Collective Mining Hits 154-Metre Gold Intercept
Drilling at the Apollo project in Colombia returned a long, gold-rich interval that sent the company's shares higher.
Updated on Nov. 3, 2026 in Stock Picks
Collective Mining reported a 154.3-metre gold intercept at its Apollo project in Colombia, with hole APC174-D4 returning 12.44 grams of gold and 11 grams of silver per tonne. The company's shares rose 13% on Tuesday.
Why it matters
The results suggest the Ramp Zone at Apollo could be larger and higher grade than the initial resource estimate. Testing whether deeper gold-rich zones could support underground mining alongside shallower open-pit material is central to the project's development path.
Hole APC174-D4 returned 12.44 grams of gold per tonne and 11 grams of silver per tonne over the 154.3-metre interval, which starts about 1,208 metres below surface. Reported intervals are downhole lengths, with estimated true widths of 60% to 100%, so true thickness remains unconfirmed.
The players
Collective Mining
Collective Mining is a Toronto-listed gold exploration company valued at about $1.5 billion that is developing the Apollo project in Colombia.
The details
The interval sits within Apollo, part of the Guayabales project about 198 km northwest of Bogotá. A main interval of 30.45 metres at 38.47 grams of gold per tonne was returned from about 1,339 metres below surface, and the hole ended with 12.2 metres at 0.71 gram of gold before reaching the rig's drilling limit.
Timeline
Aug. 31: Effective date of Apollo's initial resource estimate.
Nov. 3, 2026: Collective reported the Apollo intercept and shares jumped.
This month: Collective expects to begin construction of a roughly 3-km exploration tunnel.
Late next year to early 2028: Planned release of an updated resource after 100,000 metres of drilling.
Market Dynamics
Collective is targeting an environmental licence application in the second half of next year, the next regulatory step before Apollo can advance toward production. The company's valuation of about $1.5 billion depends on how quickly these permitting milestones are cleared against the drill results now being reported.
For investors weighing a stake in a development-stage miner, the timing of permitting and resource updates matters more than any single drill result. The next concrete checkpoints are the tunnel construction start this month and the environmental licence application targeted for the second half of next year.
The takeaway
Single high-grade intercepts are encouraging but do not establish a resource; investors should watch for the updated resource and licence milestones that will confirm whether the Ramp Zone's apparent upside holds across the deposit.
What happens next
Collective expects to begin construction of a roughly 3-km exploration tunnel this month, and plans an updated resource release between late next year and early 2028.
Further reading
Explore more on Stock Picks for context on how mining developments like this can shape investor interest.
Source note: This article includes information reported by The Northern Miner.
