News Summary
On December 9, 2025, Collective Mining announced a significant expansion of its Apollo porphyry system at the Guayabales project in Colombia. Drilling has extended the system up to 450 metres to the north, well beyond the previously understood footprint.
Key highlights from the release include:
– Northern Expansion: Multiple broad intercepts have expanded the strike length of the Apollo system from ~600 metres to ~1,050 metres. The overall dimensions are now stated as approximately 1,050m strike x 400m width x 1,370m vertical extent.
– New Discovery: A new “Hanging Wall Vein Zone” was discovered serendipitously while drilling mother holes for deeper targets. This zone returned significant intercepts, including 130.4 metres @ 1.01 g/t AuEq and 61.3 metres @ 1.58 g/t AuEq.
– Strong Intercepts: Other notable intercepts in the northern expansion zone include 120.35 metres @ 1.26 g/t AuEq, 91.15 metres @ 2.13 g/t AuEq, and 111.2 metres @ 1.28 g/t AuEq.
– Future Plans: The company plans an aggressive 100,000-metre drill program for 2026 to further delineate the expanded system.
– Financial Position: The company reports a strong cash position of US$135 million.
Executive Chairman Ari Sussman noted that the view of Apollo should be reframed as a much larger entity encompassing the main breccia body and surrounding vein zones, highlighting the potential for significant resource expansion.
Material Impact
This news is materially positive and represents a significant de-risking event and a step-change in the potential scale of the Apollo project. While the company has consistently delivered strong exploration results, this announcement stands out for two key reasons:
1. Scale of Expansion: A 450-metre step-out to the north is a massive extension, nearly doubling the previously known strike length. This is not an incremental infill result but a major expansion that significantly increases the mineralized footprint and tonnage potential of the system.
2. Discovery of a New Zone: The identification of the Hanging Wall Vein Zone was unexpected. Discovering a new style of mineralization while targeting another demonstrates the robustness and fertility of the overall mineralizing system. It opens up a completely new target area for resource growth that was not previously contemplated.
This release builds upon a sequence of positive updates. After expanding the deeper, high-grade Ramp Zone on December 3, this news now demonstrates significant expansion potential in a different direction and at shallower depths. The grades reported are consistent with a bulk-tonnage deposit and are economically significant over the broad widths intersected. The market should react positively as this fundamentally increases the scope of what a future mining operation at Apollo could look like, reinforcing the view that Apollo is a Tier-1 discovery.
The announcement aligns with the company’s stated goal of demonstrating the multi-million-ounce potential of the system ahead of a maiden resource estimate planned for the end of 2026. With US$135 million in cash, the company is fully funded to execute its aggressive follow-up drilling.
Catalysts
– Follow-up Assays: Assay results from any drilling that specifically targets the new Hanging Wall Vein Zone and further step-outs to the north.
– Ramp Zone Drilling: Results from the deep-capacity rigs targeting the high-grade Ramp Zone at depth. The company believes this is the “engine” of the system, and further high-grade hits there would be significant catalysts.
– San Antonio Project: Updates from the ongoing drilling at the San Antonio project. A new discovery there would add another layer of value to the company.
– Maiden Resource Preparation: Any updates on the timeline and progress towards the maiden mineral resource estimate for Apollo, expected by the end of 2026.
– Technical Studies: Commencement of baseline environmental and metallurgical studies, which would be early indicators of a transition towards development.
Materiality Conclusion
The December 9, 2025 news is material and positive. It substantially expands the known mineralized footprint of the Apollo system and introduces a new, untested discovery zone. This is not routine news; it changes the perception of the ultimate size and potential of the deposit.
