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Collective Metals Mobilizes Field Crew to Princeton Project in Southeastern British Columbia
VANCOUVER, British Columbia, June 01, 2023 (GLOBE NEWSWIRE) -- COLLECTIVE METALS INC. (CSE: COMT | FSE: TO1) (the “Company” or “Collective”), is pleased to anno
About this update from Collective Metals Inc
[{"type":"text","content":" VANCOUVER, British Columbia, June 01, 2023 (GLOBE NEWSWIRE) -- COLLECTIVE METALS INC. (CSE: COMT | FSE: TO1) (the “Company” or “Collective”), is pleased to announce the mobilization of its field crew to commence exploration activities at the Princeton Project (the “Project”). Initial exploration will consist of initial orientation on the property, comprising 70,570 acres west to southwest of Princeton (see Fig. 1). The field crew will make an initial evaluation of each of the high-priority target areas previously identified on the property, undertaking mapping and additional due diligence sampling to identify and confirm alteration and/or mineralization. An initial evaluation will be conducted of the existing logging road network that is available to access the property, which will be used to plan subsequent work programs. The initial field work will take approximately two weeks to conduct current objectives. Christopher Huggins, Chief Executive Officer of Collective, commented, “With the potential the Princeton Project presents, the team is excited to get the 2023 exploration program underway, as we believe the Project presents a significant opportunity for the Company and its stakeholders. We expect to follow-up the initial field visit with additional exploration activities this summer.” Neighbouring Geological Similarities These target areas are also spatially associated with a large high intensity magnetic anomaly (see Fig. 2). This large magnetic feature is separated from a similar magnetic anomaly spatially associated with the Copper Mountain Intrusive Complex, which hosts the Copper Mountain mine, owned and operated by the Copper Mountain Mining Corporation, which hosts a Proven and Probable Mineral Reserve of 702 Mt of 0.24% Copper, across the Boundary Fault. A previous operator interpreted the Project area to be similar to that of the Copper Mountain Intrusive Complex, but representing a different level of exposure. At Copper Mountain, erosion has exposed alteration and mineralization at the surface, which drove subsequent development into the current mining operation. In contrast, the level of erosion in the Project area has been less extensive, resulting in the exposure of relatively numerous, yet comparatively small, high-level diorite intrusions in the uppermost portions of the intrusive complex proposed for the Pr...