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Collective Mining Reports High Recovery Rates for Gold at Apollo Averaging 94.3% From New Variability Metallurgical Test Work
TORONTO, Oct. 3, 2024 /CNW/ - Collective Mining Ltd. (NYSE: CNL) (TSX: CNL) ("Collective" or the "Company") is pleased to announce results from recent cyanidati
About this update from Collective Mining Ltd
[{"type":"text","content":" TORONTO, Oct. 3, 2024 /CNW/ - Collective Mining Ltd. (NYSE: CNL) (TSX: CNL) (\"Collective\" or the \"Company\") is pleased to announce results from recent cyanidation tests conducted on representative samples from both shallow and deeper areas of its Apollo system (\"Apollo\") at the Guayabales Project in Caldas, Colombia. The test results have yielded an average gold dissolution of 94.3% from seven new variability samples and confirm and corroborate previously announced cyanidation gold recoveries (see press release dated October 17, 2023). Furthermore, optimization test work on a flotation concentrate returned substantial improvements in recoveries for gold and silver over those previously reported on April 11, 2024. As a reminder, based on previous work completed, the Company envisions a conventional split circuit for processing material from Apollo with the copper rich stream (more than 0.15% copper) being treated through a flotation circuit and the copper poor stream (less than 0.15% copper) being treated through a precious metal focused cyanidation circuit to produce doré. The Company also now expects that a gravity circuit will be included after flotation for recovery of the high-grade tungsten mineralization. The Company has five diamond drill rigs in operation as part of its fully funded 40,000 metres drill program for 2024, with two rigs drilling at Apollo, two rigs drilling at the Trap system and one rig drilling at the Plutus Target. Ari Sussman, Executive Chairman commented: \"The comprehensive metallurgical test work completed on Apollo confirms the simple nature of achieving high recovery rates of valuable metals from the system using conventional technologies.\" Details Table 1: New Cyanidation Bottle Roll Leaching Variability Test Work Results Seven variability samples with representative copper poor sulfide mineralization distributed across the Apollo system: Variability Sample Head Grade Dissolution Au, g/t Ag, g/t %Cu Gold % Silver % BAM002 1.28 6.77 0.03 95.7 62.1 BAM003 1.22 43.19 0.12 92.9 73.8 BAM004 1.52 5.76 0.02 94.2 67.4 BAM005 0.39 6.44 0.02 95.0 54.4 BAM006 1.12 11.27 0.04 90.5 69.3 BAM007 0.39 3.96 0.01 95.0 61.7 BAM008 1.10 4.72 0.01 96.8 57.4 Average 1.00 11.73 0.03 94.3 63.7 New cyanidation variability tests undertaken in SGS Lima, Peru returned average gold and silver recoveries of 94.3% and 6...