Collective Mining (TSX: CNL)

Reported assay results for four holes drilled at the Trap Target, which is part of the Guayabales project located in Caldas, Colombia.

The Company has just added a fifth diamond drill rig as part of its 40,000-metre program for 2024 with drilling currently taking place at the Trap, Apollo, Olympus and Box targets.

Collective MIning

Collective Mining	TSX.V
Stage	Exploration
Metals	Gold, Silver, Copper, Tungsten
Market cap	C$290m @ C$4.39
Location	Colombia

Collective Mining Intercepts 632.25 Metres at 1.10 g/t Gold Equivalent in a 200 Metre Step-Out Hole to the South at Trap

Toronto, Ontario, April 24, 2024 – Collective Mining Ltd. (TSX: CNL, OTCQX: CNLMF, FSE: GG1) (“Collective” or the “Company”) is pleased to report assay results for four holes drilled at the Trap Target (“Trap”), which is part of the Guayabales project located in Caldas, Colombia. The Company has just added a fifth diamond drill rig as part of its 40,000-metre drill program for 2024 with drilling currently taking place at the Trap, Apollo, Olympus and Box (two rigs) targets respectively.

The assay results reported herein from Trap are from the initial follow-up drilling to the original discovery holes announced on January 18, 2024, where the Company found a new precious metal rich porphyry system located 3.5 kilometres to the northeast of its flagship Apollo system with previous intercepts including 646 metres @ 0.81 g/t AuEq from 19.5 metres depth.

Trap is a precious metal dominant porphyry system hosted in an early quartz diorite body, which is overprinted by at least two styles of late-stage porphyry related sheeted carbonate base metal (“CBM”) veinlets.

To date, all drill core within the mineralized zone at Trap has been strongly bleached by white porphyry related phyllic alteration (muscovite) potentially indicating that drilling has only encountered the top of the porphyry system and stronger mineralization might occur at depth or in a different proximal location. The mineralized system, which approaches surface in the northern most drilled point to date, is oriented in a west-northwest direction, plunging to the southeast, and is dipping to the northeast at a steep angle.

Trap covers a large surface area geochemically, measuring approximately 2 kilometres by 2 kilometres. Drill testing to date has been executed from three drill pads and has intersected mineralization in multiple directions. Including the results of this release, the mineralized envelope now covers an area measuring up to 600 metres along strike, 250 metres across and 915 metres vertical (previously 340 metres x 170 metres x 687 metres vertical). Trap remains open in all directions except to the east.

Ari Sussman, Executive Chairman commented:

“By using both down-hole acoustic televiewer and ASD Terraspec technologies, we have been able to confirm a west-northwest trend to the mineralization and that the phyllic alteration flooding the drill core is porphyry-related muscovite.

“Based on this information, drill hole TRC-7A was oriented to drill at an orthogonal angle to the Trap system resulting in an outstanding bulk intercept of mineralization.

“t is still early days for Trap and based on core interpretation, we do not believe that we have found the center of the early porphyry intrusion phase.

“We will remain aggressive with step-out drilling and in this regard, a new drill pad is planned in a location situated well south of current drilling.”

To read the full news release, please click HERE

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