Collective Mining Discovers a New Tungsten Enriched High-Grade Subzone 300 Meters Below Surface at Apollo by Drilling 27.35 m at 37.55 g/t AuEq (1.68% WO3, 11.62 g/t Au, 54 g/t Ag, 0.43% Cu)
Collective Mining reports high-grade tungsten intersections at depth, though the company has not yet defined a resource estimate for the deposit.
Collective Mining Ltd. (CNL) has released assay results from its 2026 drill program at the Guayabales and San Antonio projects. At the Apollo zone, hole APC-162 intersected 27.35 m @ 37.55 g/t AuEq (including 1.68% WO₃, 11.62 g/t Au, 54 g/t Ag, 0.43% Cu) starting 300 m below surface. This intersection defines a new tungsten-enriched high-grade subzone distinct from the near-surface tungsten zone. The hole served as a planned up-dip test of a subzone previously identified in APC107-D5 (28.45 m @ 0.80% WO₃). The new zone remains open down-dip.
Other holes extended the Apollo breccia (APC160-D1) and intersected lower-grade halo mineralization (APC-167D, APC-162). At San Antonio’s Dollar target, holes SAC-36 and SAC-39 returned modest intervals, while two other holes were barren.
- SAC-36: 0.9 m @ 962 g/t Ag and 2.0 m @ 14.15 g/t Au
- SAC-39: 29.2 m @ 1.28 g/t Au
The company holds US$113.3 million in cash and has 13 active rigs, with up to 100,000 m planned for 2026.
Collective Mining Ltd. (CNL) reported a high-grade intercept that adds a deeper tungsten zone, representing an extension of a previously reported subzone rather than a new discovery. The results align with routine follow-up drilling designed to expand known mineralization.
The Apollo system’s grade and scale have been repeatedly confirmed over the past year, and the stock has already discounted much of that potential. No maiden resource estimate or economic study is yet available.
The company holds a US$113.3 million cash position. However, ongoing cash burn from land payments and drilling, combined with the lack of a resource milestone, keeps the project in the “show-me” category.
Collective Mining Ltd. (CNL) is an exploration-stage company focused on the Guayabales and San Antonio projects in Caldas, Colombia. Its flagship asset is the Apollo system within Guayabales, a large, polymetallic (Au-Ag-Cu-WO₃) reduced-intrusion-related deposit. The company has drilled over 184,000 m across both projects, with 120,000 m at Apollo alone. Mineralization is confirmed from surface to depths exceeding 1,400 m.
Other targets include the Ramp Zone, which hosts high-grade gold at depth; the Trap, a sheeted-vein porphyry; and San Antonio, which features silver-rich veins and porphyry copper-gold. No mineral resource estimate has been published, with a maiden estimate targeted for mid-2027. Management has a track record of developing and selling Continental Gold’s Buriticá mine, which was acquired by Zijin for C$2B.