Collective Mining Drills High-Grade Tungsten, Copper, Gold, and Silver at Apollo System

On June 2, Collective Mining Ltd. (NYSE:CNL) announced that its drilling program at the Apollo system in Colombia has yielded exciting results and showed high concentrations of tungsten, copper, gold, and silver near the surface. These findings, from the first 8 holes of a 30-hole drilling campaign, suggest the potential for an early-stage mining operation.

A technician in a hardhat examining a drill head inside a mining facility.

The Apollo system has been explored down to 1,200 meters and is still open for further discovery. It has a distinct upper layer, about 150 meters from the surface, particularly rich in tungsten (known as scheelite), alongside copper, gold, and silver. Notable drill intersections include a 124-meter section with an average of 3.03 grams of gold equivalent per ton starting right from the surface, and another of 91 meters averaging 3.04 grams of gold equivalent per ton from 56.15 meters deep.

This discovery of tungsten is the first known hard-rock occurrence of the metal in Colombia’s history. Tungsten is considered a critical metal by the US and is exempt from tariffs. With China supplying 80% of the global tungsten market, and a 2027 deadline approaching for the US military to cease purchasing Chinese or Russian tungsten, this new source is important.

Collective Mining is now pursuing its 70,000-meter drill program for 2025, with 9 rigs currently operating. 2 additional rigs are scheduled to arrive in early Q3 2025 to further explore the deeper and high-grade Ramp Zone within the Apollo system.

Collective Mining Ltd. (NYSE:CNL) acquires, explores, and develops mineral properties located in Colombia.

While we acknowledge the potential of CNL  to grow, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than CNL and that has 100x upside potential, check out our report about the cheapest AI stock.

READ NEXT: 30 Stocks That Should Double in 3 Years and 11 Hidden AI Stocks to Buy Right Now.

Disclosure: None. This article is originally published at Insider Monkey.