Collective Mining Highlights Strong Copper and Tungsten Metallurgical Results; Advances Apollo Flowsheet for 2027 Licensing Submission
Original announcement by cnw on
- Company
- Collective Mining Ltd.
- Ticker
- CNL
- Exchange
- Unavailable
- Region
- Caldas, Colombia
- Primary commodity
- Gold
- Secondary commodities
- Silver, Copper, Tungsten
- Document categories
- Resource update, Metallurgy
- Extracted
- 2026-09-21 10:49:58 UTC
Analysis by Minestarters Atlas
Atlas analysis published:
Minestarters Atlas analysis
Summary
Collective Mining announced strong metallurgical test results for its Apollo project, demonstrating high recoveries for gold (90-95%), silver (92-94.4%), copper (85-95%), and tungsten (up to 74%) using conventional processing methods. These results support an integrated dual-route flowsheet for gold-silver doré and separate copper and tungsten concentrates. The company also presented its maiden mineral resource estimate for Apollo, effective August 31, 2026, outlining 37.0 Mt Indicated and 48.2 Mt Inferred resources containing significant gold, silver, copper, and tungsten.
Reasoning: Collective Mining announced new metallurgical test results demonstrating improved recoveries for copper and silver from specific sub-domains, and good tungsten recovery, which validates a multi-product processing strategy. This is coupled with a maiden mineral resource estimate for the Apollo project, providing a comprehensive initial assessment of the deposit.
Positive factors
- High recoveries for all key metals (gold, silver, copper, tungsten)
- Improved copper and silver recoveries from specific sub-domains compared to prior master composite results
- Low cyanide consumption for gold-silver processing
- Production of high-grade copper and silver concentrates
- Maiden mineral resource estimate provides a foundational understanding of the deposit's scale and grade
- Clear dual-route processing strategy tailored to metal distribution
- Qualified Person (QP) sign-off on technical information
- Metallurgical laboratory is ISO/IEC 17025 accredited
Negative factors
- Tungsten recovery is stated as 'up to 74%', which is not a definitive single number
- Tungsten concentrate grade is given as a mineral (scheelite) rather than a metal percentage
- A significant portion of the maiden resource is in the Inferred category, which is less certain
Low confidence — this extraction should be reviewed alongside the original source.
Facts used in scoring: 37
Classification and evidence
High Recoverypositive
Recovery at or above the exceptional band for the commodity and processing route.
Why it applies: New open-circuit test work on the copper sub-domain composite achieved an exceptional 95% copper recovery and 94.4% silver recovery, and 90% gold recovery.
Evidence · table
“95% copper, 90% gold and 94.4% silver recovery”
Context: Au: 1.16 g/t Ag: 71 g/t Cu: 0.42%
Recovery Improvingpositive
Recovery improved versus a like-for-like prior test program on the same domain and route.
Why it applies: New open-circuit test work on the copper sub-domain composite achieved 95% copper recovery, an improvement from the 85% reported for the master composite. Silver recovery also improved to 94.4% from 92%. Tungsten recovery improved to up to 74% from 70%.
Evidence · table
“95% copper, 90% gold and 94.4% silver recovery”
Context: Au: 1.16 g/t Ag: 71 g/t Cu: 0.42%
Bench Scale Onlynegative
Only preliminary bench tests completed — no locked-cycle or pilot work.
Why it applies: Tungsten test work is described as 'Tungsten sub-domain test work' with recovery 'up to 74%' and 'subsequent bulk-sample testing', implying preliminary bench-scale or batch tests rather than continuous pilot-scale operation.
Evidence · table
“Tungsten recovery through gravity and flotation of up to 74%. Separate, subsequent bulk-sample testing produced a concentrate containing 95% scheelite.”
Context: Au: 2.91 g/t Ag: 26.4 g/t Cu: 0.15% WO 3 : 0.44%
Multi-Domain Testedpositive
Variability across ore domains (oxide, transition, fresh) has been addressed.
Why it applies: Metallurgical test work was conducted on an 'Apollo master composite', 'Copper sub-domain composite', and 'Tungsten sub-domain test work', indicating variability across ore domains has been addressed.
Evidence · text
“The sample material used to generate the copper and tungsten results presented in Table 1 was sourced specifically from the Copper Sub-Domain and Tungsten Sub-Domain, respectively ( see Figures 1 and 2). The Apollo master composite was generated from drill core samples collected from representative locations across approximately the top 1,000 metres of the Apollo deposit .”
Free Millingpositive
Simple, clean ore amenable to standard processing without oxidation.
Why it applies: The master composite achieved high gold, silver, and copper recoveries using 'conventional processing methods' with 'low cyanide consumption of 0.57 kg/t'.
Evidence · table
“95% gold, 92% silver, and 85% copper recovery using conventional processing methods, with low cyanide consumption of 0.57 kg/t in test work.”
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 was conducted as 'Locked-cycle testing', which simulates recycle streams and is considered a strong level 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 for gold and silver' and 'cyanidation' for residual gold and silver from copper flotation tailings.
Evidence · text
“the balance of the Mineral Resource will be processed through a conventional cyanidation circuit for gold and silver.”
Flotationneutral · Story-specific tag
No canonical definition is currently available.
Why it applies: The processing strategy includes 'copper flotation' for higher-grade copper material and 'flotation' for tungsten recovery.
Evidence · text
“Higher-grade copper material will be directed to copper flotation”
Gravity Routeneutral
Gravity separation forms a material part of the flowsheet.
Why it applies: The processing strategy incorporates 'gravity recovery' for gold and silver and a 'front-end gravity stage' for tungsten-rich material.
Evidence · text
“Material with low copper and tungsten grades will be processed primarily through gravity recovery and cyanidation”
Maiden Resourceneutral
First formal MRE for the project — establishes baseline but typically exploration-stage with high Inferred component.
Why it applies: The document explicitly refers to the 'Apollo Maiden Mineral Resource', indicating this is the first formal resource estimate for the project.
Evidence · text
“Apollo Maiden Mineral Resource (announced September 8, 2026)”
Indicated Resourcepositive
Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.
Why it applies: The resource estimate includes a 'Total Indicated' mineral resource of 37.0 Mt.
Evidence · table
“Total Indicated”
Context: 37.0
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: The resource estimate includes a 'Total Inferred' mineral resource of 48.2 Mt, which is a speculative category.
Evidence · table
“Total Inferred”
Context: 48.2
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., CEO of Collective Mining, is named as a Qualified Person who 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 resource estimate is stated to be classified in accordance with '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.”
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: The document clearly states the cut-off grades used for the resource estimate: '0.3 g/t AuEq for the open pit, 1.2 g/t AuEq for underground resources above 1,000 masl and 1.5 g/t AuEq for the Ramp Zone below 1,000 masl'.
Evidence · text
“Mineral Resources are reported at cut-off grades of 0.3 g/t AuEq for the open pit, 1.2 g/t AuEq for underground resources above 1,000 masl and 1.5 g/t AuEq for the Ramp Zone below 1,000 masl.”
Metal Equivalent Assumptions Disclosedpositive · Story-specific tag
No canonical definition is currently available.
Why it applies: The document provides a detailed formula for the AuEq calculation, including metal prices and metallurgical recoveries for each metal.
Evidence · text
“AuEq = ((Au g/t × 0.95) + (Ag g/t × 0.020 × 0.92) + (Cu % × 1.20 × 0.85) + (WO₃ % × 21.33 × 0.70)) / 0.95, using metal prices of US$3,000/oz gold, US$60/oz silver, US$5.25/lb copper and US$93.31/lb WO₃ (equivalent to US$2,057/mtu WO₃), and metallurgical recoveries of 95% for gold, 92% for silver, 85% for copper and 70% for WO₃.”
Extracted facts
Stored fact records: 37. Some facts used in scoring do not have a stored record.
Resource Estimates (30)
indicatedApollo · goldTonnes: 22500000Grade: 1.02Grade Unit: g/tContained Metal: 0.74Contained Unit: mozView all detailsHide details
Identity
- Project
- Apollo
- Commodity
- gold
- Region
- colombia
- Reported Region
- Caldas, Colombia
- Ticker
- CNL
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:33aa202f3486c574de66
- Deposit or zone
- Open Pit (Shallow Halo Zone)
- Mining method
- combined
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
- Assumptions Disclosed
- Yes
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-09-21T00:00:00.000Z
Reasoning: The indicated open pit resource contributes significantly to the maiden estimate with a good gold grade, providing a solid foundation for future development.
Positive factors
- Significant indicated resource tonnage in the open pit zone
- Good gold grade for an open pit deposit
- Part of a maiden resource estimate
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
indicatedApollo · silverTonnes: 22500000Grade: 30.2Grade Unit: g/tView all detailsHide details
Identity
- Project
- Apollo
- Commodity
- silver
- Region
- colombia
- Reported Region
- Caldas, Colombia
- Ticker
- CNL
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:33aa202f3486c574de66
- Deposit or zone
- Open Pit (Shallow Halo Zone)
- Mining method
- combined
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
- Assumptions Disclosed
- Yes
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-09-21T00:00:00.000Z
Reasoning: The indicated open pit resource includes a notable silver grade, adding to the polymetallic nature of the deposit.
Positive factors
- Significant silver grade in the indicated open pit resource
- Part of a maiden resource estimate
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
indicatedApollo · copperTonnes: 22500000Grade: 0.2Grade Unit: %View all detailsHide details
Identity
- Project
- Apollo
- Commodity
- copper
- Region
- colombia
- Reported Region
- Caldas, Colombia
- Ticker
- CNL
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:33aa202f3486c574de66
- Deposit or zone
- Open Pit (Shallow Halo Zone)
- Mining method
- combined
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
- Assumptions Disclosed
- Yes
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-09-21T00:00:00.000Z
Reasoning: The indicated open pit resource includes a copper grade, contributing to the overall metal endowment of the deposit.
Positive factors
- Copper grade contributes to the polymetallic nature of the indicated open pit resource
- Part of a maiden resource estimate
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
indicatedApollo · tungstenTonnes: 22500000Grade: 0.015Grade Unit: %View all detailsHide details
Identity
- Project
- Apollo
- Commodity
- tungsten
- Region
- colombia
- Reported Region
- Caldas, Colombia
- Ticker
- CNL
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:33aa202f3486c574de66
- Deposit or zone
- Open Pit (Shallow Halo Zone)
- Mining method
- combined
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
- Assumptions Disclosed
- Yes
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-09-21T00:00:00.000Z
Reasoning: The indicated open pit resource includes a tungsten grade, further diversifying the metal content of the deposit.
Positive factors
- Tungsten grade adds to the polymetallic nature of the indicated open pit resource
- Part of a maiden resource estimate
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
indicatedApollo · goldTonnes: 13200000Grade: 1.68Grade Unit: g/tContained Metal: 0.71Contained Unit: mozView all detailsHide details
Identity
- Project
- Apollo
- Commodity
- gold
- Region
- colombia
- Reported Region
- Caldas, Colombia
- Ticker
- CNL
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:4879a398e363759c117a
- Deposit or zone
- Underground above 1,000 masl
- Mining method
- combined
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
- Assumptions Disclosed
- Yes
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-09-21T00:00:00.000Z
Reasoning: The indicated underground resource above 1,000 masl contributes significantly to the maiden estimate with a good gold grade, providing a solid foundation for future development.
Positive factors
- Significant indicated resource tonnage in the underground zone
- Good gold grade for an underground deposit
- Part of a maiden resource estimate
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
indicatedApollo · silverTonnes: 13200000Grade: 15.9Grade Unit: g/tView all detailsHide details
Identity
- Project
- Apollo
- Commodity
- silver
- Region
- colombia
- Reported Region
- Caldas, Colombia
- Ticker
- CNL
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:4879a398e363759c117a
- Deposit or zone
- Underground above 1,000 masl
- Mining method
- combined
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
- Assumptions Disclosed
- Yes
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-09-21T00:00:00.000Z
Reasoning: The indicated underground resource above 1,000 masl includes a notable silver grade, adding to the polymetallic nature of the deposit.
Positive factors
- Significant silver grade in the indicated underground resource
- Part of a maiden resource estimate
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
indicatedApollo · copperTonnes: 13200000Grade: 0.06Grade Unit: %View all detailsHide details
Identity
- Project
- Apollo
- Commodity
- copper
- Region
- colombia
- Reported Region
- Caldas, Colombia
- Ticker
- CNL
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:4879a398e363759c117a
- Deposit or zone
- Underground above 1,000 masl
- Mining method
- combined
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
- Assumptions Disclosed
- Yes
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-09-21T00:00:00.000Z
Reasoning: The indicated underground resource above 1,000 masl includes a copper grade, contributing to the overall metal endowment of the deposit.
Positive factors
- Copper grade contributes to the polymetallic nature of the indicated underground resource
- Part of a maiden resource estimate
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
indicatedApollo · tungstenTonnes: 13200000Grade: 0.003Grade Unit: %View all detailsHide details
Identity
- Project
- Apollo
- Commodity
- tungsten
- Region
- colombia
- Reported Region
- Caldas, Colombia
- Ticker
- CNL
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:4879a398e363759c117a
- Deposit or zone
- Underground above 1,000 masl
- Mining method
- combined
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
- Assumptions Disclosed
- Yes
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-09-21T00:00:00.000Z
Reasoning: The indicated underground resource above 1,000 masl includes a tungsten grade, further diversifying the metal content of the deposit.
Positive factors
- Tungsten grade adds to the polymetallic nature of the indicated underground resource
- Part of a maiden resource estimate
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
indicatedApollo · goldTonnes: 1290000Grade: 4.52Grade Unit: g/tContained Metal: 0.19Contained Unit: mozView all detailsHide details
Identity
- Project
- Apollo
- Commodity
- gold
- Region
- colombia
- Reported Region
- Caldas, Colombia
- Ticker
- CNL
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:7771d75445321b95c0c8
- Deposit or zone
- Underground below 1,000 masl (Ramp Zone)
- Mining method
- combined
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
- Assumptions Disclosed
- Yes
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-09-21T00:00:00.000Z
Reasoning: The indicated underground resource in the Ramp Zone shows a high gold grade, contributing a high-value component to the maiden resource estimate.
Positive factors
- High gold grade for an indicated underground resource
- Part of a maiden resource estimate
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
indicatedApollo · silverTonnes: 1290000Grade: 9.85Grade Unit: g/tView all detailsHide details
Identity
- Project
- Apollo
- Commodity
- silver
- Region
- colombia
- Reported Region
- Caldas, Colombia
- Ticker
- CNL
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:7771d75445321b95c0c8
- Deposit or zone
- Underground below 1,000 masl (Ramp Zone)
- Mining method
- combined
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
- Assumptions Disclosed
- Yes
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-09-21T00:00:00.000Z
Reasoning: The indicated underground resource in the Ramp Zone includes a silver grade, adding to the overall metal endowment of the deposit.
Positive factors
- Silver grade contributes to the polymetallic nature of the indicated underground resource
- Part of a maiden resource estimate
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
indicatedApollo · copperTonnes: 1290000Grade: 0.03Grade Unit: %View all detailsHide details
Identity
- Project
- Apollo
- Commodity
- copper
- Region
- colombia
- Reported Region
- Caldas, Colombia
- Ticker
- CNL
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:7771d75445321b95c0c8
- Deposit or zone
- Underground below 1,000 masl (Ramp Zone)
- Mining method
- combined
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
- Assumptions Disclosed
- Yes
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-09-21T00:00:00.000Z
Reasoning: The indicated underground resource in the Ramp Zone includes a copper grade, contributing to the overall metal endowment of the deposit.
Positive factors
- Copper grade contributes to the polymetallic nature of the indicated underground resource
- Part of a maiden resource estimate
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
indicatedApollo · goldTonnes: 37000000Grade: 1.64Grade Unit: mozContained Metal: 1.64Contained Unit: mozView all detailsHide details
Identity
- Project
- Apollo
- Commodity
- gold
- Region
- colombia
- Reported Region
- Caldas, Colombia
- Ticker
- CNL
Resource scope
- Estimate type
- resource
- Effective date
- 2026-08-31T00:00:00.000Z
- Reporting standards
- ni_43_101, sec_sk1300
- QP Signed
- Yes
- Qualified person names
- Ned Jalil
- Resource group id
- resource:d42befb6993b00fb29c7
- Mining method
- combined
Resource Data
- Category
- indicated
- Tonnes
- 37000000
- Grade
- 1.64
- Grade Unit
- moz
- Contained Metal
- 1.64
- Contained Unit
- moz
Prior Estimate
- Resource Date
- 2026-08-31
Metal Equivalent
- Metal Eq. Grade
- 2.58
- Metal Eq. Unit
- moz AuEq
- Assumptions Disclosed
- Yes
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-09-21T00:00:00.000Z
Reasoning: The total indicated resource for gold represents a substantial initial endowment, forming a key part of the maiden resource estimate.
Positive factors
- Significant total indicated gold contained metal
- Part of a maiden resource estimate
Evidence · table
“1.64”
Context: 37.0
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 Undisclosednegative
High-grade interval reported without stating the cut-off grade used for compositing.
Why it applies: no cutoff_grade was 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
indicatedApollo · silverTonnes: 37000000Grade: 29Grade Unit: mozContained Metal: 29Contained Unit: mozView all detailsHide details
Identity
- Project
- Apollo
- Commodity
- silver
- Region
- colombia
- Reported Region
- Caldas, Colombia
- Ticker
- CNL
Resource scope
- Estimate type
- resource
- Effective date
- 2026-08-31T00:00:00.000Z
- Reporting standards
- ni_43_101, sec_sk1300
- QP Signed
- Yes
- Qualified person names
- Ned Jalil
- Resource group id
- resource:d42befb6993b00fb29c7
- Mining method
- combined
Resource Data
- Category
- indicated
- Tonnes
- 37000000
- Grade
- 29
- Grade Unit
- moz
- Contained Metal
- 29
- Contained Unit
- moz
Prior Estimate
- Resource Date
- 2026-08-31
Metal Equivalent
- Metal Eq. Grade
- 2.58
- Metal Eq. Unit
- moz AuEq
- Assumptions Disclosed
- Yes
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-09-21T00:00:00.000Z
Reasoning: The total indicated resource for silver represents a substantial initial endowment, forming a key part of the maiden resource estimate.
Positive factors
- Significant total indicated silver contained metal
- Part of a maiden resource estimate
Evidence · table
“29.0”
Context: 37.0
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 Undisclosednegative
High-grade interval reported without stating the cut-off grade used for compositing.
Why it applies: no cutoff_grade was 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
indicatedApollo · copperTonnes: 37000000Grade: 0.14Grade Unit: %Contained Metal: 115Contained Unit: mlbView all detailsHide details
Identity
- Project
- Apollo
- Commodity
- copper
- Region
- colombia
- Reported Region
- Caldas, Colombia
- Ticker
- CNL
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:d42befb6993b00fb29c7
- Mining method
- combined
Resource Data
- Category
- indicated
- Tonnes
- 37000000
- Grade
- 0.14
- Grade Unit
- %
- Contained Metal
- 115
- Contained Unit
- mlb
Prior Estimate
- Resource Date
- 2026-08-31
Metal Equivalent
- Assumptions Disclosed
- Yes
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-09-21T00:00:00.000Z
Reasoning: The total indicated resource for copper represents a substantial initial endowment, forming a key part of the maiden resource estimate.
Positive factors
- Significant total indicated copper contained metal
- Part of a maiden resource estimate
Evidence · table
“115”
Context: 37.0
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 Undisclosednegative
High-grade interval reported without stating the cut-off grade used for compositing.
Why it applies: no cutoff_grade was 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
indicatedApollo · tungstenTonnes: 37000000Grade: 0.011Grade Unit: %Contained Metal: 3887Contained Unit: tView all detailsHide details
Identity
- Project
- Apollo
- Commodity
- tungsten
- Region
- colombia
- Reported Region
- Caldas, Colombia
- Ticker
- CNL
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:d42befb6993b00fb29c7
- Mining method
- combined
Resource Data
- Category
- indicated
- Tonnes
- 37000000
- Grade
- 0.011
- Grade Unit
- %
- Contained Metal
- 3887
- Contained Unit
- t
Prior Estimate
- Resource Date
- 2026-08-31
Metal Equivalent
- Assumptions Disclosed
- Yes
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-09-21T00:00:00.000Z
Reasoning: The total indicated resource for tungsten represents a substantial initial endowment, forming a key part of the maiden resource estimate.
Positive factors
- Significant total indicated tungsten contained metal
- Part of a maiden resource estimate
Evidence · table
“3,887”
Context: 37.0
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 Undisclosednegative
High-grade interval reported without stating the cut-off grade used for compositing.
Why it applies: no cutoff_grade was 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
inferredApollo · goldTonnes: 25900000Grade: 0.6Grade Unit: g/tContained Metal: 0.5Contained Unit: mozView all detailsHide details
Identity
- Project
- Apollo
- Commodity
- gold
- Region
- colombia
- Reported Region
- Caldas, Colombia
- Ticker
- CNL
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:d6bf21a8ca7ea692b890
- Deposit or zone
- Open Pit (Shallow Halo Zone)
- Mining method
- combined
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
- Assumptions Disclosed
- Yes
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-09-21T00:00:00.000Z
Reasoning: The inferred open pit resource provides additional exploration potential, though with lower confidence due to its inferred classification.
Positive factors
- Significant inferred resource tonnage in the open pit zone
- Part of a maiden resource estimate
Negative factors
- Resource is in the inferred category, indicating 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
inferredApollo · silverTonnes: 25900000Grade: 8.98Grade Unit: g/tView all detailsHide details
Identity
- Project
- Apollo
- Commodity
- silver
- Region
- colombia
- Reported Region
- Caldas, Colombia
- Ticker
- CNL
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:d6bf21a8ca7ea692b890
- Deposit or zone
- Open Pit (Shallow Halo Zone)
- Mining method
- combined
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
- Assumptions Disclosed
- Yes
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-09-21T00:00:00.000Z
Reasoning: The inferred open pit resource includes a silver grade, adding to the overall metal endowment with lower confidence.
Positive factors
- Silver grade contributes to the polymetallic nature of the inferred open pit resource
- Part of a maiden resource estimate
Negative factors
- Resource is in the inferred category, indicating 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
inferredApollo · copperTonnes: 25900000Grade: 0.03Grade Unit: %View all detailsHide details
Identity
- Project
- Apollo
- Commodity
- copper
- Region
- colombia
- Reported Region
- Caldas, Colombia
- Ticker
- CNL
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:d6bf21a8ca7ea692b890
- Deposit or zone
- Open Pit (Shallow Halo Zone)
- Mining method
- combined
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
- Assumptions Disclosed
- Yes
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-09-21T00:00:00.000Z
Reasoning: The inferred open pit resource includes a copper grade, contributing to the overall metal endowment with lower confidence.
Positive factors
- Copper grade contributes to the polymetallic nature of the inferred open pit resource
- Part of a maiden resource estimate
Negative factors
- Resource is in the inferred category, indicating 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
inferredApollo · tungstenTonnes: 25900000Grade: 0.003Grade Unit: %View all detailsHide details
Identity
- Project
- Apollo
- Commodity
- tungsten
- Region
- colombia
- Reported Region
- Caldas, Colombia
- Ticker
- CNL
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:d6bf21a8ca7ea692b890
- Deposit or zone
- Open Pit (Shallow Halo Zone)
- Mining method
- combined
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
- Assumptions Disclosed
- Yes
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-09-21T00:00:00.000Z
Reasoning: The inferred open pit resource includes a tungsten grade, further diversifying the metal content with lower confidence.
Positive factors
- Tungsten grade adds to the polymetallic nature of the inferred open pit resource
- Part of a maiden resource estimate
Negative factors
- Resource is in the inferred category, indicating 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
inferredApollo · goldTonnes: 16200000Grade: 1.84Grade Unit: g/tContained Metal: 0.96Contained Unit: mozView all detailsHide details
Identity
- Project
- Apollo
- Commodity
- gold
- Region
- colombia
- Reported Region
- Caldas, Colombia
- Ticker
- CNL
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:ae44aeae0df6d14ad500
- Deposit or zone
- Underground above 1,000 masl
- Mining method
- combined
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
- Assumptions Disclosed
- Yes
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-09-21T00:00:00.000Z
Reasoning: The inferred underground resource above 1,000 masl provides additional exploration potential with a good gold grade, though with lower confidence due to its inferred classification.
Positive factors
- Significant inferred resource tonnage in the underground zone
- Good gold grade for an underground deposit
- Part of a maiden resource estimate
Negative factors
- Resource is in the inferred category, indicating 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
inferredApollo · silverTonnes: 16200000Grade: 7.69Grade Unit: g/tView all detailsHide details
Identity
- Project
- Apollo
- Commodity
- silver
- Region
- colombia
- Reported Region
- Caldas, Colombia
- Ticker
- CNL
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:ae44aeae0df6d14ad500
- Deposit or zone
- Underground above 1,000 masl
- Mining method
- combined
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
- Assumptions Disclosed
- Yes
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-09-21T00:00:00.000Z
Reasoning: The inferred underground resource above 1,000 masl includes a silver grade, adding to the overall metal endowment with lower confidence.
Positive factors
- Silver grade contributes to the polymetallic nature of the inferred underground resource
- Part of a maiden resource estimate
Negative factors
- Resource is in the inferred category, indicating 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
inferredApollo · copperTonnes: 16200000Grade: 0.03Grade Unit: %View all detailsHide details
Identity
- Project
- Apollo
- Commodity
- copper
- Region
- colombia
- Reported Region
- Caldas, Colombia
- Ticker
- CNL
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:ae44aeae0df6d14ad500
- Deposit or zone
- Underground above 1,000 masl
- Mining method
- combined
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
- Assumptions Disclosed
- Yes
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-09-21T00:00:00.000Z
Reasoning: The inferred underground resource above 1,000 masl includes a copper grade, contributing to the overall metal endowment with lower confidence.
Positive factors
- Copper grade contributes to the polymetallic nature of the inferred underground resource
- Part of a maiden resource estimate
Negative factors
- Resource is in the inferred category, indicating 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
inferredApollo · tungstenTonnes: 16200000Grade: 0.002Grade Unit: %View all detailsHide details
Identity
- Project
- Apollo
- Commodity
- tungsten
- Region
- colombia
- Reported Region
- Caldas, Colombia
- Ticker
- CNL
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:ae44aeae0df6d14ad500
- Deposit or zone
- Underground above 1,000 masl
- Mining method
- combined
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
- Assumptions Disclosed
- Yes
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-09-21T00:00:00.000Z
Reasoning: The inferred underground resource above 1,000 masl includes a tungsten grade, further diversifying the metal content with lower confidence.
Positive factors
- Tungsten grade adds to the polymetallic nature of the inferred underground resource
- Part of a maiden resource estimate
Negative factors
- Resource is in the inferred category, indicating 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
inferredApollo · goldTonnes: 6040000Grade: 5.2Grade Unit: g/tContained Metal: 1.01Contained Unit: mozView all detailsHide details
Identity
- Project
- Apollo
- Commodity
- gold
- Region
- colombia
- Reported Region
- Caldas, Colombia
- Ticker
- CNL
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:9e4d6b261e7b043c8bab
- Deposit or zone
- Underground below 1,000 masl (Ramp Zone)
- Mining method
- combined
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
- Assumptions Disclosed
- Yes
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-09-21T00:00:00.000Z
Reasoning: The inferred underground resource in the Ramp Zone shows a high gold grade, contributing a high-value component to the maiden resource estimate, though with lower confidence.
Positive factors
- High gold grade for an inferred underground resource
- Part of a maiden resource estimate
Negative factors
- Resource is in the inferred category, indicating 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
inferredApollo · silverTonnes: 6040000Grade: 7.72Grade Unit: g/tView all detailsHide details
Identity
- Project
- Apollo
- Commodity
- silver
- Region
- colombia
- Reported Region
- Caldas, Colombia
- Ticker
- CNL
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:9e4d6b261e7b043c8bab
- Deposit or zone
- Underground below 1,000 masl (Ramp Zone)
- Mining method
- combined
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
- Assumptions Disclosed
- Yes
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-09-21T00:00:00.000Z
Reasoning: The inferred underground resource in the Ramp Zone includes a silver grade, adding to the overall metal endowment with lower confidence.
Positive factors
- Silver grade contributes to the polymetallic nature of the inferred underground resource
- Part of a maiden resource estimate
Negative factors
- Resource is in the inferred category, indicating 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
inferredApollo · copperTonnes: 6040000Grade: 0.02Grade Unit: %View all detailsHide details
Identity
- Project
- Apollo
- Commodity
- copper
- Region
- colombia
- Reported Region
- Caldas, Colombia
- Ticker
- CNL
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:9e4d6b261e7b043c8bab
- Deposit or zone
- Underground below 1,000 masl (Ramp Zone)
- Mining method
- combined
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
- Assumptions Disclosed
- Yes
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-09-21T00:00:00.000Z
Reasoning: The inferred underground resource in the Ramp Zone includes a copper grade, contributing to the overall metal endowment with lower confidence.
Positive factors
- Copper grade contributes to the polymetallic nature of the inferred underground resource
- Part of a maiden resource estimate
Negative factors
- Resource is in the inferred category, indicating 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
inferredApollo · goldTonnes: 48200000Grade: 2.47Grade Unit: mozContained Metal: 2.47Contained Unit: mozView all detailsHide details
Identity
- Project
- Apollo
- Commodity
- gold
- Region
- colombia
- Reported Region
- Caldas, Colombia
- Ticker
- CNL
Resource scope
- Estimate type
- resource
- Effective date
- 2026-08-31T00:00:00.000Z
- Reporting standards
- ni_43_101, sec_sk1300
- QP Signed
- Yes
- Qualified person names
- Ned Jalil
- Resource group id
- resource:2c2293d86f4cb65777b5
- Mining method
- combined
Resource Data
- Category
- inferred
- Tonnes
- 48200000
- Grade
- 2.47
- Grade Unit
- moz
- Contained Metal
- 2.47
- Contained Unit
- moz
Prior Estimate
- Resource Date
- 2026-08-31
Metal Equivalent
- Metal Eq. Grade
- 2.83
- Metal Eq. Unit
- moz AuEq
- Assumptions Disclosed
- Yes
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-09-21T00:00:00.000Z
Reasoning: The total inferred resource for gold represents a substantial initial endowment, providing exploration potential but with lower confidence.
Positive factors
- Significant total inferred gold contained metal
- Part of a maiden resource estimate
Negative factors
- Resource is in the inferred category, indicating lower geological confidence
Evidence · table
“2.47”
Context: 48.2
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 Undisclosednegative
High-grade interval reported without stating the cut-off grade used for compositing.
Why it applies: no cutoff_grade was 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
inferredApollo · silverTonnes: 48200000Grade: 13Grade Unit: mozContained Metal: 13Contained Unit: mozView all detailsHide details
Identity
- Project
- Apollo
- Commodity
- silver
- Region
- colombia
- Reported Region
- Caldas, Colombia
- Ticker
- CNL
Resource scope
- Estimate type
- resource
- Effective date
- 2026-08-31T00:00:00.000Z
- Reporting standards
- ni_43_101, sec_sk1300
- QP Signed
- Yes
- Qualified person names
- Ned Jalil
- Resource group id
- resource:2c2293d86f4cb65777b5
- Mining method
- combined
Resource Data
- Category
- inferred
- Tonnes
- 48200000
- Grade
- 13
- Grade Unit
- moz
- Contained Metal
- 13
- Contained Unit
- moz
Prior Estimate
- Resource Date
- 2026-08-31
Metal Equivalent
- Metal Eq. Grade
- 2.83
- Metal Eq. Unit
- moz AuEq
- Assumptions Disclosed
- Yes
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-09-21T00:00:00.000Z
Reasoning: The total inferred resource for silver represents a substantial initial endowment, providing exploration potential but with lower confidence.
Positive factors
- Significant total inferred silver contained metal
- Part of a maiden resource estimate
Negative factors
- Resource is in the inferred category, indicating lower geological confidence
Evidence · table
“13.0”
Context: 48.2
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 Undisclosednegative
High-grade interval reported without stating the cut-off grade used for compositing.
Why it applies: no cutoff_grade was 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
inferredApollo · copperTonnes: 48200000Grade: 0.03Grade Unit: %Contained Metal: 32Contained Unit: mlbView all detailsHide details
Identity
- Project
- Apollo
- Commodity
- copper
- Region
- colombia
- Reported Region
- Caldas, Colombia
- Ticker
- CNL
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:2c2293d86f4cb65777b5
- Mining method
- combined
Resource Data
- Category
- inferred
- Tonnes
- 48200000
- Grade
- 0.03
- Grade Unit
- %
- Contained Metal
- 32
- Contained Unit
- mlb
Prior Estimate
- Resource Date
- 2026-08-31
Metal Equivalent
- Assumptions Disclosed
- Yes
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-09-21T00:00:00.000Z
Reasoning: The total inferred resource for copper represents a substantial initial endowment, providing exploration potential but with lower confidence.
Positive factors
- Significant total inferred copper contained metal
- Part of a maiden resource estimate
Negative factors
- Resource is in the inferred category, indicating lower geological confidence
Evidence · table
“32”
Context: 48.2
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 Undisclosednegative
High-grade interval reported without stating the cut-off grade used for compositing.
Why it applies: no cutoff_grade was 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
inferredApollo · tungstenTonnes: 48200000Grade: 0.002Grade Unit: %Contained Metal: 1081Contained Unit: tView all detailsHide details
Identity
- Project
- Apollo
- Commodity
- tungsten
- Region
- colombia
- Reported Region
- Caldas, Colombia
- Ticker
- CNL
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:2c2293d86f4cb65777b5
- Mining method
- combined
Resource Data
- Category
- inferred
- Tonnes
- 48200000
- Grade
- 0.002
- Grade Unit
- %
- Contained Metal
- 1081
- Contained Unit
- t
Prior Estimate
- Resource Date
- 2026-08-31
Metal Equivalent
- Assumptions Disclosed
- Yes
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-09-21T00:00:00.000Z
Reasoning: The total inferred resource for tungsten represents a substantial initial endowment, providing exploration potential but with lower confidence.
Positive factors
- Significant total inferred tungsten contained metal
- Part of a maiden resource estimate
Negative factors
- Resource is in the inferred category, indicating lower geological confidence
Evidence · table
“1,081”
Context: 48.2
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 Undisclosednegative
High-grade interval reported without stating the cut-off grade used for compositing.
Why it applies: no cutoff_grade was 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
Metallurgical Results (7)
locked-cycleApollo · goldRecovery: 95 %Head Grade: 1.4Head Grade Unit: g/tHistorical resultNeeds review: historical_restatementView all detailsHide details
Identity
- Project
- Apollo
- Commodity
- gold
- Region
- colombia
- Reported Region
- Caldas, Colombia
- Ticker
- CNL
Test Work
- Program Status
- detailed
- Test Type
- locked-cycle
- Processing Route
- conventional processing methods
- 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.'s Kamloops laboratory
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: This result confirms a previously reported high gold recovery from the Apollo master composite using conventional processing methods and low cyanide consumption.
Positive factors
- High gold recovery achieved
- Low cyanide consumption
- Test work conducted at locked-cycle stage
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-cycleApollo · silverRecovery: 92 %Head Grade: 20Head Grade Unit: g/tHistorical resultNeeds review: historical_restatementView all detailsHide details
Identity
- Project
- Apollo
- Commodity
- silver
- Region
- colombia
- Reported Region
- Caldas, Colombia
- Ticker
- CNL
Test Work
- Program Status
- detailed
- Test Type
- locked-cycle
- Processing Route
- conventional processing methods
- Sample
- Apollo master composite
Recovery
- Recovery
- 92 %
- Recovery Basis
- actual_test
- Head Grade
- 20
- Head Grade Unit
- g/t
Lab
- Laboratory
- ALS Canada Ltd.'s Kamloops laboratory
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: This result confirms a previously reported high silver recovery from the Apollo master composite using conventional processing methods.
Positive factors
- High silver recovery achieved
- Test work conducted at locked-cycle stage
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-cycleApollo · copperRecovery: 85 %Head Grade: 0.08Head Grade Unit: %Historical resultNeeds review: historical_restatementView all detailsHide details
Identity
- Project
- Apollo
- Commodity
- copper
- Region
- colombia
- Reported Region
- Caldas, Colombia
- Ticker
- CNL
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
- %
Lab
- Laboratory
- ALS Canada Ltd.'s Kamloops laboratory
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: This result confirms a previously reported strong copper recovery from the Apollo master composite using conventional processing methods.
Positive factors
- Strong copper recovery achieved
- Test work conducted at locked-cycle stage
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
open-circuitApollo · copperRecovery: 95 %Head Grade: 0.42Head Grade Unit: %View all detailsHide details
Identity
- Project
- Apollo
- Commodity
- copper
- Region
- colombia
- Reported Region
- Caldas, Colombia
- Ticker
- CNL
Test Work
- Program Status
- preliminary
- Test Type
- open-circuit
- 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.'s Kamloops laboratory
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-09-21T00:00:00.000Z
Reasoning: New open-circuit test work on the copper sub-domain composite achieved an exceptional 95% copper recovery and a high concentrate grade, significantly improving upon previous results and validating the targeted processing strategy.
Positive factors
- Exceptional copper recovery (95%)
- Significant improvement in copper recovery compared to prior master composite (95% vs 85%)
- High concentrate grade (27.2% Cu)
- Supports a multi-product processing strategy
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%)
open-circuitApollo · goldRecovery: 90 %Head Grade: 1.16Head Grade Unit: g/tView all detailsHide details
Identity
- Project
- Apollo
- Commodity
- gold
- Region
- colombia
- Reported Region
- Caldas, Colombia
- Ticker
- CNL
Test Work
- Program Status
- preliminary
- Test Type
- open-circuit
- 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.'s Kamloops laboratory
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-09-21T00:00:00.000Z
Reasoning: New open-circuit test work on the copper sub-domain composite achieved a high 90% gold recovery and a high concentrate grade, supporting the integrated processing flowsheet.
Positive factors
- High gold recovery achieved (90%)
- High concentrate grade (37.6 g/t Au)
- Supports a multi-product processing strategy
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
open-circuitApollo · silverRecovery: 94.4 %Head Grade: 71Head Grade Unit: g/tView all detailsHide details
Identity
- Project
- Apollo
- Commodity
- silver
- Region
- colombia
- Reported Region
- Caldas, Colombia
- Ticker
- CNL
Test Work
- Program Status
- preliminary
- Test Type
- open-circuit
- 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.'s Kamloops laboratory
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-09-21T00:00:00.000Z
Reasoning: New open-circuit test work on the copper sub-domain composite achieved an exceptional 94.4% silver recovery and a very high concentrate grade, significantly improving upon previous results and validating the targeted processing strategy.
Positive factors
- Exceptional silver recovery achieved (94.4%)
- Significant improvement in silver recovery compared to prior master composite (94.4% vs 92%)
- Very high concentrate grade (3,504 g/t Ag)
- Supports a multi-product processing strategy
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%)
batchApollo · tungstenRecovery: 74 %Head Grade: 0.44Head Grade Unit: %View all detailsHide details
Identity
- Project
- Apollo
- Commodity
- tungsten
- Region
- colombia
- Reported Region
- Caldas, Colombia
- Ticker
- CNL
Test Work
- Program Status
- preliminary
- Test Type
- batch
- Processing Route
- gravity and flotation
- Sample
- Tungsten sub-domain test work
Recovery
- Recovery
- 74 %
- Recovery Basis
- actual_test
- Head Grade
- 0.44
- Head Grade Unit
- %
Reagents
- Reagent Notes
- Separate, subsequent bulk-sample testing produced a concentrate containing 95% scheelite.
Lab
- Laboratory
- ALS Canada Ltd.'s Kamloops laboratory
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-09-21T00:00:00.000Z
Reasoning: New test work on the tungsten sub-domain achieved good recoveries of up to 74% and produced a high-grade scheelite concentrate, supporting the viability of tungsten recovery.
Positive factors
- Good tungsten recovery achieved (up to 74%)
- Improvement in tungsten recovery compared to prior (74% vs 70%)
- Subsequent bulk sample produced high-grade scheelite concentrate
- Supports a multi-product processing strategy
Negative factors
- Recovery stated as 'up to 74%', indicating variability or not a definitive single number
- Concentrate grade reported as a mineral (scheelite) rather than a metal percentage
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% WO 3 : 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.