Collective Mining Samples Guayabales Project in Colombia
Collective Mining Ltd has provided an exploration update on its Guayabales Project located in Caldas in Colombia. The project is situated contiguous, immediately along strike and to the northwest of Aris Gold’s Marmato gold mine, which contains proven and probable reserves of 2.0 million ounces gold and 4.35 million ounces silver (19.7 Mt grading 3.2 g/t gold and 6.9 g/t silver). The Company interprets the abundant precious metal mineralization encountered throughout the Guayabales Project to be related to a series of copper-gold porphyry intrusions hosted within the project tenements which could be partially responsible for the mineral endowment of the Marmato gold mine.
The Company’s initial channel sampling campaign at the Donut target within the Guayabales Project has returned high-grade gold and silver assay results from a shallow underground tunnel. Mapping of this tunnel has exposed a gold-copper porphyry stockwork of veinlets with overprinting polymetallic vein systems. Additionally, the mineralized zone outlined by channel sampling results announced herein displays excellent grade continuity with results as follows:
Further channel sampling is in progress to cover all areas of the underground workings and the target remains open to the north, north-west, east and at depth. The Company is planning to drill test the Donut target beginning in late August 2021.
The Donut target is located in the south-east portion of a major north-west trending structural corridor hosting a cluster of mineralized outcropping copper-gold-molybdenum porphyry intrusions. Shallow underground workings have exposed large zones of porphyry veining hosting various copper sulfides including chalcopyrite, chalcocite and lesser bornite associated with occasional molybdenite and abundant pyrite. This zone extends for over one kilometre to the Olympus target where gold-silver (base-metal) vein systems are extensive.