#Colombia #Collective Mining #Apollo Project #Caldas #Tungsten

Collective Mining Reports High-Grade Tungsten and More from Apollo Drilling Project

Collective Mining Ltd. made an important announcement on June 2, 2025, revealing the initial assay results from its shallow drilling program at the Apollo system, part of the larger Guayabales Project in Caldas, Colombia. Over the course of this program, which includes thirty planned drill holes, the company has received high-grade assay results from the first eight holes. These findings are aimed to both outline and expand potential mineralization in the Apollo system.

The Apollo area has been drilled to a depth exceeding 1,200 meters and remains open for further exploration. Geologically, this region can be segregated into four distinct areas of metal zonation, with the uppermost 150 meters from the surface rich in tungsten scheelite, as well as gold, copper, and silver. The results from four holes drilled at shallow depths have highlighted significant findings:

• - 124 meters @ 3.03 g/t AuEq (0.66% WO3Eq) from surface at hole APC-115, which includes 0.55 g/t gold, 86 g/t silver, 0.63% copper, and 0.16% tungsten.
• - 91 meters @ 3.04 g/t AuEq (0.66% WO3Eq) from 56.15 meters down hole at APC-110, featuring 0.85 g/t gold, 48 g/t silver, and 0.39% copper.

This initiative marks a groundbreaking moment for tungsten mining in Colombia, as it represents the country's first documented hard-rock occurrence of this critical metal. Tungsten, which is often used in various industry applications due to its toughness and high melting point, is particularly notable in this context as it is anticipated to be mined alongside gold, silver, and copper in future operations. Currently, a staggering 80% of the global tungsten supply comes from China, and a 2027 U.S. military directive will ban the procurement of tungsten electrolyzed or processed in China and Russia.

The price of tungsten has recently surged to approximately $14.75 per pound, a twelve-year high, fueling optimistic market expectations. Collective Mining has substantially budgeted for its drilling operations in 2025, with plans for a comprehensive 70,000-meter drilling campaign. At present, nine rigs are operational at the Guayabales Project, alongside two additional rigs working in southern exploratory areas.

The company aims to achieve several objectives throughout the 2025 drilling program:
1. Test New High-Grade Sub-Zones: Identify and drill newly modeled high-grade sub-zone targets within the upper 1,000 meters of the Apollo system.
2. Expand the System: Increase the overall dimensions by investigating both vertical and lateral directions relating to the recently identified high-grade Ramp Zone and extend into northern portions of Apollo.
3. Investigate Shallow Mineralization: Define areas of surficial or shallow mineralization and examine existing gaps within the internal geological model, reaching depths of approximately 150 meters.

To date, 123,000 meters of diamond drilling has been executed at the Guayabales Project, with 85,000 meters specifically at Apollo. Currently, twenty-three additional holes are awaiting assay results, expected in the near future. Ari Sussman, Executive Chairman of Collective Mining, expressed optimism regarding the ongoing exploration, noting the continuous discovery of high-grade tungsten in combination with other minerals as a strategic advantage for Colombia. He stated, "It will place Colombia on the map as an important supplier of critical minerals in the Americas."

The next few months promise excitement with the arrival of enhanced drilling equipment, targeting depths in the high-grade Ramp Zone. The company has also successfully drilled its first hole in the early-stage ME target and plans to investigate two newly identified targets named Knife and X. Drilling operations at the San Antonio Project will also focus on uncovering potential high-grade copper-gold porphyry deposits.

As the drill program progresses, more drill holes are under analysis, and results are anticipated shortly. With its commitment to exploring high-caliber mineralization and to expanding the Apollo system, Collective Mining is poised to contribute significantly to the resurgence of the mining sector in Colombia.

Collective Mining Ltd., originating from a team that successfully developed and sold another company for around $2 billion, focuses on mining exploration projects for gold, silver, copper, and tungsten. The Guayabales project, known for its significant gold and other precious metals, remains at the forefront of its strategic initiatives. The company trades publicly on both the NYSE American and TSX under the ticker symbol "CNL."