Collective Mining Reports Robust Metallurgical Recovery Rates at Apollo: 95% Gold, 92% Silver, 85% Copper and 70% Tungsten; Initial Mineral Resource Estimate Targeted for September 2026
Collective accelerates its maiden resource estimate to September following high-grade metallurgical validation at its project.
Collective Mining Ltd. (CNL) reported robust metallurgical recovery rates from the Apollo system at Guayabales, achieving 95% gold, 92% silver, 85% copper, and 70% tungsten recovery using conventional processing methods. Preliminary testing on the high-grade Ramp Zone at depth showed even stronger results, with up to 96% gold recovery, with comprehensive results expected in H1-2027.
The company accelerated its internal timeline and now expects to release its maiden mineral resource estimate (MRE) for Apollo in September 2026. Copper recovery correlates positively with grade, with samples >0.15% Cu returning recovery rates ≥90%.
Testing utilized >130 individual drill core samples across 36 intervals, conducted by ALS in Kamloops, BC, using locked cycle testing on a master composite.
Collective Mining Ltd. (CNL) announced that metallurgical results confirm the high-grade polymetallic mineralization at Apollo is amenable to standard, low-cost processing techniques, significantly de-risking the technical feasibility of a future mine. The company also accelerated the maiden Mineral Resource Estimate (MRE) to September 2026, a schedule update that brings the company closer to a bankable resource definition.
This news is incremental to the extensive drilling program already underway and aligns with management's prior guidance regarding metallurgical test work timelines. The market has already priced in the high-grade nature of the Apollo system through previous drill results. While the announcement does not alter the fundamental exploration-stage status or the immediate cash burn profile, it provides a clear, near-term catalyst that supports continued investor interest.
Collective Mining Ltd. is an exploration-stage mining company focused on the Guayabales and San Antonio projects in the Caldas Department of Colombia. The company’s flagship Apollo system is a large, partially reduced intrusion-related polymetallic deposit enriched in gold, silver, copper, and tungsten. It has been extensively drilled, with over 120,000 metres completed to date. The project benefits from proximity to the Pan-American Highway, hydroelectric power lines, and an established mining labor pool.
The company also holds an option to earn up to 100% interest in the San Antonio project, which hosts the high-grade silver-rich Pound target and a newly discovered gold-copper porphyry system. Management has a strong track record, with executives from Continental Gold, Kinross, GT Gold, and Glencore, providing credibility in project execution and capital markets.