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Collective Mining to Commence Drilling at the Trap Target to Test a New 850-Meter Extension to Sheeted Vein System Corridor and a New Large Gold-Copper Porphyry Anomaly
The Colombian National Mining Agency ("ANM') has granted the Company a key exploration title covering the northwestern trending extension of the sheeted vein
About this update from Collective Mining Ltd
[{"type":"text","content":" The Colombian National Mining Agency (\"ANM') has granted the Company a key exploration title covering the northwestern trending extension of the sheeted vein system and a newly generated large porphyry target The large Trap target area has been further consolidated with the acquisition on a 100% basis of a key outstanding tenement Drilling with two diamond rigs anticipated to commence in May MIAMI, April 23, 2026 /CNW/ - Collective Mining Ltd. (NYSE: CNL) (TSX: CNL) (\"Collective\" or the \"Company\") is pleased to announce that drilling at the Trap target will begin in May following the granting by the ANM of a key title and the acquisition of a key outstanding tenement to fully consolidate the target area. The Trap Target (\"Trap\") is located approximately 3.5 kilometers to the northeast of the flagship Apollo system within the Company's Guayabales Project in Caldas, Colombia. Ari Sussman, Executive Chairman commented: \"We are excited to finally resume exploration drilling at Trap after a pause while we awaited the granting of the title by the ANM covering the northern extension of the system. The Trap target possesses all the characteristics of a classic porphyry system with a large magnetic high coinciding with outcropping samples yielding porphyry style veining, potassic alteration and robust gold-copper grades. The porphyry target is flanked by porphyry-related carbonate base metal sheeted veinlet systems, located within a 2+ kilometer corridor. We have been patiently waiting for this day to arrive and now look forward to seeing the results from this program in the coming months.\" Details (See Figures 1-3) The focus of the exploration drilling campaign at Trap will be to test northwest continuity of the high-grade sheeted vein system, where prior drilling by the Company has outlined a continuous 1,400-meter vein corridor which remains open in all directions. Additionally, the campaign will test the broader Trap target area, where recent reinterpretation of nearby drill holes, new surface geochemical data, outcrop samples and magnetic susceptibility point to strong potential for a gold-copper rich porphyry deposit to be discovered. Tenement Acquisition Total consideration for the tenement acquired by the Company from an arms-length third party entity is US$3.5 million to be satisfied in ...