Neuer2019 schrieb 31.05.23, 09:12
Collective Mining Drills 162.20 Metres at 3.90 g/t Gold Equivalent From Surface at the Newly Discovered Contact Zone and Expands the Strike Length of the Apollo System
https://www.collectivemining.com/investors/news-releases/index.php?content_id=211
-- Drill hole APC-45, which is the first hole into the Contact Zone in the southernmost part of the Apollo porphyry system from Pad 7, intersected an abundance of sheeted CBM veins overprinting earlier porphyry mineralization. Remarkably continuous high-grade gold-silver-copper was intersected over the entire core length with results as follow:
- 162.20 metres @ 3.90 g/t gold equivalent commencing from surface (consisting of 2.59 g/t gold, 29 g/t silver and 0.56% copper);
- The linear strike length for the Contact Zone between APC-45 and previously announced discovery holes APC-41 and APC-42 now measures approximately 150 metres and remains open to the northeast along strike for further expansion; and
- Three additional holes designed to test various parts of the Contact Zone (APC-53, APC-58 and APC-59) have been completed. Assay results for APC-53, a northeastern directed step-out hole are anticipated in June while results for APC-58 and APC-59 are expected in July.
-- Hole APC-48 was drilled to the southwest from Pad 7 and successfully expanded the overall footprint of the shallow mineralization to the southwest. Interestingly, the hole exited the brecciated portion of the Apollo porphyry system and continued to the end of the interval in a mineralized precursor porphyry unit with overall results as follows:
- 114.40 metres @ 2.38 g/t gold equivalent commencing from surface (consisting of 1.71 g/t gold, 15 g/t silver and 0.29% copper) within 236.70 metres @ 1.35 g/t gold equivalent.
- As a result of APC-48, the maximum known strike length of the system has increased to 435 metres (previously 385 metres) with the overall maximum known dimensions now measuring 435 metres strike x 385 metres width x 915 metres vertical. The system remains open for expansion in most directions.
-- Hole APC-47 was drilled in an easterly direction from Pad 4 in order to cut across the system in an area of the block model with limited information. A long and continuous interval of high-grade gold-silver and copper mineralization was intersected with results as follows:
- 307.60 metres @ 2.53 g/t gold equivalent from 226.80 metres downhole (consisting of 1.40 g/t gold, 53 g/t silver and 0.25% copper).
-- Two drill holes, APC-49 and APC-55 were designed to explore the depth potential of the Apollo system from Pad 6 to the northeast and northwest respectively. Detailed visual logging of both holes indicates that long and continuous zones of mineralization were encountered from surface to downhole depths of 840 metres and 790 metres respectively. APC-49 was terminated while still in mineralization due to a drilling related issue while APC-55 will expand the over dimensions of the Apollo system to the northeast if it is mineralized to the end of the interval. Assay results for these holes are expected in late June 2023.
-- Eleven additional holes have been completed at the Apollo system with assay results expected in the near term. All eleven holes intersected cumulative mineralization over varying yet significant downhole drill lengths. Three drill rigs are operating on site with a fourth rig expected to begin operating prior to the end of Q2, 2023. Once onsite, the fourth rig will focus on testing the six new exploration targets directly surrounding the Apollo system as well as regional targets within the three-kilometre porphyry corridor (see press release dated April 18, 2023, for further details).
Ari Sussman, Executive Chairman commented: “The Contact Zone at the Apollo system continues to intercept impressive high-grade mineralization and importantly can now be traced over a meaningful strike length. June 2023 is shaping up to be an exciting and important month for the Company with assay results expected for Contact Zone drill hole APC-53 and deep holes APC-49 and APC-55. Additionally, our aggressive exploration focus will expand with a fourth rig scheduled to arrive on site in late June. This rig will be designated to systematically test exploration targets surrounding the Apollo porphyry system and the greater Guayabales project.”
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