Colt Resources Inc. (GTP: TSX-V; COLTF: OTCQX; FWB: P01), is one of the leading gold and tungsten mining exploration and development companies in the rapidly expanding Portuguese resource market. The Company’s 100% owned advanced-stage high-grade gold and tungsten projects in Portugal are expected to be in the production stage starting in the next 18 to 36 months respectively. Colt’s senior management team is strategically divided between the administrative and field offices in Beloura, Tabuaço and Escoural, Portugal and the corporate office in Montreal, Canada. With its high caliber management team, multiple environmental and community initiatives, and close relationships with the Portuguese Government, Colt is aggressively developing its Boa Fé Gold Project and its Tabuaço Tungsten Project.
Highlights of Colt’s Advanced Stage Projects
One of the largest holders of mining and exploration rights in Portugal.
A safe and stable European country with a supportive government, excellent infrastructure and services.
Completion of Preliminary Economic Assessment (PEA) – May 7, 2013 Full Report
The Boa Fé Experimental Mining License (47Km²) is surounded by the Montemor Exploration Concession (728 Km²). Both are 100% controlled by Colt.
Boa Fé / Montemor is a highly prospective area known to host several near surface gold deposits hosted within a regional shear mapped to ex-tend over 30km. The deposits remain open along strike and to depth.
Readily accessible, located 95km east of Lisbon, with excellent infrastruc-ture including roads, railway, water supply and electricity.
Significant historic database (confirmed to be NI43-101 compliant) and has been combined with Colts NI43-101 compliant drill database repre-senting a total sampled drill interval of 117,077m.
SRK Consulting (UK) has prepared an NI 43-101 compliant mineral re-source estimate, dated March 4, 2013 for 5 gold deposits within Boa Fé and 1 within Montemor. The estimate reports Indicated Mineral Re-sources of 340,310 oz (6.07mt @ 1.74g/t Au) and Inferred Mineral Re-sources of 84,200 oz (1.55mt @ 1.69g/t Au). Cut-off grade of 0.44g/t Au.
Preliminary Economic Assessment (PEA), dated May 7, 2013 also prepared by SRK based on the 6 NI43-101 supported gold deposits. Assuming open pit mining methods, the study considers 4 processing options, each of which delivered positive NPV5% and IRR results using conservative capital and operating cost estimates. Using Colts preferred Option D, the study delivered a pre-tax NPV5% of $92.8m and IRR of 39.6% and a post-tax NPV5% of $64.3m and IRR of 30.2%.
Environmental Impact Assessment is nearing completion and Feasibility Study is scheduled to be complete by year end 2013.
Boa Fé and Montemor remain largely unexplored and the potential to increase resources remains high.
Completion of Preliminary Economic Assessment (PEA) – September 4th, 2013 Full Report
The Tabuaço Experimental Mining License (EML) is located in north central Portugal, with excellent infrastructure including roads, railway, water supply and electricity. Tungsten is found as fine to coarse disseminations of scheelite within skarn horizons. The skarns are virtually devoid of sulphides and molybdenum, which is very favorable for potential mineral processing. Press Release (September 4, 2013) “Positive Preliminary Economic Assessment for Colt’s 100% owned Tabuaço Tungsten Project…”
Preliminary metallurgical test-work suggests potential for high recovery using conventional processing methods.Press Release March 2, 2011
High grade mineralization reported including: 1.50% WO₃over 10.01m and 0.93% WO₃over 13.34m including 1.05% WO₃over 8.74m. Press Release September 18, 2012
SRK Consulting (UK) and SRK Exploration Services with inputs from SRK Denver has prepared an NI43-101 compliant mineral resource estimate, dated October 3, 2012, which Indicated Mineral Resources of 815,000 MTU (1.495mt @ 0.55% WO₃) and Inferred Mineral Resources of 720,000 MTU (1.23mt @ 0.59% WO₃). Cut off grade of 0.3% WO₃.
Significant resource expansion potential.