TORONTO, Nov. 14,
2022 /CNW/ - Collective Mining Ltd. (TSXV:
CNL) (OTCQX: CNLMF) ("Collective" or the "Company") is pleased
to announce that the Mayor's office of Marmato has formally
acknowledged Collective Mining's social activities and efforts
within the municipality. Known as "Resolution 520, 2022", the
municipality expresses its gratitude for the contributions to the
development of social, economic and governance matters since the
Company's arrival in 2020.
The township of Marmato, which is located in the department of
Caldas, is one of the most historic and significant gold and silver
mining regions in the western hemisphere of the world with
continuous production beginning more than 500 years ago. Collective
Mining's Guayabales project is located in the heart of this
long-established mining camp which has 10 fully permitted and
operating mines located within a three kilometres radius of the
project.
Since Collective Mining's arrival to Marmato in 2020, the
Company has focused on aligning itself with the municipality's
"Development Plan" by cooperating with initiatives that are
relevant for the community and region. These efforts have included
the improvement of rural roads, providing technical proficiency to
Marmato's coffee growers, protecting local water sources,
monitoring and improvement of the aqueducts in the municipality and
establishing beekeeping projects.
"Collective is a company that listens to the communities and
embraces the needs of our municipality. From day one, they have
supported us in our Development Plan. We wish to highlight that the
Company always brings with it great respect for our communities.
That is why, today, we can ratify this formal recognition proving
it is possible to work hand in hand with a private company," said
Yesid Castro, Mayor of Marmato.
"Since our arrival to the region, our goal was to add value to
local communities while advancing our efforts in making the next
major discovery in Colombia. Since
inception, our Company has been committed to a "Collective"
approach to the development of projects, working alongside local
government and communities to help develop our ESG initiatives.
This recognition, coupled with our multiple geological discoveries
are evidence that we are on the right track. We wish to express our
gratitude to the local communities and to the Mayor and his team
for allowing us to bring value and work alongside the citizens of
Marmato," commented Omar Ossma, President and CEO of Collective
Mining.
About Collective Mining
Ltd.
To see our latest corporate presentation and related
information, please visit www.collectivemining.com.
Founded by the team that developed and sold Continental Gold
Inc. to Zijin Mining for approximately $2
billion in enterprise value, Collective Mining is a copper,
silver and gold exploration company based in Canada, with projects in Caldas, Colombia. The Company has options to acquire
100% interests in two projects located directly within an
established mining camp with ten fully permitted and operating
mines.
The Company's flagship project, Guayabales, is anchored by the
discovery of the "Main Breccia" at the Apollo target in
June 2022, which is a large
bulk-tonnage, and high-grade copper, silver and gold
porphyry-related hydrothermal breccia system. The Company's
near-term objective is to continue expanding the size of the Main
Breccia discovery through step-out drilling while simultaneously
increasing confidence in the highest-grade portions of the
system.
Management and insiders own nearly 35% of the outstanding shares
of the Company and as a result, are fully aligned with
shareholders. The Company is listed on the TSXV under the trading
symbol "CNL" and on the OTCQX under the trading symbol "CNLMF".
FORWARD-LOOKING
STATEMENTS
This news release contains certain forward-looking statements,
including, but not limited to, Collective's future and
intentions. Wherever possible, words such as "may", "will",
"should", "could", "expect", "plan", "intend", "anticipate",
"believe", "estimate", "predict" or "potential" or the negative or
other variations of these words, or similar words or phrases, have
been used to identify these forward-looking statements. These
statements reflect management's current beliefs and are based on
information currently available to management as at the date
hereof.
Forward-looking statements involve significant
risk, uncertainties, and assumptions. Many factors could
cause actual results, performance, or achievements to
differ materially from the results discussed or implied in the
forward-looking statements. These factors should be
considered carefully, and readers should not place undue
reliance on the forward-looking statements. Although the
forward-looking statements contained in this news release are based
upon what management believes to be reasonable assumptions,
Collective cannot assure readers that actual results will be
consistent with these forward-looking statements. These
forward-looking statements are made as of the date of this news
release, and Collective assumes no obligation to update or revise
them to reflect new events or circumstances, except as required by
law.
Neither the TSXV nor its Regulation Services Provider (as that
term is defined in the policies of the TSXV) accepts responsibility
for the adequacy or accuracy of this news release.
SOURCE Collective Mining Ltd.