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Resource Clips

Posts tagged ‘Colt Resources Inc (GTP)’

Good To Go

May 11th, 2012

Colt Finds Gold and Good Faith in Portugal

By Ted Niles

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When Colt Resources TSXV:GTP finalized the acquisition of its Montemor property in November 2011, it got much more than prospective land in Portugal. “If we had to start from scratch to get to this point,” Nikolas Perrault declares, “it would take us five to 10 years and well over $20 million to replicate the database.” Previous work on the property was extensive, including upwards of 1,100 drill holes and 510 trenches and an historical (non-NI 43-101-compliant) resource estimate of 610,000 gold ounces. “What is striking,” the President/CEO adds, “is the exceptional nature of the work. Our drilling so far and some of the holes we’ve twinned have been confirming the high quality of this database. It will allow us to incorporate a lot of the historical data into our resource estimate.”

Located 95 kilometres east of the city of Lisbon, Colt‘s Montemor concession consists of 732-square kilometres. Contained within that is the 47-square-kilometre Boa Fé Gold Project, for which Colt has an Experimental Mining License and which saw the bulk of the historical work. The company’s first order of business is to confirm the previous results and release a maiden resource in June.

Colt Finds Gold and Good Faith in Portugal

Colt: 'We actually have the ability to commence mining, if we so desire'

May 10 assays from the Chaminé, Casas Novas, Ligeiro and Braços deposits of the Boa Fé project include

  • 3.37 g/t gold over 7.5 metres (including 7.38 g/t over 2.1 metres)
  • 1.77 g/t over 12.1 metres
  • 8.4 g/t over 9.6 metres (including 31.7 g/t over 2.2 metres)
  • 1.36 g/t over 19.7 metres (including 4.48 g/t over 2.5 metres)

April 30 assays of the Chaminé and Ligeiro deposits include

  • 6.96 g/t gold over 14.5 metres (including 16.96 g/t over 5.6 metres)
  • 2.03 g/t over 4 metres
  • 5.42 g/t over 23.6 metres (including 11.6 g/t over 7.6 metres)

Perrault comments, “Most of the drilling done previously was done in one orientation, and so we’re doing a combination of vertical holes to compliment that and get a better handle on the structure. We’re getting at surface grades that you’d be happy to see underground. Initially, this will be a series of open pits, which we’re hoping to be able to connect into larger ones. After that, if our theory proves right, we believe we’re going to get a series of these deposits, one on top of the other.”

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Colt Resources reports Portugal Gold Assays as high as 4.46 g/t over 19.6m

March 26th, 2012

Resource Clips - essential news on junior gold mining and junior silver miningColt Resources Inc TSXV:GTP announced assays from the Chaminé, Ligeiro and Casas Novas deposits of the Boa Fé gold project in southern Portugal. Results include

6.78 g/t gold over 11.7 metres (including 8.23 g/t over 3.4 metres)
2.61 g/t over 5.5 metres
4.11 g/t over 16.5 metres (including 9.71 g/t over 4.7 metres)
4.46 g/t over 19.6 metres (including 14.92 g/t over 3.4 metres)
3.51 g/t over 5.2 metres

President/CEO Nikolas Perrault stated, “We have commenced the process of unlocking value at Casas Novas, located 400 metres northwest of the Chaminé deposit. These initial near-surface results combined with the additional positive near-surface results from Chaminé and Ligeiro being reported today, strengthen our resolve to continue our aggressive advanced exploration campaign designed to rapidly develop several previously identified gold deposits located within our 100% controlled Boa Fé project.”

View Company Profile

Natalia Sokolova
VP Investor Relations

by Ted Niles

Colt reports Portugal Assays of 5.28 g/t Gold over 15.4m

March 16th, 2012

Resource Clips - essential news on junior gold mining and junior silver miningColt Resources Inc TSXV:GTP announced results from its Boa Fé Gold Project in southern Portugal. Highlights include

5.28 g/t gold over 15.4 metres
(including 9.71 g/t over 3.5 metres
1.9 g/t over 14 metres
(including 3.76 g/t over 4 metres)
1.77 g/t over 4.4 metres
1.98 g/t over 2.7 metres
1.05 g/t over 2 metres

President/CEO Nikolas Perrault stated, “As promised, we are providing regular updates from our Boa Fé Gold Project. We have broadened our drilling and trenching efforts to include the Ligeiro Deposit and we are pleased to see continued positive near-surface results. In the weeks ahead, we also expect to begin reporting results from the nearby Casas Novas Deposit as we further expand the campaign currently underway, which is designed to confirm and increase the potential of this very exciting gold project.”

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Nikolas Perrault

or Declan Costelloe
Executive VP/COO

or Natalia Sokolova
VP of Investor Relations

by Greg Klein