Collective Mining Highlights Strong Copper and Tungsten Metallurgical Results; Advances Apollo Flowsheet for 2027 Licensing Submission
Original announcement by orestocks on
- Company
- Collective Mining Ltd.
- Ticker
- CNL.TO
- Exchange
- Unavailable
- Region
- Caldas, Colombia
- Primary commodity
- Copper
- Secondary commodities
- Tungsten, Gold, Silver
- Document categories
- Resource update, Metallurgy
- Extracted
- 2026-09-21 10:49:11 UTC
Analysis by Minestarters Atlas
Minestarters Atlas analysis
Summary
Collective Mining has announced strong metallurgical results for its Apollo deposit at the Guayabales Project in Colombia, demonstrating high recoveries for gold, silver, copper, and tungsten using conventional processing methods. The company is advancing an integrated flowsheet to support a planned 2027 licensing submission. The release also includes details of the maiden mineral resource estimate for Apollo, effective August 31, 2026, which outlines significant indicated and inferred resources across multiple metals.
Reasoning: The document highlights strong metallurgical results for multiple commodities and details an integrated processing strategy, which de-risks the project. The accompanying maiden mineral resource estimate provides a substantial base, further enhancing the project's potential. While some metallurgical results are historical, the overall advancement towards a licensing submission is a significant positive.
Positive factors
- Strong metallurgical recoveries for gold, silver, copper, and tungsten using conventional methods, supporting project viability.
- Advancement of an integrated processing flowsheet tailored to the deposit's metal distribution, indicating a clear development path.
- Maiden Mineral Resource estimate provides a solid foundation for the project, with significant indicated and inferred resources across multiple metals.
- High M&I percentage in the resource estimate (43.4% of total contained AuEq) indicates good geological confidence.
Negative factors
- The metallurgical results for the Apollo master composite are historical, having been disclosed in August 2026.
- The resource estimate is a maiden resource, which typically has a higher inferred component, and a significant portion of the contained metal is in the inferred category.
Low confidence — this extraction should be reviewed alongside the original source.
Facts used in scoring: 29
Classification and evidence
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: Ned Jalil, P.Eng., Chief Executive Officer of the Company and a Qualified Person as defined by National Instrument 43-101, has reviewed and approved the scientific and technical information.
Evidence · text
“Ned Jalil, P.Eng., Chief Executive Officer of the Company and a Qualified Person as defined by National Instrument 43-101 – Standards of Disclosure for Mineral Projects ("NI 43-101"), has reviewed and approved the scientific and technical information contained in this news release.”
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: The Mineral Resource is classified in accordance with the CIM Definition Standards for Mineral Resources and Mineral Reserves, and the QP is defined by National Instrument 43-101.
Evidence · text
“Mineral Resources are classified in accordance with the CIM Definition Standards for Mineral Resources and Mineral Reserves.”
Maiden Resourceneutral
First formal MRE for the project — establishes baseline but typically exploration-stage with high Inferred component. No prior estimate exists, so every change band is not applicable.
Why it applies: The document explicitly states 'Apollo Maiden Mineral Resource (announced September 8, 2026)'.
Evidence · text
“Apollo Maiden Mineral Resource (announced September 8, 2026)”
High Recoverypositive
Recovery at or above the exceptional band for the commodity and processing route.
Why it applies: The Apollo master composite achieved 95% gold, 92% silver, and 85% copper recovery, which are strong to exceptional for conventional processing methods.
Evidence · table
“95% gold, 92% silver, and 85% copper recovery using conventional processing methods”
Context: Au: 1.4 g/t Ag: 20 g/t Cu: 0.08%
Pilot Scale Completepositive
Pilot or demonstration plant testing completed under continuous operation.
Why it applies: The Apollo master composite test work is described as 'Locked-cycle testing', which is a strong indicator of test scale maturity.
Evidence · table
“Apollo master composite / Locked-cycle testing”
Context: Au: 1.4 g/t Ag: 20 g/t Cu: 0.08%
Mill Routeneutral
Processing via mill or concentrator (CIL, CIP, tank leach, flotation).
Why it applies: The processing strategy involves 'conventional cyanidation circuit' and 'flotation' for different material types.
Evidence · text
“The majority of the Mineral Resource, where copper and tungsten grades are low, will be processed through a conventional cyanidation circuit with low reagent consumption to produce gold and silver doré. The higher-grade copper and tungsten sub-domains which are contained mostly within the Open Pit portion of the mineral resource will be selectively routed through dedicated flotation concentrate circuits designed to recover those metals.”
Recovery Improvingpositive
Recovery improved versus a like-for-like prior test program on the same domain and route.
Why it applies: The document states '95% copper, 90% gold and 94.4% silver recovery through gravity, flotation and cyanidation' for the copper sub-domain composite, which is a new result and shows high recoveries.
Evidence · table
“95% copper, 90% gold and 94.4% silver recovery through gravity, flotation and cyanidation”
Context: Au: 1.16 g/t Ag: 71 g/t Cu: 0.42%
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: A current resource fact retains the disclosed cut-off grade
Gravity Routeneutral
Gravity separation forms a material part of the flowsheet.
Why it applies: the document describes a gravity route ("gravity")
Multi-Domain Testedpositive
Variability across ore domains (oxide, transition, fresh) has been addressed.
Why it applies: 3 distinct composites were tested
Extracted facts
Stored fact records: 29. Some facts used in scoring do not have a stored record.
Resource Estimates (22)
indicatedGuayabales · goldTonnes: 22500000Grade: 1.02Grade Unit: g/tContained Metal: 0.74Contained Unit: mozView all detailsHide details
Identity
- Project
- Guayabales
- Commodity
- gold
- Region
- colombia
- Reported Region
- Caldas, Colombia
- Ticker
- CNL.TO
Resource scope
- Estimate type
- resource
- Effective date
- 2026-08-31T00:00:00.000Z
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Ned Jalil
- Resource group id
- resource:7d79156a335597043d5d
- Deposit or zone
- Open Pit (Shallow Halo Zone)
- Mining method
- open_pit
Resource Data
- Category
- indicated
- Tonnes
- 22500000
- Grade
- 1.02
- Grade Unit
- g/t
- Contained Metal
- 0.74
- Contained Unit
- moz
- Cutoff Grade
- 0.3
- Cutoff Unit
- g/t AuEq
Prior Estimate
- Resource Date
- 2026-08-31
Metal Equivalent
- Metal Eq. Grade
- 2.06
- Metal Eq. Unit
- g/t AuEq
- Assumptions Disclosed
- Yes
Lab
- Laboratory
- ALS Canada Ltd.
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-09-21T00:00:00.000Z
Reasoning: A substantial indicated gold resource in the open pit, forming a key part of the maiden resource estimate.
Positive factors
- Significant indicated gold resource in the open pit, contributing to project scale.
- Maiden resource estimate provides a new baseline for the project.
Evidence · table
“1.02”
Context: 22.5
Tags used in scoring
Indicated Resourcepositive
Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.
Why it applies: category is "indicated"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
indicatedGuayabales · silverTonnes: 22500000Grade: 30.2Grade Unit: g/tView all detailsHide details
Identity
- Project
- Guayabales
- Commodity
- silver
- Region
- colombia
- Reported Region
- Caldas, Colombia
- Ticker
- CNL.TO
Resource scope
- Estimate type
- resource
- Effective date
- 2026-08-31T00:00:00.000Z
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Ned Jalil
- Resource group id
- resource:7d79156a335597043d5d
- Deposit or zone
- Open Pit (Shallow Halo Zone)
- Mining method
- open_pit
Resource Data
- Category
- indicated
- Tonnes
- 22500000
- Grade
- 30.2
- Grade Unit
- g/t
- Cutoff Grade
- 0.3
- Cutoff Unit
- g/t AuEq
Prior Estimate
- Resource Date
- 2026-08-31
Metal Equivalent
- Metal Eq. Grade
- 2.06
- Metal Eq. Unit
- g/t AuEq
- Assumptions Disclosed
- Yes
Lab
- Laboratory
- ALS Canada Ltd.
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-09-21T00:00:00.000Z
Reasoning: A substantial indicated silver resource in the open pit, forming a key part of the maiden resource estimate.
Positive factors
- Significant indicated silver resource in the open pit, contributing to project scale.
- Maiden resource estimate provides a new baseline for the project.
Evidence · table
“30.2”
Context: 22.5
Tags used in scoring
Indicated Resourcepositive
Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.
Why it applies: category is "indicated"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
No Contained Metalnegative
Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.
Why it applies: contained_metal was not reported
indicatedGuayabales · copperTonnes: 22500000Grade: 0.2Grade Unit: %View all detailsHide details
Identity
- Project
- Guayabales
- Commodity
- copper
- Region
- colombia
- Reported Region
- Caldas, Colombia
- Ticker
- CNL.TO
Resource scope
- Estimate type
- resource
- Effective date
- 2026-08-31T00:00:00.000Z
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Ned Jalil
- Resource group id
- resource:7d79156a335597043d5d
- Deposit or zone
- Open Pit (Shallow Halo Zone)
- Mining method
- open_pit
Resource Data
- Category
- indicated
- Tonnes
- 22500000
- Grade
- 0.2
- Grade Unit
- %
- Cutoff Grade
- 0.3
- Cutoff Unit
- g/t AuEq
Prior Estimate
- Resource Date
- 2026-08-31
Metal Equivalent
- Metal Eq. Grade
- 2.06
- Metal Eq. Unit
- g/t AuEq
- Assumptions Disclosed
- Yes
Lab
- Laboratory
- ALS Canada Ltd.
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-09-21T00:00:00.000Z
Reasoning: An indicated copper resource in the open pit, adding to the polymetallic nature of the deposit in the maiden resource estimate.
Positive factors
- Indicated copper resource in the open pit, contributing to polymetallic potential.
- Maiden resource estimate provides a new baseline for the project.
Evidence · table
“0.20”
Context: 22.5
Tags used in scoring
Indicated Resourcepositive
Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.
Why it applies: category is "indicated"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
No Contained Metalnegative
Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.
Why it applies: contained_metal was not reported
indicatedGuayabales · wo3Tonnes: 22500000Grade: 0.015Grade Unit: %View all detailsHide details
Identity
- Project
- Guayabales
- Commodity
- wo3
- Region
- colombia
- Reported Region
- Caldas, Colombia
- Ticker
- CNL.TO
Resource scope
- Estimate type
- resource
- Effective date
- 2026-08-31T00:00:00.000Z
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Ned Jalil
- Resource group id
- resource:7d79156a335597043d5d
- Deposit or zone
- Open Pit (Shallow Halo Zone)
- Mining method
- open_pit
Resource Data
- Category
- indicated
- Tonnes
- 22500000
- Grade
- 0.015
- Grade Unit
- %
- Cutoff Grade
- 0.3
- Cutoff Unit
- g/t AuEq
Prior Estimate
- Resource Date
- 2026-08-31
Metal Equivalent
- Metal Eq. Grade
- 2.06
- Metal Eq. Unit
- g/t AuEq
- Assumptions Disclosed
- Yes
Lab
- Laboratory
- ALS Canada Ltd.
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-09-21T00:00:00.000Z
Reasoning: An indicated tungsten resource in the open pit, contributing to the polymetallic nature of the deposit in the maiden resource estimate.
Positive factors
- Indicated tungsten resource in the open pit, adding to polymetallic potential.
- Maiden resource estimate provides a new baseline for the project.
Evidence · table
“0.015”
Context: 22.5
Tags used in scoring
Indicated Resourcepositive
Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.
Why it applies: category is "indicated"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
No Contained Metalnegative
Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.
Why it applies: contained_metal was not reported
indicatedGuayabales · goldTonnes: 13200000Grade: 1.68Grade Unit: g/tContained Metal: 0.71Contained Unit: mozView all detailsHide details
Identity
- Project
- Guayabales
- Commodity
- gold
- Region
- colombia
- Reported Region
- Caldas, Colombia
- Ticker
- CNL.TO
Resource scope
- Estimate type
- resource
- Effective date
- 2026-08-31T00:00:00.000Z
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Ned Jalil
- Resource group id
- resource:10caab831866c971ca2d
- Deposit or zone
- Underground above 1,000 masl
- Mining method
- underground
Resource Data
- Category
- indicated
- Tonnes
- 13200000
- Grade
- 1.68
- Grade Unit
- g/t
- Contained Metal
- 0.71
- Contained Unit
- moz
- Cutoff Grade
- 1.2
- Cutoff Unit
- g/t AuEq
Prior Estimate
- Resource Date
- 2026-08-31
Metal Equivalent
- Metal Eq. Grade
- 2.1
- Metal Eq. Unit
- g/t AuEq
- Assumptions Disclosed
- Yes
Lab
- Laboratory
- ALS Canada Ltd.
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-09-21T00:00:00.000Z
Reasoning: A substantial indicated gold resource in the underground portion, contributing to the maiden resource estimate.
Positive factors
- Significant indicated gold resource in the underground portion, adding to project scale.
- Maiden resource estimate provides a new baseline for the project.
Evidence · table
“1.68”
Context: 13.2
Tags used in scoring
Indicated Resourcepositive
Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.
Why it applies: category is "indicated"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
indicatedGuayabales · silverTonnes: 13200000Grade: 15.9Grade Unit: g/tView all detailsHide details
Identity
- Project
- Guayabales
- Commodity
- silver
- Region
- colombia
- Reported Region
- Caldas, Colombia
- Ticker
- CNL.TO
Resource scope
- Estimate type
- resource
- Effective date
- 2026-08-31T00:00:00.000Z
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Ned Jalil
- Resource group id
- resource:10caab831866c971ca2d
- Deposit or zone
- Underground above 1,000 masl
- Mining method
- underground
Resource Data
- Category
- indicated
- Tonnes
- 13200000
- Grade
- 15.9
- Grade Unit
- g/t
- Cutoff Grade
- 1.2
- Cutoff Unit
- g/t AuEq
Prior Estimate
- Resource Date
- 2026-08-31
Metal Equivalent
- Metal Eq. Grade
- 2.1
- Metal Eq. Unit
- g/t AuEq
- Assumptions Disclosed
- Yes
Lab
- Laboratory
- ALS Canada Ltd.
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-09-21T00:00:00.000Z
Reasoning: An indicated silver resource in the underground portion, adding to the polymetallic nature of the deposit in the maiden resource estimate.
Positive factors
- Indicated silver resource in the underground portion, contributing to polymetallic potential.
- Maiden resource estimate provides a new baseline for the project.
Evidence · table
“15.9”
Context: 13.2
Tags used in scoring
Indicated Resourcepositive
Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.
Why it applies: category is "indicated"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
No Contained Metalnegative
Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.
Why it applies: contained_metal was not reported
indicatedGuayabales · copperTonnes: 13200000Grade: 0.06Grade Unit: %View all detailsHide details
Identity
- Project
- Guayabales
- Commodity
- copper
- Region
- colombia
- Reported Region
- Caldas, Colombia
- Ticker
- CNL.TO
Resource scope
- Estimate type
- resource
- Effective date
- 2026-08-31T00:00:00.000Z
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Ned Jalil
- Resource group id
- resource:10caab831866c971ca2d
- Deposit or zone
- Underground above 1,000 masl
- Mining method
- underground
Resource Data
- Category
- indicated
- Tonnes
- 13200000
- Grade
- 0.06
- Grade Unit
- %
- Cutoff Grade
- 1.2
- Cutoff Unit
- g/t AuEq
Prior Estimate
- Resource Date
- 2026-08-31
Metal Equivalent
- Metal Eq. Grade
- 2.1
- Metal Eq. Unit
- g/t AuEq
- Assumptions Disclosed
- Yes
Lab
- Laboratory
- ALS Canada Ltd.
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-09-21T00:00:00.000Z
Reasoning: An indicated copper resource in the underground portion, adding to the polymetallic nature of the deposit in the maiden resource estimate.
Positive factors
- Indicated copper resource in the underground portion, contributing to polymetallic potential.
- Maiden resource estimate provides a new baseline for the project.
Evidence · table
“0.06”
Context: 13.2
Tags used in scoring
Indicated Resourcepositive
Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.
Why it applies: category is "indicated"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
No Contained Metalnegative
Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.
Why it applies: contained_metal was not reported
indicatedGuayabales · wo3Tonnes: 13200000Grade: 0.003Grade Unit: %View all detailsHide details
Identity
- Project
- Guayabales
- Commodity
- wo3
- Region
- colombia
- Reported Region
- Caldas, Colombia
- Ticker
- CNL.TO
Resource scope
- Estimate type
- resource
- Effective date
- 2026-08-31T00:00:00.000Z
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Ned Jalil
- Resource group id
- resource:10caab831866c971ca2d
- Deposit or zone
- Underground above 1,000 masl
- Mining method
- underground
Resource Data
- Category
- indicated
- Tonnes
- 13200000
- Grade
- 0.003
- Grade Unit
- %
- Cutoff Grade
- 1.2
- Cutoff Unit
- g/t AuEq
Prior Estimate
- Resource Date
- 2026-08-31
Metal Equivalent
- Metal Eq. Grade
- 2.1
- Metal Eq. Unit
- g/t AuEq
- Assumptions Disclosed
- Yes
Lab
- Laboratory
- ALS Canada Ltd.
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-09-21T00:00:00.000Z
Reasoning: An indicated tungsten resource in the underground portion, adding to the polymetallic nature of the deposit in the maiden resource estimate.
Positive factors
- Indicated tungsten resource in the underground portion, contributing to polymetallic potential.
- Maiden resource estimate provides a new baseline for the project.
Evidence · table
“0.003”
Context: 13.2
Tags used in scoring
Indicated Resourcepositive
Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.
Why it applies: category is "indicated"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
No Contained Metalnegative
Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.
Why it applies: contained_metal was not reported
indicatedGuayabales · goldTonnes: 1290000Grade: 4.52Grade Unit: g/tContained Metal: 0.19Contained Unit: mozView all detailsHide details
Identity
- Project
- Guayabales
- Commodity
- gold
- Region
- colombia
- Reported Region
- Caldas, Colombia
- Ticker
- CNL.TO
Resource scope
- Estimate type
- resource
- Effective date
- 2026-08-31T00:00:00.000Z
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Ned Jalil
- Resource group id
- resource:e2fe7806fd663f679aa0
- Deposit or zone
- Underground below 1,000 masl (Ramp Zone)
- Mining method
- underground
Resource Data
- Category
- indicated
- Tonnes
- 1290000
- Grade
- 4.52
- Grade Unit
- g/t
- Contained Metal
- 0.19
- Contained Unit
- moz
- Cutoff Grade
- 1.5
- Cutoff Unit
- g/t AuEq
Prior Estimate
- Resource Date
- 2026-08-31
Metal Equivalent
- Metal Eq. Grade
- 4.74
- Metal Eq. Unit
- g/t AuEq
- Assumptions Disclosed
- Yes
Lab
- Laboratory
- ALS Canada Ltd.
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-09-21T00:00:00.000Z
Reasoning: A high-grade indicated gold resource in the underground Ramp Zone, contributing to the maiden resource estimate.
Positive factors
- High-grade indicated gold resource in the underground Ramp Zone, indicating potential for selective mining.
- Maiden resource estimate provides a new baseline for the project.
Evidence · table
“4.52”
Context: 1.29
Tags used in scoring
Indicated Resourcepositive
Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.
Why it applies: category is "indicated"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
indicatedGuayabales · silverTonnes: 1290000Grade: 9.85Grade Unit: g/tView all detailsHide details
Identity
- Project
- Guayabales
- Commodity
- silver
- Region
- colombia
- Reported Region
- Caldas, Colombia
- Ticker
- CNL.TO
Resource scope
- Estimate type
- resource
- Effective date
- 2026-08-31T00:00:00.000Z
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Ned Jalil
- Resource group id
- resource:e2fe7806fd663f679aa0
- Deposit or zone
- Underground below 1,000 masl (Ramp Zone)
- Mining method
- underground
Resource Data
- Category
- indicated
- Tonnes
- 1290000
- Grade
- 9.85
- Grade Unit
- g/t
- Cutoff Grade
- 1.5
- Cutoff Unit
- g/t AuEq
Prior Estimate
- Resource Date
- 2026-08-31
Metal Equivalent
- Metal Eq. Grade
- 4.74
- Metal Eq. Unit
- g/t AuEq
- Assumptions Disclosed
- Yes
Lab
- Laboratory
- ALS Canada Ltd.
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-09-21T00:00:00.000Z
Reasoning: An indicated silver resource in the underground Ramp Zone, adding to the polymetallic nature of the deposit in the maiden resource estimate.
Positive factors
- Indicated silver resource in the underground Ramp Zone, contributing to polymetallic potential.
- Maiden resource estimate provides a new baseline for the project.
Evidence · table
“9.85”
Context: 1.29
Tags used in scoring
Indicated Resourcepositive
Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.
Why it applies: category is "indicated"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
No Contained Metalnegative
Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.
Why it applies: contained_metal was not reported
indicatedGuayabales · copperTonnes: 1290000Grade: 0.03Grade Unit: %View all detailsHide details
Identity
- Project
- Guayabales
- Commodity
- copper
- Region
- colombia
- Reported Region
- Caldas, Colombia
- Ticker
- CNL.TO
Resource scope
- Estimate type
- resource
- Effective date
- 2026-08-31T00:00:00.000Z
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Ned Jalil
- Resource group id
- resource:e2fe7806fd663f679aa0
- Deposit or zone
- Underground below 1,000 masl (Ramp Zone)
- Mining method
- underground
Resource Data
- Category
- indicated
- Tonnes
- 1290000
- Grade
- 0.03
- Grade Unit
- %
- Cutoff Grade
- 1.5
- Cutoff Unit
- g/t AuEq
Prior Estimate
- Resource Date
- 2026-08-31
Metal Equivalent
- Metal Eq. Grade
- 4.74
- Metal Eq. Unit
- g/t AuEq
- Assumptions Disclosed
- Yes
Lab
- Laboratory
- ALS Canada Ltd.
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-09-21T00:00:00.000Z
Reasoning: An indicated copper resource in the underground Ramp Zone, adding to the polymetallic nature of the deposit in the maiden resource estimate.
Positive factors
- Indicated copper resource in the underground Ramp Zone, contributing to polymetallic potential.
- Maiden resource estimate provides a new baseline for the project.
Evidence · table
“0.03”
Context: 1.29
Tags used in scoring
Indicated Resourcepositive
Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.
Why it applies: category is "indicated"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
No Contained Metalnegative
Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.
Why it applies: contained_metal was not reported
inferredGuayabales · goldTonnes: 25900000Grade: 0.6Grade Unit: g/tContained Metal: 0.5Contained Unit: mozView all detailsHide details
Identity
- Project
- Guayabales
- Commodity
- gold
- Region
- colombia
- Reported Region
- Caldas, Colombia
- Ticker
- CNL.TO
Resource scope
- Estimate type
- resource
- Effective date
- 2026-08-31T00:00:00.000Z
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Ned Jalil
- Resource group id
- resource:f06f27c653372a30c2e4
- Deposit or zone
- Open Pit (Shallow Halo Zone)
- Mining method
- open_pit
Resource Data
- Category
- inferred
- Tonnes
- 25900000
- Grade
- 0.6
- Grade Unit
- g/t
- Contained Metal
- 0.5
- Contained Unit
- moz
- Cutoff Grade
- 0.3
- Cutoff Unit
- g/t AuEq
Prior Estimate
- Resource Date
- 2026-08-31
Metal Equivalent
- Metal Eq. Grade
- 0.86
- Metal Eq. Unit
- g/t AuEq
- Assumptions Disclosed
- Yes
Lab
- Laboratory
- ALS Canada Ltd.
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-09-21T00:00:00.000Z
Reasoning: A substantial inferred gold resource in the open pit, providing exploration potential, but with lower confidence due to its category.
Positive factors
- Significant inferred gold resource in the open pit, indicating exploration upside.
- Maiden resource estimate provides a new baseline for the project.
Negative factors
- Inferred category has lower geological confidence.
Evidence · table
“0.60”
Context: 25.9
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: category is "inferred"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
inferredGuayabales · silverTonnes: 25900000Grade: 8.98Grade Unit: g/tView all detailsHide details
Identity
- Project
- Guayabales
- Commodity
- silver
- Region
- colombia
- Reported Region
- Caldas, Colombia
- Ticker
- CNL.TO
Resource scope
- Estimate type
- resource
- Effective date
- 2026-08-31T00:00:00.000Z
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Ned Jalil
- Resource group id
- resource:f06f27c653372a30c2e4
- Deposit or zone
- Open Pit (Shallow Halo Zone)
- Mining method
- open_pit
Resource Data
- Category
- inferred
- Tonnes
- 25900000
- Grade
- 8.98
- Grade Unit
- g/t
- Cutoff Grade
- 0.3
- Cutoff Unit
- g/t AuEq
Prior Estimate
- Resource Date
- 2026-08-31
Metal Equivalent
- Metal Eq. Grade
- 0.86
- Metal Eq. Unit
- g/t AuEq
- Assumptions Disclosed
- Yes
Lab
- Laboratory
- ALS Canada Ltd.
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-09-21T00:00:00.000Z
Reasoning: An inferred silver resource in the open pit, providing exploration potential, but with lower confidence due to its category.
Positive factors
- Inferred silver resource in the open pit, indicating exploration upside.
- Maiden resource estimate provides a new baseline for the project.
Negative factors
- Inferred category has lower geological confidence.
Evidence · table
“8.98”
Context: 25.9
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: category is "inferred"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
No Contained Metalnegative
Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.
Why it applies: contained_metal was not reported
inferredGuayabales · copperTonnes: 25900000Grade: 0.03Grade Unit: %View all detailsHide details
Identity
- Project
- Guayabales
- Commodity
- copper
- Region
- colombia
- Reported Region
- Caldas, Colombia
- Ticker
- CNL.TO
Resource scope
- Estimate type
- resource
- Effective date
- 2026-08-31T00:00:00.000Z
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Ned Jalil
- Resource group id
- resource:f06f27c653372a30c2e4
- Deposit or zone
- Open Pit (Shallow Halo Zone)
- Mining method
- open_pit
Resource Data
- Category
- inferred
- Tonnes
- 25900000
- Grade
- 0.03
- Grade Unit
- %
- Cutoff Grade
- 0.3
- Cutoff Unit
- g/t AuEq
Prior Estimate
- Resource Date
- 2026-08-31
Metal Equivalent
- Metal Eq. Grade
- 0.86
- Metal Eq. Unit
- g/t AuEq
- Assumptions Disclosed
- Yes
Lab
- Laboratory
- ALS Canada Ltd.
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-09-21T00:00:00.000Z
Reasoning: An inferred copper resource in the open pit, adding to the polymetallic nature of the deposit, but with lower confidence due to its category.
Positive factors
- Inferred copper resource in the open pit, contributing to polymetallic potential.
- Maiden resource estimate provides a new baseline for the project.
Negative factors
- Inferred category has lower geological confidence.
Evidence · table
“0.03”
Context: 25.9
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: category is "inferred"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
No Contained Metalnegative
Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.
Why it applies: contained_metal was not reported
inferredGuayabales · wo3Tonnes: 25900000Grade: 0.003Grade Unit: %View all detailsHide details
Identity
- Project
- Guayabales
- Commodity
- wo3
- Region
- colombia
- Reported Region
- Caldas, Colombia
- Ticker
- CNL.TO
Resource scope
- Estimate type
- resource
- Effective date
- 2026-08-31T00:00:00.000Z
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Ned Jalil
- Resource group id
- resource:f06f27c653372a30c2e4
- Deposit or zone
- Open Pit (Shallow Halo Zone)
- Mining method
- open_pit
Resource Data
- Category
- inferred
- Tonnes
- 25900000
- Grade
- 0.003
- Grade Unit
- %
- Cutoff Grade
- 0.3
- Cutoff Unit
- g/t AuEq
Prior Estimate
- Resource Date
- 2026-08-31
Metal Equivalent
- Metal Eq. Grade
- 0.86
- Metal Eq. Unit
- g/t AuEq
- Assumptions Disclosed
- Yes
Lab
- Laboratory
- ALS Canada Ltd.
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-09-21T00:00:00.000Z
Reasoning: An inferred tungsten resource in the open pit, adding to the polymetallic nature of the deposit, but with lower confidence due to its category.
Positive factors
- Inferred tungsten resource in the open pit, contributing to polymetallic potential.
- Maiden resource estimate provides a new baseline for the project.
Negative factors
- Inferred category has lower geological confidence.
Evidence · table
“0.003”
Context: 25.9
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: category is "inferred"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
No Contained Metalnegative
Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.
Why it applies: contained_metal was not reported
inferredGuayabales · goldTonnes: 16200000Grade: 1.84Grade Unit: g/tContained Metal: 0.96Contained Unit: mozView all detailsHide details
Identity
- Project
- Guayabales
- Commodity
- gold
- Region
- colombia
- Reported Region
- Caldas, Colombia
- Ticker
- CNL.TO
Resource scope
- Estimate type
- resource
- Effective date
- 2026-08-31T00:00:00.000Z
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Ned Jalil
- Resource group id
- resource:caa4fa3147f3c111ae03
- Deposit or zone
- Underground above 1,000 masl
- Mining method
- underground
Resource Data
- Category
- inferred
- Tonnes
- 16200000
- Grade
- 1.84
- Grade Unit
- g/t
- Contained Metal
- 0.96
- Contained Unit
- moz
- Cutoff Grade
- 1.2
- Cutoff Unit
- g/t AuEq
Prior Estimate
- Resource Date
- 2026-08-31
Metal Equivalent
- Metal Eq. Grade
- 2.06
- Metal Eq. Unit
- g/t AuEq
- Assumptions Disclosed
- Yes
Lab
- Laboratory
- ALS Canada Ltd.
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-09-21T00:00:00.000Z
Reasoning: A substantial inferred gold resource in the underground portion, providing exploration potential, but with lower confidence due to its category.
Positive factors
- Significant inferred gold resource in the underground portion, indicating exploration upside.
- Maiden resource estimate provides a new baseline for the project.
Negative factors
- Inferred category has lower geological confidence.
Evidence · table
“1.84”
Context: 16.2
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: category is "inferred"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
inferredGuayabales · silverTonnes: 16200000Grade: 7.69Grade Unit: g/tView all detailsHide details
Identity
- Project
- Guayabales
- Commodity
- silver
- Region
- colombia
- Reported Region
- Caldas, Colombia
- Ticker
- CNL.TO
Resource scope
- Estimate type
- resource
- Effective date
- 2026-08-31T00:00:00.000Z
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Ned Jalil
- Resource group id
- resource:caa4fa3147f3c111ae03
- Deposit or zone
- Underground above 1,000 masl
- Mining method
- underground
Resource Data
- Category
- inferred
- Tonnes
- 16200000
- Grade
- 7.69
- Grade Unit
- g/t
- Cutoff Grade
- 1.2
- Cutoff Unit
- g/t AuEq
Prior Estimate
- Resource Date
- 2026-08-31
Metal Equivalent
- Metal Eq. Grade
- 2.06
- Metal Eq. Unit
- g/t AuEq
- Assumptions Disclosed
- Yes
Lab
- Laboratory
- ALS Canada Ltd.
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-09-21T00:00:00.000Z
Reasoning: An inferred silver resource in the underground portion, adding to the polymetallic nature of the deposit, but with lower confidence due to its category.
Positive factors
- Inferred silver resource in the underground portion, contributing to polymetallic potential.
- Maiden resource estimate provides a new baseline for the project.
Negative factors
- Inferred category has lower geological confidence.
Evidence · table
“7.69”
Context: 16.2
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: category is "inferred"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
No Contained Metalnegative
Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.
Why it applies: contained_metal was not reported
inferredGuayabales · copperTonnes: 16200000Grade: 0.03Grade Unit: %View all detailsHide details
Identity
- Project
- Guayabales
- Commodity
- copper
- Region
- colombia
- Reported Region
- Caldas, Colombia
- Ticker
- CNL.TO
Resource scope
- Estimate type
- resource
- Effective date
- 2026-08-31T00:00:00.000Z
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Ned Jalil
- Resource group id
- resource:caa4fa3147f3c111ae03
- Deposit or zone
- Underground above 1,000 masl
- Mining method
- underground
Resource Data
- Category
- inferred
- Tonnes
- 16200000
- Grade
- 0.03
- Grade Unit
- %
- Cutoff Grade
- 1.2
- Cutoff Unit
- g/t AuEq
Prior Estimate
- Resource Date
- 2026-08-31
Metal Equivalent
- Metal Eq. Grade
- 2.06
- Metal Eq. Unit
- g/t AuEq
- Assumptions Disclosed
- Yes
Lab
- Laboratory
- ALS Canada Ltd.
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-09-21T00:00:00.000Z
Reasoning: An inferred copper resource in the underground portion, adding to the polymetallic nature of the deposit, but with lower confidence due to its category.
Positive factors
- Inferred copper resource in the underground portion, contributing to polymetallic potential.
- Maiden resource estimate provides a new baseline for the project.
Negative factors
- Inferred category has lower geological confidence.
Evidence · table
“0.03”
Context: 16.2
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: category is "inferred"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
No Contained Metalnegative
Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.
Why it applies: contained_metal was not reported
inferredGuayabales · wo3Tonnes: 16200000Grade: 0.002Grade Unit: %View all detailsHide details
Identity
- Project
- Guayabales
- Commodity
- wo3
- Region
- colombia
- Reported Region
- Caldas, Colombia
- Ticker
- CNL.TO
Resource scope
- Estimate type
- resource
- Effective date
- 2026-08-31T00:00:00.000Z
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Ned Jalil
- Resource group id
- resource:caa4fa3147f3c111ae03
- Deposit or zone
- Underground above 1,000 masl
- Mining method
- underground
Resource Data
- Category
- inferred
- Tonnes
- 16200000
- Grade
- 0.002
- Grade Unit
- %
- Cutoff Grade
- 1.2
- Cutoff Unit
- g/t AuEq
Prior Estimate
- Resource Date
- 2026-08-31
Metal Equivalent
- Metal Eq. Grade
- 2.06
- Metal Eq. Unit
- g/t AuEq
- Assumptions Disclosed
- Yes
Lab
- Laboratory
- ALS Canada Ltd.
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-09-21T00:00:00.000Z
Reasoning: An inferred tungsten resource in the underground portion, adding to the polymetallic nature of the deposit, but with lower confidence due to its category.
Positive factors
- Inferred tungsten resource in the underground portion, contributing to polymetallic potential.
- Maiden resource estimate provides a new baseline for the project.
Negative factors
- Inferred category has lower geological confidence.
Evidence · table
“0.002”
Context: 16.2
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: category is "inferred"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
No Contained Metalnegative
Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.
Why it applies: contained_metal was not reported
inferredGuayabales · goldTonnes: 6040000Grade: 5.2Grade Unit: g/tContained Metal: 1.01Contained Unit: mozView all detailsHide details
Identity
- Project
- Guayabales
- Commodity
- gold
- Region
- colombia
- Reported Region
- Caldas, Colombia
- Ticker
- CNL.TO
Resource scope
- Estimate type
- resource
- Effective date
- 2026-08-31T00:00:00.000Z
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Ned Jalil
- Resource group id
- resource:1d13622138856ec08b90
- Deposit or zone
- Underground below 1,000 masl (Ramp Zone)
- Mining method
- underground
Resource Data
- Category
- inferred
- Tonnes
- 6040000
- Grade
- 5.2
- Grade Unit
- g/t
- Contained Metal
- 1.01
- Contained Unit
- moz
- Cutoff Grade
- 1.5
- Cutoff Unit
- g/t AuEq
Prior Estimate
- Resource Date
- 2026-08-31
Metal Equivalent
- Metal Eq. Grade
- 5.37
- Metal Eq. Unit
- g/t AuEq
- Assumptions Disclosed
- Yes
Lab
- Laboratory
- ALS Canada Ltd.
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-09-21T00:00:00.000Z
Reasoning: A high-grade inferred gold resource in the underground Ramp Zone, providing exploration potential for selective mining, but with lower confidence due to its category.
Positive factors
- High-grade inferred gold resource in the underground Ramp Zone, indicating exploration upside for selective mining.
- Maiden resource estimate provides a new baseline for the project.
Negative factors
- Inferred category has lower geological confidence.
Evidence · table
“5.20”
Context: 6.04
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: category is "inferred"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
inferredGuayabales · silverTonnes: 6040000Grade: 7.72Grade Unit: g/tView all detailsHide details
Identity
- Project
- Guayabales
- Commodity
- silver
- Region
- colombia
- Reported Region
- Caldas, Colombia
- Ticker
- CNL.TO
Resource scope
- Estimate type
- resource
- Effective date
- 2026-08-31T00:00:00.000Z
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Ned Jalil
- Resource group id
- resource:1d13622138856ec08b90
- Deposit or zone
- Underground below 1,000 masl (Ramp Zone)
- Mining method
- underground
Resource Data
- Category
- inferred
- Tonnes
- 6040000
- Grade
- 7.72
- Grade Unit
- g/t
- Cutoff Grade
- 1.5
- Cutoff Unit
- g/t AuEq
Prior Estimate
- Resource Date
- 2026-08-31
Metal Equivalent
- Metal Eq. Grade
- 5.37
- Metal Eq. Unit
- g/t AuEq
- Assumptions Disclosed
- Yes
Lab
- Laboratory
- ALS Canada Ltd.
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-09-21T00:00:00.000Z
Reasoning: An inferred silver resource in the underground Ramp Zone, adding to the polymetallic nature of the deposit, but with lower confidence due to its category.
Positive factors
- Inferred silver resource in the underground Ramp Zone, contributing to polymetallic potential.
- Maiden resource estimate provides a new baseline for the project.
Negative factors
- Inferred category has lower geological confidence.
Evidence · table
“7.72”
Context: 6.04
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: category is "inferred"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
No Contained Metalnegative
Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.
Why it applies: contained_metal was not reported
inferredGuayabales · copperTonnes: 6040000Grade: 0.02Grade Unit: %View all detailsHide details
Identity
- Project
- Guayabales
- Commodity
- copper
- Region
- colombia
- Reported Region
- Caldas, Colombia
- Ticker
- CNL.TO
Resource scope
- Estimate type
- resource
- Effective date
- 2026-08-31T00:00:00.000Z
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Ned Jalil
- Resource group id
- resource:1d13622138856ec08b90
- Deposit or zone
- Underground below 1,000 masl (Ramp Zone)
- Mining method
- underground
Resource Data
- Category
- inferred
- Tonnes
- 6040000
- Grade
- 0.02
- Grade Unit
- %
- Cutoff Grade
- 1.5
- Cutoff Unit
- g/t AuEq
Prior Estimate
- Resource Date
- 2026-08-31
Metal Equivalent
- Metal Eq. Grade
- 5.37
- Metal Eq. Unit
- g/t AuEq
- Assumptions Disclosed
- Yes
Lab
- Laboratory
- ALS Canada Ltd.
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-09-21T00:00:00.000Z
Reasoning: An inferred copper resource in the underground Ramp Zone, adding to the polymetallic nature of the deposit, but with lower confidence due to its category.
Positive factors
- Inferred copper resource in the underground Ramp Zone, contributing to polymetallic potential.
- Maiden resource estimate provides a new baseline for the project.
Negative factors
- Inferred category has lower geological confidence.
Evidence · table
“0.02”
Context: 6.04
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: category is "inferred"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
No Contained Metalnegative
Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.
Why it applies: contained_metal was not reported
Metallurgical Results (7)
locked-cycleGuayabales · goldRecovery: 95 %Head Grade: 1.4Head Grade Unit: g/tHistorical resultNeeds review: historical_restatementView all detailsHide details
Identity
- Project
- Guayabales
- Commodity
- gold
- Region
- colombia
- Reported Region
- Caldas, Colombia
- Ticker
- CNL.TO
Test Work
- Program Status
- detailed
- Test Type
- locked-cycle
- Processing Route
- conventional processing methods (cyanidation)
- Sample
- Apollo master composite
Recovery
- Recovery
- 95 %
- Recovery Basis
- actual_test
- Head Grade
- 1.4
- Head Grade Unit
- g/t
Reagents
- Cyanide
- 0.57 kg/t
Lab
- Laboratory
- ALS Canada Ltd.
Review
- Needs Review
- Yes
- Review Reason
- historical_restatement
- Historical
- Yes
- Historical Source Date
- 2026-08-25T00:00:00.000Z
Dates
- Event date
- 2026-09-21T00:00:00.000Z
Reasoning: The gold recovery is exceptional for conventional processing, supported by a strong test scale and low reagent consumption, though the result is historical.
Positive factors
- Exceptional gold recovery of 95% using conventional methods.
- Low cyanide consumption of 0.57 kg/t, indicating efficient processing.
- Locked-cycle testing represents a strong test scale maturity.
Negative factors
- The result is historical, having been disclosed in August 2026.
Evidence · table
“95% gold”
Context: Au: 1.4 g/t Ag: 20 g/t Cu: 0.08%
Tags used in scoring
Mill Routeneutral
Processing via mill or concentrator (CIL, CIP, tank leach, flotation).
Why it applies: processing_route matches the flotation signal
High Recoverypositive
Recovery at or above the exceptional band for the commodity and processing route.
Why it applies: 95% is at or above the exceptional band (95%)
locked-cycleGuayabales · silverRecovery: 92 %Head Grade: 20Head Grade Unit: g/tHistorical resultNeeds review: historical_restatementView all detailsHide details
Identity
- Project
- Guayabales
- Commodity
- silver
- Region
- colombia
- Reported Region
- Caldas, Colombia
- Ticker
- CNL.TO
Test Work
- Program Status
- detailed
- Test Type
- locked-cycle
- Processing Route
- conventional processing methods (cyanidation)
- Sample
- Apollo master composite
Recovery
- Recovery
- 92 %
- Recovery Basis
- actual_test
- Head Grade
- 20
- Head Grade Unit
- g/t
Reagents
- Cyanide
- 0.57 kg/t
Lab
- Laboratory
- ALS Canada Ltd.
Review
- Needs Review
- Yes
- Review Reason
- historical_restatement
- Historical
- Yes
- Historical Source Date
- 2026-08-25T00:00:00.000Z
Dates
- Event date
- 2026-09-21T00:00:00.000Z
Reasoning: The silver recovery is strong for conventional processing, supported by a strong test scale, though the result is historical.
Positive factors
- Strong silver recovery of 92% using conventional methods.
- Locked-cycle testing represents a strong test scale maturity.
Negative factors
- The result is historical, having been disclosed in August 2026.
Evidence · table
“92% silver”
Context: Au: 1.4 g/t Ag: 20 g/t Cu: 0.08%
Tags used in scoring
Mill Routeneutral
Processing via mill or concentrator (CIL, CIP, tank leach, flotation).
Why it applies: processing_route matches the flotation signal
High Recoverypositive
Recovery at or above the exceptional band for the commodity and processing route.
Why it applies: 92% is at or above the exceptional band (90%)
locked-cycleGuayabales · copperRecovery: 85 %Head Grade: 0.08Head Grade Unit: %Historical resultNeeds review: historical_restatementView all detailsHide details
Identity
- Project
- Guayabales
- Commodity
- copper
- Region
- colombia
- Reported Region
- Caldas, Colombia
- Ticker
- CNL.TO
Test Work
- Program Status
- detailed
- Test Type
- locked-cycle
- Processing Route
- conventional processing methods
- Sample
- Apollo master composite
Recovery
- Recovery
- 85 %
- Recovery Basis
- actual_test
- Head Grade
- 0.08
- Head Grade Unit
- %
Reagents
- Cyanide
- 0.57 kg/t
Lab
- Laboratory
- ALS Canada Ltd.
Review
- Needs Review
- Yes
- Review Reason
- historical_restatement
- Historical
- Yes
- Historical Source Date
- 2026-08-25T00:00:00.000Z
Dates
- Event date
- 2026-09-21T00:00:00.000Z
Reasoning: The copper recovery is moderate for conventional processing, supported by a strong test scale, though the result is historical.
Positive factors
- Moderate copper recovery of 85% using conventional methods.
- Locked-cycle testing represents a strong test scale maturity.
Negative factors
- The result is historical, having been disclosed in August 2026.
Evidence · table
“85% copper recovery”
Context: Au: 1.4 g/t Ag: 20 g/t Cu: 0.08%
Tags used in scoring
Mill Routeneutral
Processing via mill or concentrator (CIL, CIP, tank leach, flotation).
Why it applies: processing_route matches the flotation signal
flotationGuayabales · copperRecovery: 95 %Head Grade: 0.42Head Grade Unit: %View all detailsHide details
Identity
- Project
- Guayabales
- Commodity
- copper
- Region
- colombia
- Reported Region
- Caldas, Colombia
- Ticker
- CNL.TO
Test Work
- Program Status
- preliminary
- Test Type
- flotation
- Processing Route
- gravity, flotation and cyanidation
- Sample
- Copper sub-domain composite
Recovery
- Recovery
- 95 %
- Recovery Basis
- actual_test
- Head Grade
- 0.42
- Head Grade Unit
- %
- Conc. Grade
- 27.2
- Conc. Grade Unit
- %
Lab
- Laboratory
- ALS Canada Ltd.
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-09-21T00:00:00.000Z
Reasoning: Exceptional copper recovery and high concentrate grade from new test work on a specific sub-domain, indicating strong potential for this processing route.
Positive factors
- Exceptional copper recovery of 95% through a combined gravity, flotation, and cyanidation route.
- High concentrate grade of 27.2% Cu, indicating good concentrate quality.
- New test results, adding novel information to the project's metallurgical understanding.
Negative factors
- Open-circuit testing is a moderate test scale, not yet locked-cycle or pilot.
Evidence · table
“95% copper”
Context: Au: 1.16 g/t Ag: 71 g/t Cu: 0.42%
Tags used in scoring
Mill Routeneutral
Processing via mill or concentrator (CIL, CIP, tank leach, flotation).
Why it applies: processing_route matches the flotation signal
Gravity Routeneutral
Gravity separation forms a material part of the flowsheet.
Why it applies: processing_route matches the gravity signal
High Recoverypositive
Recovery at or above the exceptional band for the commodity and processing route.
Why it applies: 95% is at or above the exceptional band (92%)
flotationGuayabales · goldRecovery: 90 %Head Grade: 1.16Head Grade Unit: g/tView all detailsHide details
Identity
- Project
- Guayabales
- Commodity
- gold
- Region
- colombia
- Reported Region
- Caldas, Colombia
- Ticker
- CNL.TO
Test Work
- Program Status
- preliminary
- Test Type
- flotation
- Processing Route
- gravity, flotation and cyanidation
- Sample
- Copper sub-domain composite
Recovery
- Recovery
- 90 %
- Recovery Basis
- actual_test
- Head Grade
- 1.16
- Head Grade Unit
- g/t
- Conc. Grade
- 37.6
- Conc. Grade Unit
- g/t
Lab
- Laboratory
- ALS Canada Ltd.
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-09-21T00:00:00.000Z
Reasoning: Strong gold recovery from new test work on a specific sub-domain, indicating good potential for this processing route.
Positive factors
- Strong gold recovery of 90% through a combined gravity, flotation, and cyanidation route.
- New test results, adding novel information to the project's metallurgical understanding.
Negative factors
- Open-circuit testing is a moderate test scale, not yet locked-cycle or pilot.
Evidence · table
“90% gold”
Context: Au: 1.16 g/t Ag: 71 g/t Cu: 0.42%
Tags used in scoring
Mill Routeneutral
Processing via mill or concentrator (CIL, CIP, tank leach, flotation).
Why it applies: processing_route matches the flotation signal
Gravity Routeneutral
Gravity separation forms a material part of the flowsheet.
Why it applies: processing_route matches the gravity signal
flotationGuayabales · silverRecovery: 94.4 %Head Grade: 71Head Grade Unit: g/tView all detailsHide details
Identity
- Project
- Guayabales
- Commodity
- silver
- Region
- colombia
- Reported Region
- Caldas, Colombia
- Ticker
- CNL.TO
Test Work
- Program Status
- preliminary
- Test Type
- flotation
- Processing Route
- gravity, flotation and cyanidation
- Sample
- Copper sub-domain composite
Recovery
- Recovery
- 94.4 %
- Recovery Basis
- actual_test
- Head Grade
- 71
- Head Grade Unit
- g/t
- Conc. Grade
- 3504
- Conc. Grade Unit
- g/t
Lab
- Laboratory
- ALS Canada Ltd.
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-09-21T00:00:00.000Z
Reasoning: Exceptional silver recovery and high concentrate grade from new test work on a specific sub-domain, indicating strong potential for this processing route.
Positive factors
- Exceptional silver recovery of 94.4% through a combined gravity, flotation, and cyanidation route.
- High concentrate grade of 3,504 g/t Ag, indicating good concentrate quality.
- New test results, adding novel information to the project's metallurgical understanding.
Negative factors
- Open-circuit testing is a moderate test scale, not yet locked-cycle or pilot.
Evidence · table
“94.4% silver recovery”
Context: Au: 1.16 g/t Ag: 71 g/t Cu: 0.42%
Tags used in scoring
Mill Routeneutral
Processing via mill or concentrator (CIL, CIP, tank leach, flotation).
Why it applies: processing_route matches the flotation signal
Gravity Routeneutral
Gravity separation forms a material part of the flowsheet.
Why it applies: processing_route matches the gravity signal
High Recoverypositive
Recovery at or above the exceptional band for the commodity and processing route.
Why it applies: 94.4% is at or above the exceptional band (90%)
gravity, flotationGuayabales · tungstenRecovery: 74 %Head Grade: 0.44Head Grade Unit: %View all detailsHide details
Identity
- Project
- Guayabales
- Commodity
- tungsten
- Region
- colombia
- Reported Region
- Caldas, Colombia
- Ticker
- CNL.TO
Test Work
- Program Status
- preliminary
- Test Type
- gravity, flotation
- Processing Route
- gravity concentration and flotation
- Sample
- Tungsten sub-domain composite
Recovery
- Recovery
- 74 %
- Recovery Basis
- actual_test
- Head Grade
- 0.44
- Head Grade Unit
- %
Lab
- Laboratory
- ALS Canada Ltd.
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-09-21T00:00:00.000Z
Reasoning: Moderate tungsten recovery from new test work on a specific sub-domain, indicating a viable processing route, though the test scale and variability are not fully detailed.
Positive factors
- Moderate tungsten recovery of up to 74% through gravity and flotation.
- New test results, adding novel information to the project's metallurgical understanding.
Negative factors
- The test scale is not explicitly stated beyond 'test work', suggesting it might be bench-scale.
- The 'up to 74%' implies variability or a best-case scenario.
Evidence · table
“Tungsten recovery through gravity and flotation of up to 74%.”
Context: Au: 2.91 g/t Ag: 26.4 g/t Cu: 0.15% WO3: 0.44%
Tags used in scoring
Mill Routeneutral
Processing via mill or concentrator (CIL, CIP, tank leach, flotation).
Why it applies: processing_route matches the flotation signal
Gravity Routeneutral
Gravity separation forms a material part of the flowsheet.
Why it applies: processing_route matches the gravity signal
How Atlas produces this analysis
Minestarters Atlas uses automated extraction to summarize mining announcements, identify reported measurements, and classify supporting evidence. Sentiment reflects the extracted narrative and classification rules; it is an interpretation, not a reported measurement. Evidence quotes and context are provided where available. Missing data, low-confidence results, and review flags indicate limitations. Check the original publisher announcement before relying on an interpretation.