Collective Mining Ltd. (NYSE:CNL) is one of the best Canadian gold stocks to buy according to hedge funds. On July 21, the company announced results from its drilling program at the Apollo system within the Guayabales Project, located in Caldas, Colombia. The highlight is a drill intercept of 442.35 meters at 2.16 grams per ton (g/t) gold equivalent starting from surface, including 68.05 meters at 4.55 g/t gold equivalent. The hole (APC-125) bottomed while still in strong mineralization.
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According to the company, gold-equivalent grades are composed of a combination of gold, silver, copper, and tungsten. For the 442.35 meters, the breakdown is 1.18 g/t gold, 43 g/t silver, 0.21% copper, and 0.05% WO₃. Another hole (APC-126) recorded 325.10 meters at 2.03 g/t gold equivalent (0.98 g/t gold, 27 g/t silver, 0.47% copper, and 0.03% WO₃), starting 8 meters below the surface.
Apollo is the most advanced discovery within the Collective Mining’s multi-target Guayabales Project. The company said it is conducting a fully funded 70,000-metre drill program for 2025, operating ten drill rigs: eight at Guayabales, two at San Antonio.
Collective Mining Ltd. (NYSE:CNL) is a Canadian mineral exploration company focused on developing high-grade gold deposits in Colombia. Its flagship asset is the Guayabales Project, where the company has reported multiple high-grade drill results, including intercepts exceeding 9 g/t gold equivalent.
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Disclosure: None. This article is originally published at Insider Monkey.
