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Collective Mining Progresses Exploration Adit At Guayabales Project

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Collective Mining (CNL.TO) has progressed work on an exploration adit at the Guayabales project in Colombia, with construction expected to break ground in the fourth quarter, the company said Wednesday.

The exploration adit will provide underground drilling access, enhancing the company's ability to advance the project's geotechnical and hydrological characterization. It will also provide access for the future collection of metallurgical bulk samples, which will be important in supporting future project studies.

Detailed engineering studies and execution plans have progressed, and the company is now advancing through the relevant permitting track.

Collective has also completed various early activities, including completing the construction of an explosives storage facility, which has been inspected and approved for compliance by the relevant authorities.

"The progress on our exploration adit marks an important step in accelerating our understanding of the system from underground and advances the Guayabales project towards our ultimate goal of production," chief executive Ned Jalil said.

Meanwhile, Collective appointed Josue Romanos as its new vice president, projects.

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