Colt Resources Inc. announced details of an initial resource estimate for its 100% owned Tabuaço (São Pedro das Águias) tungsten project, located in the Company’s wholly owned Armamar‐Meda concession in northern Portugal.

The resources have been estimated by SRK Consulting (UK) Ltd and SRK Exploration Services Ltd. This has been reported in accordance with the guidelines set out by the Canadian Institute of Mining, Metallurgy and Petroleum (CIM) and detailed in the National Instrument 43-101.

Resource Estimate Highlights

• Indicated resources total 760,000 tonnes with an average grade of 0.58% WO3.
• Inferred resources total 1,330,000 tonnes with an average grade of 0.57% WO3.
• The mineralization, hosted in shallowly dipping skarn units, remains open for expansion in several directions. Four drills are operating at the project at present to expand current resources and identify new mineralized areas.

"We are very encouraged by this initial estimate that has been focused on a portion of a larger zone of mineralization that remains open. The high grade nature of the mineralization confirms Tabuaço to be one of the highest grade, undeveloped tungsten deposits in Europe. We have an outstanding team on site and we fully intend to build upon this robust foundation in the months ahead”, said Nikolas Perrault, President and CEO.

Perrault went on to say, "We recently announced the acquisition of the surface rights at Tabuaço. Colt will now focus on delivering a Preliminary Economic Assessment during the first half of 2012 which will include an updated resource estimate”.

More information, click here.

Bookmark this page!