06:50 AM EDT, 09/03/2025 (MT Newswires) -- Collective Mining ( CNL ) , trading at 52 week highs in both Canada and the United States, announced Wednesday assay results for 11 diamond drill holes which include a new greenfield silver-rich discovery at the X target, "positive" infill results at the Apollo system and the interception of "moderately grading CBM veins" within a geophysical gravity high at the ME target.

A statement noted that all results announced today are from the company's multi-target, Guayabales Project in Caldas, Colombia. Among highlights for the X Target, CNL said it intercepted 12.85 metres at 503 g/t Silver Equivalent.

In providing more details, the company said it currently has 11 drill rigs turning as part of its fully funded 70,000 metre drill program for 2025 with eight operating at the Guayabales Project and three rigs drilling at the San Antonio Project. It noted drilling at the Guayabales Project is focused on multiple objectives relating to the Apollo system which include defining shallow mineralization, expanding and identifying new high-grade sub-zones and expanding the high-grade Ramp Zone at depth and along strike as well as testing new targets across the project area. Two deep capacity rigs are now drilling mother holes in order that directional drilling can soon commence to test Ramp at depth, it also noted.

CNL said approximately 134,500 metres of diamond drilling has been completed to date at the Guayabales Project, including 94,500 metres at Apollo. There are currently 17 drill holes in the lab with assay results for most of these holes expected in the near term, it added.

Ari Sussman, Executive Chairman, said: "We are extremely excited about the new discovery at X with the first two drill holes outlining a robust, silver-rich vein system over a large area measuring 500 metres by 500 metres and open in all directions. X was generated and outlined initially from a precious metal soil anomaly which was subsequently augmented by a gravity high geophysical anomaly to the west-northwest of the geochemical anomaly. Although only two holes have been drilled to date, we have learned that the geophysical gravity high anomaly is an ultramafic schist unit and that the silver-rich vein system is using the schist contact with porphyry rocks on its eastern flank as a conduit for metal deposition. With positive assay results in hand and a soil anomaly open to the north, the target remains largely untested. It is clear that we need to drill more holes at X to see what might evolve."

CNL was up near 4.2% and hit 52 week highs in Canada trade yesterday.