Highlights

  • Drill hole APC-159 intercepted 165.75m @ 5.35 g/t AuEq from 8.85m, including 31.70m @ 17.35 g/t AuEq.
  • Surface expansion extends the Apollo breccia body northeast by approximately 30 metres.
  • Four additional holes returned significant gold, tungsten, silver, and copper grades above model predictions.

Collective Mining (TSE:CNL) announced assay results from five diamond drill holes at the Apollo system within its Guayabales Project in Caldas, Colombia. Drilling focused on defining and expanding the high-grade, outcropping gold-tungsten zone near the summit of Apollo.

Hole APC-159 highlighted a surface intercept of 165.75 metres @ 5.35 g/t AuEq from 8.85 metres, including a high-grade section of 31.70 metres @ 17.35 g/t AuEq. Additional mineralization was found deeper, including 64.00 metres @ 2.00 g/t AuEq from 236.00 metres, representing newly discovered sheeted veinlets within the Hanging Wall Zone.

Four other drill holes from Pad 22 also returned substantial results:

  • APC-155: 60.45m @ 4.68 g/t AuEq from surface, including 22.15m @ 6.98 g/t AuEq.
  • APC-156: 99.95m @ 2.64 g/t AuEq from surface, including 26.25m @ 4.72 g/t AuEq.
  • APC-157: 60.85m @ 3.06 g/t AuEq from surface.
  • APC-158: 131.20m @ 2.61 g/t AuEq from 6.80m, including 34.55m @ 4.13 g/t AuEq.

These intercepts included gold, tungsten, silver, and copper, with grades exceeding predictions from the internal block model. Drill spacing in this area is now at 30-metre centers from surface to 150 metres depth, closing previous gaps in the model.

Northeast Expansion of Apollo Breccia
Step-out drilling at Apollo has expanded the breccia body approximately 30 metres to the northeast, and mineralization remains open for further extension. The drilling highlights significant potential in the shallow portions of Apollo while also identifying zones for deeper high-grade exploration.

To date, Collective Mining has completed 167,500 metres of diamond drilling across Guayabales and San Antonio projects, with 110,000 metres at Apollo. The company has USD 135 million in cash to fund its 2026 drilling program, which anticipates up to 100,000 additional metres of drilling using as many as fourteen rigs.

Multi-Metal Mineralization Across Guayabales
Apollo is part of a larger intrusion-related system enriched in gold, tungsten, silver, and copper. Surface and near-surface drilling continues to delineate continuous mineralization from surface to over 1,410 vertical metres, including the high-grade Ramp Zone that remains open at depth.

These results reinforce Apollo’s status as a key exploration discovery within the Guayabales district, highlighting areas for further expansion and resource definition.

Stock Performance
CNL share traded at CAD 22.23, up 3.64% as of 6 Feb 2026

Summary
With extensive drilling results showing high-grade gold and multi-metal mineralization, Collective Mining’s Apollo system is expanding its surface footprint while maintaining potential at depth. Market participants are tracking ongoing exploration progress ahead of a planned maiden mineral resource estimate in H1 2027.

FAQs
Q1. How much cash does Collective Mining have for 2026 drilling?
The company has USD 135 million to fund drilling programs.

Q2. How many metres of drilling are planned for 2026?
Up to 100,000 metres are planned, with fourteen rigs potentially operating.

Q3. How deep is mineralization at Apollo?
Mineralization has been delineated from surface to over 1,410 vertical metres, remaining open at depth.