Initially the focus of Company's maiden drill program in 2021, a significant discovery was made amidst outcropping mineralized breccia and porphyry systems. Advanced surface work progressing.
| Target | Ranking | Status |
|---|---|---|
| Pound | 1 | Advanced surface work progressing |
| Dollar | 2 | Advanced surface work progressing |
| COP | 3 | Advanced surface work progressing |
The San Antonio project is located four kilometres east of the Company's Guayabales project and is straddled by the Pan-American highway. Aggressive exploration in 2020 and 2021 resulted in three porphyry and porphyry-related targets being generated. These targets are named Pound, Dollar and COP.
In 2021, the Company completed a 4,300 metre drill program resulting in a significant porphyry-related hydrothermal breccia discovery at the Pound target. San Antonio is ideally situated in an established mining camp, with 10 fully permitted mines operating within several kilometres of the project.
Phase 1 Completed in 2021 – Advanced surface work progressing
Initial Discovery Announced: October 27, 2021
PLAN VIEW OF THE POUND TARGET
The Pound target is a significant grassroots discovery made from surface, in October, 2021. The target is located in the northern portion of the project, is defined by multiple hydrothermal breccia bodies hosted within highly altered diorite and quartz diorite, and overprinted by late stage, polymetallic veins. 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.
A phase 1 drill program was completed in 2021 with two significant, 700+ metre intercepts of mineralization from surface encountered in each hole. The breccia body remains open in all directions and a phase 2 drill program is planned for 2023.
| 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
CHARGEABILITY SECTION OF DOLLAR TARGET & DRILL CORE
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 with subpar results acheived to date. However, 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, including follow-up drilling.
| 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 |
Preliminary Exploration Underway
The COP target is located in the centre area of the project, some 800 metres south of Pound. COP is defined by highly anomalous molybdenum (8 ppm to 108 ppm) and gold (up to 2.74 g/t) in soils, in association with altered diorite porphyry and quartz veinlets, over an area covering 650 metres x 350 metres.
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Collective Mining
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Toronto, Ontario M5C 1P1
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