The 31-year-old was taken to hospital during the game after being subbed off early in the second quarter.
Scans revealed Jolly had suffered cartilage damage in the rib area and he was able to leave hospital on Sunday night.
Collingwood's football chief Geoff Walsh said Collingwood will give him time to recover before determining whether he is available for selection this week against Hawthorn.
It is the second time in a month that Jolly has gone to hospital after receiving a heavy knock during a game.
He had a kidney scare following the Magpies final practice match at Simonds Stadium in March however he was cleared of damage on that occasion too.
Walsh said that although the two injuries were unrelated, the fact Jolly had received a couple of "decent shake-ups" in the past month the sensible approach was to give the ruckman sufficient rest before considering him for Sunday's game.
Collingwood's Quinten Lynch performed well in the ruck in Jolly's absence against the Blues and the Magpies' two back-up ruckman playing in the VFL – Ben Hudson and Jarrod Witts – are also in good form.
Meanwhile collingwoodfc.com.au reports that recruit Clinton Young looks like missing three to four weeks after injuring his hamstring in the first quarter of the VFL game at Victoria Park against North Ballarat.
Young arrived at Collingwood from Hawthorn but has yet to appear in the seniors after battling a series of leg injuries.
In better news Magpie premiership player Luke Ball is due to make his long awaited return from a knee reconstruction against the Werribee Tigers in the VFL on Saturday night, almost a year to the day since Ball injured his knee against Carlton in round three, 2012.
Darren Jolly is a ruckman in NAB AFL Fantasy. He averaged 83 points in 2012. Register your team at our AFL Fantasy Hub .
Peter Ryan covers Melbourne and Collingwood news for AFL.com.au. Follow him on Twitter at @AFL_petryan
