07:06 AM EDT, 05/05/2025 (MT Newswires) -- Collective Mining ( CNL ) on Monday said it has discovered a mineralized gold-silver-copper-molybdenum porphyry system at the San Antonio project's Pound target.

Assay results from the discovery include 290.2 meters at 0.84 grams per tonne gold equivalent, including higher density mineralized zones of 40.9 meters at 1.44 g/t gold equivalent and 31.2 meters at 1.23 g/t gold equivalent.

Given the high density of porphyry stockwork veins hosted within the metagabbro country rocks, the company's special advisor Richard Tosdal believes a potential mineralized copper-gold porphyry system could be located proximal to the drill intercept.

Two drill rigs are being mobilized to the Pound target to immediately begin following up on the discovery hole.

"Now is the time to become aggressive with drilling as our technical team believes that the SAC-11 hole at the Pound target is close to the porphyry source," said Collective Mining ( CNL ) Executive Chair Ari Sussman. "With two rigs soon to be operating at Pound, we will look to vector to this source and with some luck, we will find a high-grade porphyry system."

Collective Mining's ( CNL ) share price traded 1.5% lower at US$9.30 in U.S. pre-market trading on Monday.