VANCOUVER, British Columbia, July 04, 2024 (GLOBE NEWSWIRE) — COLLECTIVE METALS INC. (CSE: COMT | OTC: CLLMF | FSE: TO1) (the “Company” or “Collective”) is pleased to announce that the Company has entered into an agreement to engage Coast Mountain Geological Ltd. (“CMG”) for the management and ongoing geological services of the upcoming exploration activities at the Company’s flagship Princeton Copper Project (the “Project”) in British Columbia, Canada.
CMG is a forward-thinking geological consulting firm, offering a full range of services that includes highly diversified international expertise to all aspects of the mineral exploration and geotechnical process. CMG has provided worldwide geological services to clients for over thirty years, with a team of geoscience enthusiasts led by seasoned industry professionals.
With the Company recently providing review of the Trojan-Condor target area as well as a review of exploration and deposit models pertinent to the Project, the Company believes it is now critical to partner with a strong geological consulting firm to help lead the next phases of exploration. Results of Collective’s 2023 soil sampling program, taken together with historical geochemical and geophysical results, are interpreted to support the Trojan-Condor Corridor as a high priority, drill ready exploration target.
Chris Huggins, Chief Executive Officer of Collective, commented, “The decision to partner with CMG was straightforward given their proven track record in leading exploration and drill programs. With results of the 2023 soil sampling program being interpreted to support the Trojan-Condor Corridor as a high priority, drill ready exploration target, we are excited to further explore the area as we believe there to be significant potential.”
Princeton Project 2024 Work Program (the “Program”)
Phase 1 of the Program will be comprised of outcrop/alteration mapping and rock/soil sampling at two priority targets: the 14/15 Mile Creek Trend and the Lamont Ridge-Goat Creek Trend. Many anomalous rock samples have been taken within these two target areas, but very little lithological/alteration mapping appears within the available dataset. Correlating known geochemical anomalies to rock type, alteration, and potential economic mineralization will help define future drill targets.
Historical and recent soil sampling has identified highly anomalous copper +/- pathfinder elements associated with Fe-carb alteration at the Fourteen and Fifteen Mile Creek target areas. However, little to no sampling has occurred between the two targets, and current anomalies remain open in many directions. An east-west oriented grid infilling between the two targets and extending to the north (past Fourteen Mile Creek) is planned to expand upon the current coverage. This will also serve to explore suspected potassic alteration zones identified through 2008 airborne geophysical work immediately north of Fifteen Mile creek.1
Recent work by the Company at the Lamont Ridge-Goat Creek Trend (located in the northern claim group) outlined promising base and precious metal geochemical anomalies in both rock and soil samples. An infill and expansion grid are planned to extend these anomalies that are open in all directions. The grid will also cover suspected potassic altered zones inferred from the above-mentioned 2008 airborne survey, as well as cover a series of mapped intersecting NE/NW faults. The prospectivity of the area is further supported by a 2008 silt sample1 collected immediately upstream from the 2023 Lamont Ridge Grid that assayed 50.4 ppm Cu.
Finally, a recce soil grid is planned to cover a magnetic low target identified through 2011 geophysical work2 immediately south from the Trojan-Condor Corridor target area. A similar magnetic response underlies known mineralization within the Trojan-Condor Corridor.
Phase 2 of the Program will be comprised of IP geophysical work over the Trojan-Condor target area, as well as any anomalous zones identified through Phase 1 mapping and geochemical results.
Qualified Person
Patrick McLaughlin, P. Geo. (#41479), a “Qualified Person” for the purposes of National Instrument 43-101 – Standards of Disclosure for Mineral Projects, has reviewed and approved the scientific and technical information contained in this news release. Mr. McLaughlin is a geologist at Coast Mountain Geological Ltd. and is independent of the Company.
The information disclosed is not necessarily indicative of mineralization on the Project.
References
1 Saleken, L.W. 2010: Compilation Exploration Report on the Tulameen Project Property. BC ARIS 31585A.
2Thibaud, C. 2012: Geophysical Report for Goldcliff Resource Corporation 3DIP and Magnetometer Surveys on the Whipsaw Grid, Tulameen Project. BC ARIS 33626.
About Collective Metals:
Collective Metals Inc. (CSE: COMT | OTC: CLLMF | FSE: TO1) is a resource exploration company specializing in precious metals exploration in North America. The Company’s flagship property is the Princeton Project, located in south-central British Columbia, Canada, approximately 10 km west of the currently producing Copper Mountain Mine. The Princeton Project consists of 29 mineral tenures totaling approximately 28,560 ha (70,570 acres) in a well-documented and prolific copper-gold porphyry belt and is easily accessible by road, located immediately west of Highway 3.
The Company’s Landings Lake Lithium Project is located in northwestern Ontario where numerous lithium deposits have been delineated to host significant reserves of Li2O. The Landings Lake Lithium Project is located 53 km east of Ear Falls, Ontario and covers 3,146 hectares. The Whitemud Project, with several identified pegmatite outcrops, neighbours the Landings Lake Project and consists of 381 single cell mining claims totaling 7,775 hectares.
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ON BEHALF OF COLLECTIVE METALS INC.
Christopher Huggins
Chief Executive Officer
T: 604-968-4844
E: chris@collectivemetalsinc.com
Forward Looking Information
Certain statements in this news release are forward-looking statements, including with respect to future plans, and other matters. Forward-looking statements consist of statements that are not purely historical, including any statements regarding beliefs, plans, expectations or intentions regarding the future. Such information can generally be identified by the use of forwarding-looking wording such as "may", "expect", "estimate", "anticipate", "intend", "believe" and "continue" or the negative thereof or similar variations. The reader is cautioned that assumptions used in the preparation of any forward-looking information may prove to be incorrect. Events or circumstances may cause actual results to differ materially from those predicted, as a result of numerous known and unknown risks, uncertainties, and other factors, many of which are beyond the control of the Company, including but not limited to, business, economic and capital market conditions, the ability to manage operating expenses, and dependence on key personnel. Forward looking statements in this news release include, but are not limited to, statements respecting: the Project and its mineralization potential; the Company’s objectives, goals, or future plans with respect to the Project; the commencement of the Program in the future; the anticipated results of the Program; further exploration work on the Project in the future. Such statements and information are based on numerous assumptions regarding present and future business strategies and the environment in which the Company will operate in the future, anticipated costs, and the ability to achieve goals. Factors that could cause the actual results to differ materially from those in forward-looking statements include, the continued availability of capital and financing, litigation, failure of counterparties to perform their contractual obligations, loss of key employees and consultants, and general economic, market or business conditions. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement. The reader is cautioned not to place undue reliance on any forward-looking information.
The forward-looking statements contained in this news release are made as of the date of this news release. Except as required by law, the Company disclaims any intention and assumes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
The Canadian Securities Exchange has not reviewed this press release and does not accept responsibility for the adequacy or accuracy of this news release
