(Kitco News) - Collective Mining’s Apollo discovery in Colombia has the potential to become the country’s first large-scale copper-gold-tungsten producer, with Executive Chair Ari Sussman citing the possibility of exceeding 10 million ounces of gold equivalent at the site.
“This is a giant system,” said Sussman in an interview with Kitco Mining. “It’s world-class and there’s going to be a lot more ounces found here.”
The Apollo system, located in Colombia’s Caldas department near Aris Mining’s Marmato project, is currently being drilled to expand its dimensions of 600 meters by 400 meters by 1.3 kilometers vertically. According to Sussman, the breccia-hosted deposit is enriched with porphyry-style copper and gold mineralization, and has interesting tungsten content at shallow depths – an increasingly strategic metal amid global supply chain realignments.
“What excited us early on was the copper,” said Sussman. “When you have copper, gold, and silver over hundreds of meters, and now we’ve added tungsten at the top of the system, that’s an extremely rare polymetallic opportunity.”
Collective Mining’s valuation recently soared past C$1.2 billion, driven in part by a strategic investment from Agnico Eagle Mines, which now holds 14.99% of the company after a C$63.4 million injection. Agnico also backed Sussman’s previous venture, Continental Gold, before it was acquired by Zijin Mining.
While a maiden resource is still pending, analysts estimate Apollo’s current mineral inventory to be between 5 and 8 million ounces. The ongoing and expanded 2025 drill program includes 70,000 meters, with expansion at Apollo and new targets such as Trap, Tower, and the San Antonio porphyry prospect.
Sussman said he believes Collective could become Colombia’s first copper producer and sees the potential to develop a 300,000+ ounce per year mine.
“If we hit on just half of the 11 subzones we’re targeting, it’ll raise the grade meaningfully,” he said. “We’re in a position to build something globally significant.”
Colombia’s perceived political risk has not hampered Collective’s progress, according to Sussman. He highlighted the country’s pro-mining legal framework, streamlined permitting timelines, and the project’s favorable social license as key advantages.
“Define political risk,” he said. “Colombia has mining law, rule of law, and a permitting process that works. It’s not Canada or the U.S., where permitting takes decades.”
Collective’s Apollo discovery is located just two kilometers from Aris Mining’s development-stage Marmato Deep Zone, and some speculate the two projects could eventually be integrated. “We’re not planning that now,” Sussman said. “But the proximity makes it an interesting proposition.”
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