04:36 PM EDT, 06/02/2025 (MT Newswires) -- Collective Mining ( CNL ) after trade Monday released initial results from its shallow drilling program at the Apollo system, part of its Guayabales Project in Caldas, Colombia.

The company said the first eight drill holes show promising high-grade gold, silver, copper, and tungsten mineralization near the surface, the company said.

As part of its 70,000-meter drill program for 2025, Collective is operating nine drill rigs, seven at Guayabales and two at the San Antonio Project. Two more deep-capacity rigs will be added to Guayabales in early Q3 to explore deeper areas of the high-grade Ramp Zone at Apollo, the company said.

The 2025 goals for Apollo include testing new high-grade zones near the surface, expanding the system both vertically and horizontally, and grow and define areas of outcropping and shallow mineralization, and fill in gaps in drilling data from surface down to 150 meters.

The company's shares closed up $0.51 to $15.44 on the Toronto Stock Exchange.