Tuesday, June 24, 2014

Colt Resources Inc. (COLTF) Explores for Gold and Tungsten in Portugal

Colt Resources is a Canadian mining exploration and development company involved in acquiring, exploring and developing mineral properties in Portugal and Canada. Since its incorporation in 2000, this exploration-stage company has largely searched for high-grade gold and tungsten along with lead, zinc, base metals, and other minerals.

Colt is presently focused on advanced-stage exploration projects in Portugal. The company’s emphasis on gold and tungsten is reflected in its core projects in the country, including the Boa Fé gold project in Southern Portugal and Tabuaço tungsten project in Northern Portugal.

In November 2013, Colt embarked on a drilling campaign to support feasibility studies for these two projects. Most recently, the company announced the completion of the infill drilling campaign at the Boa Fé project in the south of Portugal and the recommencement of drilling at the Tabuaço project in the north.

Last year, positive preliminary economic assessments were reported for the Boa Fé and Tabuaço projects in May 2013 and October 2013, respectively. These reports supported the company’s decision to press on and move towards feasibility study and mine development.

The current drilling program is intended to build up confidence in previously reported resources and has already achieved a total measurement of approximately 4400m with a target of 10,000m to be completed during the first half of 2014. All cores have been logged and sampled, and arrangements have been made to ship core samples to an assay laboratory in Spain.

Additionally, Colt has announced that the work required to complete applications for full mining permits at both projects is advancing along. Environmental data collection and monitoring work supporting environmental impact assessments for both projects is also ongoing.

Colt is committed to mitigating the impact of its mining on the environment. As such, the company is investigating the most favorable mining and processing methods—methods that will enhance the recovery of metals while ensuring that waste products will not pose a future threat.

For more information, visit www.ColtResources.com

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