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    CNL   CA19425C1005

COLLECTIVE MINING LTD.

(CNL)
Delayed Bourse de Toronto  -  05/18 01:56:07 pm EDT
3.200 CAD    0.00%
05/19Collective Mining to Participate in Upcoming Conferences and Announces Launch of New Website
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05/18Collective Mining To Participate in Upcoming Conferences and Announces Launch of New Website
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05/18Collective Mining To Participate in Upcoming Conferences and Announces Launch of New Website
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Collective Mining Samples Up to 485 G/T Gold and 1,919 G/T Silver At the Olympus Target and Commences Drilling

12/01/2021 | 07:49am EDT

Collective Mining Ltd. announced high-grade gold and silver grab sample results from it's grassroot generated Olympus target ("Olympus") within the Guayabales project ("Guayabales"), Colombia. Additionally, the Company announced that the initial drill hole to test Olympus is now underway. The Company presently has two diamond drill rigs operating at Guayabales as part of its maiden 10,000 metre drill program with a third rig to be added in December 2021. Rock chip assay results of grab samples taken from veins located within historical, shallow underground adits on the eastern side of Olympus have confirmed the presence of a significant carbonate base metal ("CBM") system with results as follows: Olympus covers a significant area measuring 1,000 metres north-south by 600 metres east- west and remains open for further expansion. A recently completed, hi-resolution, induced polarization ("IP") survey has outlined multiple chargeability anomalies from surface to depths of up to 800 metres which are interpreted by the Company to relate to disseminated and vein sulphide systems associated with a large porphyry body. Diamond drilling has commenced at the first pad and will drill test below the high-grade grab sample areas and the IP chargeability anomalies. A second rig is anticipated to arrive at site shortly and will commence drilling in December 2021. An additional series of assay results for rock chip grab samples taken from the western portion of Olympus are expected in the near term. The outstanding grab samples are visually similar to the samples for which assay results are reported herein within abundant sulphide mineralization observed. The Olympus target is an area with numerous, small and historical artisanal workings exposing vein, porphyry veinlet and breccia style, gold and silver mineralisation within shallow, underground adit excavations trending NW-SE and E-W. Access for this old, small scale, artisanal mining is facilitated from a north-easterly trending valley floor surrounded by hills with a +200 metre elevation differential. The Collective mining team has to date undertaken reconnaissance mapping and sampling on adits located on the eastern side of the valley. High-grade gold and silver mineralization is related to multiple sulphide and quartz carbonate veinlets and veins hosting massive pyrite with associated sphalerite and galena over widths of 10 to 100 cm. Available exposures of vein material are limited due to extensive timber support in these narrow, historical tunnels. Structural measurements of available vein exposures indicate vein strikes of 320 - 340 azimuth with dips of 60-70 degrees to the NE. Veins are associated with intense sericite alteration. The high-grade, grab sample results presented in this press release are all located within two specific areas of local, artisanal underground workings which will be drill tested from the current Olympus drill pad with various angled holes.


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Financials (USD)
Sales
Net income
Net Debt
P/E ratio
Yield
Capitalization 118 M 119 M -
EV / Sales -1
EV / Sales 0
Nbr of Employees 47
Free-Float 76,5%
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Managers and Directors
Omar Ossma President & Chief Executive Officer
Paul P. Begin Chief Financial Officer
Ari B. Sussman Executive Chairman
María Constanza García Botero Director
Kenneth G. Thomas Director
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