Interview with Ari Sussman, Executive Chairman of Collective Mining Ltd.

Our previous interview: https://www.cruxinvestor.com/posts/collective-mining-tsxcnl-unearthing-a-polymetallic-giant-in-colombias-mineral-rich-landscape-5931

Recording date: 28th January 2025

Collective Mining is making significant strides at its flagship Guayabales project in Colombia, following a successful 2024 marked by the discovery of the high-grade Ramp Zone within the Apollo target area. The company plans its largest drilling campaign to date in 2025, with 60,000 meters of drilling fully funded by its US$40 million cash position.

The newly discovered Ramp Zone has yielded impressive early results, including intercepts of 57 meters at 8.11 g/t gold equivalent (including 18 meters at 20 g/t) and 15 meters at 20 g/t gold equivalent. The zone is characterized by a "reduced" mineral assemblage with high-grade gold associated with bismuth and tellurium, a signature distinct from the upper portions of the deposit.

A strategic advantage of the Ramp Zone is its location, starting approximately 1,000 meters below surface at the exact elevation where a future access tunnel would be constructed. This positioning enables gravity-assisted mining, potentially reducing operational costs by allowing ore to be dropped down shoots rather than hauled up by trucks.

The project shows similarities to the adjacent Marmato mine owned by Aris Mining, which hosts 6.3 million ounces at 2.5 g/t gold. Early indications suggest the Ramp Zone could deliver higher grades due to favorable host rock characteristics and vein overprinting.

CEO Ari Sussman envisions Guayabales becoming a major gold camp, with potential for multiple deposits across a 5x5km area. The company aims to define at least 10 million ounces of high-grade gold capable of producing over 400,000 ounces annually. Including the adjacent Marmato mine, Sussman sees potential for the broader area to ultimately host 30 million ounces of gold.

The project benefits from its location in Colombia's mining-friendly coffee region, with access to inexpensive hydropower, skilled labor, and established infrastructure. The permitting process is streamlined, requiring only 10 months by law.

While Collective Mining is positioning itself as a potential takeover target for major gold producers, the company is simultaneously preparing to develop the project independently if necessary. This includes advancing ESG initiatives and sustainability work to reduce lead time for any future development.

The investment thesis is strengthened by the project's location in an emerging gold district, strong financial position, and experienced management team with a track record of success through Continental Gold. With the current scarcity of major gold discoveries globally, Collective Mining represents a significant opportunity in the gold sector.

View Collective Mining's company profile: https://www.cruxinvestor.com/companies/collective-mining

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