04:28 PM EDT, 06/30/2025 (MT Newswires) -- Collective Mining ( CNL ) said Monday afternoon it discovered a high-grade gold and silver vein at the ME target within its Guayabales Project in Caldas, Colombia.

The company drilled 534 grams per tonne of gold and 40 g/t silver over 0.65 metres in Hole MEC-2 at the ME target. This vein system, hosted within quartz diorite, contained visible sulfides including chalcopyrite, pyrite, sphalerite, and galena.

The company also completed a gravity survey covering two square kilometers adjacent to its flagship Apollo zone. This survey identified seven new gravity targets; Apollo South, X, ME, ME South 1, ME South 2, Plutus 1, and Plutus 2.

Drilling is currently underway at the ME target, and operations at Target X are set to start soon. Collective is deploying nine drill rigs in total, with seven at Guayabales and two at its San Antonio Project, the company added.

"We are going to aggressively drill as many of the gravity targets as feasible this year and are hopeful that we will be able to deliver another discovery before the end of 2025," Executive Chairman Ari Sussman said.

The company's shares closed up $0.45 to $14.90 on the Toronto Stock Exchange.