Collective Mining Expands Apollo to the Southwest and Extends High-Grade Sub Zones to Depths of Over 1,000 Metres Including 39.95 Metres at 4.42 g/t Gold Equivalent
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Highlights (see Table 1 and Figures 1-4)
- Holes APC99-D4 and APC99-D2 were drilled to the southwest from Pad 16 and extend the in-house block model and confirmed high-grade sub zones at depth with assay results as follows:
- 401.80 metres @ 1.06 g/t gold equivalent from 369.00 metres (APC99-D4) including:
- 26.55 metres @ 3.01 g/t gold equivalent from 374.00 metres in a CBM zone
- 18.95 metres @ 2.43 g/t gold equivalent from 416.95 metres in a CBM zone
- 35.55 metres @ 2.03 g/t gold equivalent from 567.25 metres in a CBM zone
- 38.25 metres @ 2.44 g/t gold equivalent from 732.55 metres in the SW extension zone and drillhole ended in mineralization
- 258.30 metres @ 1.56 g/t gold equivalent from 253.40 metres (APC99-D2) including:
- 23.50 metres @ 2.51 g/t gold equivalent from 253.40 metres in a CBM zone
- 39.95 metres @ 4.42 g/t gold equivalent from 362.20 metres in a CBM zone
- 17.25 metres @ 2.03 g/t gold equivalent from 445.50 metres in a CBM zone
- 23.30 metres @ 1.20 g/t gold equivalent from 623.50 metres in the SW extension zone
- 401.80 metres @ 1.06 g/t gold equivalent from 369.00 metres (APC99-D4) including:
- Drillhole APC99-D3 was drilled to the southeast and tested both the hanging wall and footwall boundaries of the Apollo system wireframe with assays results as follows:
- 158.45 metres @ 0.95 g/t gold equivalent from 289.95 metres including:
- 19.05 metres @ 2.12 g/t gold equivalent from 289.95 metres in a CBM zone
- 23.35 metres @ 2.18 g/t gold equivalent from 387.25 metres in a CBM zone
- 158.45 metres @ 0.95 g/t gold equivalent from 289.95 metres including:
- Drillhole APC99-D1 was drilled to the south from Pad 16 but was abandoned prior to reaching target depth due to a technical challenge with the rig.
- Two drill rigs are operating at Apollo with one rig expanding laterally and vertically the western portion of the system and the other rig about to commence drilling a potentially large 600 metres step-out hole to the north.
Table 1: Assays Results for Drill Holes APC-99D, APC99-D1, APC99-D2, APC99-D3 and APC99-D4
Hole # |
From (m) |
To (m) |
Length (m) |
Au g/t |
Ag g/t |
Cu % |
Zn % |
AuEq g/t* |
APC-99D |
90.25 |
90.90 |
0.65 |
22.00 |
163 |
0.02 |
1.00 |
23.31 |
and |
120.75 |
125.65 |
4.90 |
0.64 |
27 |
0.01 |
0.07 |
0.96 |
and |
311.80 |
317.10 |
5.30 |
1.05 |
4 |
- |
0.01 |
1.08 |
APC99-D1 |
NSV. Drillhole lost before reaching target depth |
|
||||||
APC99-D2 |
201.50 |
203.05 |
1.55 |
2.01 |
72 |
0.09 |
1.08 |
2.92 |
and |
253.40 |
511.70 |
258.30 |
1.40 |
12 |
0.03 |
0.13 |
1.56 |
Incl. |
253.40 |
276.90 |
23.50 |
2.32 |
15 |
0.05 |
0.09 |
2.51 |
& incl |
362.20 |
402.15 |
39.95 |
4.12 |
28 |
0.06 |
0.36 |
4.42 |
& incl |
445.50 |
462.75 |
17.25 |
1.79 |
20 |
0.02 |
0.37 |
2.03 |
and |
623.50 |
646.80 |
23.30 |
1.17 |
2 |
0.02 |
0.02 |
1.20 |
APC099-D3 |
236.85 |
246.10 |
9.25 |
2.17 |
12 |
0.04 |
0.01 |
2.30 |
and |
289.95 |
448.40 |
158.45 |
0.81 |
9 |
0.03 |
0.05 |
0.95 |
Incl. |
289.95 |
309.00 |
19.05 |
1.84 |
23 |
0.05 |
0.23 |
2.12 |
& incl |
387.25 |
410.60 |
23.35 |
2.08 |
9 |
0.04 |
0.03 |
2.18 |
APC99-D4 |
134.55 |
136.50 |
1.95 |
1.44 |
35 |
0.01 |
0.23 |
1.93 |
and |
255.25 |
257.30 |
2.05 |
2.90 |
5 |
0.09 |
0.01 |
3.00 |
and |
270.30 |
274.50 |
4.20 |
1.53 |
5 |
- |
0.17 |
1.61 |
and |
369.00 |
770.80 |
401.80 |
0.90 |
8 |
0.03 |
0.14 |
1.06 |
Incl. |
374.00 |
400.55 |
26.55 |
2.43 |
31 |
0.07 |
0.48 |
3.01 |
& incl |
416.95 |
435.90 |
18.95 |
2.01 |
23 |
0.06 |
0.33 |
2.43 |
& incl |
567.25 |
602.80 |
35.55 |
1.72 |
12 |
0.03 |
0.43 |
2.03 |
& incl |
732.55 |
770.80 |
38.25 |
2.37 |
6 |
0.02 |
0.12 |
2.44 |
*AuEq (g/t) is calculated as follows: (Au (g/t) x 0.97) + (Ag (g/t) x 0.014 x 0.88) + (Cu (%) x 1.47 x 0.90) + (Zn (%) x 0.46 x 0.85) utilizing metal prices of Ag – |
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Founded by the team that developed and sold
The Company's flagship project, Guayabales, is anchored by the Apollo system, which hosts the large-scale, bulk-tonnage and high-grade copper-silver-gold-tungsten Apollo porphyry system. The Company's 2024 objective is to expand the Apollo system, step out along strike to expand the recently discovered Trap system and make a new discovery at either the Tower, X or Plutus targets.
Management, insiders, a strategic investor and close family and friends own nearly 50% of the outstanding shares of the Company and as a result, are fully aligned with shareholders. The Company is listed on the NYSE under the trading symbol "CNL", on the TSX under the trading symbol "CNL", on the FSE under the trading symbol "GG1".
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.
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