Wednesday saw a notable increase in the value of Collective Mining Ltd. (NYSE: CNL) shares. After rising 4.37% during the regular session to $9.08, CNL shares increased 4.63% after-hours to $9.50. The spike comes after the business announced that it will be expanding its drilling program aggressively with strong financial support.
Improved Financial Position and Aspiring Drilling Program
Collective Mining has strengthened its treasury to surpass US$78 million after successfully obtaining C$63.4 million in funding. In 2025, CNL plans to begin a massive 70,000-meter drilling program thanks to its improved financial standing.
The revised initiative will deploy up to ten diamond drill rigs across its Guayabales and San Antonio projects, marking the most extensive drilling effort in CNL’s history. Additionally, baseline environmental, hydrological, and metallurgical studies will be expedited to streamline future permitting processes.
The Apollo System: A Major Exploration Breakthrough
The Apollo System, the most significant discovery within the Guayabales Project, has emerged as a large-scale, high-grade bulk tonnage system resulting from grassroots exploration. This breakthrough comes at a time when major new exploration discoveries are scarce within the industry.
Collective Mining believes Apollo represents only the beginning of the potential within the Guayabales Project, with further discoveries anticipated through continued aggressive drilling. Meanwhile, early indicators of porphyry potential at the San Antonio Project have added to the company’s optimism.
Expanded Drilling Operations and Future Prospects
In 2025, up to eight drilling rigs will be dedicated to the Guayabales Project. Of these, seven will focus on Apollo, with three specifically targeting newly identified high-grade sub-zones to enhance the system’s overall grade.
Additionally, three rigs will be deployed to the Ramp Zone, an area that has yielded multiple high-grade intercepts, including results from drill hole APC105-D1. New, deeper-capacity rigs will arrive by June to further explore the Ramp Zone’s full potential.
Two smaller rigs will drill Apollo’s near-surface depths of up to 150 meters, with the first already operational and the second scheduled to commence within the next two months.
With a well-funded and extensive drilling program, Collective Mining (CNL) aims to unlock further value across its portfolio and solidify its position as a leading explorer in the mining sector.
