COLT RESOURCES
MINING indicated resources of 340,310oz and inferred resources of 84,200oz of gold . It has an estimated 11 kilometres of gold mineralisation .
Initial metallurgical test work has demonstrated that the gold at Boa Fé is readily recoverable using a combination of conventional methods such as gravity , flotation and cyanide technologies , with Colt looking to start production by the end of 2015 .
The Tabuaço Experimental Mining Licence ( EML ) in North-Eastern Portugal covers a total area of 45.13 square kilometres . Since 2007 Colt has carried out extensive outcrop sampling work , and then embarked on an exploration and evaluation diamond drilling program which to date involved in excess of 100 drill holes , totalling more than 11,400 metres .
Martins outlined the importance of impending bankable feasibility studies to the progress of both projects . “ We are looking to conclude this by early next year ,” he said .
“ We are developing a resource estimation update and are pretty sure there is huge potential , the bank feasibility study will prove this and encourage investment . The strategy is to start production as soon as possible and generate some cash flow .”
“ We are open to many avenues of construction and production and for example have had conversations with potential German and Chinese partners about mining at Tabuaço .”
Workers on site
Country Properties Portugal
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