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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