COLLECTIVE METALS SUBMITS NOTICE OF WORK FOR 2024 EXPLORATION PROGRAM ON ITS PRINCETON PROJECT
Collective Metals Inc. has submitted three notices of work to the south-central British Columbia regional office of the Ministry of Energy, Mines, and Low Carbon Innovation (EMLI), located in Kamloops. The applications are for five-year MYABs (multiyear area-based permits) and include: up to 50 diamond drill sites over the five years; 50 line kilometres of IP (induced polarization) on the north portion of the property; and 50 line km on the south portion of the property. The applications include plans for a comprehensive exploration program in 2024, including up to 10 diamond drill sites along the Trojan-Condor corridor and 21 line km of ground-based IP at several outboard targets to follow-up on 2023 surface geochemical programs.
Year 1 drilling is proposed along a 3.3 km strike length of the Trojan-Condor corridor in areas where previous exploration trails and forestry roads provide easy access and opportunity for minimal ground disturbance. The exploration model for the area comprises a buried copper plus or minus gold porphyry associated with Triassic diorite intrusions, analogous to the Copper Mountain mine deposits approximately 10 km to the east. Several compelling geophysical and geochemical targets exist along the corridor, where outcrop is scarce due to a veneer/blanket of glacial till and outwash deposits (please see the company's news release dated Oct. 24, 2023). Drill targets will be refined over the winter months as results of the 2023 soil sampling program are synthesized with historic compilation work, reprocessed geophysical datasets and developing geological knowledge.
In addition to a diamond drilling program, the company has applied to conduct up to 100 line km of IP (over five years) at the Fourteen Mile, Lamont Ridge, Coalmont Road and Findlay targets. Fourteen Mile is an approximately 900 m by 1,800 m area with previously mapped iron carbonate-silica alteration, sporadic potassic anomalies and a small exposure of diorite. High-quality sieved roadside sediment samples collected by the previous operator yielded highly anomalous copper (up to 500 parts per million (ppm)). Lamont Ridge is a historic target area with several altered and pyrite-bearing outcrops, sporadic potassic radiometric anomalies, and weakly to moderately elevated copper in rock samples (517.8 ppm copper (Cu)). Findlay is a small (400 m by 500 m) area overlying a diorite stock at the south end of the Upper Triassic Rice Stock and a corresponding magnetic high, which has historically yielded moderately anomalous Cu in sediment and a rock sample of pyritic diorite returned more than 300 ppm Cu. The Coalmont Road target lies along the highway at the north edge of the Rice Stock, where a strong bright orange gossan is intermittently exposed over five km with associated structures. These outboard targets all returned multielement soil geochemical anomalies in the 2023 phase 2 soil sampling program, which will be discussed in the coming weeks.
Marketing
The company also announces that it entered into an agreement on Jan. 11, 2024, with RMK Marketing Inc. (address: 41 Lana Terrace, Mississauga, Ont., Canada, L5A 3B2; e-mail: Roberto@rmkmarketing.ca) to provide marketing services for a term of six months, commencing Jan. 29, 2024.
RMK is an independent company which will, as appropriate, provide project management and consulting for an on-line marketing campaign, co-ordinate marketing actions, maintain and optimize AdWords campaigns, adapt AdWords bidding strategies, optimize AdWords ads, and create and optimize landing pages. The promotional activity will occur by e-mail, Facebook and Google.
Under the terms of the agreement, the company will compensate RMK $250,000. The company will not issue any securities to RMK as compensation for the services. As of the date hereof, to the company's knowledge, RMK (including its directors and officers) does not own any securities of the company and has an arm's-length relationship with the company.
Qualified person
This news release has been reviewed and approved by Rick Walker, PGeo, who is acting as the company's qualified person for the property, in accordance with regulations under National Instrument 43-101.
The information disclosed is not necessarily indicative of mineralization on the property.
About Collective Metals Inc.
Collective Metals 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 kilometres west of the currently producing Copper Mountain mine. The Princeton project consists of 29 mineral tenures totalling approximately 28,560 hectares (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 lithium oxide. The Landings Lake lithium project is located 53 km east of Ear Falls, Ont., 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 totalling 7,775 hectares.
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https://collectivemetalsinc.com/
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