Business
Collective Mining Reports Encouraging Channel Sampling Results from Northern Corridor of Plutus Porphyry Target
Channel sampling of limited oxidized and weathered outcrop exposures in the northern corridor of the Plutus porphyry target have returned encouraging assay resu
About this update from Collective Mining Ltd
[{"type":"text","content":" Channel sampling of limited oxidized and weathered outcrop exposures in the northern corridor of the Plutus porphyry target have returned encouraging assay results including: 10.25 metres @ 2.81 g/t gold,13 g/t silver and 186 ppm copper 23.71 metres @ 1.22 g/t gold, 16 g/t silver and 198 ppm copper The Plutus northern corridor, which is part of the greater Plutus porphyry target area, measures 600 metres along strike (open) by 250 metres wide and hosts mineralized porphyry outcrops which include breccia and quartz vein stockwork. The initial drill pad at the Plutus northern corridor (PPad1) is now complete and drilling is expected to commence in the coming days. Additional drill pads are being constructed throughout the entire Plutus target area in order to drill a series of holes from multiple pads. Four rigs are now operating at the Guayabales project with eleven holes completed at the Apollo porphyry system which are currently in the lab for analysis. Additional assay results are expected in the near term. Ari Sussman, Executive Chairman commented: \"The sheer scale of exploration occurring at the Guayabales project is impressive and I would like to commend our team for their efforts. Plutus is clearly a distinct second porphyry center with many similarities to the Apollo porphyry system, including multiple stages of potentially overprinting styles of mineralization hosted in breccia and porphyry rocks. We are excited to begin drilling Plutus for the first time and look forward to providing updates as we receive addition analytical results.\" TORONTO, Aug. 8, 2023 /CNW/ - Collective Mining Ltd. (TSXV: CNL) (OTCQX: CNLMF) (\"Collective\" or the \"Company\") is pleased to announce assay results and field observations from recent reconnaissance exploration work undertaken in the northern corridor of the Plutus porphyry target. Plutus is located between 500 metres and 1,500 metres to the east of the Apollo porphyry system and 1,500 metres to the north of the Marmato mine. The Plutus porphyry target (\"Plutus\") measures approximately 1,000 metres by 720 metres, remains open for expansion and has been outlined by a coincidental magnetic high with copper and molybdenum in soil anomalies measuring greater than 300 ppm and 20 ppm respectively. The Plutus northern corridor, which is situated within the northe...