Collective Mining (CNL) provided an exploration update and announce that visual inspection of new drill core from step-out drilling at the Guayabales Project’s Ramp Zone and the San Antonio Project’s Pound target indicates that potentially significant mineralization has been intersected. The Company has ten diamond drill rigs operating and remains on track to complete its recently revised forecast of approximately 60,000 metres of drilling in 2025. The Guayabales and San Antonio Projects are located approximately 3 kilometers apart on either side of the Pan American Highway in Caldas, Colombia and benefit from significant nearby infrastructure including hydropower access, skilled labor and roads. As a result of the recently closed financing, the Company is in a strong financial position with approximately $145M in its treasury and will be able to carry out all activities to advance its business plan, at least until the end of 2027.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on CNL:
- Collective Mining Completes $140 Million Financing to Advance Guayabales Project
- Collective Mining Secures C$140 Million in Successful Financing
- Collective Mining Expands Stakeholder Engagement with Agnico Eagle’s Participation
- Collective Mining Expands Financing to C$125 Million Amid Strong Demand
- Collective Mining Extends Ramp Zone at Apollo System with Promising Drill Results