable

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Category: Energy

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