Phase 1 completed in 2021and initial discovery announced
Further surface work completed in 2022
Follow up drilling commenced in January 2025
The Pound target is a significant grassroots discovery announced in October 2021, is located in the northern portion of the project and is defined by multiple, outcropping, hydrothermal breccia bodies hosted within highly altered diorite and quartz diorite which pass into a mineralized porphyry vein system hosted within metagabbro country rock at depth. As with the Guayabales area, all porphyry systems are overprinted by late stage, polymetallic veins.
Historical drilling highlights include 710 metres at 0.53 g/t gold equivalent from surface including 133 metres at 0.92 g/t gold equivalent from 470 metre depth (SAC-8); and 750 metres at 0.41 g/t gold equivalent from surface including 187 metres at 0.59 g/t gold equivalent from 60 metre depth (SAC-6).
Recent mapping and sampling at Pound have encountered widespread and more extensive mineralization and has expanded the surface footprint of the highly altered system to 650 metres x 550 metres. Re-logging of historical diamond drilling has identified porphyry quartz veining hosting copper and gold at depth within the metagabbro country rock.
This zone of altered intrusive and breccia bodies trends NE-SW and has as strike length of 1.3 kilometres. The zone remains open in all directions.
|
Hole # |
From (m) |
To (m) |
Intercept (m) |
Au (g/t) |
Ag (g/t) |
Cu% |
Mo % |
AuEq (g/t)* |
|
SAC-6 |
– |
750.40 |
750.40 |
0.32 |
6 |
0.02 |
0.001 |
0.41 |
|
Incl. |
59.80 |
246.55 |
186.75 |
0.50 |
9 |
– |
– |
0.59 |
|
and |
680.85 |
750.40 |
69.55 |
0.41 |
2 |
0.12 |
0.009 |
0.65 |
|
SAC-8 |
– |
710.05 |
710.05 |
0.40 |
6 |
0.04 |
0.001 |
0.53 |
|
Incl. |
3.50 |
155.70 |
152.20 |
0.50 |
11 |
0.01 |
0.000 |
0.62 |
|
and |
469.80 |
603.10 |
133.30 |
0.61 |
6 |
0.15 |
0.003 |
0.92 |
Reconnaissance Drilling Completed in 2021
Advanced surface work progressing
The Dollar target is located towards the southern end of the project consisting of surface level outcropping of quartz diorite porphyry host stockwork and sheeted quartz-magnetite vein systems associated with disseminated pyrite, and covers a 500 metre radius.
Scout drilling (6 holes) covered a portion of the target area. Subsequent to drilling, ground geophysics was performed resulting in the identification of the eastern anomaly, where no exploration work has taken place. The Company is planning further exploration work at Dollar.
Hole # | From (m) | To (m) | Intercept (m) | Au (g/t) | Ag (g/t) | Cu% | Zn % | Mo % | AuEq (g/t)* |
SAC-7 | – | 621.15 | 621.15 | 0.22 | 3 | 0.01 | 0.2 | 0.001 | 0.26 |
Incl. | 547.40 | 621.15 | 73.75 | 0.49 | 6 | 0.05 | 0.2 | 0.001 | 0.62 |
Russell Evans.Mr. Evans is a senior mining professional with extensive international experience in mineral exploration and resource development. He has held leadership roles in exploration and technical teams at Newmont Mining Limited and Vedanta Limited, including its subsidiary Hindustan Zinc Limited. His expertise includes advancing district-scale exploration programs, refining geological models, and identifying high-potential targets, with a strong focus on responsible and efficient execution. Mr. Evans holds a B.Sc. (Hons.) in Applied Geology from the University of Technology Sydney and is a Fellow of the Australasian Institute of Mining and Metallurgy (FAusIMM).
Carlos Santos.Mr. Santos has more than 20 years of senior leadership experience in strategy, operations and corporate services across the Americas, with a strong track record in Colombia’s resource sector. Most recently, he served as CEO of Americas Business Services at Holcim / Amrize, leading growth and cash-generation strategies from Canada to Argentina and overseeing a team of 1,400+ employees with full accountability for finance, procurement, sales, human resources and data management. Previously, he held senior executive roles at Ecopetrol S.A., including Vice President of Supply Chain & Shared Services. Mr. Santos holds a degree in economics and postgraduate studies in international economics.
Raphael Maracajá.Mr. Maracajá is a senior mining professional with 20 years of international experience in both open pit and underground operations. He has held leadership roles in operations and technical services at companies such as Hudbay Minerals, Equinox Gold, Appian Capital and Yamana Gold.
His expertise includes strategic mine planning, the implementation of new mining methods and systems and he has a proven track record of optimizing operations across North and South America. Mr. Maracajá holds a degree in Mining Engineering from the University of São Paulo, along with certifications from UBC, McGill, and CIM and is a prospective member of AusIMM.
Ned JalilMr. Jalil is a seasoned mining executive with over 25 years of global experience across gold, silver, copper, and nickel. He has led projects from exploration through to construction and production, holding senior roles at Kinross Gold and Appian Capital. As Chief Technical Officer at Kinross, he advanced key assets including Great Bear and Manh Choh. At Appian, he led the MVV Copper-Gold Project to completion ahead of schedule and under budget. Mr. Jalil holds an MBA from the Kellogg-Schulich Executive MBA Program and both Bachelor’s and Master’s degrees in Mining Engineering from Queen’s University. He is a licensed Professional Engineer and a Qualified Person under NI 43-101.
Jasper Bertisen.Jasper is a seasoned leader in the mining industry with a proven track record of successfully driving strategic initiatives. He has spent the majority of his career in mining private equity with Resource Capital Funds, overseeing due diligence and strategy execution for investments spanning development-stage to producing assets across various commodities and global markets. With extensive governance experience, Jasper has served on the boards of both private and public mining companies, as well as on the advisory boards of several mining technology companies. He is also an Adjunct Professor at the Colorado School of Mines and holds M.Sc. degrees in Mining Engineering and Mineral Economics..
Angela María Orozco Gómez.Angela María is a seasoned executive with over 30 years of government and international experience. Most recently, Angela María was the Minister of Transport and Infrastructure, Colombia where she led various initiatives that secured public and private investments in the transportation and infrastructure industries. She has also been a partner in various private ventures that helped to represent industries in international trade disputes.
Paul Murphy, B.Comm, CA.Paul Murphy was a Partner of PricewaterhouseCoopers LLP from 1981 to 2010 including serving as National Mining Leader from 2004 to 2010. Throughout his career, Mr. Murphy has worked primarily in the resource sector, with a client list that includes major international oil and gas, and mining companies. His professional experience includes financial reporting controls, operational effectiveness, International Financial Reporting Standards (IFRS), and SEC reporting issues, financing, valuation, and taxation as they pertain to the mining sector. He was previously a Director of Continental Gold until its acquisition in March 2020, Chief Financial Officer and Executive Vice President of Guyana Goldfields from 2010 to 2018, and Chief Financial Officer of Guyana Precious Metals from 2012 to 2018. Mr. Murphy obtained a Bachelor of Commerce degree from Queen’s University and his Chartered Accountant designation in 1975.
María Constanza García Botero, MA.Maria Constanza has extensive experience in Colombian mining, infrastructure, energy, urban development and public finance. Over her career, Maria has held high-level positions within government agencies, multilateral development institutions and private companies. While working within the Colombian government, Maria has served as the President of the Colombian National Mining Agency (ANM), the Deputy Minister of Transport Infrastructure, and held various leadership and advisory positions across the National Planning Department, the Hydrocarbons Agency and the Ministry of Finance of Colombia. As part of the private sector, Maria was the Director of International Cooperation for Agriteam, an international consultancy group funded by the Government of Canada in order to advance governance in extractive industries in Colombia, as well as having held manager positions at CEMEX Colombia, the Inter-American Development Bank and the World Bank (Washington DC) in areas such as infrastructure, housing, urban development, municipal finance, and urbanism. Maria holds outstanding academic credentials as an industrial engineer from Universidad Tecnológica de Pereira, Colombia with masters’ degrees in urban and regional planning, as well as in public administration from Ohio State University (USA), and graduate level degrees in economics and public administration from Universidad de los Andes.
Ashwath Mehra.Mr. Mehra is a seasoned executive with 35 years of global experience in the minerals industry. Mr. Mehra is an economist by training and received his BSc (Econ) in Economics and Philosophy from the London School of Economics. He is the CEO of the ASTOR Group, a private investment and advisory business, working in the fields of mining, technology, biotech and real estate. He spent many years in the commodity trading and mining business as well as owning, buying and selling companies. He is a director of several companies, both public and private in both executive and non-executive roles. He also devotes significant time to non-profit activities in the fields of education and healthcare. Most recently, Mr. Mehra was Executive Chairman of GT Gold, a company he founded and sold to Newmont Corporation generating a significant return to GT Gold shareholders.
Ari SussmanHaving dedicated the majority of his career to the natural resources industry, Ari Sussman currently serves as Executive Chairman of the Board of Collective Mining Ltd. a mineral exploration company focused on acquiring and developing mining projects in Colombia. From 2010 until March of 2020, Mr. Sussman was the Founder, Chief Executive Officer and Director of Continental Gold Inc. Under Mr. Sussman’s leadership, the Company raised almost $1 billion and discovered more than 11 million ounces of high-grade gold and silver at the Buriticá project in Antioquia, Colombia. After completing construction of the mine in early 2020, the Company was sold to Zijin Mining, one of the world’s largest diversified mining companies, for total consideration of approximately C$2 billion. Today, the world-class Buriticá mine is the most modern and largest operating gold mine in Colombia with annual production of more than 250,000 ounces of gold. Mr. Sussman was born and raised in Toronto, Canada and is married with three children.
Rodolfo Higuera.Rodolfo Higuera has more than 10 years of experience in the Mining Industry. His professional career has focused on sustainability, social and environmental processes. He participated in the licensing process, construction and start-up of the operation of the Buriticá Project of Zijin – Continental Gold. Previously he was supporting different projects such as the Eco Oro Minerals Corp project (as advisor to the IFC advisor), PazdelRío Mines Project – Votorantim Metais and mining and industrial operation of Acerías Paz del Río; participating and leading social, environmental and mining formalization processes. Mr. Higuera is a sociologist from Universidad Nacional de Colombia, with postgraduate studies in Sustainability and Social Responsibility from Universidad de Los Andes.
Maria Juliana Ospina.Former Director of the Steel Industry Chamber of the National Business Association of Colombia (ANDI) with an extensive background in both government relations and marketing.
Maria Juliana is a business administrator with postgraduate studies in strategic marketing. She has more than 20 years of professional experience, with a broad mix of public and private sector experience, and 10 years of background in industry promotion, both from the Government side (in the Ministry of Industry and Commerce) and from the Private Sector (ANDI – the biggest and most important commerce and industry association in Colombia).
Carlos David Ríos.Carlos David Ríos has over 15 years of experience in Exploration and Mining Industry in Colombia and LATAM region. Prior to Collective Mining, he served as Exploration Manager in Touchstone Gold in Colombia, Exploration Manager in Zijin – Continental Gold; Geology Manager of Cemex LATAM Holdings, Specialist Modelling and Resources Estimation Specialist in Cerro Matoso.
Mr. Ríos has a degree in Geological Engineer from the National University of Colombia and a postgraduate degree in geostatistical estimation of mineral deposits from the University of Alberta in Canada.
Richard Tosdal, MSc., PhD.Dr. Richard Tosdal is a world renowned specialist in mineralized porphyry deposits. Richard holds an M.Sc. from Queens University in Kingston, Ontario and a Ph.D from the University of California. He has over 45 years experience in the minerals industry and academic research that includes being a consultant for a variety of mining and exploration companies, a research scientist at the US Geological Survey and a director of the Mineral Deposit Research Unit (MDRU).
David Reading, MSc. Economic GeologyMr Reading has over 40 years of expertise in the global gold mining and base metal industries within the fields of exploration, feasibility, project development and mining. He was Special advisor to Continental Gold up until the Zijin sale, the former CEO of European Goldfields and previously head of exploration for Randgold Resources. Over the last ten years he has consulted to various Toronto and London based mining groups with assets in the Americas and the rest of the world. Mr Reading has an MSc in Economic Geology and is a fellow of the Institute of Materials, Minerals and Mining (IOM3) and the Society of Economic Geologists (SEG).
Paul BeginMr. Begin was Chief Financial Officer of Continental Gold from May 2011 to March 2020, prior to which he served as Chief Financial Officer and Corporate Secretary for Hanfeng Evergreen Inc., a developer and producer of value-added fertilizers in China and Southeast Asia (from 2009 until 2011), and Vice President and Chief Financial Officer of Trilliant Incorporated (formerly OZZ Corporation), a network solutions provider from 2004 until 2009. Prior to that, Mr. Begin served as Corporate Controller at MDC Partners Inc., a Canadian-based marketing communications and secure transactions company. Mr. Begin obtained his Chartered Accountant designation with BDO Dunwoody, LLP. Mr. Begin holds a Bachelor of Arts (Honours) degree in Political Science from the University of Western Ontario and a master’s degree in Business Administration from the University of Toronto.
Omar OssmaOmar Ossma has over 15 years of experience in the Mining and Energy Industry in Colombia, and over 20 years of experience in Colombian corporate, environmental, mining and energy law. He has focused most of his professional career and experience into structuring mining and energy projects in Colombia. As former Legal Vice President for Continental Gold he was instrumental in the Company´s strategy towards licensing, building, and putting in operation the Buriticá Project, the largest gold mine in Colombia, which was finally sold to Zijin Mining Group. Prior to Continental Gold, he served as Legal Vice-President of Minas Paz Del Rio, S.A., a wholly owned subsidiary of the Brazilian industrial conglomerate Votorantim Group, and Legal Manager of Eco Oro Minerals Corp. Mr. Ossma has held senior positions as a lawyer in a number of mining and energy sector companies, including Empresa de Energía de Bogotá, a state owned company focussed on electricity and gas transportation in Central and South América, and Spaniard public utilities conglomerate Endesa Group (Emgesa S.A. Esp. – Codensa S.A. Esp). He holds a law degree from Universidad Externado de Colombia.
