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colt resources inc (GTP) Snapshot

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11/1/13 - C$0.44
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colt resources inc (GTP) Details

Colt Resources Inc., an exploration stage company, engages in the acquisition, exploration, and development of mineral properties in Portugal and Canada. It primarily explores for gold and tungsten, as well as for zinc, lead, base metals, and various minerals. The company’s principal projects include the Boa Fé gold project in southern Portugal; and the Armamar-Meda tungsten project in northern Portugal. Colt Resources Inc. was incorporated in 2000 and is headquartered in Montreal, Canada.

Founded in 2000

colt resources inc (GTP) Top Compensated Officers

Chief Executive Officer, President and Direct...
Total Annual Compensation: C$300.0K
Chief Financial Officer
Total Annual Compensation: C$12.5K
Chief Legal Officer and Corporate Secretary
Total Annual Compensation: C$213.1K
Compensation as of Fiscal Year 2013.

colt resources inc (GTP) Key Developments

Colt Resources Inc. Announces the Resignation of Declan Costelloe as Executive Vice-President and Chief Operating Officer

Colt Resources Inc. announced that Mr. Declan Costelloe has resigned as Executive Vice-President and Chief Operating Officer. Senior operations staff in Portugal have been assigned additional responsibilities in order to ensure a smooth transition.

Colt Resources Reports Promising New Discovery at its Tabuaço Tungsten Project, Northern Portugal

Colt Resources Inc. announced encouraging intercepts in the first three holes drilled at the Tabuaço tungsten project, in northern Portugal, as part of its resource expansion drilling program started on June 18(th). The initial three holes of this latest phase of drilling, DHT-113, DHT-114 and DHT-115, have focused on testing the ground close to an isolated hole completed in December 2012, DHT-88, which intersected rich tungsten mineralization away from either the SPA or Aveleira deposits. Visual inspection of the mineralized skarns intersected by all three holes, both under natural light and short-wave UV-light indicates that in general they compare very well, both in terms of mineralogy and texture, with hole DHT-88. The rock mechanics conditions of the entire sequence intersected by the latest holes (both the mineralized zones and the hangingwall rocks) are very good and appear to be superior to that encountered elsewhere on the project. The three initial holes of this latest program are located within 100m of DHT-88 and strongly suggest the presence of a previously undetected zone of mineralization unrelated to either the SPA or Aveleira deposits. Sampling of the mineralized drill core of holes DHT-113, DHT-114 and DHT-115 is underway, and high priority has been given to reporting assay results from these very promising intercepts.

Colt Resources Announces Completion of Infill Drilling Program at Boa Fé Gold Project and Resumption of Drilling at "Tabuaço" Tungsten Project

Colt Resources Inc. announced the completion of the infill drilling campaign, at its 100% controlled "Boa Fé" gold project located in Southern Portugal. Colt is also announced the commencement of infill and resource expansion drilling at its 100% controlled "Tabuaço" tungsten project located in Northern Portugal. The infill drilling program at Boa Fé was designed to improve confidence in previously reported resources and provide data needed to advance the feasibility study related work for the project which is already underway. Since November 2013, a total of 74 (6636 metres) infill drill holes were completed at the Boa Fé Project targeting the Braços, Chaminé and Casas Novas deposits. Logging and sample preparation of the most recently collected core is ongoing and sample dispatch for assaying is planned when completed. Samples from holes drilled in late 2013 and early 2014 have been dispatched to the assay laboratory in Spain and assays are pending. Since publishing a positive PEA for Boa Fé in May 2013, much internal work has been done to plan the most efficient strategy to advance the project. While the PEA addressed just six targets that had been previously identified by RTZ during the 1990s, it is the Company's belief that there is good potential to increase resources through additional exploration drilling both along strike and following the known deposits to depth. At Tabuaço, located in Northern Portugal, Colt is very pleased to announce the recommencement of drilling (June 18, 2014) designed to infill known resource areas and to test for deposit extensions. The Tabuaço drilling program will initially be focused towards increasing the total resource base of the project, as previously reported from the São Pedro das Águias (SPA) and Aveleira deposits (Colt News Release of October 3, 2012). This will be accomplished through both: Drill testing for possible lateral extensions of the SPA deposit, which remains open to the west, underneath the granite body, and Exploring for potential new ore lenses located in the gap between the SPA and Aveleira deposits, where widely spaced exploration holes completed in 2012 indicate the presence of tungsten mineralized skarn horizons.


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