The 22-year-old midfielder had been linked with a £200,000 move to Hibs during the January transfer window, but Collins has moved to rubbish these reports.
Black was a Blackburn Rovers trainee before moving North to Inverness.
"There is no truth in it. We've been linked with a lot of players but he is not one of the players we have been looking at.
"We are still working on strengthening our squad, though, and are hoping to bring players in before the window closes."