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Colt Resources intersects 1.37% tungsten at Tabuaco project in Portugal

Colt Resources (CVE:GTP) announced Monday it intersected up to 1.37% tungsten at its Tabuaco tungsten project, located on its wholly owned Armamar-Meda concession in northern Portugal.

Monday's reported results are from an additional nine holes, which form part of the company's ongoing drill program at the property, designed to confirm and expand the historical resource estimate.

Hole DHT-26 found 12.59 metres grading 0.76% tungsten, including 1.37% tungsten over 3.34 metres.

These results, along with historical reports, indicate that the deposit remains open in all directions, Colt said. Grades and thicknesses also tend to increase away from the historical resource zone, it added.

Other notable results included 1.33% tungsten over 2.96 metres in hole DHT-23, and 0.78% tungsten over 6.25 metres in hole DHT-20. Assays from hole DHT-19 also returned 6.29 metres grading 0.95% tungsten.

"Results of these holes continue to confirm that the deposit model is robust and that the predicted grades and thicknesses are being achieved," commented president and CEO, Nikolas Perrault.

The historical, non NI 43-101 compliant resource estimate for the property is one million tonnes grading 0.87% tungsten.

Four diamond drill rigs remain in operation on site, with the intention of increasing the data flow as the company moves towards the completion of an NI 43-101 compliant resource estimate later this year, Colt said.