Collective Mining Ltd. has launched a drilling program at its San Antonio Project in Colombia, targeting gold-copper porphyry systems with a minimum of 2,500 meters. The initiative follows promising mineralization results from prior drilling. The company operates five drill rigs and anticipates the arrival of two more soon, aiming to enhance its exploration of the area.
Collective Mining Ltd. (NYSE: CNL, TSX: CNL) has begun a drilling program at its San Antonio Project located in Caldas, Colombia, aiming to drill at least 2,500 meters to evaluate three gold-copper porphyry targets within a mineralized corridor measuring 2.5 kilometers. The company is currently operating five drill rigs and plans to expand with two additional rigs set to commence operations in January and February respectively.
In 2021, initial drilling efforts at the Pound target revealed promising mineralization, with drill holes SAC-08 and SAC-06 showing over 700 meters of intercept from the surface. Recent geological mapping and sampling have increased the surface area of the altered system to 650 by 550 meters. Collective Mining posits that previous drilling may have intersected the pyrite halo of a copper-gold porphyry system, suggesting stronger mineralization could be in proximity.
New soil anomalies have been detected at the Real and Euro targets, which cover surface areas of 400 by 250 meters each. The Real target is positioned 400 meters northwest of Pound, showcasing numerous mineralized porphyry clasts within breccia bodies, while the Euro target, located one kilometer south of Pound, demonstrates coherent soil anomalies indicating the potential for a porphyry system associated with gold, copper, and molybdenum.
Collective Mining has options to fully acquire 100% stakes in two projects situated in Caldas, Colombia, which include the San Antonio Project and the Guayabales Project, home to the Apollo system. The company is publicly traded on both the NYSE and TSX under the symbol “CNL.”
Collective Mining is a mineral exploration and development company focused on uncovering high-value projects in Colombia, particularly in gold-copper porphyry systems. The San Antonio Project represents a significant opportunity for mineral extraction, supported by initial drilling that indicates substantial mineralization. The company’s broader exploration strategy includes utilizing advanced drilling techniques and geological analysis to map potential deposits and expand mineral resources, ultimately enhancing its holdings in South America.
In summary, Collective Mining has initiated an extensive drilling campaign at the San Antonio Project to explore identified gold-copper porphyry targets. The preliminary results from past drilling and geological surveys indicate a robust mineralization potential, warranting further exploration. As the company expands its drilling operations with additional rigs, there is optimistic potential for major discoveries that could impact its portfolio significantly.
Original Source: www.financecolombia.com
